Borrowed this quote from over in the HHR threads. But this quote ties into exactly what Finder have released. Projects close to infrastructure are the ones more likely to proceed.
”North Sea companies will be relieved that the government hasn’t cut the capital allowance in the EPL and “this is likely to allow minor near-term investments to proceed,” said Graham Kellas, senior vice president of global fiscal research at Wood Mackenzie Ltd. Prior to the budget, the consultant had estimated that an indefinite extension of the EPL with no capital allowances could have resulted in a “catastrophic scenario” where UK production dropped by half by 2030.quote from Bloomberg after budget news...”
FDR Price at posting:
4.8¢ Sentiment: Buy Disclosure: Held
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