Member Info for chinch

Rachel Reeves saying expanding the WFT would provide a further £10bn. She didn’t say how the expansion would work.

This EPL should be on extraordinary profits but looks like it’s here to stay forever. Wonder what Schapps meeting was like with the big oilers?

Look at the rns last para - they’re going to go bust or share raise shortly with dilution

I bet UOG go back to Quattro and see how much they can afford upfront and ask for payments depending on production.

Not sure that will be the case as loads of licences available that probably will drive down the price. Operators will pick and choose.

Problem is would anyone want to pay what Quattro were offering?

The Quattro deal looks dead in the water - what is plan b Brian?

Thx Sasa. With Tories winning Uxbridge on Ulez, Rishi thinks he’s onto a winner by doing something different from Labour who have no idea what they are going to do on O&G. These politicians will do anything they can to keep power.

Is sentiment turning for O&G Companies? Are they going to be investable again - who knows but at least we have a step in the right direction….

Atb

Rax I agree. Sunak is talking about energy security, but hang on, O&G companies pay the highest tax of any industry. So the agenda is to award more licences, make more money and crucially pay more tax. Tax is key here then they will use this money to reduce tax in other areas to try and gain votes before next election.

Politicians don’t care about the O&G industry, they just want the tax receipts….

All imo

What should be happening is all O&G companies stick 2 fingers up to politicians and refuse to bid for any unless the WFT is amended. I understand that Sunak, Shapps and co are meeting O&G companies this week. Now is the time to lay it on the line and tell the politicians that taxing at 75% isn’t on. Don’t hold back!

My divs defo not reinvested here. Playing safe with bonds at about 6%.

Hi Newk, it’s also interesting that you don’t hear from Labour anymore about a “proper WFT”. That’s because someone has finally woken up and have seen that prices have stabilised so there are no “extraordinary” profits. Unfortunately, whilst Grant Shapps wants to get every last drop out of the NS, they won’t provide a better tax deal.

Yes BG announce record profits and everyone jumps on the bandwagon to say they shouldn’t make that much. In the UK profit is now a dirty word.

From 10.55am looks like the buyers are back in…..

If you read my post Vista that’s what I’ve said - it’s a pure punt play and certainly doesn’t make up a massive part of my portfolio.

For me Jamaica has always been the key to UOG and not other areas and that’s why I’m invested here. It’s a pure punt play - call it risk and reward.

As soon as the King’s Coronation finished Jamaica came out and openly said they wanted to become a Republic, I saw the interview. However, if you are going down that road you need to be self supporting and tourism alone won’t sustain the economy. I don’t know if you have seen the pictures with UOG board and the Jamaican authorities which says to me that Jamaica really want to drill which if successful would support the economy, deliver jobs, growth etc.

Now BL has said that there are interested “parties” which is good news but unfortunately we won’t get to hear on how negotiations are going. For UOG to survive Jamaica has to come in or it’s game over. We’ve all seen the sp up and down at various stages but Jamaica could be a game changer. Question has been asked why not just buyout UOG - but you would have to pay to include the Jamaica and Maria licence so actually that wouldn’t be a bad result for s/hs and the bid defo would not be what the SP is today.

As soon as the sp dropped following the rns all the doomsayers were out in force and vice versa when the sp goes up.

I think that people and even investors have to look at what potentially could be a game changer but if it doesn’t then you lose. It’s that simple.

A lot of pressure on BL and the team at the moment so let’s hope they can deliver.

I know your question was to Newk but here are my answers:

Mercuria shipping in their own team. Can’t be a lot worse than the SQZ team who quite frankly don’t seem to have done a lot.

Can’t see the sp increasing unless there is a deal outside the NS or buy/build a business with green credentials

Probably no new deal but hoping that the new directors might be up for it

No reason to hold except for the div

Are you talking about the SQZ directors or Mercuria?

Gas down to 63p and oil not seen the expected hikes yet

More like kicking the Serica people out ready for the Mercuria takeover…..

Surprised, I think we all know that SQZ is undervalued (and always has been) and perhaps more so now.

The issue is that there is very little appetite for O&G stocks probably for the following reasons:

EPL

Uncertainty in the political arena especially with Labour sending mixed messages

A lot of funds not wanting to invest as O&G are dirty companies

The race to green energy such as wind is seemed more important

The markets tend to go in cycles for all types of industries and it just so happens that O&G is in a massive slump. Unfortunately I can see the sp falling further despite the metrics as sentiment is just not there. A move to renewables or acquisition of a company not in the NS are the only hopes.

Atb

Since Feb 22 all these brokers have put price targets on BT and not one has even got close so take this with a pinch of salt…

Come on Brian give us an update as to where we are for everything…..

I agree Jono - the BOD should be updating the market/shs.

Agree also with the another poster that this will be a very busy time for news - let’s hope it’s good….

Atb