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BB,

These clowns are just that ..... atb

Certainly more than a whiff of confidence pulsating through the veins of DARK's SP today. :-)

Last week Berenberg raises Harbour Energy price target to 250 (240) pence - 'hold'

On what basis is the cut .... we have rising Brent off the back of Saudi cuts that have gone deeper and longer than any analyst expected, NBP stable and probably to rise given strikes and entering into winter, buybacks continuing more than likely and FCF of $1.0 billion, oh and zero debt, down from $2.9 billion in under 18 months .... the only fly is EPL.

AIMO & DYOR

This is type of price manipulation that HBR should be reporting themselves, not leave it to PI's.

It's as if we just released YE results that shown HBR are no longer a going concern and are bankrupt, wtf !!!

I would rather HBR not issued any dividend today in hindsight.

Plus point, is, we are still in rising channel .... only just !

aimo & dyor

All my other O&G's are either up or very slightly down, but nowhere near HBR's circa ~ -7p (~3%) taking into account dividend today. HBR is once again at the mercy of shorter's algo's, rinse and repeat for them, easy money !

aimo & dyor

"Environmental services firm Stepwise has announced a pilot project with North Sea operator Serica Energy to reduce emissions from offshore oil and gas wells.

The Stavanger-based firm will use its cloud-based tool at the Burce and Keith fields to plan, monitor, report and verify improvements in operational emissions.

Work will start with a light well intervention campaign in Spring 2024, using the Helix Well Enhancer Vessel.

Stepwise said the cloud-based software will amplify London-listed Serica’s own emissions reduction action plan and produce “significant advances” in Scope 1,2 and 3 emissions..."

Kokomo,

Agree ....

The NS is no longer about O&G exportation and development, it's a pure accountancy exercise now, capital deployment and efficiency is the only game in town. In other words, a £ spent in the NS is worth less than virtually anywhere else on the planet given said risks atm. Hence corporate restructuring that's currently underway at Serica to make use of TW's tax losses across the whole of our asset base and one would hope SQZ looking at acquisitions outside the reach of HMG cash grab. atb

aimo & dyor

Kokomo,

"No share buybacks here today??.."

...and yet we managed to finish up on a market down day, I'm happy with that.... save the cash for another day.

Clarking,

Hands off my cherry !

What more do you want from these results, afaic DARK are in growth mode as such results are imo better than I would of expected given how young, relatively, DARK is.

If anything, today's SP action should convince our board to de-list on FTSE and move to the good old U S of A.

aimo & dyor

It's a sad day when 3,946.5% increase in net profit to ~$59m and 31% increase in revenue to >$0.5bn results in the SP being hammered .... guess that's the result of being on the FTSE and allowing shorting of compaines to go on unabated.

Remember, these results have been published off the back of a full investigation into DARK's accounting practices by EY only a month or so ago .... so what I see in these results is a company in growth mode in a market that is set to expand for some time to come.

Well done Poppy et al.

aimo & dyor

Analyst and Investor Webcast

Management will hold an analyst and investor webcast on our FY 2023 Results at 13:00 (UK time). Please register here: https://brrmedia.news/DARK_FY23

Thanks for the link ....

"The allocation of capital was far from ideal; the lack of a reference shareholder meant that the management did not bother to seek the best conditions given the circumstances (for TW deal)..." plus "there was a very attractive merger offer from the shareholder's perspective by Kistos PLC .." Don't we all know it !!!

Interesting one, lets see how this pans-out and how long before Labour spot this 'loophole', "The company is also working to reorganize internally so that the tax losses can be applied to all of the company's assets from 2024 onwards, not just those coming from Tailwind...", plus "A change in the corporate structure that will place all of the company's assets under the umbrella of Tailwind's tax losses. The company is already working on this, and it is expected to be completed before 2024..."

aimo & dyor

Lol, Door, Horse, Bolted comes to mind ...

HBR should go all out to expand operations overseas, then, in essence sell our production back to UK with all the increased costs in terms of financially, energy security and environmentally that's associated with being forced down this road by HMG and Hunt/Sunak's attempted 'vote rigging' ridiculous EPL taxation.

aimo & dyor

Flexmw,

Afternoon, hope you are well and enjoying the Indian summer !!!

Yep, no more gas hedged, hurrah, just TW hangover from RBL on oil now, 11kbopd until end of this year then 5Kbopd H1, 2.7kbopd H2 for 2024.

Anyone like to provide estimate on our CoH right now .... tbh, I'm having trouble due to tax (esp EPL) payment dates and indeed how much tax per se. With H1 results due soon, be interesting how the much the coveted reduction in tax would be coming our way due to TW deal in using their "significant UK ring fence CT losses of $1.4 billion, Supplementary Charge losses of $1.2 billion and US$0.1bn Energy Profits Levy losses". Guess we may only be able to utilise these from 23 March 2023 ? If so full benefit will be gained H2 along with as you mentioned Flexmw, improved situation of gas hedging too. So YE 2023 results could be tasty to say the least.. ;-)

PS would like to think we also made significant reduction in our TW acquired debt position, as per HBR who reduced theirs to zero.

aimo & dyor

Guess these posters are spouting rubbish about anything and everything but nothing worthwhile about HBR, hence why I have my filter packed with these idiots.

Strong Brent and NBP steady ( probably rise now Chevron's LNG pay voted down ) plus bumper ex-dividend to look forward to next week.... all looking up in the HBR camp atm.

aimo & dyor

Don't forget Ithaca ex div tomorrow with yield of >7% (~14% pa) atm. Then we have the likes of HBR, who go ex div next week, in comparison pay a 'tiny' ~4% yield (~8% pa) !!! (lol)

Appears NS oil co especially one's linked to PE like to pay big dividends given current EPL climate.

aimo & dyor

Sasa,

Morning,

We are yet to find out how 'leaky' Mercuria are, we know a deal is on the horizon, just don't know with whom or when.

"small 'sells' followed by small 'buys'..", same MO been happening for weeks on HBR .... !!!!

Noted a bit of an uplift in CHAR in recent days too, hummm !

So long as our SP is going in the right direction, all is well, may even get back to 278p on announcement of TW deal !!!

aimo & dyor

"French mining group Eramet has reportedly "stopped" operations in Gabon following the takeover by the army.

The company said it had halted work “for the safety of staff and the security of operations”, the AFP news agency reports.

The company employs about 8,000 people in the mineral-rich country, a former French colony.

Its subsidiary extracts manganese ore from the Moanda mines, the world's largest manganese mines. The mineral is used in steel-making and batteries..."

Dickupham,

Glad to see your SoH is in full flow (lol), hope you are keeping the old pecker up !! ;-)

It's comforting to know as from April this year banks have not escaped Gov cash grab as they will be charged an additional massive 3% rate on their corp tax for profits above £100m, goodness knows how they will cope !

I say, extract as much cash from NS with minimal CapEx, invest overseas (Cameroon sounds ideal btw) pay massive dividends then let the rats of UK Gov go down with the ship.

Said it before, much better way would have been forcing the additional levy of 35% tax to be directly invested into renewable's / green's rather than wasting it on handouts which is exactly where the EPL will find it final home.

aimo of course & dyor !!!