Q1 - 2024, page-294

It is understandable why people would sell, however any licenses issued prior to Labor possible changing of the rules on Nth Sea Oil and Gas would be still honoured by Labor for development.

The UK Investment Allowance against the Energy Profits Levy, as it currently stands, is scheduled to end at the same time as the EPL, which is 31 March 2028.

As this is legislated, I am assuming this end date will still apply, but the headline rate of tax on oil and gas profits will shift from 75% to 78%.

As per Sergeant's post, "Viaro Energy acquires 100% interest in West of Shetland license", to me it clearly indicates that RR are not sitting on their hands with Labor's intentions and imo RR would be still as keen to progress our project.

Now a lot of us have been bitching about management, but imo we are fortunate that this deal was initiated with RR, as imagine our predicament if at this point in time we were going it alone and looking for funding?

Based on the latest polls, unless Labor shoot themselves in the foot, they will form the next Government. Rishi Sunak will want to close the gap before setting an election date. The election must be held no later than 28 January 2025.


US Presidential election is slated for November, imo Sunak only chance is to see if Trump gets elected and hope that UK voters see Trump as an unstable global influence, which may sway votes back to the current government, rather than a change to Starmer's rapid and transformative policies.