Ann: UK Southern Gas Basin - Operational Update, page-231

Thanks @Byron,

yes the most recent announcement shows HHR are pursuing a different path. This isn't Nathans 1st attempt to put a tax based spin on this project. Both the April and December announcements were framed around tax planning.

I would like this 3rd attempt to stick but I'm not convinced yet. The theory of "capex is not gaining adequate tax relief so we will move it all across to opex to secure tax relief" sounds almost to good to be true.

The only shining light is that Labour may also be loking for an escape clause from their own policy and might somehow wave it through?

Will be interesting to see whether or not HHR can firm up this option with the government.