Member Info for nicktheglobe

The comments on Saudi Adabia and energy are not strictly correct.

Yes they have what is regarded as a very ambitious target of 50% of electricity from renewables by 2030 but electricity is only 15-20% of total energy use. So around 90% of total energy will still come from other sources, nearly all oil and gas.

ITH is making a lot of money from natural gas whose price is holding up better than crude in Europe, because of the low Middle East supplies, heat waves and low stocks coming out of last winter. ITH has not hedged its gas production, unlike with its oil, and I think gas is close to 50% of total production after the merger with ENI. So while sentiment is against all o&g at the moment, ITH would appear to have some positives.

Milliband's star appears to be finally waning.

https://www.telegraph.co.uk/business/2026/06/25/miliband-derailed-plan-to-use-north-sea-oil-to-fund-defence/

"Ed Miliband derailed a plan to fund Britain’s rearmament by ramping up North Sea drilling, The Telegraph can reveal.

A proposal to boost oil and gas production was modelled by the Treasury as fraught discussions took place between Downing Street and the Ministry of Defence over the delayed defence investment plan (DIP).

The Treasury is understood to have concluded that more drilling in the North Sea would generate enough tax revenue to cover a significant chunk of the £18bn sought by the Ministry of Defence for military programmes. The plan was backed by Rachel Reeves and presented to the Prime Minister.

However, a Cabinet source claimed Mr Miliband “vetoed” the North Sea proposal."

JHI have an interest in a Canje block off Guyana led by Exxon. They seem to have high hopes for this but nothing definite yet in results. I cannot find their share issue on their website but think it is around 95m from quoted stakes. I think Argos shareholders who bought at the death of Argos have done Ok

ENOG have substantial interests outside of Israel so will still be able to produce gas from these and get the higher prices.

The yahoo article is an advert for renewable energy, neglecting that such energy is inherently unreliable.

Is not oil heavily shorted at the moment? There must be some animated conversations at the trading desks.

I agree that Labour are unlikely to abolish the EPL in its entirety. But they may bring in changes to mitigate some of the effects, in ways that will be difficult for their supporters to understand. I'm watching the Scottish elections where both Labour and SNP are very much out of touch with the oil and gas workers in Aberdeen and elsewhere in the country.

It's been said a number of times now. This is not a typical distressed AIM raising of cash to keep afloat. It's investment for the future which will add substantially to our future value.

I agree Krakenoil. There are signs of shorts closing as Brent bounces quickly off $59 each time it falls this low. Not fitting with the 'glut' story are the US crude stocks, which are at the bottom of their normal range.

Looks like a classical "buy on the rumour, sell on the news" with stop losses exaggerating the fall.

I think the North Sea o&g is going to prove an excellent example of the Laffer curve, with tax take going from $5bn recently to close to zero in 2030 on OBR's own figures.

Labour have a problem with the ascendancy of the Greens. Expect any changes to EPL to be in the small print.

A correction.

FID does not require UK government approval.

I expect Mossad are already on the case. I'm not sure Argentina will want to mess with Israel's vital assets.

I'm with ii. Full quota of JHI showing today in trading account on desktop. On mobile cannot see the quantity as not tradable. Think we're going to do very well with JHI as Falklands oil lifts off.

The cracks are showing:

"Fall in North Sea tax revenue set to prompt ‘significant changes’ in Autumn budget, RSM says

As North Sea tax revenues continue to fall, RSM UK says this could put pressure on UK Chancellor Rachel Reeves's Autumn budget and Labour's ambitions for GB Energy."

https://www.energyvoice.com/oilandgas/north-sea/578519/fall-in-north-sea-tax-revenue-rsm/

There's speculation on the ENQ board that Ithaca are one of the placees. That makes a lot of sense from the Israeli perspective.

Have already had JHI shares credited to my Lloyds account and today ii announced that they were going to distribute JHI shares to Argos holders on basis of 0.03389 JHI shares per Argos share. So progress at last. JHI are not quoted on any exchange but their value should be fortified by the recent good news from Navitas (Shenandoah oil flow) and RKH (proximity of JHI/Arg acreage to Sea Lion).

Whatever the science and I for one do not believe climate science is a fully-fledged physical science because of its reliance on speculative and sometimes dubious modelling, there is little doubt that the Green's cure for our problems is woefully inadequate. Wind and solar are useful additions to an electrical supply but their density (energy/sq km) is far too low to cover for current needs, let alone future needs including AI and EV. The Green's failure to promote nuclear power will be seen as their major shortcoming. It take a decade or two to build nuclear plants. So fossil fuels, particularly gas, are now guaranteed high levels of usage for many years to plug the gap. And unless we're going back to the stone age that's the current story.