Member Info for onedb

agree Oxygen not that we matter anything

I get it Romaron the trouble is you will see us import oil from abroad more and more and just like we have done for everything we have now outsourced our energy too . I mean are we going to outsource Buckingham Palace too ? To India ? I mean may as well .

I had enough with all this, whatever I say won't change anything but I will actively make sure I plan and eventually move out Country does not deserve hard workers. Taxation as a concept is flawed massively once you % and nominal are as high as today . They don't get it till many like me move by then its too late . So many French live in SW , for a good reason , they all moved away to avoid Hollandes taxes . they are now moving back with their high salaries as France is now seen as a better option . I mean what an own goal

Again each to their own . Long live UKSSR commie country which can't distinguish between a man and a woman once the real commies come to power .

Romaron

You said "onedb - so you think it's wrong for nurses, cleaners and carers to live near their work? I don't."

I commuted an hour to work for a long time ,You will simply not have a profitable business in building cheap housing in an expensive area as no builder will work for free .

Or you think people should work for free and the valuable skills learnt and took time to learn should be given away for free ?

Why don't you do it then . An hour bus ride is like 1.55 and you can find much affordable housing further out.

I did a lot more than an hour commute when I started out. Why can't others too ? Was I going to live in Kensington on a grads salary ? No . I had a shared accommodation with other mates in zone 5 . That is how life works .

Life is not free. Yet too many want handouts and live next door to work ? Wow.

Today many in London will have seen a massive tax bill . The 125k new threshold from 150k will cost 45% of 25k , Tell me where will the IT guys, project managers on big building sites , many in finance, law firms , doctors, accountants , you name it will get that £11.25k back from ? Demand higher wages ? Many won't get that or charge more ? probably But the hit will be seen on the high street and most stores will see the hit . I sense a brain drain and slow then faster exodus of talent. Tax is the biggest killer of wealth . I have never seen a country raise taxes in a recession .Never seen a country become wealthy via taxation nor attract investment .

But hey the consequences will be the greatest on the category you describe trust me , one the wealthy leave who pays ?

I've never really understood one thing . Is the tax on all profits or on those incurred say above a certain Brent or Gas price ?
As surely what is the point to hedge anything in advance ? Ie at 70 or 80 brent is pretty much average and what do they choose to determine average ? inflation adjusted price , 200 day moving average , a standard deviation ? 1 or 2 stan dev ? I mean this is all very subjective and wrong

So if as hedge fund manager one makes a billion in profit for the clients and takes say 10% is that manager seen as making profits subject to a windfall tax ? is the UK now saying profits are bad ? As this won't get anyone invest here they can kiss goodbye all the nonsense said in parliament today on both benches . Imagine if you have a profitable business with infrastructure that needs a lot of capex and time to recover despite great profits . Would you invest in the UK ? I think not

Spin,

I have run a property firm (am also an ex investment banker too), mostly development on the property side, I had to pay quite a big payroll of all sorts of builders, carpenters, painters architects you name it. Now building a home today comes at cost and what anyone in the industry knows is the wages of labour are high as labour is scarce and cost of material up, the idea we can build for free or under cost is a nonsense. Like wanting a Mercedes yet paying for a Vauxhall , those in charge are mad. So its best to build a lot less . Something some don't seem to understand.

Whether Labour or Tory these plans have always made me laugh like sticking estates in central London or wanting affordable living there. How about affordable living in Monaco or a nice council state with a view in St Tropez and all to be given a free Ferrari . Never mind the people who have to build these things and pay the payrolls etc Oh GOd forbid that for all the effort they make a profit

Seriously anyone clever will be looking to leave the UK as much as I love my country I hate it at the moment > Again am no Labour voter and neither agree with 90% of their views and have donated to charity all my life , that now ENDING

So agree with you BU--OCKS , lucky you can go back to bed am the idiot working 14 hours a day

I agree . Its up to us shareholders to demand we look to expand our Malaysian operations and direct investments away from the North Sea. As the message is clear, the UK prefers to import from abroad more rather than have its own operators ! Much like we have done with almost every other business or institution in this country . We sold out to all . Nothing will remain British anymore .
Personally believe we need to move the mix to avoid as much as possible this non sensical tax( theft)

Up over 2% over there, and they too are North Sea operators .

Priced in I agree but to believe this tax comes from a party that thinks they are for low taxation and want investments is so short sighted.
I urge all to write to Linda Cook to demand that not 1 penny is invested in the UK anymore other and we look at fiscally stable and welcoming jurisdictions

This tax won't hurt the headline companies , Shell , BP etc but only the North Sea ones who are NOT responsible for any wars nor responsible for slightly higher oil prices. Also what is this tax doing to hedged oil prices ? Shouldn't it be if oil goes above 100 we get more tax ? As if we make profits at 60 should those be taxed too ?

No this Jeremy Hunt and whoever supports him is incompetent and lost a voter as ideologically I could never be on the left. But now I will belong to the party that doesn't vote which makes the party the biggest in the UK

Well done to the message it sends out too.

At any rate HBR is very undervalued so now they should get on with it and move investments to stick to these imbeciles A laughing stock to global competitors

Well it didn't really do anything for Harbour Energy which produces a lot more gas .

The reason I was surprised is that Serica too will be subject to the infamous WT so why the other 2 ie ENQ and HBR don't move anymore with higher commodity prices but Serica did ? In absensce of any news . Have they realised something about the WT that we haven't ?

Why are we doing something similar ? Was there news that caused it ?

one thing I can agree on , Romaron . Demand for energy is inevitably up whatever the mix , oil is here to stay as we saw coal this year had demand and production increasing decades after we had allegedly abandoned it.

The trouble is that they don't understand rate of return in government and fail to understand rate of change too

They want to move fast to renewables yet at the expense of current energy supply which will see less committing as banks due to ESG etc will lend less to.

Who commits 10bn in a new project ? So the replacement ratio of all majors heads on average inevitably down leading to a spike in oil as supply diminishes, demand probably won't till at best 2030 if not 2035 .

Enquest is adding value everyday and reducing debt, this in spite of the fiscal nonsense.

This is not really reflected in the market cap as our increasing Malaysian presence and production may well be expanded (2 further infill wells to be drilled in 2H 2022) and out of reach of the greedy incompetence of those in parliament , both benches.

Whilst we may not fly to the higher targets I had in mind(at least for now) ,the share is basically trading around 1 to 1.5 P/E its EPS being pretty much the share price . One of the lowest PEs in the sector with HBR and ultimately even the reduction in the need for the new Bond offering is not priced in and should have been seen as a great thing .

As long as our CEO holds a lot of the stock and knows what he is doing when I re-read the recent presentation its obvious to me that Enquest is also diversifying into New Energy and Infrastructure and abroad . Green hydrogen and carbon capture , how much that will generate ?

There are a lot of positives as is the 0.5 target debt . Which when you look at the chart its been steadily decreasing year on year . THe company is well run and going in the right direction in spite of the fiscal headwinds

Always a good presentation to look at again

I'd be hoping to see Enq diversify away from the UK so to stick it to the imbeciles .
And lets not forget our growing Malaysian operations as they look promising

https://www.enquest.com/fileadmin/content/Presentations/2022_Half_Year_Results_vF.pdf

Frac we could move Enquest to the Moon's stock exchange , that won't do anything about where North Sea assets are taxed. Or where you implying we'd get a better multiple on the Nasdaq ?

Am disgusted at all this tax a Tory government will add so am fuming. So not trying to be harsh

BP and Shell are hardly affected by the tax yet the BBC likes to show headlines of multi billion profits none due to the thieves in charge at HMRC and government.

Yet the 2 oil companies most damaged are UK ones , what a country of idiots we have become . Our national broadcaster uses essentially profit headlines of foreign companies ( in terms of revenues) to stir up anti oil and gas opinion so that our own firms pay the price , If that is not worthy of Monty Python not sure what is ?

We are led by the stupidest politicians ever . Damage your own industry whilst cheating the viewers with profits of essentially foreign firms that don't pay taxes in the UK just because they are UK listed !

What a massive joke . A sea of misleading ignorance.

The market cap damage , lost of capital tax revenues ( as none will exist now ) loss of investment as am 100% nobody will invest in the UK or very very little , loss of jobs etc not to mention a future where we import more from abroad , all this and more brought to you by the clowns in charge ( am no Labour supporter but now we have Labour in disguise )

No worries Zippy we will have to disagree, only wish I could tell you what I did for a living and then see if you still thought the same of me. But hey on a bb everything goes

Taxing the non-doms more is only going to hurt the UK . But please don't believe me, the consequences though we can all bare already. Can't compare the UK to a lot of countries and we are falling in just about any standard due to high taxes We allow boat people in and high streets to turn into dumps whilst telling the wealthy to stay away .

You also want to pay nothing for Amazon to deliver at home or Starbucks , etc those firms are accessible precisely because of the lower tax they can achieve . Can't be so naive to believe you deserve a free cake and remain thin too ?

Anyways from someone who deals with non doms rest assured many have left the UK and leaving. It saddens me to see my country be transformed into a cesspit and eventually am leaving too. Taxes are the instrument of the uncapable and envious that want to punish all for their own incompetence.

This part of yours I strongly disagree with
"What does irk me is when massively wealthy people domicile themselves in low/zero taxation jurisdictions. It doesn't benefit society" Just one luxury bought here in say Bond Street will generate more VAT income than dozens working in a supermarket , Its a fact.

"don't think how much tax someone pays is the only measure of their worth to society. That's a very short sighted view. It's one important element, but heartily ignores the value people bring to local communities through their time and dedication, which are arguably worth more, especially at a local level. What about people who volunteer a lot?

Yet without the taxes taken off the wealthy there would be no society in the form we know it today. But a version of CUBA where thinking like yours is prevalent. I know several high net worth families as I deal with their family offices and the charity they do is worth way more than all the volunteers you can count .

I equally volunteer to feed homeless in London , nobody needs to know and its private to me , yet I tell each and every one of them that getting a job is the far better advice than how to eat for free. I placed dozens in all sorts of work. way more can't be bothered or have drugs issues. There are very rich families that have a wife or their children volunteering all without wanting to be known .

Makes me want to stop as clearly not appreciated despite all the good done in silence on a weekend morning where I could stay in bed or go play tennis . Taxing others to feed yourself is a big con. Teach people how to work and learn skills . Create wealth not redistribute it arbitrarily that what I believe in (plus the redistribution I humbly ask has it ever worked ? NO . The bigger the pot the better for all trust me . The faster people realise the better as this era of socialism is a disaster for the UK .

Zippy Frood

I know several non -doms and frankly speaking they add more value to the UK that 1000s here put together . I could even show you the numbers to prove it
First of all a lot of them are high net-worths who support a lot of major businesses here and spend a lot of money most do not have in this country . Also note the non dom status has a cost , which is several times the tax paid by say someone on 25 or 30k a year or those arriving on boats everyday .

Also why should anyone pay tax from income abroad if that is taxed in that country ?

Of those you can claim to have UK privileges how many pay £30k a year in tax ? or £60K ? You reckon your call centre or Tesco cash out staff or many other categories pay anything like the above figures in tax ? Not to mention spend lots and therefore incur in lots of VAT ? do the maths and see how your claim is so wrong .

No this tax the so called rich or profitable business culture believing these people are the problem is not just mathematically WRONG but will collapse the UK . Its all envy of losers and thickos who just don't understand anything . But will cry once there are no more building a mansion jobs or penthouses or luxury shop assistants having to work in Primark as the rich have gone . Or the car dealers of fancy cars , and the list is long. No some like you want a world of poverty all earning a basic wage and no aspiration . Back to Lidl and Aldi for all or worse as the UK is clearly saying no to wealth . Yet loads flock to Dubai on holiday to flaunt their chavy designer t-shirt bought at a discount shop.

Taxes are criminal after 20% no matter what income A person on a million will still pay 200k a Person on 20k 4k that 1 million person is paying 50 times tax . Its theft

(£30,000 if you’ve been here for at least 7 of the previous 9 tax years
£60,000 for at least 12 of the previous 14 tax years)

You are trolling Ammu

"It's beautiful and does not pollute the enviroment and great savings on BIK....whats not to like...
TAX all these poluuting companies!!"

First of all where do you think the electricity comes from ? Only your hot air ? Second the battery and all the components ? A Disney cartoon factory ? You don't own a Tesla I know you don't . Plus its ugly .

Ammu you do realise an EV vehicle pollutes more than most fossil fuel cars ? Not to mention all the destruction of natural habits when mining for the battery components in Africa and South America .
The EV scam is as bad as the crypto one yet so many fall into it . Shocking . Am all for real environmental policies but EVs aren’t environmental friendly at all . They too will get higher and higher taxes once tax revenues from oil decline . How else will the greedy pigs in politics squander wealth ?
Shocking policies we have in the UKSSR . Instead of promoting profitable UK firms we destroy them and use simpleton propaganda worthy of the Second World War . BBC had a shockingly misleading headline of $10bn in profits for Shell whilst making the readers and getting them all angry into believing those profits should be taxed . Whilst totally misleading the reader as most are profits from operations outside of the UK .

Propaganda at its finest .

In fact propaganda seems to never fail . People are gullible and even think they are smart

The only stock ( well HBR too ) that is stuck is Enquest , no sense at all , should already be at 37