Member Info for NewKOTB

"but then I just apply for the 10% of the wife allowance .."

Do it now, you can backdate a claim up to 4 years and HMRC will automatically work it out for you, literally nothing to lose, really easy process too. Simple online form, takes a few minutes and bingo, you receive a chq or bank transfer within a week.

UK Treasury minister James Murray prepares to meet with oil and gas leaders in Aberdeen today....

https://www.lse.co.uk/ShareChat.html?ShareTicker=ITH&share=Ithaca-Energy&thread=CA33E4FF-70FE-49FE-9C0F-4AE61921728D

Yet another Example of Labours Lack Of Understanding, it's not just O&G !

"The government is preparing to limit the amount landowners can receive from selling green belt land, handing councils the power to cheaply buy up land that previously would have been ineligible for development as part of its plan to tackle the housing crisis.

In areas with the greatest housing need, landowners could also find themselves penalised for refusing to sell land. Councils would be able to force them to sell land at a “benchmark” value – which would be lower than the market value of similar sites outside the green belt..."

https://www.msn.com/en-gb/news/uknews/labour-prepares-to-limit-landowners-gains-from-sale-of-green-belt-land-amid-push-for-new-homes/ar-AA1oFnxk

Mommur,

Not the first and probably not the last with Labour appearing to sweep aside all regulatory barriers in pursuit of Net Zero.

https://www.petitions.net/saynotoroutec1

The Company is pleased to confirm that as a result of obtaining shareholder approval for the Fundraising, which comprised an oversubscribed Placing and Subscription and an oversubscribed Open Offer, Chariot has raised a total of US$9 million (£7 million) through the issue of 106,704,899 New Ordinary Shares.

The net proceeds of the Fundraising will be used as follows in order to:

· Strengthen the balance sheet to continue to progress and deliver value from Chariot's portfolio of projects

· Secure a material new venture opportunity with multi-billion barrel potential

· Progress onshore gas commercialisation plans in Morocco to build a gas to industry supply

The Company has applied for admission of the New Ordinary Shares pursuant to the Fundraising to trading on AIM. Admission will occur at 8.00 a.m. on 14 August 2024. On Admission, the Company will have 1,180,884,055 Ordinary Shares in issue and there are no shares held in treasury.

Https://www.insider.co.uk/news/gmb-brindex-tell-uk-government-33443774

Massive Share Shuffle, all matched trades..... interesting !

Oh, hope you guys have locked in decent fixed deal from your energy suppliers already, looking at how NBP has been trending recently bill are likely to go up substantially next 6 month or so. Downside is Labour will be looking to spin the narrative for a 'proper' windfall tax once more off the back of higher energy bills and an excuse for CapEx allowance reduction.

aimo % dyor

One thing that we haven't really considered is for SQZ to pivot away from fossil fuels into renewables. Could we be looking at pre embryonic period of our first venture into this space I wonder, hedge against future tax demands !

Sure there will be gov support for investment in this area with significant tax breaks as UK Gov really needs this Net Zero malarkey to work, even if it's just appears to be working, as seen to be by Joe Public.

I mentioned in earlier posts that the logical way forward is for +100% tax breaks on investment for O&G in to renewables.

https://seatwirl.com/

aimo & dyor

When a country is desperate for cheap energy, coal is by far the cheapest and easiest to produce, with shortest lead times too especially when it's on your doorstep that also provides employment and associated supply chain benefits.

"No intention of making an offer" ..... does not however stop him :

Making a counter offer should the occasion arise before 6 months are up.

or

Begin discussions (or already doing so) with the intention of making an offer +6 months down the line.

or

Continue to build position.

Prime takeaway today is, with c24.5% of the issued share capital, he now has full control of the company in terms of a blocking vote. A sale to him or ANO will ONLY occur with Bharti Global blessing.

White knight or black, you decide.

aimo & dyor

Answer : Unequivocally so.

Yes, ZIOC is now the owner of 100% of the 'Zanaga Project' but remember that Glencore has 'control' of the company with ~43% of the issued share capital, as such the ball is firmly in Glencore's court.

aimo & dyor

How dependent is the UK on UKCS ?

https://assets.publishing.service.gov.uk/media/667c10e3c7f64e2342090065/Energy_Trends_June_2024.pdf

We discussed Sval ages ago ....

Mommur,

Think it was up for ~$1bn inc debt of which if I remember was pretty high. They are mainly non-operator fields although they have decent production ( I think) circa ~60kboepd, could be wrong though. We discussed Sval ages, pre TW deal when SQZ had wads of cash and if I recall we thought it was out of the question due to low 'operatorship' and high debt, both of which were no-go areas for our board at the time, however, new board and all that, who knows.

aimo & dyor

08-Aug-24 08:03:17 5.954 600,000 Unknown* 5.32 5.98 35.72k

Yep, as I suggested looks like yesterday big buy order filled today that was reason for +10% close.

aimo & dyor

"Revenue of $1.9bn (H1 2023: $2.0bn) and EBITDAX of $1.2bn (H1 2023: $1.4bn)

Profit before tax of $0.4bn (H1 2023: $0.4bn); profit after tax of $0.1bn (H1 2023: loss of $8m) with an effective tax rate of c.85% reflecting Harbour's current UK concentration

Free cash flow of $0.4bn (H1 2023: $1.0bn), after $0.1bn of acquisition-related fees, resulting in a small net cash position at period end"

---------------------------------

Steady as she goes.

Yes, lowest of the day outside the first 5 minutes of trading this morning and tiny blip at ~9:35. Guess, we have a few heavy hitters that are not to convinced about tomorrow. That said it's starting to get predictive as this is not the only time recently where we have given up decent gains throughout the day going into close.

aimo & dyor

Yes MM, very strange, we moved up ~9% just BEFORE the close, with auction UT taking us to +10.48%. Guess we could have a buy order being filled over several sessions maybe or a fat fingered friend !

aimo & dyor