Member Info for Papegoja

Can someone provide a more detailed interpreatation of the effects on the impact on E. (Perhaps the increase in profit will end up as dividend?)

Before the Iran war, E produced 24,000 barrels of oil per day at $60 per barrel in NS. Today, production remains the same at 24,000 barrels per day, but the price has increased to $100 per barrel. In both periods the E pays 38% Energy Profits Levy (EPL),

Going forward, this means E earns about $10.4 million per week after the 38% EPL (before other costs and taxes). Before the war, at $60 per barrel, the company made about $6.25 million per week after the same levy, meaning weekly earnings have increased by roughly $4.2 million due to the higher oil price. Lst year E paid USD 15m in dividend. I think it will double this year.

I found this link quite interesting since it gives some perspective to the Tweets from Trump

https://www.youtube.com/watch?v=V3GrShi04pI

Information of limited value.

In 2024 Enquest repurchased 55,8 miljon shares for 7m GBP. Average price was 0,125/ share. Today 1 year and two months later the price is 0,1854. About 50% increase in value. They should have bought more!

I am also surprised that the share price has not moved more. However, I can live with the fact that we are making more money now and we get an opportunity to hedge som barrels now with higher oil prices. I also think that the dividend will be increased substantially because of this. In addition, we have the EPL discussion that that could go both ways. If there is no change to it then I hope we have the hedges in place. If it is changed then E will fly!!

What is new under the sun?

* All oilfields are declining, that is why you drill again

* All O&G companies sell their oil/gas at market price

The question to Ed is why he would like GB to import oil/gas instead of having Tax revenues, jobs in his own country.

Energy expert Eric Nuttal is talking about Canada but it he could have the same speech .about GB and North Sea.

https://www.youtube.com/watch?v=_P1oFSnftJA

So, I guess some clown government representative will come out and say that the prices of oil/gas will not go down even if the EPL disappears since all oil companies sell their products at market price. That is a correct statement but it totally miss the point and they know it.

Is there something cooking? E has moved from 10.1 in the beginning of jan to 12.0 today.

EnQuest is performing above expectations, so I have no complaints about the OU. My only concern now is oil and gas prices. I’m not sure whether I’d prefer them to rise (so we break even despite the EPL) or fall (so the EPL is removed). As a long-term holder, like many of you, and given our luck, I expect oil and gas prices to stay exactly where they are.

Any info about Enquest Producer? Are we still hanging on to it, and if so why?

Steve, I appreciate your comment on the Board and would like to hear your view on the info we received today. On another note I think the EPL-status (to be or not to be) will decide the outcome of the transformative deal. If EPL stays I only see Petrofac as an alternative in NS. otherwise it will happen outside NS

The arrogance displayed by Shanks is shocking. Thousands of people in Scotland are losing their jobs every month because the government has chosen to import oil and gas instead of using the resources available in the North Sea. He comes across as someone who actually understands the issues (unlike Ed), but he doesn’t seem to care, since he spends most of his time in London. I wish this youtube clip can be repeted all the time up until the elections

From the article:

"Miliband has been working on proposals for the North Sea for months as the government looks for ways to maximise the lives of existing oil and gas fields without allowing completely new exploration".

Sound like they are talking about Enquest. What is missing is a discussion about EPL despite the fact that the EPL is the most important question. Unless an Oilcompany can have a profitable business, why ask for new licences?

The EPL was created by the clowns Boris Johnson and Jeremy Hunt to stay in power and made worse by Labor to please the green zealots. The sad fact is that all the time the facts and consequences have been clear to all parties and now we all suffer. I wonder if politics or common sense will prevail this time. So far it has costed us shareholders in Enquest MUSD 180 and the pain is still not over. With Labour representing a fraction of the population perhaps there is a chance for a change.

I think the reason for the tree week delay was caused by the announcement made yesterday about Indonesia. I think E wanted to include the Indonesia deal in the Half year report and nothing more.

I guess the wind developers in the NS are safe with the full support of Ed. He will make sure they are overpaid especially when the wind is blowing and they get paid to stop using their windmills.

I find the payment of EPL MUSD 80 for 2023 and MUSD 100 for 2024 very strange. Without that tax the MUSD 180 should have ended up with the LTH. Now E is paying into the coffers of Labour government. Instead of the MUSD 15 (dividend) we could have received MUSD 195. Thank you UK!!

We are told E is paying MUSD 100 in EPL for the year 2024.Since the EPL is 38% on the excess profit on the UK-buiness then the so called "excess profit" made in UK must have been MUSD 263. Is this correct?

I think it is a good time to hedge part of the production now!

I don't forget the idiots Hunt and Boris the destroyer. They used all the tricks in the book to get the green votes.