Member Info for NewKOTB

"... any company such as Shell would be mad not to look at this as well...."

Absolutely and we may not have long to wait imo, after all we were sat at almost double our current SP a little over 3 months ago. Offer of circa ~ 300p would probably do it. RNS due this week which is bound to give us a boost, or so it should !

aimo & dyor

Not interested, bye !

At the moment NS tax revenue is falling despite producers being taxed at 78%. If I recall when Sunak first floated the idea of EPL it was due to end 31 December 2025 so this in itself would give an 'U' turn opportunity for Labour. As the shutdown of NS production accelerates and investment dries up so to will the current cost to the Exchequer liable for decom expenditure currently estimated to be £10.8 billion to HMG grow. Add on to this lost taxation within supply industry and you can see how the NS only has a matter of years left to live, hence so to has the current EPL imo.

EPL will be gone in its current form by year end imo, it has to !!

AIMO & DYOR

OilViking1,

Don't worry yourself over your Enquest failed RTO. If the results of the consultation are favourable or better still, fully ditch EPL and revert back to std 40% tax ( higher than all other major industries btw) then with a weakened Enquest SP, Serica could well takeout Enquest themselves on their terms this time around. Serica have already done significant DD over the past few months I guess so would be well placed to strike should conditions be to SQZ advantage.

aimo & dyor

"can anyone explain the dip can’t be because of the failed merger....."

Traders looking for a swift profit caught out on release of RNS knowing no instant windfall was coming their way, exited, hence SP fell off a cliff but recovered well, your 122p is an excellent entry don't be to quick to cash in your profit either imo.

aimo & dyor

The issue we have is the UK Net Zero calculation DO NOT include imports of O&G so by stopping domestic production your 2050 NET ZERO figures suddenly become a realistic target. Domestic production is included in these calculations, so HMG stop gaslighting the UK public and tell them the REAL COST to the planet of imported energy. We now also have a lunatic UK approach to justifying emissions on a per barrel cost in the final use stage, tell me why a barrel imported and used will be any different to a barrel extracted from the NS once consumed !!

Simply change the way UK net zero is calculated and bingo, NS production will be back in vogue, not to mention significant carbon emissions reductions too.

Steve17, voices are getting louder (about time) and we need more of these article to educate Joe Public too, otherwise we will see JSO phoenix rise to terrorise art galleries, historic site, roads and rail once more.

aimo & dyor

We could go after them now, just let their SP weaken further !

Triton back on-line soon, mgt should issue ops update on progress now this RTO is out of the way, plus we have no tax to pay given we over-paid on last installment too. Plenty of cash and looking forward to +8% divi payment that's safe as houses in July. Our SP has been rangebound since the Enquest approach, time to make progress once more.

aimo & dyor

Goods news, lets go and get a real deal done and not some farce of RTO

Https://www.londonstockexchange.com/news-article/ENQ/rule-2-8-announcement/17019087?showDisclaimer=true

"The shares are below our 272p total risked NAV..."

I would say that's conservative given we were above that level little over 3 months ago.

aimo & dyor

I would have thought that shorter's like GLG et al will be closing out some of their positions given that super-majors are showing improved earning growth this quarter. Shell being the latest supermajor to announce earnings growth in first quarter at almost x2 previous. I'm confident that HBR will show significant growth too.

aimo & dyor

Sekforde, agree, tax losses are the big draw, however we don't know how / if these will be utilised under the new fiscal regime, if not then we are best staying as is and forging another path forward. Big gamble atm is with the unknown fiscal regime which will probably replace EPL as it's looking more likely that early termination of said EPL may occur the way prices are falling, gov will not want to revert back to pre-EPL and loss of taxation so they will introduce the new regime this year imo.

aimo & dyor

Well, never in a million years thought we would be sub 150p at all time low. In little over 100 days since 17th Jan we have lost 50% of our value, just before Trump came into office. If Trump is correct and the US will BOOM, then logically so should O&G players as world economies recover from Trumps madness.

I really don't understand how no one has made a play for us yet, surely once BASF are off our backs then someone will strike, question is will HBR be in a strong enough position to fend them off ?

aimo & dyor

Tweet, " will be developed in stages..." WILL BE, pretty confident aren't they !

"Issuer Default Ratings -BBB - Good credit quality

'BBB' ratings indicate that expectations of default risk are currently low. The capacity for payment of financial commitments is considered adequate, but adverse business or economic conditions are more likely to impair this capacity."

https://www.fitchratings.com/products/rating-definitions#about-rating-definitions

Yep, just need the UK gov to grow a set and tell the JSO go do one and stop pandering to these law breakers !

The O&G industry is currently consulting with UK gov on new legislation to replace EPL, the one good thing Trump has done is to dispatch Net Zero into the bin and drill baby drill. We do of course need to transition but the way our Gov and others have gone about it was flawed from the beginning. Lets hope for a total re-set to Net Zero and have an actual viable plan going forward. First we need to dispatch Ed to the bin too.

So long as our proposed merger is still able to benefit from tax losses accrued in the new taxation format then I would have thought the deal will go ahead, further extension will probably be requested so as to ensure this is so under the guise of more DD needed !

aimo & dyor

"BP made a profit of $700 million in the first quarter of this year, compared to a $195bn loss for the fourth quarter 2024...."

That headline should give us a boost, $195bn loss !!

https://www.energyvoice.com/markets/energy-finance/571746/bp-q1-profit-strategic-reset/

WTF is going on with reporting with ZIOC, not only do we have both delayed and late trades but now trades apparently being cancelled from early last week, beyond belief these trades are allowed to be hidden for days !!

Date Time Trade Prc Volume Buy/Sell Bid Ask Value

25-Apr-25 12:19:42 8.20 100,000 Unknown* 7.72 8.98 8,200 O

25-Apr-25 12:19:42 8.20 -100,000 Unknown* 7.72 8.98 -8,200 O

23-Apr-25 09:11:00 7.61 26,451 Unknown* 7.72 8.98 2,013 O

23-Apr-25 09:11:00 7.61 -26,607 Unknown* 7.72 8.98 -2,025 O

23-Apr-25 09:11:00 7.61 26,607 Unknown* 7.72 8.98 2,025 O

23-Apr-25 09:11:00 7.61 -26,451 Unknown* 7.72 8.98 -2,013 O

23-Apr-25 09:11:00 7.61 26,451 Unknown* 7.72 8.98 2,013 O

23-Apr-25 09:11:00 7.61 -26,607 Unknown* 7.72 8.98 -2,025 O

“ If we’d had a 2m sell it would be going the other way.…”

It was not only a late but also a delayed trade from previous day so almost impossible to call it, however we had a noticeable tick up prior to the avalanche ( for ZIOC ) of AT trades that continued the positive momentum throughout Thursday afternoon. For me it was a buy that had been executed over several days.