Member Info for Kevin55

What’s in store for Lloyd’s

Possible increase in bank levy

Employer NI increase of 1 to 2%

Minimum wage to be increased

motor finance loans Could cost 2 billion plus

Interest rate cut

Other things

Employees right bill next year

Higher CGT on selling shares

Higher tax on dividend

The bank levy was cut from 8% to 3% as corporation tax rates went up to 25% so in theory the banks did pretty well out of it.

There could be an employer NI increase

Possible bank levy considering they are going to freeze the grannies this winter I cannot see how they would not increase the levy

Possible CGT increase on shares

Last little bit of the dividend allowance scrapped

Last little bit CGT allowance scrapped

And a rate cut in November

No idea how this is going to impact Lloyd’s as it’s just starting to do improve

What do people think about next week earnings forecast?

And the budget ? They are going to increase employer NI this we know

Will they raise the surcharge too?

Will this have any effect on the current price?

On Wednesday, the lender is expected to report a pre-tax profit of £1.6 billion for the latest quarter, July to September, which would mark a decline from the £1.9 billion earned a year ago.

Budget

A spokesperson for the Treasury said it would not comment on "speculation about tax changes outside of a fiscal event". It did not immediately respond to a request for comment on Reeves' discussion with Dimon.

The sources, who declined to be named because of the sensitivity of the matter, said they anticipate the Treasury will seek to raise an existing surcharge that banks already pay.

Hopefully production will start early 2025 January of February

Looking forward to this going back to 60 after 3 years finally

Is this why the price has gone up

https://finance.yahoo.com/news/challenger-energy-group-plc-lon-060930159.html?.tsrc=rss

There will be no more drilling expected this year
Suriname has been delayed and probably will not be drilled until next year.

S1 is losing production from the highs of 500 bpd in December to about 420 bpd to date

S2 is only producing 80 bpd

The total production for the end of the year will be 500 bpd

You can totally forget about Uruguay and The Bahamas nothing going to happen there for a few years that if they even if they get a license for the Bahamas.

They still have outstanding debts on stena and the Behamas license.

Their total profit will be around 1.6 million

The company are so secretive about its outstanding debts and what money it actually has to spend on future drills. Far to much uncertainty in this company now the trust has completely gone.

Going forward they don’t have much to offer anymore.

Last year 5.5 billion share dilution
This year an open offer to help with S2

If they needed an open offer for S2 how on earth are they going to do future drills if the production of 500 bpd last December is exactly the same as it is now.

What’s take king so long to tell us how many bpd S2 is producing?
Is it that bad
All the news and rns they have released lately mean nothing people want to know how many bpd S2 has produced
Also thought they were going to start another drill In august no update on that either.

The well is being readied for production, which we expect will commence around 23rd July.
Ceg Twitter

Where you get the 900ft from for s1?

Leo Koot, Executive Chairman, commented

We are delighted to have submitted a DRL2 application to the Ministry of Energy and Energy Industries to drill the Saffron 2 well, a follow up to the Saffron 1 well drilled earlier this year. Saffron 2 will be a twin to Saffron 1 and target the same Lower Cruse intervals where we discovered light, high quality oil (circa 40° API) from two test intervals. The logging of Saffron 1 showed over 300 feet of high-quality sands so we are very excited to test and appraise these sands with Saffron 2.

well currently drilling at approximately 3,850ft against a target depth of 4,557ft

So next week we will find out how much oil they have found

Just wonder if they can produce 1500 to 2500 bpd by year end. Would we ever see this hit 24p
Their target is 2500 bpd if they can achieve that I do t see why this could not reach 24p 700 million shares in issue.

Will we ever see 24p ? Post consolidation

Let’s all hope everything goes well with S2
If they can produce up to 1500 bopd by year end they could be making 12 to 15 million which is not thing it would certainly push the share price north.
The only downside is the dilution

Since the merger BPC have now diluted this share by 5.5 billion including the OO Just within one year alone
After the consolidation it will be 700 million shares but they have the option to dilute this share by another 750 before the end of 2022 and knowing their past history of how much they love to dilute you can guarantee they will.
This will bring the of 1.4 billion shares.

10 years ago they had about 700 million at 25p
Making no money
April 2020 they had 1.4 billion at about 3 to 3.5p
Making no money
At present its 7 billion shares at .0035p
Making 3 million per year at present

Strange looking back 10 years was producing nothing at 25 p

After consolidation it will be at the same shares level it was 10 years ago difference is that it now making 3 million profit but the price is 3.5p what a strange world.

At the EGM, Shareholders will be asked to increase the Company's authorised share capital post share consolidation, and thereafter to approve a temporary authority for the Company to issue up to 750,000,000 new ordinary shares (on a post-share consolidation basis). If this authority was ultimately to be used in its entirety (and assuming the consolidation of the Company's share base is approved, the Open Offer is fully taken up or any Ordinary Shares not taken up are successfully placed, and the various other actions described in this document are completed) this would represent a total potential dilution of approximately 50 per cent. on a fully diluted basis, without the need for seeking further shareholder approval, and with such capacity to be in place until the end of 2022.

However there is a very small glimmer of green light
Their target is 2500 bpd by year end that only 6 months left of this year to achieve.
I personally cannot see them making this target especially when S2 was delayed for 3 months but if they do somehow achieve this target without any more dilution It may get this to 20p with 700 million share in issue.

Normally when these companies do a share consolidation it means the company is in financial difficulties.
What is does is make the company look more attractive to new investors and also makes it much more easier to dilute the company more in the future.
I don’t know any aim company that been a success story in a share consolidation.
I am strongly against it.
Many have an average hare of over 2p after the consolidation it will be 20p
10p will be £1
The new share price after consolidation will be 3.5p
This just allows more room for the share to drop further.
What results has bpc ever achieved all they have done is dilute the shares and this May continue after consolidation.

I think CERP were producing about 350 bpd at 35 dollars a barrel

I honestly cannot see this going to 50p share consolidation is never a good thing for any company. How ever I looking at past share price and the amount of share in issue which would be around 700 million plus the income it will produce by year end at about 1500 bpd if they can achieve that anything more obviously better.
Just wondering what the value would be if bpc can make 10 million by year end.