Member Info for oxygen

Talking about Labour’s apparent readiness to import the UK’s Oil & Gas needs, they should probably take note of the latest news that China may trigger a collapse of the EU’s Biofuels Market ( Reuters ). Seems it hasn’t taken China long to hoodwink the EU by offloading dubious biofuels under the qualification label they meet all greenhouse gas emission credits, whilst managing to mix in plenty of questionable waste oil and fats. Who would have thought the little rascals have the audacity put ‘two fingers up’ to JSO, who really need to get out there, and take Labour with them , to meet reality.

As has been said many times before “ stuff happens” and this is just one such occasion. A degree of contingent planning will be in place hence being able to undertake some required maintenance whilst being shut in, but the extent of protection against much of the critical plant failing is unknown. All we can assume is that were this to affect Prod. guidance then we would have been told. Currently the worst case is our annual Prod. will now be in the lower quartile, which is probably already priced into the SP.

@Krak. Appreciate the feedback from those of us due to location &/or mobility ( or recently discovered poverty ) can’t attend.

Also suspect any reduction in production will be offset by a rising OP , thanks SA.

Interesting discussion and another take away was reinforcing the point that the ‘under-developed’ world containing the largest population has little to zero interest in Climate Change as theirs is a daily struggle to survive. Thus as they fight to improve conditions pressure on the Oil demand side will only grow without the slightest concern for JSO protestors, who need to travel more !

I liked this recent comment from the CEO of Boeing, as they try and increase production, as much of it could equally be applied to the O&G Industry, take note Hunt & Keir.

“Many of the group’s suppliers make one part and they are the only supplier that makes that part. When they fall down or can’t respond to a rate increase, we suffer but we have to stay disciplined; we have to work with it. We can’t just get mad at them . . . We simply have to work with them. We have to help them to get their workforce back to where they were. It’s not numbers, our industry is not numbers. It’s skills, it’s talent, it’s experience, it’s people.”

And if we lose the latter we really do have a problem !

@Stupmy…yes naivety ( before auto changed ! ) plus have bought plenty above 8p as well , so like many pretty phished off with all the political interference.

Just bewildered at the Governments nativity over its flawed EPL and an Opposition Party seemingly detached from Energy reality. The Autumn Statement provides the Chancellor an opportunity of tweaking the EPL, but we’ve probably a better chance of OPEC turning the taps down again, next month. Yes do wonder what is holding AB back ,or indeed any other Directors, from currently buying, or just splashing a bit of Company cash

on share purchases …a mere £7.5m will right now mop up around 50m.

PS. Last time I bought heavily into Enq. the SP was circa 8.0p , so I’ve been close to here before & the days then were darker, so I’m not going anywhere ( 7figure holding )

Hopefully someone will ask that of AB at the AGM…..unfortunately can’t get there myself, as have a few other questions !

Like wishing to abolish tuition fees, Labour in power will soon realise the UK ‘s energy / oil demands won’t magically disappear in line with their wish to abolish NS oil extraction whilst retaining any resemblance of energy security. They need our Industry for its investment potential in being able to deliver on much of its Net Zero strategy, so at some point quiet expect back pedalling.

( Of course Labour have yet to win….interesting how popular Sunak has suddenly become with the younger generation ! )

Re. Golden Eagle & “ why there was not a barrel per day production contingency as well is beyond me “.. Yes that would have seemed an obvious condition, so suspect it was raised ( hope so anyway ) but firmly rejected by Suncor, as having no influence over future production levels. Anyway at the time probably few thought Brent would hit €75 so quickly . Indeed I’m inclined to think $80 + isn’t too far away !

“Big news on the way folks”….that may be true but unlikely in the short term until Newmont start making decisions !

Without an EPL I think we would already have been snapped up by HBR but LC has made it pretty clear she now wants to reduce their exposure to UK activities so I feel that ship has already sailed. Our tax losses may look attractive but not against a hostile Fiscal environment.

Let’s not forget AB holds a substantial shareholding, he won’t be looking for that to ‘wither on the vine’ . Would expect an update on possible SH returns within H1 Results, until then we need POO support from the cartel !

Also give thought as to how long before this Deal finally gets wrapped up and Newmont start making decisions. My guess sometime in 2024 earliest, especially if they prefer input from their new incoming COO, currently working a Notice Period. Any Mining news vacuum here won’t be helpful.

Thankfully this one remains on my Watchlist and will continue to do so until the fog of uncertainly lifts / GGP become the masters of their own destiny, no doubt with more equity support A view that seems to be shared by the current SP.

An interesting few weeks ahead as the Homeless are being forced to move on !

Expect sentiment will change as we move into H2 helped by POO .

DUBAI, May 22 (Reuters) - Asia will lead oil demand growth of around 2 million barrels per day (bpd) in the second half of the year, a senior executive at Vitol (VITOLV.UL) said on Monday, an increase that could potentially lead to a shortage of supply and drive up prices.

Nil Cost Options to satisfy Director Bonuses, the latter clearly not linked to Shareholder returns who really deserve better for their perseverance.

Interesting note from Barclays ( and reminds me of my days in Salvador looking at those in cramped Favelas no doubt wondering how the fortunate opposite housed in their luxurious Flats managed to get rich ….generally by luck ! )