UK North Sea Energy Profits Levy

I'm not a FDR SH however have an interest in what is happening in the UK as I hold HHR. (and hopefully one day FDR) LIke you guys we have been struggling to seperate the media reports, lobbyist claims and industry reports with regard to Labours changes to the EPL, particularily with regard to the end of Investment Allowances. On everything I read it is the end of the North Sea O&G, no projects will go ahead etc.

We have a poster @sergeant who has really spent some time understanding the changes and quantifying the actual change in Total Tax Relief for Investment Expediture. Prior to Labour, total tax relief was 91% under Labour total tax relief will drop around 8-10%. While any reduction is a negative it is possibly not as fatal as is being represented currently.

Nothing is set in stone until the October budget however all the talk has been about Labour potentially reducing the impact their policies are expected to have. @Onspeed and @Youngn1990 though you guys might be interested. I know FDR have their big aquisition to worry about but good news on the UK assets never hurts.