Member Info for pijoe1212

IJWT

my first pass on it is a very simplistic one. the cap ex is about the same (something around $10 to $15 / bl), with op ex equally comparable ($15 to $20 / bl) (allowing for fracking etc). the big difference is the cap ex on hur FFD is very front end loaded, so you have to be very confident it will all work as expected.

to me it does however provide a marker for deal values on resource (to add to the other markers from other deals).

i agree with you - the deal and BP's increase in div does demonstrate a very tangible positive forward view.

not received e-mail..

morning FI..it was a somewhat tongue in cheek post, but sorry if it offended you.

for clarity - tax is only paid when funds are withdrawn..it is not applied to the capital pot

sipp..i have also been asking questions around this issue. so far i have had very conflicting responses. i think the limit is the £1.03M as you say and funds beyond that are taxed at a higher rate (55% i think but not sure). i have been asking about the tax free bit and further growth. my understanding is (all based on the £1M limit for ease): say you have £2M fund (with no prior protection) and you draw £0.5M. then the max tax free is 250K, and the other £250K is tax at 55%..but that leaves £1.5M in the pot, which is then tax at marginal tax for 50% then extra tax on the other 50%..now i am not sure i fully believe the above - i have had conflicting views (i have consulted both IFA and accountant and spoken to IR!).

A question i get no clarity to is growth after an initial draw down. say you have a pot of £600K and draw down £150K..that is tax free, no problem. but what if the remaining £450K grows- say to £1M (meanwhile taking no further income from the pot) - does that mean 50K is subject to the higher tax rate or is it all monies over £750K?

so the question to me is not the tax free bit- it is the treatment of the rest ...(sorry if that has added to the questions rather than answer yours!). clearly, like you i am very interested is anyone here can help narrow down the questions!

I would suggest the deal provides a degree of validation on the sort of valuations i have put forward on here (and perhaps others have accepted?). if i understand correctly US shale (and i do not take that as a given!), then one could expect something like 2 years of reserves (call it 100M bls in round numbers) with the rest as resources. (i am assuming from this point the 4.6bn bls is 2p/2c case which i would expect it to be, rather than 1p or 3p) using the $5/bl 2p that gives about $500M for the 2P and $10bn for the 4.5bl 2C (so about $2.22/ bl 2C).

one could of course value the 2P at $15 to allow for the sunk cap ex on the production (which is about the transaction values on say wytch farm deals), then that gives the 2C a value of $2/bl.

of course the question is how would hur assets measure against us or uk onshore? not sure i know at this stage.. so does not get me to £5/sh, but it does get me to a higher number that current EV.

I have posted on here as me and never as anyone else. I have no other accounts on lse.

Pls ask Craig to confirm if you wish.

I have not looked in here for some time- I do and I find my name mentioned...what heck is going on?

Do not forget cpr’s are independent of the co and written by experts who have to live with outcome. Neither bods or nomads are expect and independent and to not have to live with outcome ( I.e. Ritson at solo)

@ h o t m a i l . C o m

Ctag111222************
Fully disposeable when set up and now ( but great to get the shareholder inaction group updates..)

Evening Genghis. The potential significance of this is clear. How the idiot in cap hill reacts is key in my view.

Any ship watchers tracking us carrier groups?

I was on contract to bp and Conoco ( I worked for Icl pet which was taken over by enterprise oil end of 1986).

I can assure you any CPR has real weight as fact. This applies to all oilers. It is real fact - I would suggest far above any rns statements. It is clear- bb did not work as SS stated it would.

https://www.youtube.com/watch?v=GaElH0EHjIs

ok(1975)..and i posted it recently...

anyone want a tulip? got some great ones and some fabbo bubbles..never get a better offer i say......up the Udoggers i say...

yep point noted .. and it has, as has sometimes things from here crossed to other BB's (no bad thing?)..last few years has shown it will settle down.. what about JK..has the NHS grabbed him back...?

red..good luck, i do wish you well (i welcome you are passionate about ukog and the weald). i was part of the weald team (big oil!) back in the '80's. so not just experienced in oil but specifically in the weald basin. you really think we did not find the kimm? we found the portland on several small accumulations (it is what the "rest of the weald players" witter on about). of course we found the kimm..pain in the aris as we had to drill through the gas farts (not techy but i am sure you get my point!).

now we do 100% agree the stock is worth what the market will pay. ( but south sea bubble/ you want a tulip?)

i think you know very well i have no agenda other than to fact (and by the way i would put my brothers life on ricfle having no agenda also other than trying to educate a few pi's).

as posted - the portland should be a slam dunk commercial (run for the hills if not) - the CPR tells you that. but the kimm..just read that CPR....

evening Sipp

you just got a tick up from me (no great surprise given the thread).

trust you a doing well and enjoying the hot weather...(not as much as Dubai where they are set for it i am sure)

we have exchanged harsh words before. may i ask when you first encountered weald oil and oil expo in general? i can look to 1986 in a professional capacity in answer to the same questions...heard the phrase "wet behind the ears?" - i am not

on the one hand great...some good posters here.

on the other hand ...we have bancos..

meanwhile peeps post many times a day to FI's posts..use long term LSE posters just ignore him in the main (bucket loads of salt..)

all we need now is some ahole telling us the sun will rise between fred the dockworkers legs and a bunch of ****s on the street corner and we have the full house....

the CPR tells you in fact they did not stuff up the well!

have you read the CPR yet?