Member Info for Tigar

Why does Enquest not set up its own hedge company buy UK production at breakeven and sell on and pay Panama Taxes.

Your calling nearly half the population thick? Sounds about right.

It could be argued that oil has historically been boom or bust we have shortage drill not long back we saw oil selling below cost. Perhaps with renewables we don't need cheap oil so high profit high taxes is the way forward could be just saying better 25% of a lot than more debt for drilling that ends up being sold at a loss.

Time has come to define shareholders rewards Tax man has set his share we should demand ours 25% of net profits sounds about right.

Questforoil
I wouldn't keep worrying about 75% Tax on oil, firstly by then we will be debt free and cash rich after reclaiming Tax credits and governments now want dearer oil to assist the take up of renewables I doubt we will see very cheap oil it didn't work for renewables so higher prices with higher Taxes is the way forward. You can make a lot of net profit out of $100 oil even when we have to pay 75% Yes you can invest abroad but other countries will fall into line with higher Taxes if that is what has been decided.

"Without the windfall tax this could be a 70p stock."
How much WFT do you think we are going to have pay 47p below true value equates to over £800m of value lost through WFT?
We are undervalued because we receive no reward for being shareholders and the market thinks AB will never reward us.

Just topped up for update will get it right one day, 7874 must hit 60p this year?

You are not going to see backtracking till juststopoil funder has funded their election bid, then reality will have to sink in!

We are in kind of limbo, we had a period of very low oil prices Enquest like many others tittered on the edge, renewables boomed with untenable subsidies I feel the ESG brigade have realised cheap oil and gas must be replaced with expensive oil and gas but to stop more oil you need to Tax a lot higher and press ahead with renewables that will be more likely be able to compete with expensive oil. If this is a long-term change of thinking then Enquest can move forward and make full use of its Tax credits and invest for a high oil price environment we just need a floor to the WFT and guarantee to investment relief Tax is no problem if the profits warrant it. Not sure public will like it but who are they.

Perhaps EPL will all make sense, renewables need a very high oil price at $80-$90 it is not fair and will kill investment but at $150-$200 ?

I think it is safe to say Starmers motivation is to get finance from juststopoil activist leader, to fund his bid for power at this stage he will say anything to get the money! As can be exampled by his complete support for Corbyn, to keep in with the left in his bid for control he is has done a 360 on that view. And may yet rat on his financer's .

chilting
But none of the questions asked were about cutting production of NS oil.
Bit like my analogy of nuclear deterrent, asking the question are you worried about a nuclear war does not mean people are for getting rid of our deterant. I am all for cutting pollution and demand for oil but against just importing the problem. Produce our own steel food plastics and fuel yes that means we will produce more pollution but it would cut the pollution we cause to the planet. Labour are going to cut pollution by importing it.

chilting
You sound like a 1960/70 union leader who regularly claimed his members wanted to give up the UK nuclear deterrent because his conference voted for it. I was a member of the Union but was never asked my views nor were the other millions of members! Labour may sneak in a conference policy on oil but that does not make it a policy backed by the public. If the public have queue up at the pumps you will soon find out true public opinion.

clearly the majority of UK voters do want to see an end to Gas and Oil in the North Sea as a knee jerk reaction to climate change and energy policy without regard for the consequences.
And were did you get that idea from a juststopoil protest?

. The consideration for the acquisition comprises:

· The issue of up to[1] 111,048,124 new ordinary shares in Serica (the "Consideration Shares"). Following the issue of the Consideration Shares, they will represent up to 28.9 per cent of Serica's enlarged issued share capital

· A cash payment on Completion of £58.7 million (the "Cash Consideration")

On the basis of the Serica closing price as of 19 December 2022 of 278 pence per share this would be equivalent to £367 million. Serica will also be taking on Tailwind's net debt, which as at 30 November 2022 was c.£277 million[2]. As part of the Transaction, Mercuria, the largest ultimate shareholder of Tailwind, will become a strategic investor in Serica with a 25.2 per cent holding and will enter into a Relationship Agreement with Serica.
Firstly why the cash payment of £58.7m? the issue of new shares already gives an equal share of SQZ cash pile to all shareholders new and old if that was going to be used to reduce the £227m debt liability. They seem to be carried away with buying debt and projects they will have fund. I have been round houses that the vendor is keen to show me what he would like to do loft conversion or new extensions but seems to think I should pay more because I could.
In a transaction like this I would expect a special dividend to share cash with existing shareholders before issuing new shares.

Hi NormaStlts
This is a poorly regulated market, I often get phone calls from people who have my interests at heart. just give them my bank details and they will make me rich? I always tell them to F off. This deal with unexplained benefits requires the same answer. And put management in the suspicious box at least?

Problem for Labour and all green thinking Governments is the punter is paying the tax on fossil fuels at some point that will need to be transferred onto the renewables what price will they be when you take away the subsidies and add on the Taxes required to run the country or will they tax the air we breathe instead.

Very dodgy management, how do you uncover were the cash is being brown enveloped under the desk. Sack them it is so obvious to buy back the share's or buy other assets with the cash that is supposed to be king . This deal issues many more shares giving the new holders a share of the present holders cash why agree to that?

$714m net debt would mean we we only paid $9m EPL from 30th Sept to 31st Dec?
To pay Tax we had to keep the other 75% in 2nd half of 2022 But this year it is only 65% after investment of course so all these EPL estimates the higher the better.

I remember the days we tried to value Bentley on 2P, Enquest paid $2m as I recall. But it is a reminder of our potential organic growth in reserves and we know it is there and don't have to test drill it. But can claim the Tax credits for those costs already incurred.
1P, 2P and 3P heavy oil reserves for the Bentley field of 236 MMstb, 267 MMstb and 298 MMstb, respectively, based on an initial 35 year production period.