Member Info for Krakenoil

Geng -

EnQuest reported an extremely high effective tax rate of 99.7% for the 2025 financial year, largely driven by the UK North Sea windfall tax (Energy Profits Levy)

Was in 2016 at 23p

Oh and the government takes most of our profits

We haven’t even got our money back from the 23p open offer lol

Cobas selling into any move up

And we are still waiting for this elusive U.K. deal to be announced

A boat with around a dozen armed men onboard just attacked a cargo vessel near the Bab al-Mandeb Strait in the Red Sea. @visegrad24

The attack failed as they couldn’t board the ship.

Looks like the Houthis are starting attacks to close the Strait and the route through the Suez Canal.

Trump will give them a taste of their own medicine by blocking their fleet from using it as well.

Oh well at least we get another months worth of high oil prices to bring down our net debt

So Iran and the US talks failed getting close to agreement, Iran will not stop the enrichment of uranium and will keep the strait closed

Iran looking like they are holding better cards that the US

What will Trump do now ?

Even if it doesn't bring bills down because Mad Ed has signed us up to huge green energy subsidies it will bring in huge amounts of Tax revenue, creates jobs, investment and number one energy security.

The government could always make a deal with the producers to buy x amount at a discounted rate in exchange for dropping the EPL new licences etc.

But we all know Mad Ed is in control and his crusade takes preference over everything else even peoples lives

How stupid must we look to world leaders, they must all be saying why the hell are they importing when they have their own oil and Gas reserves

Handing over Billions of pounds when they could be bringing in Billions of Pounds

They are beyond Fu~king stupid.

Broker rating changed to Overweight from and increases target price to 25p

Iran just hit Saudi Arabia oil pipeline going to the Red Sea and Israel just bombed Lebanon

And still oil prices falling

Iran now demand $1 per barrel to pass through the strait

Not one ship has started the risky journey yet

Who’s going to be first sitting duck ?

There is no way Iran is going to allow ships to pass through without a single missile strike, Trump wont allow Iran to hold the straight hostage either.

This is far from over

Iran wants revenge

Oil prices down $30 and no ships have passed through yet

I’ve just put a long on oil

What a overreaction

I can't see how oil prices will fall quickly once the war is over, Other than the tankers sitting at anchor in the Straight waiting for safe passage world reserves have depleted so demand to fill those reserves will remain high for 2 years at least.

Pre war supply was running at 99% of maximum and daily demand wont be far behind that again add in demand to fill reserves = high prices for longer.

I can't see Iran making a deal with Trump. they want revenge.

Our problem is our debt - Debt used to be your friend but now it certainly is not its someone else's friend.

I’m very surprised we aren’t mid 20’s by now but with Cobas profit taking it could take a few more weeks or if they announce a U.K. deal

How long have we been waiting!

If they do remove it completely then Harbour won’t sell to us lol

Miliband’s only defence is “It won’t reduce energy bills” They need to shout back at telling him his renewable crusade hasn’t either it’s doubled our bills.

Looks like Kraken oil is making $175 plus per barrel

That’s crazy

Bressay must be worth a fortune

How are we only 20p still ?

North Sea Dated crude hit $142.15/bl on 2 April, the final trading day before Easter, the highest since mid-July 2008.