Member Info for kign

miles, tax credit can't be used on the windfall tax but still applies to rest of the taxes so I think they'll still carry over for quite long!

Well, HBR should follow in ENQ's foodsteps: https://archive.ph/fHgKs

*Data from https://www.hl.co.uk/shares/shares-search-results/h/harbour-energy-plc-ord-gbp0.00002
*Revenue, profit before tax, tax paid calculated from "profit before tax - profit after tax from continuing operations", % calculated from tax paid/profit before tax:

HBR 2021 revenue: 3.48B, profit before tax: 314.5M, Tax paid: 213.4M (67.9%)
BP 2021 revenue: 157.739B, profit before tax: 15.227B, Tax paid: 6.74B (44.3%)

Legal & General 2021 revenue: 10.375B, profit before tax: 2.632B, tax paid: 0.589B (22.4%)
Barclays 2021 revenue: 21.94B, profit before tax: 8.414B, tax paid: 1.188B (14.1%)
SSE 2021 revenue 8.61B, profit before tax: 3.48B, tax paid: 0.88B (25.4%)

Amazon 2021 revenue: 469.822B, profit before tax 38.155B, tax paid: 4.791B (12.6%)
Google 2021 revenue: 257.637B, profit before tax: 90.734B, tax paid: 14.701B (16.2%)

Woodmac says cost for HBR is 800M in 2022 alone!
https://archive.ph/mVUnY

are acquisitions considered capex?

crap, can't use tax credit: "To appropriately tax the extraordinary profits, companies will not be able to offset previous losses or decommissioning expenditure against profits subject to the levy."

Sounds like they have not given proper thought to what can be considered an investment that can qualify for the 91% tax relief.

https://www.gov.uk/government/publications/cost-of-living-support/energy-profits-levy-factsheet-26-may-2022

this is why I think it's falling:
- large shareholder GIC selling. people are wondering what will their largest shareholder, EIG do next?
- windfall tax threat although it's the banks/hedge fund earning most of the money through hedges but it could wipe out all the tax credits it inherited from premier.
- limited profitability as it has a high percentage of hedges but this should have been priced in.
- no news of significant efforts to fight their profile decline, have not seen any production profile forecasts yet from recent investor presentations.
- Not fighting against pemex for their Zama share and also exited Sea Lion that led to a huge reduction in 2c reserves.
- There is more news on their carbon capture projects but no one has any idea of the project profitability and some have questioned how are they going to fund it.
- Talks of new acquisitions have fizzled out.
- CEO among highest paid in the industry worldwide despite relatively small production and reserves. Did not add confidence to investors by buying more of her own company's shares.

thanks shauncod, the dividend is investable now

yes suffering lth here

yes still no dividend payments from hl

I would say windfall tax should fall on the likes of those that benefited greatly from the pandemic I.e. big tech.

those who have claimed work from home taxes should now be targeted for extra taxes to fund a payrise for the NHS as they've saved on transport.

in any case, I don't agree that HBR should buyback more shares but instead use that cash to buy other oil companies that are also undervalued but has bags of future reserves

it's good to look on the bright side :)

440 PROC
450 OWLS
480 NSS
450 BOBSTER
480 NSS
500 BACCH
510 PEARLS
543 kign
627 GIVING THE LOWDOWN

they gave no problems paying themselves a big bonus

not too sure if GIC is going to sell their whole lot? questions must be raised as to why are they doing this? 37.5% return last year is really good for such a large sovereign fund.

12.6792%

interesting to see that quite a big % do not want the buybacks from AGM votes. No. of votes seem to point to a certain big institution's 44M shares...just saying

GIC lot I guess?

lol cheer up HC. let's see what the market prices this at

down 26k today if that makes you feel better ??

£6.00 NSS
£5.43 kign

spoke too soon...