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No new drilling licences to be issued.

Miliband has confirmed to need for SQZ to exit the UK.

Laura Kuenssberg interviewed Jonathan Reynolds, the new business secretary, on her show this morning.

Disappointing that they talked at length about the UK's steel industry (2,000 jobs at risk) yet the oil and gas industry wasn't mentioned (200,000 jobs).

The BBC appears to think Labour's plans for oil and gas don't represent a major threat to British industry and jobs.

Yes, it’s all about sentiment, not reality.

Interesting watching Wes Streeting on TV breakfast news this morning. Absolutely no sense of reality.

Asked about how Labour will raise the extra money to make improvements in public services, he cited VAT on private schools and clamping down on tax avoidance.

VAT on private schools will raise a tiny fraction of what they’re expecting, and it must have been spent 50 times over.

Clamping down on tax avoidance (rather than tax evasion) means they’ll be looking at ISAs, pensions, tax thresholds, etc. Closing all those “loop holes” as they like to call them. Won’t be popular.

And of course, he was keen to trumpet the green energy revolution. Apparently private companies will suddenly decide to invest hundreds of billions in new technology which will create 40,000 new jobs.

Cloud cuckoo land.

Reality will dawn sooner or later. Hopefully sooner.

Fair enough NQM, let’s wait and see what transpires, but if it’s anything like they have suggested so far there’s no point investing in the UK. Companies like SQZ will need to diversify overseas and run the UK part of the business into the ground, maximising production and cashflow at minimal cost for as long as possible.

No more buybacks, thanks.

Use the cash to pay larger dividends and stop investing in the UK unless sanity emerges from Westminster.

More articles in the Telegraph won't help. O&G companies need to make sure trade unions understand impact on jobs.

Unless the UK outlook changes soon, Serica should stop investing and operate at lowest possible cost to generate cash for as long as possible, which it should return to shareholders though dividends. Forget growth!

Another slide deck telling us how well the business is doing as the share price drops another 12%. More promises of M&A deals outside the UKCS which seem as credible as the promises in party manifestos in this election.

Hoping for a better day tomorrow. I keep saying it can't get any worse!

I was expecting a drop but this is considerably worse than I expected, as always with SQZ.

Really hoping the new management team get their collective fingers out soon.

Reality:

Labour will win the GE.

Within 2 years, reality will dawn.

They will realise their "plan" to decarbonise the electricity grid by 2030 is unachievable.

Their "plan" to stop issuing drilling licences will be watered down.

Their "plan" to reduce/remove investment allowances will be reversed.

Gas producers still operating in the UK will continue producing gas profitably for 2-3 decades.

We'll continue to need oil and gas for decades, regardless of net zero targets and ambitions. When more than 70% of your energy comes from oil and gas and your entire energy ecosystem is built around it, you can't just stop using it overnight.

Labour know this very well and will water down their ludicrous policies once in office.

Every new house that’s built will be consuming energy, a lot of which will come from the combustion of gas. Clearly we need to stop building houses.

The lunatics are taking over the asylum.

It's just a question of when.

I'm staying invested. It might be 6 months. It might be 2 years. But sooner or later, SQZ share price is going to double.

As I’ve said before, a press release needs to be issued on behalf of all North Sea producers stating how Labour’s manifesto plans will impact the industry, investments, jobs, energy security and carbon emissions.

This needs to be crystal clear to the voting public since at present everyone seems to believe Labour will be punishing the greedy “oil giants” while setting up the wonderful GB Energy and we’ll all be enjoying an infinite supply of cheap, clean energy.

Why can’t a body like OEUK get the truth onto the front page of every national newspaper? Why can’t trade unions have more influence? Do they really understand the impact?

ICB888, all true and agreed but public narrative promoted by politicians and the media is that oil and gas companies are greedy, polluting and need to be taxed more. No one is prepared to challenge the narrative and tell the truth about energy security, jobs, net tax revenue, or net emissions.

It's a massive act of self-destruction for the UK but so be it.

Looking forward to SQZ announcing a shift overseas soon.

I'm certain Starmer's ban on UKCS exploration will be reversed once reality bites. However, by then it might be too late since companies may have pulled out and shared infrastructure like pipelines may have been shut down.

The quality of our politicians, across both mainstream parties, is diabolical. They no longer act in the national interest.

All UK oil and gas companies need to make similar statements for all potential field developments and place FIDs on hold. That might help to focus attention.

Watching the TV debate for entertainment value.

Interesting audience reaction when Sunak mentioned the oil and gas windfall tax. A strong round of applause.

As long as public perception is that energy companies should be punished, politicians will continue punishing them, regardless of consequences.

We really need to get out of the UK.

This is insane.

Before the Tailwind deal, I reassured myself that the share price wouldn't drop too much since our cash mountain acted as a backstop. Cash balance was around £500 million and our market cap was just a little bit bigger than this. Our EV was tending towards zero and our SP was around £2.80.

Since then, we've become a bigger, more resilient company with considerably higher reserves and production volumes. We have reliable cashflow, respectable profit, and our debt and liabilities are still extremely low. On top of this, we're paying a 14% dividend!!!

So why is our share price so much lower? It's nothing to do with fundamentals. It's almost entirely down to fear. It's completely irrational.

Assuming Labour wins the GE, the company needs to stop investing in the UK, continue paying decent dividends, and start building up the cash pile again, putting us in a position to pay a very special dividend or invest overseas. In the meantime, they need to urgently look at moving from AIM to the main market.

I listened to Anas Sarwar (Scottish Labour leader) on the TV this morning.

He was talking about GB Energy, how it's going to support the energy transition, subsidised by the oil and gas windfall tax.

Once again, no one challenged him about unintended conseqences. It's assumed oil and gas companies will happily pay 75% tax as allowances are reduced and profits are decimated.

Politicians and the public need to wake up but no one is having a proper discussion about this. The only articles I've seen have been in right-leaning publications like the Daily Telegraph. These are ineffective channels since we're preaching to the converted. We need to get the debate into the Guardian and the Mirror, onto Laura Kuensberg and Robert Person, out there on Twitter (X).

Labour needs Scotland. Labour needs the trade unions. These are stakeholder groups the industry should be targeting. Energy security, jobs and tax revenue are important for everyone and it needs to be on everyone's radar for this general election.