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Had a quick reply from HMRC consultation - ' Stop ramping' FFS. Well you got to try! I did say my target price was £6.50 dead giveaway.

Auson,

Yep that would be truly awesome - I think tomorrow's meeting will assist in refining the rushed, ill thought out WT. I'm not a legal expert but to tax NON WIndfall profits with a WT is bt definition unfair and could be legally challenged. Still good to see Linda taking the lead and explains the lack of an RNS - as this matter is WIP. GLA

Thanks for posting the link guys, I too have replied highlighting (As Others Have)
1. Hedging at $61 is NOT Windfall profits
2. Sunset Clause - too long
3. decommissioning aged assets
4. Tax losses b\fwd when Oil $10 2 years limited use against WT
5. BP & Shell - mega Caps should be their focus.

Thanks & Good Luck

Didn't you see the 6.7m trade today - look London Stock exchange UT was +550k, volume +10.8m I think.

This $200m will be spent before H1 and cheap shares should get 5% cancelled - all helps- solid volume well played.

The oil giant behind a £4.5bn North Sea project has threatened to abandon the investment in the strongest backlash yet against Boris Johnson’s windfall tax.
The $100bn Norwegian state energy company Equinor has privately told industry contacts it is reconsidering its plan to drill for oil and gas in the Rosebank field near the Shetland Islands.
Sources said Equinor wants the Government to change the terms of its so-called Energy Profits Levy before committing to the investment.
Shell has separately told analysts it is also less likely to develop the £2bn Cambo project in the North Sea after the introduction of an additional 25pc tax on energy company profits.
Rishi Sunak has imposed the extra levy to raise around £5bn to fund support for British households struggling with increases in energy bills in the cost-of-living crisis.
The Chancellor has said it is right for the Government to tax the "extraordinary" profits energy companies have earned from rising prices. The levy continues to stoke Cabinet disagreement, however. It is understood the Business Secretary Kwasi Kwarteng wrote to Mr Sunak last week to express concerns about the risk to investment in the North Sea and the lack of consultation with the sector.
Energy companies have warned that the hike in tax will deter investment in the North Sea just as Britain tries to secure domestic supplies of energy rather than rely on imports in the wake of Russia's invasion of Ukraine.
They have complained that the windfall tax will push multinational companies to invest in jurisdictions with a more stable fiscal policy.
An industry source said a senior Equinor executive warned the Rosebank project was at risk in a private conversation shortly after the windfall tax was officially announced. They said Equinor has also warned trade body representatives about its fears for the project.
The source said: "The biggest one up for debate now is the Rosebank project. Rosebank in particular is definitely up for grabs. Equinor has privately said that it's under review, but they've not done so publicly.
"Rosebank is a big project, but for Equinor frankly it has bigger projects elsewhere. It would be pretty relaxed about saying we don't want to do that project."

It's not over yet.

A strange day to say the least, that's a massive UT, haven't seen such a large play, totally don't understand it and its price. Can anyone help? Cheers.

jefff, that's a really solid and helpful post, I forgot about triple - every qtr - too caught up in the misery. Thank you and appreciated.
BH

I reckon another 1m taken off the table today - all adds to HBR going forward

Whilst the above plays out - BOE 0.25% Base rate increase - BBC News - world falls over. Does anyone out there remember 16Th Sept 1992.
Soros takes on the BOE and wins a bet against the ERM -Euro mechanism. In 1 DAY INTEREST RATES UP +3% base rates were 12% ish add banks margin for a small business - I was Financial controller facing +17% overdraft and borrowing costs, trying to trade through it, Housing market double digit mortgages , Negative equity and now we collapse at a 0.25% rate increase - WE HAD +3% IN ONE DAY FFS. And here to tell the tail. Grow up, we had 19% inflation in the 70's .
0.25% Rate hike – no recession for ITV, on what basis can you drop a 35% discounted share another 7% – only want your shares on the cheap. Strong yield - shorts love today - overdone, patience is key here.

Whilst the above plays out - BOE 0.25% Base rate increase - BBC News Jefff world falls over FFs. Does anyone out there remember 16Th Sept 1992.
Soros takes on the BOE and wins a bet against the ERM -Euro mechanism. In 1 DAY INTEREST RATES UP +3% base rates were 12% ish add banks margin for a small business - I was Financial controller facing +17% overdraft and borrowing costs, trying to trade through it, Housing market double digit mortgages , Negative equity, cats and dogs fighting and now we collapse at a 0.25% rate increase - WE HAD +3% IN ONE DAY FFS. And here to tell the tail. Grow up, we had 19% inflation in the 70's - OK we stole, it built a community spirit - we committed crime together but we got by.

The only trading era I would not like to face - was the Cuban missile crisis - do I short US Property Market or go long on Artic away vacations, GLA

i do agree - we are fed too much volatility - for the obvious reasons, when the Vol = insane - buy or sell.. 0.25% FFS

Just added some more - wonder what the buyback figure will be - RNs tmz? Front loaded, could be $50m a month pre H1 or £10m a week.

Still blue after -200pt drop in the FTSE 100, S&P down -3% and Brent down - FTSE & S&P rebound tmz, could be interesting. Will look for today's volume.

I couldn't short HBR, when POO $120 high Nat gas - tolmount producing great fundamentals and think it could fall +30% , even with WT.,
So, I, like a few have had a kicking last 2 months, however I've kept my powder dry waiting for a turning point, IMO we have it. It's not nice facing the upslope and over exposed to the wrong side of the trade. It make take time but HBR will be set on a recovery path here back through £5.40 and onward to +£6.50 by H1 - 2 months.

Q1 revenue $1.50bn, Q2 with tol at least $1.9bn $2bn with brent $120, now with THE NEW - Nat Gas shock H2 must be $3.8bn(maint'ce gaps) = or +$7.2-7.5bn FY huge Gross margin +55-58% and EBITDA - Can't see better value anywhere, GIC has given us a gift and when gone this will flip 20% in no time, it shouldn't be here anyway.

The share BB puts a floor under this SP and now the WT issue has been cleared up by inference - we are good to go Houston.

LL totally agree - most FTSE 100 firms earn - or as exposed to $ revenue - great for UK market medium term. I remember parity back in 1985 and had bought Newman Industries at 19p - their US profits nearly doubled (forex uplift) - sold 28p, had a beer, then they had a takeover bid +50p $ exposure part of it - typical of my timing!. GLA . At least forex will keep a lid on opex costs, counteracting inflation.

Auson - luv it - totally agree, HBR is so undervalued - the SP is lower than pre rise following Ukraine and build up to FYR mar 22 RNS. The BOD are making good on their promises - GIC soon gone Shorters running out of negatives, as said earlier - you can see the momentum swing towards the bull case. GLA

Production income unaffected , second half world cup - expect strong H1 results next month and divi.GLA

We are up today desipte Footsie down 160pts, this RNS IM confirms WT not a material issue as did Sercias RNS - they bounced from £2.45 to now £3.17, we should see HBR doing the same as soon as the market settles down next 2-3 days. Get out now - who's buying the most shares ?
1. Shorters Closing
2. Share buy back
3. PI's buying the dip

HNY

Interest silence from many known names............................

Thats the one DBNO - 40% stake with BP, $80m drill. we have 40% - great 9 min video by Trove explaining the target - one of 'Multiple plays' in our block - if it comes in. Will materially impact our proven reserves - according to HBR CMD - acceptable chances of success - managed risk. HBR have prioritised this exploration - hoping for 'HIGH' impact. Not long know. check out Wheaton discusses this on HBR presentation 2hrs in to the CMD video. Again PMO had a strong exploration history and hope this adds to that list.

Now we'll really benefit from Sterling's collapse - compared to 3-4 months ago - $200m affords an extra £20m sterling for the buy back at $1.21 - last thing we need now is Timpan wildcat. Energean drilled 4800m in the Med - Athena spud 25th Athena well last month took 45days - our drill is slightly shallower but in deeper waters. Should have news end of June early July now the BB have woken up to the needs of investors. Well spud was 10th May - we're 37 days into the drill!!!!!!

This $200m BB won't take 6 months, they'll forward schedule this whilst the SP is languishing and before the record H1 results end of August, as ith CNE they accelerated the BB when the SP was under £2, that should be around £4.35 here. GLA At to laugh at those peeps stating the WT would destroy the BB! They've been caught out here today luzzin it - it will more effort to drop this now, especially with GIC nearly out - swing momentum to the upside.