Enquest Share Chat (ENQ)

We badly need an unexpected draw this afternoon.

Confucius he say pessimist never disappointed.

That's Good news chilt, long may it continue. God I hope tomorrow turns out very well.

Confirmation now - NO is on her way to Scapa Flo with what looks like a slightly larger than average load - probably around 550k.

I really do not think that even if the update is superb tomorrow we will see much interest and if we are treated to a small rise it will be short lived. Oil companies are as popular as a Corbanista in the oval office. This year is proving very difficult to project and where it will end up. An election will not solve the Brexit issue. Money will not open another can of doctors and nurses. There is little skilled labour to build thousands of houses and appointing 20000 more police is pointless if the prisons and the courts are all full or failing. I am heavily into Enquest and like a lot of others am well underwater. Fortunately the purchase of a new property meant that I turned quite a lot of investments into cash. Now having sold the old one I have back. It is sitting at building society and think myself lucky to be earning 1.3%. Getting mugged in the centre of an East coast town at 15.30 changes one's view on life for ever. Thankfully there are still others who comes to ones aid..

Hi DD, that means Morningstar has been wrong for quite some time. I contacted IR in May so they can hardly say they're unaware. The problem with 'Major shareholders' is that they have some similarities towards a Poll and we know how accurate they are. The company relies on the major shareholders keeping their holding updated (within reason as sometimes there is a need to delay trade notification) and some have a pretty cavalier attitude towards it. I'm not sure but it may be voluntary anyway. The only time I believe they are legally obliged is during takeovers, RI, OO etc....
I am p*ssed that IR haven't corrected Morningstar as it would only take a few minutes. I'd forgotten the large holding of the Employees Benefit Trust and expect they'd vote with AB. What is a tad worrying is that nobody else spotted the mistake or perhaps this board is a majority trader's site where things like shareholder makeup holds little interest. It does though illustrate the lack of research of those propounding going private. I put it in the same class as oil heading for $40/$80 or the price next week.

This from IR in May: "AA and AB are effectively the same. Most of Amjad’s (AB) shares are held through the firm Double A, with Amjad also having a much smaller personal shareholding. By adding the two together you get your estimate of c9%
To potentially confuse matters further, he has recently bought shares through his charitable foundation. Again, fairly small overall so his combined holdings across the 3 “entities” is still just over 9%."

Be Lucky

Don't fancy winning that Pelle but I suppose I could auction them off for charity.
Agree with your guess but I have a slightly higher production between July -Oct of 78k

Prod BOEPD Jan-Oct 69.69kboepd
Jul-Oct 71.25kboepd
Net debt end Oct $1.499bn

Morning DD thank god I've been let out the cage. When we covered this last time I actually spoke to IR to confirm our Major shareholders, I even asked if AB would consider taking the company private (Silly I Know but if you don't ask you don't get) The response I got wasn't clear cut. Here it is - The directors have a duty to act in the interests of their shareholders. Our CEO is our largest holder and our management teams are also rewarded to some extent on the basis of share price performance through their long term incentive plans, so clearly aligned to improve our share price performance.

Time to put your estimates.
First price, VIP tickets to Therapist nightclub “undressed”

Prod BOEPD Jan-Oct 69k
Jul-Oct 70k
Net debt end Oct 1550

Watcha KO - out the cage!
Morningstar has 10.4% AB and 9.5% Double A, but you are correct the ENQ site has 10.12 % all in, so my sincere apologies for posting up numbers that appear incorrect - but makes the rubbish about taking this private even more absurd!.
Sorry romaron.
Will go back to lurking in the background!
DD

300 million mc with a guesstimate net profit of 200 million dollars for 2019 - what a joke.
Bring on tomorrow

DD AB and Double A limited have a combined 10.12% not 20%

romaron
I posted “Given that AB plus Double A only have about 20%” which is correct and Double A is not the largest. IMO the foundation would support AB making 20% that’s all I was saying so we may just have to agree to disagree.
I do agree however that talk of being taken private is mischief making as you say.
All the best.

It looks like the offload is over - around 25 hours - but AIS is still so poor that it is impossible to be 100% certain.

Draught and destination not yet updated for NO but she should be on her way to Scapa Flo - she is expected at 21.00 this evening.

Up or down today is anyone’s guess. Oil down 4.5% on the week so far isn’t helping

What are the chances they announce another large project, they are already in the 1-2x debt/ ebitda ratio zone , so what’s stopping them trying another . If the project or acquisition is significant enough, and adds many years of reserves , then it could be a good thing that improves the market cap and SP, Is AB smart enough to pull a rabbit out of a hat? I’d say Yes !

DD, I don't think you read my posts correctly. I haven't given any thought to the company being taken private because I think it is mischief making and have better things to occupy my time. I was merely correcting your suggestion that AB has control of c. 20% with his holding, the foundation and Double A which are basically the same thing; Double A being the largest. The total is c.10 not 20%. That's all.

Hi Dontbealady, you look good in lycra? Womble.

Romaron,
You are correct, never said otherwise, you just didn’t read my 19:52 post correctly and are you saying Double A would not agree or vote favourably for AB?. Irrespective of this my point was that talk of AB taking this private is complete nonsense IMO as he would have to get 66% of the shareholders to agree to his offer.

gkb-wouldn’t lose any sleep, respect your knowledge but wind up or not I do believe it’s fundamentally wrong to post up such things on here, sorry but if you are invested why post up rubbish that would / could deter pi’s from investing here, makes no sense to me.
Anyway, enough of this and all the best for Thurs.

DD

KO,
Yes, but he can make an offer 25p take it or leave it any day.
If he gets 90% acceptance it goes through.
Seen it many times happen with big owner family.
And with so small MC now compared to FCF its dangerous

Either MC must go up in 2020 or we will see some changes on owner side next year I think.
If AB does it or some new player comes in and also try to get controll or 10-20% I dont know.
Exciting future with 400 mill MC and 600 mill FCF

Most shareholders will give up holding on Thursday, their cash is being left here to rot. My guess is the price will plummet if they don't issue good enough facts. People will sell and buy (if they want to waste their money)next week under 15p. That's the way I see this share going. 19p is the new 44p

That’s a lot of stock to buy before he has to make a offer

A shareholder needs 30% of the shares before he/she has to make an offer
Double A Ltd (AB ) owns 10.12% worth just over £30.3m
So he needs the other 19.88% before making a offer.

Be interesting to see what prices have been secured