Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
https://kalkinemedia.com/uk/stocks/oil-gas/stocks-to-watch-amid-warnings-of-uk-energy-shortfalls
Here is an example. on a calculation if it will be EPL from Ian.
The Energy Profit Levy imposed is on top of the existing tax regime and explicitly excludes the use of prior period losses as an offset. Therefore, EnQuest expects to be paying tax on its UK operations in relation to the new levy.
In simple terms, you just look at calculating taxable profit and deducting the EPL capital allowances, then tax the net at 25%. See below - Numbers are just for ease of calculations and not a forecast
110 taxable profit
10 capex results in 18 of allowances (180% of combined investment allowances against EPL, so 10 * 180%)
This leaves 110-18 = 92 net profit to be taxed at 25%
This results in a tax charge of 23
Regardless of the tax position, there are no changes to the Group’s 2022 guidance.
I do not think there will be a windfall tax, partyBoris will not stay if that happens.
https://www.bloomberg.com/news/articles/2022-05-26/uk-oil-windfall-tax-prompts-bp-to-look-again-at-investment-plans
https://www.oedigital.com/news/496800-decarbonization-geothermal-study-launched-to-repurpose-old-north-sea-wells
https://www.**********.co.uk/articles/rns-hotlist-alkemy-centralnic-clontarf-enquest-futura-iog-oriole-quantum-rockfir
Enquest – This oil penny stock is a UK-based exploration and production firm. As of writing, Enquest carries a market capitalization of under $600 million, so there is plenty of upside on the table. Over the prior year of trading, Enquest stock is up 74%.
https://www.business2community.com/stocks/best-oil-stocks
https://www.nasdaq.com/articles/what-makes-enquest-enquf-a-new-buy-stock