Member Info for Krakenoil

Hi Stevo, I might have the wrong end of the stick again but what losses over the past few years are you talking about as we have made good pre tax profits over the past few years

I was wrong, Enq hasn’t paid returns in the past. Must have dreamt it.

Might get a sausage next year Monkey then again Labour might put a end to that

I’m sure the company paid returns up to the end of 2015.

I’m sure the company paid returns in the early years

This might be a question for Stevo or MRC to answer.

Do we already have in place an agreement between the company and its shareholders for Dividends and Buybacks still in place from when the company used to pay returns or do we the shareholders need to approve it first after they were cancelled/put on hold years ago ?

Not sure that will make much difference right now Jan, would just enable a few more bigger investors to exit around this level.

We need a EPL reduction or allowance to offset debt against it and that looks as likely as a conservative government winning the GE

This government is unbelievable.

New Gas power stations but we ain’t got any Gas to run them on and we ain’t allowed to produce it.

Not sure even Diane Abbot would have come up with a plan like that !

Reality of this governments inability to run a bath let alone a country and put the people of this country first before uneconomical crusades like net zero. The country simply can't afford it and the public must fight back

These Tax raids and constant Tax changes trumps all good news coming from the corporate side.

Legalised robbery and uncertainty has wrecked any chance we had of a recovery. Unless labour change their stance towards the sector we won't see a value recovery

We have been robbed,

I'm not sure If its worth holding on any longer.

It gets worse and worse each day. The lies coming from our government is horrific and I don't understand why the media are letting them get away with it.

Going back to yearly lows by the looks of it

We can afford SHR starting next year. £50m should be easily covered by the drop in the Armada lease

If the Oil price drops then the windfall Tax will end and we are pretty well hedged

Https://worldoil.com/news/2024/3/7/oeuk-windfall-tax-extension-on-offshore-oil-and-gas-production-risks-economic-growth/

It’s now time for the whole industry to kick off and start shouting back making the public fully aware of what’s going on and the consequences of it. When hard working people start losing their jobs rioting on the streets has to happen.

Stevo - Just a thought, are you sure you can calculate the Magnus profit share to BP in barrels as you are giving BP the productions costs of those barrels by doing that, surely you have to calculate just the profit alone or am I being stupid again and do we know the BE cost at Magnus ?

Well at least we can offset the investment for BB against it

Might give us more opportunity to buy producing assets off companies that had had enough

Is it going to be 12p or 14p day Mr Hunty

I think the market has already priced in a negative budget position for oil and Gas companies

Remember last year in the week running up to the Autumn Budget and the media were saying Hunt is going to reduce the EPL - Well he didn't did he so I would take whatever the media say with a pinch of salt.

Lets see what happens tomorrow

I doubt Labour would make Hydrocarbons illegal, first they would need to ban Coal mining, even Kellingley Colliery profits alone are around £600m a year so a fair chunk of Tax going to the Treasury they wont want to lose.

The profits from the coal mines are slipping under the radar.

Why isn't Hunt looking at the enormous profits made by the electricity and Gas suppliers rather than the oil and Gas producers ? They are the reason we are having massive energy bills