Member Info for mrc_mrc_mrc_mrd

Lol I liked this

“We thought long-term meant years or decades, but it seems to have meant just a few weeks.“

Anyway, onwards and upwards. We got a few dollars more for our oil today. Summer on the way and inventories still dropping.

Yep, I wonder if we would be in a different place if he hadn’t made that idiotic cash machine comment.

BP have said they are reviewing their investments. Bloomberg are quite scathing.

L3 - I think we have all said that ENQ will pay some tax.

Infill wells will qualify. Anything classed as Capex by ENQ will likely qualify.

Work overs may not. Day to day maintenance will not. Lease costs will not. Diesel to run Kraken will not. However some of what ENQ class as Opex may qualify.

There may be some exceptional revisions but they have not been quick to do this, and in theory these elevated prices are not expected to continue. The new tax will also impact the economic case for existing assets so it may all come out in the wash.

Think we might see another 10% step down next week.

Where is the funding?? And where are the deals??

Lol KO - why would it affect TLW?

Romaron - my understanding is that it will be less than that.

Suppose we invest £100 million in qualifying activities. Our taxable income will be reduced by 80% of this figure. So in your scenario taxable profit would be 220 million at 25% rate. I’m guessing a large part of our Capex would qualify.

SEAV - it won’t be as bad as that - we have our biggest investment planned since 2014. Some of this will reduce the tax liability

What is a qualifying investment for the allowance? Do opex and Capex both qualify (minus Malaysian).

I am assuming ABEX does not as they have specifically said it won’t.

Guessing a lot of spreadbets got closed out to drive that little crash

HBR is also flat and they are mostly U.K.

Some of this drop is due to our size I think. AIM listed SQZ worst affected…again a chunk of that is probably AIM affect. Also gas prices coming down.

I’m not “shooting” you AA.

Merely commenting on the quality of your research if you think AI generated content on simply wallstreet is worth something.

Lol AA - hopefully some better analysis than “Simply Wallstreet”

Hopefully we will get some analysis of the overall impact on profits. Market seems unconcerned at the moment.

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

I believe we can’t use our previous tax losses.

It would be hilarious if Boris is just trolling everyone with this windfall tax. Get everyone all amped up about a u turn then don’t do it.

Not long to wait now, but either way uncertainty will be removed and I suspect we could end up blue today.

A Boris distraction tax. No way to run a country.

KO still trading ENQ I see

Lol some very lazy ramping