Enquest Share Chat (ENQ)

Just relax krakenoil. We are on the road to nowhere

That last half hour was a bit over done ! UT marked us down on the days low 19.38

I’m in agreement with you Chilting. Scenario not dissimilar to previous downturns in the UK housing stock, given time negative equity comes good. Or like Lehman’s, the receivers had a big issue, when they ended up with a surplus after all the assets were liquidated. Time is a great healer

To blame it all on Brexit is too simplistic. I am going to think more about this because it has got me interested at a time when my portfolio has stagnated and there are few temptations to trade. Last week I met a woman who worked in child protection who looked blank when asked about county lines. I also met two young people who could not explain interest rates and the effect they have on buying a house. Ignorance plays a huge part.
Oh well I shall continue my thoughts on my afternoon walk.....

All the uncertainty over Brexit is the problem and the damage it has done to the economy.

Regardless of the eventual outcome it has been the uncertainty that has caused the damage - not the final verdict.

A prime example is Woodford - he basically thought leaving wouldn't make too much difference to the economy so he carried on investing in UK companies, expecting a bounce - he ran out of time waiting for the bounce.

P*ss poor again!!!

EnQuest Plc
20.82
19.86
-0.12
-0.58%
19.75
19.89
487,965
12:08:53

Your question got me thinking back and trying to see what happened to gain confidence. I truthfully am still unsure but at the moment I am beginning to believe it was the rise in the Uk property market and the ability to rent cars. Both now are in the doldrums and hey ho we are are back to to where we are.... Am going to continue to analyse as you have touched a serious question I cannot answer to my total satisfaction yet..

Going through some old stuff and I came across this regarding Kraken:

Closest Field Analogue

Mariner (Heimdal-III)

I had taken my eye off the ball regarding Mariner and since getting OGA production now needs a degree in advanced computer management skills I decided to go to default mode and google it. Oh dear, the mighty Equinor with all its resources is still encountering engineering obstacles. This oil business isn't as easy as criticising management. Perhaps it would be a change to congratulate the team of a much smaller company getting a project the size of Kraken to production. Nobody said it'd be easy.

https://www.reuters.com/article/uk-equinor-britain-mariner/equinor-again-delays-start-up-of-britains-mariner-oilfield-idUKKCN1RM0ZH

*Heimdal-III sands (Palaeocene) is the same as Kraken and they also make comparisons here to the Captain field. Please don't imagine I understand this stuff but blame ProdOpt (28 Feb 19)for sending me off at a tangent.

https://www.spe-uk.org/aberdeen/wp-content/uploads/2014/07/16.-The-HSP-Versatile-Artificial-Lift-Choice-for-the-Heavy-Oil-Subsea-Kraken-Development-EnQuest.pdf

It is a fault. I composed a couple of posts that didn't complete the transition after pressing post. Possibly due to the new website being prepared. Suggest you check the post went through and copy in case it doesn't.

Monkey, seems some other also had problems. Post again.
Too quiet here last days

My earlier post was to thank everyone for their knowledgeably posts which is causing me to get quite clever about the oil market,so much so that up here in the north I'm now know as posh and clever!!!! Ps i have a twinge in the nether regions and the last time i had one of those we went on a steady rise!!! The one before that one involved Mrs monkey so not giving anything away about that!! Good luck all and thanks for the continued posts

Can anyone see my earlier post? Or have you all filtered me out lol can't even see it myself !!!!

I'm not very good at interpreting financial data of the complexity of ENQ's so i appreciate your analysis Londoner!

I read the annual report yday though on plane. Looks like making significant progress to me.

L3
The simple solution to the problem is to get Venezuela up and producing again and supplying the US but when and if this will happen is unknown - they have plenty of heavy crude.

The Russians have taken a big stake in the Venezuelan oil industry and are probably propping up the Maduro regime so things could get interesting.

Meantime, heavy crude will go short - let's hope Enquest can take full benefit - with the US being the main destination for Kraken crude it looks like they maybe already.

I think Anas is spot on about that, and IMO2020 will help even more.

He wrote about a new attac this morning.

https://twitter.com/anasalhajji/status/1141227983878967297

Anas Alhajji,a few months ago wrote an op-ed for the Financial Times arguing that "demand is growing substantially for heavy crude while supply is growing substantially for light crude from U.S. shale, creating a mismatch of supply and demand. The imbalance will choke off the growth of shale and the broader market, leading to an "energy crisis."

For him there are two problems: i) where will all this light, sweet crude go? Not enough refining capacity.
ii) there is a mismatch between the quality of oil produced and the products we get out of it. The demand for heavy crude is coming from diesel, Alhajji argues, as emerging countries grow their economies and need more fuel for trucks and heavy machinery. That demand will continue to grow. Further, he says, refiners in these countries (and in the U.S.) have invested heavily in refineries that use heavy crude.

so, according to him: Price differentials will skyrocket as international prices jump while shale oil prices fall below break even.

anyone has any thoughts on how sound this reasoning is?

many thanks again to the best BB hosted by LSE.CO.UK.
Special compliments to Londoner7, Therapist, Chilting, MO (who does not reply to my queries..), Pelle, E121, Squif and many others.

GLA

McLondoner,

I replied twice yesterday but both have failed to appear. Maybe I have filtered myself?

Anyhow in short, thanks for your efforts and explanations. My Jan / Feb figures differ by about 400boepd. I don't know how far back you went for averaging but I guess recent form at Magnus would explain that difference.

Trainspotting isn't far removed from Tanker Watching.

GLA XXX

Need to get your vessel shipshape Spindok & hopefully history will repeat itself... Can you recall what caused the spike 10 years ago .?

It always pays to be optimistic. Today has been better than I expected but we have lots of false dawns.. This year reminds me of the summer of ten years ago. Nothing much really happened. Boredom led me to take Madam Spin on a cruise and we ended up a creek and missed the only spike of the season. This time it is not a problem as the vessel is in dry dock due to a collision!!

True Spin, but ultimately value will out or in the words of Kevin Costner build it & they will come.

Back up to 20p, 30p would be better...… Come on Enq

Thats why we are all skint!!

Thanks guys for your in-depth posts. As already said it’s so much easier to make investment judgements based on what you all kindly post. Much appreciated.

I certainly give it to AB for his confidence and it's one of the main reason I'm sitting tight and not worrying about a 1 or 2p fluctuation.
Build it and they will come ...