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Disco - the difference is that I don't gloat and I treat people with respect. I don't get upset and filter people who have an opposing point of view.
If you think I am trolling the board then I'm afraid you are just a sensitive soul.
Sorry if I have hurt your feelings big man.
Jeez, for three days solid all you’ve done is post on here talking rubbish.
Some advice, close your short here and with what little money you have left go get yourself some ******* singing lessons because your singing is as crap as your stock picking.
In the troll cage you go.......filtered.
Of course recession becomes more likely with high oil price
Nufcfan - glad you get such pleasure from my supposed misfortune.
No, as I have said before this is a one way bet on oil which I am not willing to gamble on. Political developments have swung towards high oil prices. It doesn't put me up or down. You are on the gamblers high at the moment so I can forgive your malice towards me.
If ENQ can get a floor of $68 for a big number of barrels for the rest of this year and H1 next year then they should do very well.
This rally needs to be based on more than speculation before they will get those hedges away IMHO. ENQ also have a pretty poor history with hedging.
Ndalla - I am criticising BTFATH1 because he/she/it was saying what a great buy this was then 2 minutes later telling us all he had sold, and due to his great trading skills knew that he would be able to buy again at 19p.
Thanks ndalla just filter him his incessant nonsense is entertaining at first but becomes tedious very quickly.
It did not buy me back in and looks as though it is good for at least another 5% er well done all.
Out and about tomorrow but will assess when I can atb
I hope that someone listened to me when I said that many of you guys worries to much of a potential reccession. Since then brent is up with almost 10$ that is a massive impact on enquest fundamental and we also have two insiders that have bought shares, the case is very simple for me. Good luck now everybody!
Yeah it’s looking great for tomorrow epiphany & having WiFi on the flight will no doubt while away the hours to HK. Just hope I won’t need a teargas mask on arrival...
I was over on the PMO board and noted you were on a Cathay flight (Iassume flying to HK) and checking via the plane Wifi. ;-) By tomorrow, maybe we'll be firmly in the 22s with Brent in the 70s - ideal scenario.
Cheers, Cole. We do know the SP started moving up in July after a string of purchases by AB's foundation. And we've seen the same happen just now with the foundation and that's a harbinger of things to come, IMO. Albeit, Enquest is in a much better position financially and Brent is even higher. :-) What's not to like..
Yes, I broadly agree, Romaron. We're in a superior position compared to the shalers who couldn't produce any FCF before this recent jump. And the falling rig counts were a testament to a level of discipline that I wasn't sure they'd have. Maybe they'll surprise us and continue pulling the rigs back, even with this jump. That'll be good for their balance sheets - whether they're disciplined enough to do this in the face of higher oil prices, that's a big question mark. We'll see soon.
Oil market is now pricing in a longer delay in SA oil coming back and Brent is well over 69 now and should be testing the 70 handle soon I'd expect. Let the cash flow into our coffers... ;-)
That’s an incredible fact colebrooke, in light of that not surprised we’ve seen this spike. When that fact sinks in imo a lot more value to look forward too.
If my memory serves me well, $69 Brent was the trigger that sent our SP to rally hard.
Yeah, they had 12 great months and we had 1 great day.
Yet they complain most.
We should go up another 5-10% tomorrow if oil holds up
ENQ most recent high was 24.42p on the 22 July 2019. Brent averaged $63 that day.
This was before ENQ most recent results update for H1 2019:
Production 68k boepd +27%
Revenue $858 Million +57%
EBITDA $526 Million +69%
Cash generated $426 +34%
Net debt ratio reduced to x1.8
Brent now heading for $70 (currently $68).
ENQ will break 24p this week.
Brent is now trading over
Well said....poor Neil Hannon has literally been caught out by events and is finding being a shorter no fun atall.....hope the shorters continue to get rogered for a while yet cos they deserve it...
Hi E121 - your 17.50. I agree that this is good news for shale but not so sure of the reaction. It could be temporary and lenders might like the respite to get some money back or strengthen their position. The shalers will press to invest so there could be a face off imo. Many shalers are in the middle of chapter 11 and other restrictions so aren't necessarily masters of their own destiny. They are where we were a few years back and there are few quick solutions. They may not be in the best position to maximise advantage from the situation. We on the other hand are in a good position.
E121 agree on the shalers although they have having a tough time with underperforming fields and financing. Could take a while.
Meantime EnQuest smashing the debt with record production.
Pelle, there are some analysts suggesting some high forward numbers for oil. EnQuest are highly geared to the price as we know. Debt reduction could be very significant over the next six months.
The sudden loss of 5.7m b/d of #oil production is the single largest outage the market has ever suffered (larger in volume than the loss of Iraqi and Kuwaiti output in the 1990 Gulf War, and the loss of Iranian oil in the 1979 Islamic Revolution
Cole - $80 a barrel will see the shalers bring on the rigs and pump like crazy. I doubt we can sustain 80 for a long time, but that'll be result, IMO and that'll naturally temper oil price increases..
Yes, I noted that oil had another leg higher to 68.50 just now. What were the predictions from Ponzi and NH this morning - $62 oil.. ;-) Go Brent and we'll see Enquest spike more first thing tomorrow..
Colebrooke, I see around 450-500 mill at 70k and 60 oil 2020.
So 80 oil, will roughly double it!
And 70k production might be low side
How much free cash flow to EnQuest at $80 a barrel ??
Hannon - there really is no requirement to arbitrarily criticise another poster because his or her financial gains are inconsequential to you. I am pleased for BTFATH1 that he is enjoying trading the share and making some profit - are you so unfortunate that you can only take pleasure in arguing with people you do not know? For a guy who has no money invested in ENQ you sure get emotional about the share. Have you really got nothing better to do than watch this board seeking an opportujnity to criticise? I feel sorry for you, you must be very lonely.
Yes, I read yday also and its still a long text for me:-)
But I think you have roughly same ideas as me.
Will you write to IR?
"It does look like the damage caused in Saudi won't be remedied quickly as intelligence about the damage will have reached those who pay for this kind of information and oil is up c.12 percent at the mom." Yes, 100% agreed. SA will be dipping into reserves no doubt, without invoking force majeure at this time. The oil market had become too complacent about ME risks and this was certainly a huge wake-up call. IMO, at least a $5 premium will exist for oil going forwards, given this changed reality around risk to oil supplies from SA (and ME, in general).
I know you remember this well, but it was the 10 million swaps that Enq sold in 2015 for $68 that gave Enq the additional $220 million cash flows, and I remember you saying (I wasn't invested back then) that the resulting cash made all the difference and ensured Enquest survived during that horrid downturn of 2016.