Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Hi Romaron, why the leak? Because someone apparently talked. Just like me you can read in the Oilprice-article "citing unnamed industry sources who had been privately briefed on the matter"....I found it strange we fell 5%, but Ithaca fell too, Petrofac fell 7%...First i thought it had something to do with the intention of ENQ going along with Bressay, but when i saw the Reuters-article, i thought that was the reason for our kneejerk-fall....
The positive thing is very simple : we still have the tax credits. I would not consider to start with Bressay. No more capital outlays. Get rid of the debt as soon as possible, i am willing to wait for bigger returns even when they have to come later, but get rid of the debt....And then run it down, or take over fields the others sell for nothing...We can't trust the Government.
“At the moment, the wider North Sea is not the most attractive place to invest because we have a wider level of fiscal instability and recent comments from the Labour Party do not help that position,” Mr Austin said.
“We have walked away from more deals in the UK sector of the North Sea [recently] than we’ve walked away from anything in the last 15 years, because of a lack of certainty of where we stand.
“And each time we think we have certainty, someone moves the goalposts and that’s not helpful.”
https://www.energyvoice.com/oilandgas/north-sea/548916/kistos-chairman-andrew-austin-north-sea-uk-labour-conservative-energy-policy-windfall-tax-epl-gas-storage/
On oil and gas from minute 16 second 50 : https://www.youtube.com/watch?v=Rq3zOoPF0lk
Go green and import wood from USA, Canada,Brazil, Latvia and subsidize.... https://www.telegraph.co.uk/business/2024/03/01/britain-burning-north-american-forests-drax-power-station/
Britain’s shift to a high-tax, regulatory state is crushing the life out of the economy.
https://www.telegraph.co.uk/business/2024/02/28/net-zero-delusion-reached-new-low/
For those too lazy to check :
Athabasca Oil share price early 2020 : 0,20 CAD
Athabasca Oil actual share price : 5,01 CAD
https://seekingalpha.com/news/4044475-athabasca-oil-raised-to-buy-at-rbc-on-free-cash-flow-allocation-plans
Athabasca Oil (OTCPK:ATHOF) RBC Capital upgraded the stock to Outperform from Sector Perform with a C$5 price target, as the Canadian company plans to allocate 100% of free cash flow to shareholders through its stock buyback program.
It would be pure nonsense to not do buybacks as much as possible with our share price at these depressed levels...Have a look what buybacks have done to the share price of dozens of small cap and mid cap commodity producers. One single example : Athabasca Oil (ATH) never paid a dividend.
“Right now, we are at risk of the North Sea oil and gas industry being wound down through rhetoric, rather than strategic policy. If this continues unchecked, it will be as chaotic as it will be economically damaging. Discretionary capital will continue to move overseas, the transition will stall, jobs lost in their thousands and a world class supply chain built up over decades – much of it in the North-east of Scotland – will go.”
https://www.energyvoice.com/oilandgas/549213/confused-rishi-sunak-refuses-to-shoot-down-tory-windfall-tax-extension-claim/
The sheer arrogance and stupidity to even consider extending the EPL until 2028 -let alone 2029- especially for a single sector that has had the most diffult of times for years...
100% agree with Dumbly : Spell out what will happen if the EPL is left as it is (forget extending it). Which projects won't happen. The economic, jobs/social, and emissions impact.
You don't say "thank you" to someone who kicks you in the nuts after you 've let him benefit for years.
Thank God we have the tax credits.
"Bit of a strange thing?"....Not really when your sector has been made a sitting duck for shorters by ESG-politics. But is not a clever thing to keep shorting profitable companies trading at already incredibly compressed valuation metrics. Sooner or later they will eat crow. https://seekingalpha.com/news/4072776-oxy-apa-most-shorted-sp-500-energy-stocks-at-january-end-cop-slb-least-shorted
Did not earn it from the markets, but made it bigger from them. I don't find it difficult to leave the markets for months, i love the outdoors and nature much more . And have slept for many many years in a tent since i left the job.
@Stupmy : Stopped working many years ago at the age of 36. I don't need to watch my PF every day/week/month. 4-5-6 months a year i live outside without internet connection. But when i am home i read a lot about the markets that interest me.
@Stupmy There is no aggression. If you lived the March 2020 oil collapse you know i am not lying. It did not happen once. Not a dozen of times, unfortunately. Whichever nat gas and oil producer you bought in the through on the Canadian or US stock market rallied that much... A giant like CVE went down 40% in a day and jumped tenfold since the deepest point. AR went up 20 X. Those are not penny stocks.....