Member Info for Krakenoil

Welcome back MO
Great to hear from you again.
Are you going to dip your toe back in ?

Makes you laugh, Sunak slaps on a illegal Dick Turpin Tax on companies that are suffering massive debts from making huge losses over the past 7 years and calls it “exordinary Profits”
When he is making even more “exordinary profits” at the pumps with his huge percentage In TAX
Why didn’t he reduce his TAX or cap it ?
Because he (The Government) are Robbing lying Bastards of the very highest order !

This stupid proposal won’t get passed into law without quite a few changes, I bet the screaming back and forth behind closed doors will take a good few weeks to sort out.
Sunak calls it “ exordinary profits”
I want to know why he hasn’t cut his TAX percentage down from the exordinary profits the government are making at the pump
They are making a monstrous amount of TAX from the pumps and are unwilling to give that up !
Dirty rotten bastards

https://www.telegraph.co.uk/business/2022/05/27/north-sea-oil-behemoth-turns-asia-windfall-tax-bites/

I think the government has made a pigs ear of this, rushed in to fast and will keep the headlines the same but add in lots of small print as to save face but also allowing the likes of Enquest and the smaller companies to pay down there debts before being hit with this Dick Turpin TAX

Lets hope we have now found the bottom to this sell off and we can now start the slow move back up.
Buy the dips
We didn't deserve this !

Bailiff let me start with calling you thick idiot !!
EnQuest was marching on and looking extremely undervalued until the government slapped on a illegal tax
How the hell were we aware that was going to happen.
And now that sets a president so everyone is now at risk of a surprise TAX even thick idiots like you

Sunak said every home in the Uk will get the 400 quid even if you own more than 1 home. He then went on to say if you don’t need the £400 you can always give it away to charity.
What a wan. Ker. Of the highest order !

I also asked IR if they knew what “a return to normal oil prices” meant, they don’t know either so we have to presume this TAX is here until December 2025 even if oil price drop below $70 within this time.

I bet AB is fuming as he has lost more than anyone over this.
We need him to step up again
Looking at the sell's that went through on Monday - someone knew what was coming ! They must of had inside information.

I've just had a email back from IR and the way its worded it sounds like Enquest don't fully understand it either.
I asked if we can dispute this new TAX and it now looks like OEUK (the industry body) are taking a stand against the tax, but not sure how much it will change things.
https://oeuk.org.uk/supporting-consumers-through-this-crisis-is-essential-but-damaging-the-uk-energy-industry-with-new-taxes-is-no-way-to-do-it-warns-offshore-energies-uk-2/
I think the government jumped the gun and this TAX has been rushed through without looking at the consequences.
I wonder if they change the small print over the next week or so.
I bet the government are taking a good hammering behind the scenes
I hope they think a bit longer into the negatives this will cause.

If that's correct then I can't really see much of a issue and the panic is way over done.
Enquest must settle the market with a RNS statement

Jan have you got a link to that please

That’s not what the market is saying looking at the sell off.
EnQuest must address the market ASAP
The uncertainty is causing panic yet again

I’ve done the same Jan, unfortunately I think Enquest are also trying to clarify what we can or can’t do with this rotten governments vague new tax ruling before deciding what’s the best way forward.
Selling the company maybe our only option now.

Romaron wake up ffs
We are dead in the water ffs
EnQuest needs to take this government to court

You can dress it up any way you like but the simple fact being this government has ruined EnQuest !
We needed another 12 months to get out of the debt burden but now we don’t have a chance.
I can’t see any way out of this robbery !
We’ve been truly shafted

Didn’t sleep last night, I just cannot get my head around how badly this vile government is running this country.
What a mess they’ve put us all in.
The lies, fraud, corruption the is going on is mind boggling and to top it all off we are now slapping windfall Tax on companies making a profit. (Isn’t that what companies are meant to do?)
Who’s next ? Anyone is now at risk of it.
Investors look for stability within the country they invest, the UK is now off that list.

So what does a “Return to normal levels mean” what is a normal price for oil and Gas ?

I bet this appalling government back track or twist it somehow, they’ve already lied through their teeth to to public and now they’ve stabbed our energy suppliers in the back that have to deal with oil prices having far more lows than highs over the past 7 years, I wouldn’t be surprised to see some cutting their losses here and relocating elsewhere. I bet the BOD of Amazon Google etc are laughing there socks off.
I wonder if the Vaccine manufacturers will face a windfall TAX ? Lol