These markets have slapped me badly but its only profit I'm losing 3 months time this will sort its self out and we'll see mid 30's again. This is what happens when you have the Bots in the driving seat.
I'm surprised no one has taken the government to court over this silly TAX robbery. Once the legislation is a done deal then I expect a few to challenge it especially when the government is Taxing pump prices so high causing the real issue.
I think these autobots are selling everything off again like they did with Covid. Let them lose money is what I say Buy the dips and sell the stock back to them on the way back up. look at it as another opportunity
You would think oil stock are the safe haven to be in right now, Oil prices are high with no sign of that dropping over the next year or so, but yet we are seeing the Stock prices across the board falling below the Jan/Feb prices on recession fears. Everything has been battered now. Basically pick any stock that is not in danger of going pop and sit back and wait for the rebound. Oil stocks for me are the safest bet out there and Enquest having record FCF coming in is my top pick. Christmas still looking good for 50p
Slapping on windfall Tax's is rather silly at the time when you need oil producers to pump more oil. All it does is make the problem even worse in the long run. The oil companies are the ones that will also lead the way into renewable energy and to do that will require huge amounts of money. Will the government give this WT back to them in the future to help the transition ... I doubt it
What I don't get is the way the market is now valuing us. We have just banked the profit of 6 months high oil prices, Its Banked, Can't be taken away ! Oil prices will not fall much below pre war ($96) Anyway its not the oil price that's causing the problem world wide its the refineries and the governments causing the issue with monster extraordinary Tax they are slapping on our pump prices, getting rid of Red Diesel causing transport costs to rise dramatically. Our woke governments are the problem ! Reduce the Tax at the pump by 30% and the problem will be gone
We asked the same question at the AGM and JS explained it would be negative to do that as some monthly payment come in at different dates so it makes the numbers look very good for say the first quarter but then terrible for the next one, you get a much clearer picture with 6 monthly updates. AB also said We are on track, we have consistently produced over 50k so far so we are on the upper end of our guidance