Borrowed this from a thread on HHR that I follow. I know @potgut and others have raised it before, TEG (with Athena) has a pretty substantial resource footprint in the Southern North Sea.
The current UK Energy Profits Levy is due to finish in 2030 and the UK Govt is also "looking at allowing oil and gas production via adjacent fields as it bans new licences". (which is what TEG/Athena have)
These licenses were opportunistic and don't have any value yet. If the tax regime becomes more favourable though they are the infill fields that could be developed. It is a low cost investment with a similarly low chance of success but it could be a dark horse in TEG's bag of assets.
TEG Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
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