Given that George Osborne's Budget today is supposedly to contain a tax cut for North Sea oil producers (BBC News), is now the right time to think about buying into under-valued North Sea oil producers that have been hammered by the oil price collapse?
A number of companies could be affected such as EnQuest (LON:ENQ) and Ithaca Energy Inc (LON:IAE); my eye has been caught by Ithaca Energy Inc (LON:IAE), following long discussion with @chrisoil.
There certainly seems to be some deep value here, with a 0.16x price/book value ratio:
Edmund
