Member Info for Krakenoil

Goldman Sachs has said this morning it doesn’t believe oil prices will rebound towards $100 this year.
It’s all stacked against the North Sea - we’re being punished for the next 5 years over Putins war and a price spike that lasted just 28 days
Mental

This is covid all over again

Oil is heading towards $60 - that why windfall tax is going to kill off producers - profit made in the time of high prices cover times of low prices
If you take the profits in tax what’s going to cover the losses (slow death)

If they put a floor in of 85 expect the SP to rocket back towards 30p but there is no chance of that happening now. I think they won’t even care if North Sea production starts to drop off and if people start loosing their jobs, they have covered Labour claim, they know full well what would happen but it was the perfect excuse opportunity to grab more Tax.

They won’t announce anything until they can justify a change due to job losses, investment falling, companies failings. Production decline rates increasing.
I really don’t understand why the industry isn’t kicking off over it, I would be screaming Blue murder until I was blue in the face if I was AB or Linda Cook.

https://www.energyvoice.com/renewables-energy-transition/ccs/uk-ccs/490702/sir-ian-wood-urges-govt-to-confirm-acorn-will-benefit-from-20bn-ccs-pot/

You're spelling is awful just like you're trolling

They had EnQuest shares valued at £1.73p - That would be fantastic

Stevo I don’t agree with that, the EPL is 35% of our profit made in the U.K. it’s not 75% of it as we have tax credits to use up and if we don’t make that much profit we won’t use up the tax credits. If you were anywhere near correct then James from Barclays would not have increased his target price over 50% back in January to 32p from 20p
He obviously see’s us in a better light than you do.
I think you sold out and you are talking your book again.

Enquest obviously believe something is going to be Announced by the government before the end of the month otherwise why delay? The cash is banked 2022 has been our best year to date, we know the EPL figure as per Novembers increase. We have already had our TU so the only reason to delay would be how we use the cash going forward. It could mean we can allocate the cash to another purchase if a floor is put in place to the EPL.
Or we may even pencil in a start for returns.
I see this as good news.

https://www.energyvoice.com/oilandgas/north-sea/490177/budget-chancellor-must-wake-up-to-damage-to-oil-and-gas-industry/

That’s probably why they are waiting

This ain’t a good move or is it ? Have we found a loophole to exploit?

Can't afford to go out on the lash any longer, Hunt's ruined that as well

I'm currently painting as many jobs as possible and currently out my nut on fumes, I call it day dreaming some would say solvent abuse, either way it takes me away to that special place , stops me thinking about the money I've let slip through my fingers. Oh well I'll be painting until I drop at this rate.
10p would make me a little moist

Who knows we might be in for a big surprise like a 5p dividend or a 35p all share buyout

Lets all wait for our Results before assuming we are getting FA for taking the stress and worry over the past 6 years.

The oil price tanking is zero to do with fundamentals, the price falling is to do with the bond market and positions being stopped out causing a mass sell off - coming down like a pack of cards.
This may actually help the situation with the government putting in a floor to the EPL

Buy backs wont hold up the SP when the government takes all the profit. We should be rioting in london and smashing up the place until someone listens

If the government don't put a floor under the EPL then expect the SP to carry on dropping because the value of the company is almost worthless with 75% tax and a Labour government ready to increase it even higher