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I'm thinking the opposite as we will inherit the non-UK production that will be worth something finally?

Wft extension probably brought forward alot of the cop dates. once you kill the main hubs the smaller satellite fields will have to go... Tories & Labour + the BBC still talk about the shell/BP global profits and have no idea how small their operations are on the UK. they probably thought HBR has more operations in port activities than oil...

***o discovery news was leaked?

Can anyone clarify if the financial statements shown are already considering the separated business or it's still combined with the midstream & russian stuff?

Also note one off G&A provision of 453M for closure of kassel/hamburg hq & 260M currency devaluation costs factored into this results.

although it was noted that the Russian business costs were taken out, the methodology is not clear to me and potentially there could be some additional conservatism attached there so this is not a true picture of the WD portfolio that HBR will obtain.

what is clear is that WD management priority is for a clean exit for BASF and this will aid in the deal approval and finalisation with HBR

This is quite extreme thinking for Labour not to allow for any decommissioning tax offsets. Has it been said anywhere in their proposals?

They do realise the cost of decommissioning will fallback to taxpayers if the company goes insolvent, right?

I think it's mainly due to the quarternorth story , good to have lost out to Talos! IMHO kosmos is a much better buy and it might be possible with the newco.

Https://www.upstreamonline.com/finance/m-a-in-the-spotlight-which-of-the-top-quality-oil-and-gas-independents-is-next-/2-1-1579667

more to come?

Harbour 'not finished' with M&A

The acquisition of Wintershall is "straight down the fairway of the strategy we've been following since Harbour’s inception in 2014", Harbour chief executive Linda Cook said on 22 December.

Cook was asked if the Wintershall deal meant the company was finished with M&A.

"I make the comment that completing this one is our number one priority. But I think what I feel good about is that we'll have the option and we'll be ready and prepared should the right opportunity present itself from a financial standpoint, even after completing this large transaction."

She said that Harbour has recently had the opportunity to engage on at least two or three separate deals of a different nature to Wintershall Dea.

Legacy of the premier oil period. when hbr took over, pmo holders were only given ~5% of the newco.

Considering Total, Equinor, Adnoc offered an all cash offer and BASF chose HBR in the end suggests that they view the newco will be worth alot more than the 360p offer they will be getting for it!

Before someone shoots me down, Hess has potential of 3B boe of reserves in Guyana 😂

HBR has more production than Hess, and that was sold for $53B!

Now you've learnt your lesson, sell before the 6 months lock in is up

Harbour's current shareholders would own 45.5 per cent of Harbour; BASF and LetterOne would own 39.6 per cent and 14.9 per cent, respectively

For a 2.8x growth in the business!

Amazing deal:

- Cost: 2.15B cash + 4.15B shares + 4.9B bonds (with 1.8% coupon rate!)

- Production: + 320kboepd (+178% increase!)

- 2P Reserves: +1.1Bn boe (+275% increase)

FY FCF (post-tax, pre-dividend) in 2022 = 2.1B + 3.9B (6B combined!)

Possible future options for the inherited portfolio:

- Sell non-core areas like Algeria, Libya, Egypt & UAE (~47kboepd & 25% of 2P reserves)

- or Sell Argentina + Mexico (~66kboepd & 22% of 2P reserves + significant 2C resources)

- or Sell their CCS stakes

NSS, you might want to ask mods to delete your post, you've just gave your name away!

Excellent news: https://gulfnews.com/business/energy/abu-dhabis-mubadala-energy-confirms-major-gas-discovery-in-indonesias-layaran-1-exploration-well-1.1702968968630

Carlos better speed up his purchases

Just in time for grupo carso :)

Some details on the area in this article:

https://geoexpro.com/major-drilling-campaign-planned-for-the-new-mega-gas-trend-in-indonesia/

Halwa seems to be the one to look out for

First gas on Tolmount East as reported by Kellas on LinkedIn but no RNS from IR!