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People need to do some calculations. Perhaps will hear from the company about an impact of this tax on them and future cash.
My basic calculations suggest Hur will have to pay windfall tax 25% on profits around 100m this year.
All the other taxes will be offset against previous years losses.
So Hur's profit for 2022 will be based on half year profit charged no tax and second half 25% which they can reduce by 91% if properly invest in development. Not all bad, but BoD need to calm the investors and say that apart of looking for the corporate deal, they also are looking into ways of reducing the windfall tax.
At 8p this is a buy in my books.
It is down from almost 12p now
Lads, they can buy another project and drill in a totally different place
Lads, they can buy another project and drill in a totally different place
“The new 80% Investment Allowance will mean businesses will overall get a 91p tax saving for every £1 they invest – providing them with an additional, immediate incentive to invest. This nearly doubles the tax relief available and means the more investment a firm makes, the less tax they will pay.”
Seems to be very hard to move above this level.
Kind of confirmation of the course here. Looking for the potential buyer imo.
14.84
I paid 11.5
Yeah, but highest trade of the day was very close at 10.18p. Ended too low considering all the other trades today.
Not any longer :) but give it a bit more time and should see Ask and Bid above 10
Today
And share price goes Unexpectedly lower
If oil prices really move to $120-150 as some experts suggest, then UK gov will be pushing for new oil projects to go live as soon as possible. Then our net money can be used towards some new JV and drilling campaign.
Would be good to start storing gas, not burning it
I know it sounds a lot, but this is given per his contract.
To add, different sector, different country, but salaries even higher... Check biotech US companies you will see CEOs earning 500k pa and their companies at clinical stages not generating a single dollar.
How would you spend $50m if you were in charge?
I would buy producing wells from the oiler that is going under. Kind of like the buyer of Nighthawk Energy did back in time. Just look for a company that is struggling to repay debts or declared banktupcy, offer them say 20m and have that 20m back in a year time from the operational wells. Seller saved and buyer delighted.
Tullow has hedges around $50-70, so for them oild prices are not so relevant for now
naah, that wasn't my thread.
Almost weekend and price of oil is increasing. Should be good next week here.
End of next week will be checking for Petroatlantic leaving the port again :-))
Was it regarding North Sea, BP and Equinor?