Member Info for Mirasol

"And the Incy Wincy profits went up for UJO again"

and The Govt took 65% off the top

"It may come into force with effect from today but it has still got to be legislated."

pretty desperate Ocelot

https://www.gov.uk/government/publications/cost-of-living-support/energy-profits-levy-factsheet-26-may-2022

Just as we look like making a profit - excess profits levy

https://www.gov.uk/government/publications/cost-of-living-support/energy-profits-levy-factsheet-26-may-2022

https://www.gov.uk/government/publications/cost-of-living-support/energy-profits-levy-factsheet-26-may-2022

"It will require legislation"

Lets just hope it doesn't get worse - NO-ONE will vote to cut the Windfall Tax ocelot

From the Govt announcement

The Energy Profits Levy is an additional 25% tax on UK oil and gas profits on top of the existing 40% headline rate of tax, taking the combined rate of tax on profits to 65%.

To appropriately tax the extraordinary profits, companies will not be able to offset previous losses or decommissioning expenditure against profits subject to the levy.

"The Energy Profits Levy is an additional 25% tax on UK oil and gas profits on top of the existing 40% headline rate of tax, taking the combined rate of tax on profits to 65%."

From the Govt announcement

"To appropriately tax the extraordinary profits, companies will not be able to offset previous losses or decommissioning expenditure against profits subject to the levy."

From the Govt announcement

" I still think that they should limit posts to 5 a day, "

Its a good idea but they need as many posts as possible to get the best rates from the advertisers - who are the people who pay for this board

"You said a dozen times you'll be off if the price doesn't reach £ 1 by year end - remember?"

Changing your mind already Heid??? :))))))))))))))))))))))))))

I doubt anyone will buy until

a) there is enough flow data to support the reservoir model that was in the data room

b) the sidetrack is drilled and the extra gas is there so you're not just covering the hedge

And Celtique paid off as well.................

I am staying.""

You said a dozen times you'll be off if the price doesn't reach £ 1 by year end - remember?

" Recoverable volumes were not estimated at this time due to the inherent uncertainties"

says it all

"Loxley gas field is huge"

Remember that the second well (Godley Bridge 2) on the "field" found nothing at all

Its taken ANGS (admittedly one of the worst operators in the UK) over 2 years just to RECONNECT Saltfleetby

"when Shell the offtake partner offers Angs a big lump."

GL last month:-
Q: "Would a project like this be simply too small for Shell?"
A: "I would think so yes."

The point of the US reserve is that it's used to buy US oil - it works as a sort of subsidy to US producers when the OP is really low.

SL & Isobel won't be on stream for 3 years if they started work today

"We have West Newton too. Egdon don't."

which is probably why their SP is gradually going up...............