Bradda Head Lithium exceeds targets, secures US$3 million royalty and moves closer to production. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
https://www.energyvoice.com/oilandgas/north-sea/488977/energy-economist-accuses-harbour-of-fancy-accounting-to-get-headlines/?utm_source=Sailthru&utm_medium=email&utm_campaign=Energy%20Voice%20-%20Daily%20Newsletter%202023-03-10&utm_term=Energy%20Voice%20-%20Newsletter
Clearly trying to send message to the gov, which we know. Helpful to see the context
DYOR
Thank you for the excellent post Dick . Where would we be without you .
I have two dogs actually. One is cleverer than the other. Neither is called Andrew, but the less clever of the two is called James.
JB - I'm thrilled (as a retired CA) to be called "dangerous". I've decided not to tell the wife in case it gets her all excited - I'm quite busy today and haven't got the time.
In my defence, I've been invested (based on the fundamentals and the people) since the outset (July 2015) and I was invested in TRAP for 2 or 3 years before that. Trap was a disappointment for reasons for reasons too complex to explain here and it would serve no useful purpose to do so. You wouldn't understand anyway. Virtually all my posts have carried the health warning: "imo" or "dyor" and I have pointed out on multiple occasions that O&G stocks, particularly junior explorers, are not for widows and orphans, because risk can never be eliminated. People on these boards are adults and should make their own decisions. I don't particularly gain from reading posts written by others, although the more astute posters provide food for thought and promote balanced consideration of the matters they raise. The general idea is to gain a better overall understanding of one's investments, with a view to increasing one's wealth in the loner term.
I have not found a single post of yours helpful in this latter regard. My guess is that: (i) you're not very clever and (possibly as a result) (ii) you're one of life's losers.
What bad luck.
I continue to hope there will be positive news in the timescale AB indicated - there are 3 weeks left for this to happen. Even if FO discussions spill over to April, or even beyond, it's not the end of the story, because I remain of the view that JOG offers one of, if not 'the', best opportunities for a profitable producing UKCS O&G company to mitigate the effects of the 75% tax rate imposed on the industry last year by the clowns in government.
As ever, the above is jmo.
Dyor
Calm down dictionary corner. It is what is called a typo (most likely caused by predictive text) and I’m well aware of the difference in spelling.
I highly suspect I hold a more senior, better paid position than most commenting here as well as the perspicacity to read the situation rather than following Dick like a sheep.
Can we please keep the posts on here sensible . GBA is an amazing area with huge potential . Jog are in a very good position they own 100% of the license . Oil is here for decades and in my view we are in a good strong position . Still very upbeat here !
I'm still with Dick in his suggestion that the other parties may well be waiting to check there are no further govt nasties contained in the budget before signing anything. That makes sense to me but this is still a punt for me.
Really? What exactly is Dick's type? I find his postings logical, informative, well reasoned and intelligent. By contrast there's "you're" opinion (to borrow from your own misuse of a contraction rather than the possessive) which clearly comes from someone lacking sufficient written English skills to have ever held any sort of skilled or educated role in the private commercial world. I suspect Jog may indeed be a bust, and I ascribe the current problems to the poor leadership of Benitz who was indeed a failure in the only oil role he ever had (Longreach) that doesn't automatically mean it was a mistake to buy into the Jersey story (I myself am in the process of trying to sell out slowly, that may well be proven the wrong decision ultimately, but that's my decision.) You're not somebody whose opinion I would heed, simply because your postings lead me to believe that you're not really credible.
So, you 'in' or 'out' at present because I don't get your reason for spending the time you do undermining it if it's the latter?
Been in and out of this share a few times over the years and learned the lesson, that’s all.
"Dick I’ve seen your type on almost every AIM share".
JB, that's a bit rich coming from you, especially bearing in mind your constant attempts to undermine a share which you profess to have no interest in? If ever there was a "type".
Dick your dog isn’t called Andrew by any chance ?
Dick I’ve seen your type on almost every AIM share.. you’re over confidence is dangerous IMO and you fail to properly consider the risks even when it defies logic. Look at HBR yesterday… the North Sea is not a good proposition right now irrespective of all the tax / loss write offs it’s fundamentally now messed up from making decent money on oil extracted and sold. End of.
We rarely get snow on the north west coast, but we have several inches up here today. My mind has drifted as JOG goes in the opposite direction to my Smart Meter. Hopefully this trend will reverse before April, I need a holiday.
PS: My gut feeling is that the strong winds will ease off a bit later on today.
Do you find this helpful?
..........as if anyone with sense gives a fig about what you and JB think, JS. My dog understands a lot more than you do about everything you've amply demonstrated you fail to master.........
No offence intended - guess you just weren't born very smart.............
dyor
As much as I hate to admit it , but you may be right Briggs
I think that’s true but it defies logic to think it will be a successful conclusion at this late stage. Market knows it.
My gut feeling is we will get an RNS before the end of the month .
Anyone who thinks AB will be booted by the BOD if this passes 31st of march is deluding themselves, this is aim not the main market. All they will do is fall back on their usual disclaimers and reference their understanding of the situation as it stood at the end of November when the RNS was released. There is no accountability on aim.
This is starting to feel like a slow form of torture, it doesn't help that the longer time passes I look at ABs CV and think why would someone leave an investment bank job at Deutsche to become a Spanish estate agent, did he only get the job at Longreach as his dad threw him the job and then managed to get booted out as CEO, did he only get the job at JOG after presumably a family friend (RL) got him in, surely though they wouldn't be awarded licences and extensions if he wasn't up to it but the longer this drags it's hard for doubt not to creep in, at least there isn't much longer to wait now until we find out, praying this does come good and he can pull it off, the oil is there and oil cos need something to offset against so any other time would look like a dead cert, realistically having waited this long it seems logical nothing is going to happen now until after the budget and then it should soon follow, but then logic and JOG rarely seem to have much in common GLA
.....well said, FJ
Well 16 days to go from the "Certainly" deadline.
Can't believe this was in Mr Benitz plans on the 29th November 2022, but in the spirit of fair play, 16 days it is.
A lot of money tied up in this, so like all genuine holders, rooting for a successful outcome, although more apprehensive as the days pass.
16 days of waiting to see if the RNS drops.
If 31st March 2023 arrives with no news (please no), I think Mr Benitz would have to go, as would any advisors who signed off the RNS on 29/11/2022.
They would be a busted flush then.
Neither the market, nor the vast majority of shareholders could really trust a word he (they) said, and confidence is a huge part of the success or failure of this Company.
With hindsight, it was a real "brag or burst" statement in the RNS.
I wonder if there is regret that the language was used - who knows apart from the Board.
Still holding and hope with all my heart the Mr Benitz is bragging about the deal struck - I will be quick to criticise if the certainty doesn't come to fruition, so in any fair world, I will happily cheer any success that he brings.
Come on Andrew, issue us with an "I told you so" RNS and bask in the glory.
All Tax should be at the point of sale , the only way to get back at the dark economy.
A bit quieter than yesterday. I wonder what the next step will be? GLA
Article by Tom Espiner BBC Reporter is interesting: This is an excerpt:
........When he was chancellor, Prime Minister Rishi Sunak brought in a 25% Energy Profits Levy.
This was increased to 35% from January 2023 by current chancellor Jeremy Hunt, and will run until 2028.
The levy applies to profits made from extracting UK oil and gas, but not on refining, or selling petrol and diesel.
Less than 5% of Shell's profits come from UK production.
The scheme was criticised because it allowed oil firms an 80% investment allowance which overall allowed then to claim back 91p in every pound invested, including in oil and gas.
This investment allowance was reduced from 80% to 29% from 1 January.
However, the biggest oil producer in the North Sea, Harbour Energy, has been a vocal critic of the tax.
It said on Thursday that the Energy Profits Levy had "all but wiped out our profit for the year". Harbour reported pre-tax profits of $2.5bn, but tax - including $1.5bn set aside for the levy - had left the company with $8m in post-tax profit.
The tax "has driven us to reduce our UK investment and staffing levels," said its boss Linda Z. Cook, who used to be a Shell executive.
She added that it had given impetus to the firm to expand internationally.
Harbour Energy has not gone ahead at drilling at two sites, and did not take part in the latest North Sea offshore licensing round, a spokesman said.
That said, I think the investment allowance is good for JOG negotiations which clearly are continuing. I continue to have faith in the Board to deliver a favourable outcome for investors, including themselves who have significant skin in the company.