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Topped up at below 30p

I think the other item that needs to be factored in when estimating how much the WT will cost is that it won't include Malaysia which is around 10% of production and possibly profit. So as I said earlier this is not the end of the world. Assuming high oil prices continue it will have a larger impact in 2023. Once the RBL is sorted in 2023 it frees ENQ from the hedges which, again if the OP remains decent will counter any impact.

Hi L3, I think you are confusing 'Tax Relief' and the new 'Investment Allowance',

Infills and workovers are costs which are deducted from profits. As they are deducted from profits they do not attract the windfall tax, they mitigate it.

I'm not clear what is within the scope of the new investment allowance, perhaps this is one of the items ENQ are seeking clarity on. you may be correct that they won't attract this allowance but equally given that its intent is to increase North Sea production the is a good case to have it applied to such items.

My reading of this is that enquest will have to pay 25% tax on profits (not cashflow) so in this financial year it will be approx 7 months worth of profit at 25% minus whatever can be offset for exploration/investment/financial wizardry.

I don't think it's the end of the world.

7 .5 out of 10 for the update. I'm happy with that.
Will leave the snallish production number discrepancy with the experts.

Great s/s Tarmak, my fag packet is now in the bin. That said, it was in the same ballpark which offers some comfort.

The best thing about today's RNS for me was that FPSO has finally set sail from Singapore. All being well it should be in production by early September.

China has over 88% of its population fully vaccinated.