My view on the wider issue is that returning carbon to the atmosphere remains an environmentally friendly thing to do at present. Nudging atmospheric CO2 back up to levels that maximised plant activity is a good thing IMO. I believe plant life dies out below 130 ppm and peaks somewhere between 1,000 and 2,000 ppm. The Earth has pulled so much carbon from its atmosphere that it has nudged atmospheric CO2 down towards the lower limit for life in recent geologic history. We are safe from that now but I like the idea of a buffer.
While increasing the concentration of atmospheric CO2 still seems good to me, slowing the rate of increase is wise. Coal is the main CO2 emitter, not oil, not gas. Thanks to abundant solar, Australia's leftist politicians are able to run with their delusions and ignorantly virtue signal, but globally I feel we're approaching the time when the amazing energy dense liquid fossil fuel bites back. I think a lesson will be taught by oil in the next 1-2 yrs, a lesson which will cause the said morons to appreciate gas a lot more.
Regardless of Australia, provided the UK gas price remains strong, the UK super tx and its offsetting investment allowance has created a situation whereby profit loaded existing companies are looking for good projects to part own, using their pre-tax profits. It has both increased the demand for good projects and pulled their development forward. Rockrose was one such primed company and we were one of the first to offer an enticing low-risk license. We have the template, so I think we leverage our first mover advantage by rinsing and repeating, ideally onto the best new award from the current licensing round.
Selling 60% into the buying interest created by the super profits generated over that first massive spike in the UK gas price was brilliant, a huge start-up boost for us. We will structure projects to minimise capital gains and while this legislation applies, I think we and our cash ideally exit to our next project (provided we have one), by selling down partially funded projects, not by holding through to production. I think we gain most by being a supplier of advanced projects into this legislation's buyers, not by holding into production. Interested in other posters comments.
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