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Seems obvious to me now that the transaction was purely to generate fees and salaries. Buy high sell low. Fees pay just the same. Outrageous really.
Perhaps downing tools is the only way for the public to understand the harm that this tax and policy will do.
We have to wait for production growth from existing profile. Kraken needs to get back to drilling.
I wouldn’t be surprised if other production assets are picked up by Enquest this year to accelerate tax loss use.
BTFATH1- they have used Puts so there is only downside protection. Enquest keep unlimited upside. So not really a negative!!
A good update…let’s see what the market and brokers think about it.
Get lost Troll
These guys have really had the shareholders tug them off.
I believe there is not enough kraken gas and therefore running on Diesel for the last few years.
Perhaps some flare gas recovery solution is being worked prior to getting Bressay gas import solution…say by 2026.
Why would Equinor get $30m…they relinquished any rights to agreeing a FDP when they relinquished their stake.
Bressay gas is key to decarbonisation of Kraken and removes reliance on expensive diesel bunkering.
You couldn’t Make it up.
Sell one asset to fund another. Then sell that asset too. Now left with nothing.
What an absolute disgrace this BOD and their cheerleaders are. Special mention to our ever cheerful Cperkins and Ariel Arrow.
None of these valuations are realistic.
Even our friendly “researchers” at Finncap reduced their valuation to 45p, and that was based on European gas prices of €110/MWh. Currently the price is €30…
We’re still basically talking about keeping the lights on sort of money.
Not only is it unpredictable, it arbitrarily punishes some participants and rewards others. Perversely the companies that are punished are the ones that add most value and are most committed to the UKCS. By doing this it disrupts the whole ecosystem and sends jobs and money abroad.
The tax has failed.
Cash needs to be returned to shareholders and the company shutdown.
Why would anyone let this company “invest” a single penny if their money again given track record.
Anyone who ignores what happened in 2020 is not credible IMHO. Tough decision had to be made to decommission assets that would otherwise have been viable for years to come.
Agreed - arrogant and recently making quite a few basic errors in his “analysis”
Any positive is quickly followed by a “but” or an “unfortunately”. It’s classic troll behaviour.
Thanks for your input Stevo.
Everything seems to be unfortunate in your opinion Stevo.
Cheer up Buddy!
You’re not still on the sauce are you?
Lol, unfortunately the mask has really slipped over the last few weeks Stevo.
This is great. We have just found an extra $20m that can go to the dividend or buy back fund.
Stevo - take a look in the GE prospectus.
I would be interested to hear your revised figures following the correction.