Enquest Share Chat (ENQ)

So tomorrow looks like another day of pain as the market pushes us down to 28p, hopefully that’s the bottom. Might have to add to my over exposure

Cheers NTG...

28p is a sucky rump price, >5p below pre-offering TERP.... Only hope AB picked em up... Will probably turn out to be bought by arbitrage specialist...

Imagine if was a sucky RI... MO has gone off RI !!!

Ohhh-hummm

MO

Nick, Ta. So, there was a good reason to bring the SP down today so that these shares are taken up on the cheap by JPM/BOFAML's 'clients'. Nice.

Once October shakes out and the Magnus deal is completed, I believe that fundamentals will kick-in and this would be higher. I'll try and buy some more tomorrow if it does stay at these levels.

Thank goodness that someone was interested and they didnt need to be flogged for 21p. What a relief!

These guys don't expect to lose money on them (MGT/BOA). There's always a price and they may already have placed them. They needed the confirmed numbers before acting, obviously. They are insiders so would have known before the RNS. I have no doubt bargain hunters would have been sniffing. There may be some interesting reading in major shareholdings.

PRDaynes - the economic date is 1/1/2017 and all revenues/net cashflows accruing since then will be assigned to ENQ. You can see from the RI prospectus that circa $163 mill revenues accrued from Magnus to BP in H1 2018 and all of these would be transferred over to ENQ. And so would the net cashflows from 1/1/2017 go towards paying off the vendor load, which is to reduce to $100 million (from $200 million) by end of 2018. Given that BP is still owning these assets till completion, BP is liable for tax payment on these cash flows in the interin till completion, and this reduces the cash flows accruing to ENQ. After completion, no tax provisions will need to be made and 'gross' cash flows can be used both to pay down the vendor loan and also start accruing to ENQ for debt reduction.

There are good tax advantages related to Magnus cash flows after the Magnus transaction completion date..All the market and these blinded analysts care about is headline debt reduction and that will happen meaningfully in 2019.

No me neither so I looked them up. In the US they have 754 bio client assets. They have this to say about oil.

"There are three primary reasons that we are raising our oil price forecast for a third time this year: First, Venezuelan oil production
continues to deteriorate at a much faster rate than we had predicted at the beginning of the year. Secondly, the sanctions that the
U.S. has placed upon Iran are already having a much greater impact on Iranian exports/production that we thought just a few
months ago. Finally, it is increasingly clear that the consequences of IMO 2020 will effectively mean a 1 to 2 million bpd reduction in
global oil supplies starting late 2019. The consequences of these lower oil supply estimates are that oil prices must increase to levels
that are sufficiently high to begin meaningfully slowing global demand growth over the next few years.
Accordingly, we are raising our 2019 forecast by $10/Bbl (or ~15%), to $77.50/Bbl WTI and $90/Bbl Brent. For 2020, the cyclical peak
year, our price deck rises even more sharply, to $92.50 WTI and $100 Brent (representing about a 25% increase from our prior
estimates). Beyond 2020, we are raising our price deck by $5, to $75 WTI and $80 Brent. Not only is our new price deck at the high
end of consensus, but it is even more striking when compared to the longer-term backwardated futures curve. Specifically, these
new out-year oil price estimates are now about 30% above current futures “strip” pricing. While we do not think that triple-digit
oil prices will become the new normal, at least temporarily that is what the market should require to squeeze demand out of the
system."

It's a crystal ball forecast but then; so are all the others.

Source Today's FT.

Just out -- all placed at 28p each. So that's a relief in that the overhang has gone!

I am struggling to see what value AB has created. At the moment the shareholders are hit by everything thrown our way and we have pumped in lots of money at the same time that poo is around 80. Under those circunstances AB must create value for shareholders. What the hell is going on???

Turnover today was very high at 20m, including some large after-hours deals, one trade of 3m and at least 2 of 1m. It's possible that some of the rump was sold on the open market and some placed. If say JPM were offered 28p for placements then they may have felt bound to sell some at a higher price in the market even if it made things a little disorderly. We may know tomorrow morning. Brent was steady today in $ terms so up in terms of £.

Come on LSE2000 we need you to laugh at us again, saying Enq is going down the pan !
Come on we need this to bounce

Im over exposed with Enq and Im losing my patience now, been holding since 2015 and unless your a day trader your investment wont of increased. Every time we think Enquest is improving we are hit with something else ! Its getting rather tiring !

Good evening KO...

Did read that AB's company Double A were looking to pick-up some rump from rights issue, so never know regarding 22.8m outstanding shares from RI...

MO did have fantasy that JP Morgan decided to pick them up, seemingly have been a supporter of ENQ for a while...

Is good price to get that volume...

Good luck all

MO

If you knew that EnQuest was going to get beyond 60p by the end of January what would you do now? This is my guestimate and we'll see who gets the last laugh! All aboard and all the best.

So they must be shorting Enq for a target price change from 64p to 25p !
Maybe they have a submarine locked and loaded ready to fire one up the stern of Kraken ! Lol
About time AB put Jeffries in their place !

What happens on the 30th october wisdom?

Am I right in believing that when we complete the Magnus deal as it is backdated to 2017 the 12,500 bpd that the 75% share has been producing will be reassigned to Enquest production (though the revenue will be assignd to repaying BP)
This should mean our production for the whole year will look dramatically better. With Magnus we may already be getting close to 80,000 bpd

But Freddie, sums it up well...

https://www.youtube.com/watch?v=t99KH0TR-J4

Good luck all

MO

Never mind what Jeffries (who?) say with their 25p - The real test will be after 30th Oct - and I suspect a much better price will appear! GLA

Lol - A one track mind is a great strategy today. Just focus on one subject other than ENQ share price.
It will reverse and go back up, but what a great price for new investors.
Anus Horribulas

No rump placing RNS yet? Surely it can't be that difficult to get 4.49% away?

CNE going down by the same percentage as ENQ. This is non-sense. They are joint owners of only one asset, Kraken, but they own different stakes. So, they should vary differently, even accounting for price of oil changes. I am ignoring the noise until further news. If #26 takes place with a shorter interval than last time, the tide will turn... DOYR.

Don't even think about it, lol

Is silly joke...

"When asked if they would have sex with Bill Clinton...

86% of women in D.C. said,

Not again."

LOL, ROFLMAO (I think)

MO

ENQ_Holder - the rights have merged in my Interactive Investor account. They've not yet done so in my IG account.

MO - all these sell-side investment banks have agendas and yes, they do move markets, even if it is always transitory. We pin own strategy on fundamental outcomes and we'll soon see who'll win this tug of war.

very best to you...