Member Info for Slift

Lol, am I seeing this right?

10:30am and volume is showing as 177k shares traded....

$1b+ revenue company and only £30k in trades over the past 2 hours here.

Crazy.

This would have gone to Petrofac 100% were Petrofac not banned from ADNOC awards..
Sad, as could have been a good boost to backlog.

https://www.worldoil.com/news/2021/5/25/adnoc-awards-744-million-epc-contract-for-belbazem-offshore-block-field-development

777jimster and solid_snake,

Thanks for the input.
I will use the additional information box to clarify what i've done and where the losses have come from and what my profits are. I won't be paying cap gains tax as it will be offset by losses, but I think i'm better off by reporting than without.

As i'm employed, I don't really want to declare any income as self-employed as this may mess up up income threshold (should HMRC decide my calculations are invalid etc.).
I will report via CGT and just provide an explanation at the end.

Thanks again all.

"Half a penny a share ....go for it!"

Try 5.4p per share.

So rather than planting trees, capture CO2 from the ocean using equipment that may be harmful to fishes (and may kill more fishes than CO2 normally would?)

Cod and Haddock population inthe North Sea is down over 90% because of ideas like this!

Honestly, carbon capture technology isn't very efficient and extremely expensive unless you use it in a CO2 stream where there's a much higher ppm of CO2 than air or ocean. No matter what anyone says, even with improved tech, this will still be a very expensive process (unless a high ppm of CO2 available to capture from).
Planting trees has many benefits than just reduction of CO2.

Companies willing to pay for carbon offsetting sure, but producing energy via green sources (solar, wind, etc.) also provide this option for companies - in a much more profitable way (although still very low margins in comparison to O&G).

"Another project that would work well at Sullom Voe would be Co2 removal from sea water - there are higher concentrations in water than the air, so remove it using green power, pipeline or ship the Co2 to storage, clean water goes back in the sea to absorb more Co2 - companies pay for the carbon offsetting. All using established tech."

What a stupid idea..
Why not just plant more trees or seaweeds instead? Much more efficient.

How about you all get together and raise about $150m (£106m) and donate that to HUR for the BoD to pay off the bondholders and release the company from covenants and debts?

Otherwise, see ya when it's game over.

"Can you tell me how many Aim Stocks have high quality people on the Board ?"

I can think of a few. It all starts with BoD interests for shareholder returns, and their stake in the company they are promoting.

"I would love Enquest to add a little bit of Bullshat green energy into its portfolio, would sort of give the Banks the green light to invest again, we wouldn't be seen as a dirty disgusting oil company"

I think "bullshat green energy" hype will soon settle as the economy opens up and interest rate/bond yields rises. Green energy is typically growth orientated as very low margins.
Typically, O&G stocks are value orientated and the go to dividend stocks. As it stands, dividends are unpopular in the current market due to uncertainty.

As bond yields and interest rates starts rising, O&G stocks should become more attractive for II's.

In the short term, India's covid situation is improving every day, however Iran stocks are waiting to be exported after relaxing of sanctions over the next month.
Still volatility to be had in the oil market, so enjoy the stability while it lasts - no problem as long as ENQ hovers around current price or rises.

Hurricane assets would only be attractive to Harbour for any potential tie-back to Solan.
Even then, any potential aquisition for Harbour should be following administration/fire sale of assets.
That's how dire the situation is at Hurricane.

Definitely not a fit for ENQ, especially as majority of ENQ's assets are located east of shetland islands.

"TULLOW oil production is forecast to average 60-66,000 bopd in 2021."

54-60k bopd in 2021....
approx. 61-63k bopd in 2022

I see little growth potential here, but has become a much less risky share. £1/share is possible as drills become successful.
But Guyana/Kenya potential is more important here for future growth.

Currently, excluding decommissioning assets in the North Sea, Tullow's licenses are reduced to 45 licenses.. of which majority (Gabon) has little growth potential.

Tullow needs to get through 2022-2023 before any significant changes to business plan can be implemented to see growth in their exploration assets.
Either way, £1 target in the next 6-18 months.

Botbot1202, 777jimster and tinlid,

Thank you for your comments.
I'm trying not to overcomplicate things, but I have losses to offset against my gains (and losses to carry over).
However, the cap gains sections on the tax return is asking for the following:
- Number of disposals
- Disposal proceeds
- Allowable costs
- Gains in the year, before losses
- Losses in the year

There isn't one for just gains after deductions..

Then for the losses:
- Losses brought forward and used in-year
- Income losses of 2020-2021 set against gains
- Losses available to be carried forward

Maybe I am complicating things.. but don't want to get it wrong!
So any advise is appreciated.

Thanks

Latino,

"Nope, they have an obligation, but they can defer to next financial year due to funding needs /Covid limitation etc."

Nope. I think you'll find that they have until Oct 21 to P&A the well.

"The Company has a regulatory commitment to plug and abandon the Lincoln 205/26b-14 well. The OGA recently approved an extension of the deadline for this activity to 31 October 2021 (from 30 June 2021) to allow for completion of operations in the summer 2021 weather window."

"The Lincoln and Warwick Crest discoveries on the GWA licence are at an early stage of appraisal. While the Lincoln 205/26b-14 well flowed at approximately 9,800 bopd on test using an ESP in 2019 with a productivity index (PI) of 18 stb/d/psi, there remains significant uncertainty over future reservoir performance, and an appraisal programme to refine reservoir parameters would be required to better assess the potential for Lincoln's Reserves and commerciality. Ahead of any such appraisal plan, the Company has a regulatory commitment to plug and abandon the Lincoln 205/26b-14 well by 31 October 2021 as described above."

"The Lincoln and Warwick Crest discoveries are at an early stage of appraisal. Further appraisal of both discoveries would be required as a first step before any assessment of commerciality and Reserves could be made. Any appraisal activity would involve a significant financial commitment for Hurricane, which the Company may not be able to fund. As a result of this funding uncertainty and the early stage of appraisal, there is currently no reasonable expectation that the Lincoln and Warwick Crest discoveries could generate any meaningful near-term cash realisation. The GWA JV partners will continue to evaluate and consider all options for the licence going forward."

Hurricane did not sanction the commitment well for Lincoln. Hence, no tie-back.

"Planning is underway to meet our regulatory commitment to plug and abandon the Lincoln 205/26b-14 well, with the Stena Don rig contracted on behalf of the GWA licence partners to perform this activity during the summer of 2021."

"where is Adrianuk when you need him ,the only poster on here i trust and able to see the wood from the tree,s ,no ramping or deramping just the truth and real advice from an expert in the oil sector."

LOOOL. He's sold on the spike.
All videos regarding Hurricane has been removed.

Don't be silly spike501.

It's a "scam" and is "scandalous".

Smann,

"Bondholders and Shareholders should note that in certain circumstances the Court may sanction a restructuring plan where one class of creditor or member dissents."

I think this means that the Court may sanction the restructuring the plan should the bondholders vote come in at 51% (rather than the required 75%) or the shareholders vote come in at 51% (rather than the required 75%).

Nothing new.

Following further depreciation in 2021 so far of the Lancaster field, there is/will be a negative equity.

Game Over.
0% likely outcome due to dumb shareholders.

garyn,

Yes, initially it WOULD have been on grounds of gas disposal/flaring limits.
However, with the underperformance of Lancaster, there is plenty availability under the flaring permit to tie-back the Lincoln Crestal well.

The WOSP gas export modification was only required for 20k+ bopd production - at which point they will have exceeded flaring limit.

However, as mentioned below, the license commitments/Spirit sanction was probably the main reason.