Member Info for Therapist

Hi Pelle,

This is interesting:

https://www.dropbox.com/s/q1fmt5q6qqy7mdt/Tapis%2008.06.jpg?dl=0

GLAXXX

Hi,

So as a summary:

Companies are making large profits as a result of a war - not as a result of an evident global energy crisis. FAIL

Profits not made in North Sea - Ring fenced regime geared to UKCS - WIN

Offset losses - we don't do that. FAIL

Define Oil Price "normal" - $60-$75 range for oil . FAIL (too vague) . Gas also (Serica figures today per therm H1 22 looking at par with boepd price) Need a gas normal too.

Sunset clause 2025 - or before if back to normal - FAIL (but WIN also) I'm no expert but dream on Rishi.

Investment Relief Levy - at point of investment so quicker . . .sounds good. WIN

Expected increase on NS investment - FAIL. I smell bull**** Didn't answer the question.

Sweet Dreams

GLAXXX

Hi,

You're all in bed but actually 14:42 is where it gets relevant. I was dustracted by cucumbers!!

Hi

From 14:20 onwards if you can bear it for about 20 minutes. Dishy Soonlapsed squirming his odious self in committee. In fairness cool as cucumber but let's not forget where he really wants to place that cucumber.

https://parliamentlive.tv/Event/Index/e2f36585-3b9d-417e-8817-6d5774339ba8

GLAXXX

. . . and that's what we needed. Well spotted!!

Hi,

Swinney's future might be uncertain but for sure as soon as he has gainful employment I'll have him for a crate of Lambrini, three and a half bottles of Limoncello, some Twiglets and a box of surgical gloves. That was a leaving party to remember.

In the meantime Scott Spirit is latched to Armada Kraken, suckling the snergelly hose like a ten bit hooker with a crack habit unsure if being paid in Euros or IMO 2020 Singers Dollars.

Richy Soonsacked is about to take another U-Turn around the U-Bend of his sewerful existence and accept that referring to a windfall tax levy on a "normal" oil price ensures he takes the dunce cap from Shammu and that he'll soon be explaining to his tax dodging wife that he'll have to wear the clown clobber for at least another week.

Lastly, I'm sure we're all aware, but it is Malaysia arbitration day today. It's only a potential $17 million loss but that's a fair chunk of market cap at present and don't forget a counterclaim for loss of earnings.

Will keep you posted . . .

GLAXXX

Hi

As reported Scott Spirit is en route to Kreamy Kraken. Singers VLSFO is at $47 premium to Brent. Rotterdan $16.31. Wonder where she will go?

GLAXXX

Hi

Aloj,

Scroll to bottom of this page.

https://www.gov.uk/government/organisations/department-for-business-energy-and-industrial-strategy

Should be individual contacts on the links.

Not my favourite people but some might be up for putting a squeeze on the levy as they in general don't like capitalism being hindered.

Not one to nail my politics on a mast but Kwasi Kwarteng is a bilious snide of vomitsome arrogance and self interest.

GLAXXX

Hi

This is Amjad Thursday morning.

https://www.cnbc.com/video/2022/05/26/theres-amnesia-about-past-energy-crises-as-we-grapple-with-current-supply-issues-enquest-ceo-says.html

I bet a Thursday afternoon interview would have been a different story.

GLAXXX

Hi MakeSomeMoney,

I get that but I'm here because I believe the demand is unassailable for many years and energy sovereignty has recently become a thing. There is leverage there and I think that could weigh in favour of efficient late life explorers.

I think the "windfall" will be called out for the **** poor, "distractionary" (thanks for whoever posted the word) tactic that it is. I therefoe think there is protection on the downside . . .because we need the black stuff!!!

Wouldn't normally get political preferring the methodology of **** jokes. If ony it was a Robin Hood tax. Dick Turpin was not a nice chap.

GLAXX

Hi,

From KO mentioned telegraph article:

"One of the North Sea's biggest energy producers is preparing to invest in South East Asia instead of the UK in the wake of Rishi Sunak's £5bn windfall tax.

North Sea specialist EnQuest is drawing up plans to expand outside UK waters in an early sign of the impact of the Chancellor’s levy on oil and gas companies.

EnQuest decided to narrow its focus to the UK and Malaysia in the wake of the oil price crash. But it is understood the company has been looking at further expanding its presence in South East Asia amid the rising tax burden on UK oil and gas producers.

A City source said the company had found the Malaysian government supportive and is open to locations outside the North Sea. It planned to calculate the impact of the Chancellor's new measures before making any decisions.

A spokesman for the company said: “EnQuest is committed to the North Sea. We are currently executing our largest capital investment programme since 2014 and our plans are continuing unchanged.

“We have invested around £4bn in the North Sea over the past 12 years, and maintain our view that long-term, stable taxation arrangements are important for the industry."

This is the first "warning shot" from Enq who are set to lose less than 20 million 22 if Jeffries are to be believed.

I wonder what the big boys will say about the levy costs?

There is an argument to say develop NS to benefit from the incentive (suffer less from the levy) or say frikk you and go elsewhere. Oil keeps rising and there is another U Turn in the offing.

Either way who will challenge Sunak on the supposed £5 billion coming from the NS levy?

Malaysia, gas price, PM409.

Malaysian production and profits protected from Uk regs.

GLAXXX

Hey MO,

Let me be the first (if I am) to welcome you back.

I'm all grown up with graphs and everything. There are still those here that fester in the green fields of filterdom but on the whole it is a fairly nice place.

Not a good week but prior to that quite a crowd threatening to reveal themselves at incoming AGM. See you there??

GLAXXX

Hi,

EnQuest Petroleum Developments Malaysia SDN. BHD is a subsidiary company. They pay taxes in Malaysia. Does that make Malaysian based profit exempt or mitigated in any way from the "levy"??

Similarly is Malaysian exploration subject to the "investment incentive"?

Clear as mud: "An investment incentive. An ‘allowance’ will be generated on investment expenditure (capital expenditure and **some** operating and leasing expenditure) at 80% which can immediately be used to reduce profits subject to the levy."

Genuine question as I have no clue on such matters.

Probably worth taking EP out of Nigg and parking her somewhere in the North Sea, claiming exploration and offsetting the costs. Who would know.

GLAXXX

Hi,

I've asked that Swinney is kept on board until he clears the bar bill at EP. It's the least they could do. I'll cover the smashed up urinals. Monster.

I missed Rani Koya though, you can read the blurb but I pick out "Rani is currently the CEO of OGL Geothermal Ltd., a geothermal development company focussed on Europe, the Middle East, and Africa."

"Geothermal" in the air = brownie points! That's a clean reference if you happen to be Swedish and don't know the juvenile female side of the scouting movement.

GLAXXX

https://discord.gg/4bdQSHrD

Hi,

Discord is easy to copy paste into google translate. Sometimes get some oddities but it flows. The actual web page rather than the one that appears as a search option offers more characters. . . . . . .or learn Swedish . .. . .. rest assured those dudes read, write and speak English better than you and I!!

Some good humour and insight there.

GLAXXX

Hi,

It's all about the production numbers for me and it is extrapolation time.

They gave us figures to end of April and we have OGA to end March and can work out Malaysia with a degree of certainty for January and February.

So for April:
Kraken - ticks on.
Golden Eagle - ticks on
Magnus - drops off to 13.5kish

But here's the thing:

Malaysia - I had plotted March as the improved level extrapolated from Jan and Feb data but there is now a large drop off here to about 4500 for March and April if spread evenly. Maybe something to do with outages as workovers happen?

Other - The handbrake must have come off at GKA. I can put S/C onto about 50% improved on March, Alba and GKA to highest in around 18 months or so and I am still 200 boepd short of the mark. What's going on?

What does comrade Kamrat think?

GLAXXX

Hi Banana,

But you are not just a banana, you are a BananaJOE. A strong, proud, bendy, ripe yellow banana. You have a lot to be proud of, high fibre content, prebiotics, short chain fatty acids and frikk loads of POTASSIUM.

Bananas also contain tryptophan, an amino acid which the body converts to the feel-good brain chemical serotonin . . . but hang on a minute . . . .Bananas may trigger migraine in people who are susceptible to them and bananas may initiate an allergic reaction in some people.

Frikk me . . . **** HAPPENS!!!

I feel your pain and if I go to the AGM, and they are serving bananas, I will raise one in protest on your behalf and look for an opportunity to slip a skin under an unsuspecting Company Secretary.

They did announce it but not formally. They did NOT and have not announced it formally.

Aren't you a teeney weeney bit excited under your inedible skin?

I am.

GLAXXX

Hi,

AGM's aside I can't imagine the board based chaos this might cause.

https://ceraphi.com/ceraphi-energy-awarded-funds-to-undertake-pioneering-decarbonisation-study/

A 40 year old oil platform is like a beautiful woman, you have to keep poking around to keep her gushing.

GLAXXX

Hi McLondoner,

Just guesses of course.

Kraken: improvements post two week maintenance and "Evaluation of the 3D seismic is ongoing. The Group is currently assessing mainfield side-track drilling opportunities"

GEAD: October is late enough for me.

OTHER: Apart from Scolty Crathes I'm not sure why they bother unless it is all inextricably linked. I thought GKA would show larger gains but just pootles along. My logic is that it has to get better (or remain flat so to speak).

NS GAS: I think Enq reported oil figures are similar to OGA minus shrinkage and the beautifully named "demingling". For Gas I oniy count gas potentially sold so I lose Kraken gas. Maybe where that is where you and Tarmak differ from I?

As Brian Blessed once said "It's all just frikkin marmalade!!"

GLAXXX