http://www.falklands-oil.com/

http://www.rockhopperexploration.co.uk

http://www.argosresources.com/




Rockhopper was established in 2004 with a strategy to invest in and undertake an offshore oil exploration programme in the North Falkland Basin. It was floated on AIM in August 2005. Rockhopper was the first company to make a commercial oil discovery in the Falklands. Today Rockhopper is the largest acreage holder in the North Falkland Basin, with interests in the Greater Mediterranean region.

decided to take a sizeable profit on this one ahead of the budget.

can never be wrong .... i still hold quite a sizeable lump, but have profitably traded in and out along the way in the last few months ..... technically, RKH should not be affected by the budget, but if the markets take the pronouncements amiss, then selling will be indiscriminate

cynic don't forget CGT!

ah yes, though of course one has to make a profit to pay it - lol!

Presumably the CGT allowance change could be applied retrospectively, back to the start of the tax year?

harry or perhaps the increased rate may not apply until next tax year.

You wish, h!!!! I think HMG want to start reducing the national debt this side of Christmas!

retroactive law is bad law and fortunately very rarely implemented

harry don't you get it, taking a profit now is not affected by an increase in CGT next week, unless it doesn't take effect until next tax year.

if it is back-dated to 5th April this year it does!

As a late buyer of these, I am wondering if the rig is going back to Sea Lion within the month?
Halifax, you are right about profits.... assuming you make one.. :o)) .

I don't think it will be introduced a la N.C's wishes, it may well be watered down, but wouldn't increasing the CGT actually be a retrograde step, would it result in less activity and therefore less income for HMRC from the 1/2% buying fee. What about introducing a tax on CFD's and spread betting. I'm not suggesting this but it could be an option.
2517

Yes, I get it, h. My point is, if you are selling now in anticipation of an increase in CGT, if the CGT %age is back dated to 6th April 2010, it won't make any difference. Also, your point, if CGT isn't increased until next tax year, HMG won't get their hands on the money until late 2011 or early 2012 & that is not going to happen, imo. Try & keep up! ;o)

harry it still has to be paid sooner or later it is just a question of whether you pay less now or more later... keep up!

profits on CFDs are already taxable though not on s/b .... damned if i see the difference, for they are both gambling, but that is apparently the reasoning

I thought CFD's were free of tax, that's how much I know, I have never used them, should have been sure of my facts before posting.
2517

No, not cfd's....spread bets yes....but cfd's add to the capital gains or losses.....I'm not too bad on shares but zero on cfds...but Cynic seems to be good at trading them...

With cfd's : you could have shorted BP., and when shorting you put up front 30% (this can vary...with BP.10%)....and receive a small financing..., when going long you pay a small amount out every day....very tricky to play...got my fingers burnt many a time but hoping to turn around my account...I prefer shares....

when shorting BP CFDs (aka charity for distribution) you only put up 5% though with RKH it is 25% rising to 30% after 10k shares ... on some, it can be as high as 50/75%, though that is quite rare

PS... off subject ...take a quick look at Avocet Mining (AVM)....could be a breakout about to happen....