Member Info for ocelot

European natural gas surged as much as 60%, exceeding this winter’s record as supply fears were compounded by traders trying to avoid exposure to Gazprom PJSC’s trading unit. (from Bloomberg)

£1,900 of electricity bills now, £3,000 or more after the next cap revision?

Just look at front month natural gas prices this morning, up about another 35%:

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5253318

Front months up about another 35%:

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5253318

The Loxley appeal was submitted on 10/02/21 according to the RNS of that date.

Just to elaborate:

there is a difference between the present and the future, between current production and prospective production.

gwilliams71,

I refer you to my previous explanations when you have posed this same question.

The global oil market is suffering what’s starting to look like the biggest disruption since the 1990-91 Gulf War.

A large chunk of Russian crude and refined products exports are not finding buyers now and signs point to even more trouble by next week. Brent and West Texas Intermediate crude have surged above $105 a barrel for the first time since 2014. In late trading in London on Tuesday, WTI was up more than 10% in one of the biggest one-day spikes ever. More importantly, yardsticks that measure the short-term tightness of the market are surging. The price gap between a barrel of Brent delivered now and one in one year has widened to more than $13.50 a barrel, the largest spread since Saddam Hussein invaded Kuwait almost 32 years ago.

The situation calls for emergency measures, akin to those deployed by central banks during the 2008-09 global financial crisis, to overcome the supply shock. Here are six key points:

*First, a problem traders call “self-sanctioning”: Market participants are simply refusing to deal in Russian oil, even if Western governments allow it within the sanctions they have imposed on Russia for its invasion of Ukraine. The reasons include confusion about what’s legally permitted, fears about reputational damage, or moral objections...

https://www.bloomberg.com/opinion/articles/2022-03-01/six-things-you-need-to-know-about-the-russian-oil-shock?cmpid=BBD030222_OEU&utm_medium=email&utm_source=newsletter&utm_term=220302&utm_campaign=openeurope&sref=Em01M8Hr

Ibug,

Inflation up, Turkish lira down, agreed, but the key figures for the project will be in $.

Brent jumped above $110 to the highest in almost eight years after a decision by the U.S. and its allies to release emergency crude supplies failed to assuage shortage concerns. "We are already experiencing constraints on Russia oil without any formal sanctions. It's hard to see what OPEC can do," said Daniel Hynes at ANZ. OPEC+ is expected to keep the pace of output increases gradual when it meets today. (from Bloomberg's morning round-up of news)

Not if you're interested in the company's prospects.

At $110, on the basis of the figures provided in the first SE Turkey RNS of 23/07/20, the prospective operating margin becomes $95, almost 4 times higher than that anticipated at the time ($25).

$110.30

$107.44

Front months closed up about 25%:

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5253318

Success breeds success - get the share price up, placings become easier to get away and less dilutive, cash is in the bank with which to accelerate investment programmes.

The market can help to create success if it believes in a company's prospects.

So it's not just about the results of one drill, as always, it's about how the market interprets future prospects.

Success would be measured in terms of the share price and market cap (as far as I am concerned).

Nice potential profits, in the event of success in SE Turkey.

WG818,

I've not looked at AEWB No.3 Limited's accounts but a subsidiary can always be spruced up for sale, if necessary.

WG818,

The tax losses are located in AEWB No.3 Limited. If, therefore, ANGS decide to sell their interest in Saltfleetby together with the tax losses, it is AEWB No.3 Limited they sell, a subsidiary of the group.

The group, of course, continues, in a different shape and, hopefully, with much more cash in the bank.

... and the £16/18 million tax shield that won’t be available to anyone else without taking the whole company lock stock and barrel?
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The subsidiary in question being AEWB No.3 Limited.