RE: Government is committed to new oil and gas licences in the North Sea27 May 2023 10:59
Every online post about juststopoil is swamped with negative comments the idea from politicians that they must appease them is against logic. The public want ICE cars they would like less pollution. And I believe the logic of the balance of payments is easy to get the public behind NS oil and gas.
Enquest is probably trying to clinch a deal to get more NS assets from someone who has no Tax credits and sees NS as not worth it. Possibly a larger share of GE for example? GE at the moment has suffered by a bad drill and delayed second drill, update said it was completing so that may trigger some good news on increased production not done sums but it has just about paid for itself, we now need to get the profit from the deal. Magnus is producing a profit for us and good to see substantial increase's to its production. Very negative sentiment on Enquest and all NS producer's but agree with AB may be time for well timed MA.
If a sensible cap on EPL was introduced our bank facilities should dramatically improve and funds for MA will magically appear? Time will tell we look like being able to meet 2023 obligations and reduce debt or go for another refinance on the RB?