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JWB, you have posted 3 times this morning, asking the same question, may I suggest you email AA, he's always forthright in his reply's.
aimo & dyor
This is the guy we need as our CEO ....
https://www.lse.co.uk/rns/KIST/uk-onshore-gas-storage-assets-maikodedz5bqd5a.html
aimo & dyor
Good deal afaic, why spend £25m on O&G extraction at EPL tax rates when you can bypass that and still trade the commodity, thus more profit.
aimo & dyor
"first thing that the company should have done once epl hit was to diversify overseas.."
Yet Mitch decided that the TW deal was still a good one !
When you get to the situation when you are hoping for a bid then things are getting desperate. We will soon have the 12 months up since deal and then the 'founders' can begin to sell their shares too.
aimo & dyor
Don't think Mercuira will be too worried about the persistent weakness of our SP, in fact they will be rubbing their hands to see a once great company fall from grace, that's AIM for you. Shark infested waters !!
aimo & dyor
Morning Mommur,
I do recall reading on the official GOV.UK site that these 'floor figures are now linked to inflation, not sure what measure of inflation that is but I do remember seeing it, somewhere or then again it could be the same as I saw Kylie Minogue in my bedroom the other night, who knows !!
That said, given it needs both oil & gas to be at an average below these figures for 6 months (I think that's the criteria) there is not a cat in 'ell chance of it ever being invoked.
As for having the industry "over a barrel", should that not be 'over a boe' !!!
aimo & dyor
SOS,
Good question, I'm guessing that SQZ will be 'gambling' on all outstanding allowances not being void and indeed not being taken off the shelf totally going forward either.
That said, should CapEx be as stated then at this time next year we should be well on the road to seeing significant improvement in production. Something Mercuria would love to see as it makes their job a whole lot easier not least more $rewarding$ too come the T/O.
aimo & dyor
Why Invest In UK O&G, When you Can Invest in Morocco :
"The fiscal terms in Morocco are restricted to a 5% State royalty for onshore gas, 3.5% offshore (see notes below), applicable after the first 10.6 BCF of net production to the operator, and corporation tax charged at 31%. However, there is a 10-year “holiday” before corporation tax will be charged and any unused tax losses can be offset against the tax due. There are no signature bonuses but production bonuses in the form of cash payments exist with a maximum one-off payment of US$5,000,000 on production greater than 30,000 BOE/day. A discovery bonus of US$1,000,000 is also payable..."
Notes applicable to Gas :
No royalties for the first 300,000 tonnes of production from concessions located onshore or offshore at less than 200 metres depth.
5% royalties on production in excess of 300,000 tonnes from concessions located onshore or offshore at less than 200 metres depth.
No royalties for the first 500,000 tonnes of production from concessions located offshore at more than 200 metres depth.
3.5% royalties on production in excess of 500,000 tonnes from concessions located offshore at more than 200 metres depth.
Of course ONHYM already have 25% !
I believe these figure are accurate, if not, please feel free to correct them.
https://hydrocarbons.onhym.com/en/incentives
aimo & dyor
"One thing which does stand out to me is why now. I just wish that they had all done this after the Tailwind deal was finalised."
More so Upomega, they would feel the pain, something that us PI's know all too well since the TW deal.
aimo & dyor
Dick,
Understand that £4k is a tiny amount and why bother indeed, however in her defense, that's £4K more than majority of BoD & Mgt have committed of their own cash so far, from little acorns and all that.
atb
So who bent his arm, clearly been ‘asked’ to support the buying of shares, why else after 17 years has Mitch decided now was a good time. More to this buy and of course recent RNS of him moving aside than meets the eye.
Aimo & dyor