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Well that could as you suggest now accelerate CHAR PV / Hydrogen projects ... maybe 'releasing' all or vast majority of our Transitional Gas interest will fund this next evolution and step-change of our renewable's.

Most PI's, I suggest, are here to see returns from our Moroccan gas project !

aimo & dyor

I would have thought ONHYM would want / need production up and running asap. Someone is not playing ball atm, or so it appears.

George, Julian, Adonis you really need to get the project momentum back again, now your mates are sorted, let's see those RNS's flood in, beginning at 8am on Thursday 3rd August.

aimo & dyor

"wouldn't Mercuria need 75% of shareholders to take Serica private?"

Yes BUT CRUCIALLY ( in the case of schemes of arrangement), only 75% of votes cast therefore, Mercuria would only want circa an additional 20-25% of share capital issued to back them and could easily be a done deal. Institutional investors will sell their gran for a quick buck, probably throw in grandad for free too .... My guess is Mercuria are already working on that required percentage between now and them making their move.

There is more than one way to skin a PI ...

aimo & dyor

75% of VOTES CAST is required.

NigeCo,

"I'm not sure that an investigation could block Drahi owning 29.9% as they have already ruled that he was ok to hold 24.5%. Any thoughts on this?.."

Agree, still below forced threshold for mandatory offer and already been deemed to be no threat to national security at 24.5%.... moving to 29.9% would make no difference imo.

For sure, Drahi (Altice) would already have 'friendly' holders of BT that would side with him should he make a move on BT. Not sure we would see him publicly move to 29.9% unless Drahi really will make a move shortly afterwards.

Having control of 24.5% of voting right almost makes anyone other than Drahi a none starter for an approach given Drahi in effect, has virtually, a signed, sealed and delivered 'blocking' vote. Move that 29.9% and there would be zero chance of anyone else taking-over BT unless it's on terms agreeable to Drahi. Hence why BT valuation is stuck in a rut !!

aimo & dyor

MM, thanks.

As for, "eye watering amounts for what's is a heavily depreciating and risky asset!" agree, love to see their business model on making a return ... guess, sometimes it not about your return, more a case of cornering the available 'supply' and stopping your competitor get the edge. Control the asset, you control the narrative, something the Saudi's have been extremely proficient at with hydrocarbons.

aimo & dyor

No Limit $$ when it comes to something Saudi's want :

Kylian Mbappe: Al Hilal 'make £259m offer' for PSG and France forward ....

No Limit $$ when it comes to something Saudi's want :

Kylian Mbappe: Al Hilal 'make £259m offer' for PSG and France forward ....

CNR International a Canadian oil company.

CNR .... for its NS Assets but for me, would need to be bargain basement price, plus, more importantly, decomm left with CNR.

ICB888,

"I am hoping that Anchois news and the prospect of our onshore drill( that’s what PRD are doing) will see CHAR up 100% .."

For me, 100% increase from here would be min to look for .... As NigelH intimated, CHAR and PRD are two different animals in the same Zoo enclosure. One is a wily old fox, other an established Vixen preparing to raise its young, just need the right partner.

Of course, need those pesky placings out the way first.

aimo & dyor

It's back again ..... you all know what to do.

Thanks in advance.

VOD tankers is coming about, discard those life-jackets and slap on factor 50, VOD is about to hot up !

I wonder if CNR could be an interesting venture with 65mmboe possibly up for grabs given SQZ area of proficiency !

As for Norway, 'NO WAY' would it be acceptable imo for SQZ to go after assets that may produce by 2029 !! We really need instantly accretive $$ acquisitions, not CapEx intensive atm.

aimo & dyor

"But David Whitehouse, chief executive of Offshore Energies UK, the oil and gas trade group, said that 200,000 high-value jobs were at risk from shutting down the North Sea industry.

“The figures are clear: the UK has 283 active oil and gas fields but 180 will shut down by 2030. If we don’t replace them with new ones, then production will decline much faster than we can build low-carbon replacements,” he said.

“There is no simple choice between oil and gas on the one hand and renewables on the other. The reality is that to keep the lights on and grow our economy, we need both.”

"Energy minister says Britain has ‘no option’ but to extract remaining fossil fuel reserves to ensure energy security"

https://on.ft.com/3OrpYvW

Https://www.ft.com/content/407b834e-a503-4de9-acab-fcf88d76dbb3

aimo & dyor

Latest Common debate around NS :

https://hansard.parliament.uk/Lords/2023-07-19/debates/DFB48751-1BB5-4EE2-A7AF-1578C65C7CE7/OilAndGasWindfallTax

... so far !!

So Labour's points 1 to 3 are doable (if lucky), atm, points 4 to 10 are cancelled !!

Because they have now revised figures, expecting North Sea levy to drop ~40% from previous estimated revenue to ~£26bn from £40bn . I would also suggest that these figures will get revised down further as we import more, fields naturally decline and no new fields come online with available CapEx re-directed overseas too.

They need to encourage investment that in turn will raise returns for the treasury, play the long game rather than stealing the sweets from the rich boy in the playground for a quick sugar fix.

aimo & dyor

NQM,

Could HBR have come back to the table too ?

https://www.reuters.com/business/energy/shell-energy-transition-prompted-talks-sell-norway-business-2023-01-10/