Ann: UK Southern Gas Basin - Further Operational Update, page-39

Whatever other hurdles face RR/HHR on their path to FID the Labour parties O&G policies has got to be one of the major ones. As @aero39 said there is little HHR can do to influence Labour, it will need to be driven by the larger O&G companies.

Serica Energy, 40k/boepd production, is the latest to have a swing and has hit out at the "political short termism" in the UK that risks killing off investment in new field developments including the company's own planned projects". Serica holds an option to take up a 30% interest in the Greater Buchan Area. (FID was planned for late 2024)

https://www.upstreamonline.com/politics/top-uk-producer-issues-strong-reminder-about-politicians-killing-off-investment/2-1-1632279

The Investor Presentation goes into some more detail at the 30 min mark.

https://youtu.be/LbsG9AydUGc?si=rzfACWa7-jfGBeat

Then Norwegian oil giant Equinor ASA (80% of Rosebank ) have said they "will have to weigh plans to develop the Rosebank oil field if the UK’s Labour Party wins the next election and decides to change the North Sea’s tax framework."

https://news.bloombergtax.com/financial-accounting/uk-labour-government-would-add-risk-to-oil-project-equinor-says

There are companies reducing their UK exposure, like Harbour and Senica, while others are selling up an moving on, like ENI and potentially NEO and Sval. The UK North Sea is getting messy and it needs to in order to bring Labour back to the table re their O&G policies. While HHR can't influence Labour they can certainly be a beneficiary of the industries work.