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Enquest over 16p tomorrow
Who took that 600k print today? Saw baron investments say he’d topped up. Or could be start of buybacks
Nm
Exxon has a market cap of $476bn on FCF of $36bn in 2023. Enquest has a market cap of $375m on FCF of $300m in 2023. The market cap of Exxon is 1269 times greater than Enquest and yet its FCF is (only) 120 times the size. If Enquest enjoyed the same ratio of market cap to FCF it would have a valuation of $3.965 bn. I would not mind so much if Exxon had greater growth prospects. But it does not. FCF in the end is all that matters. That is money that is available for distribution to share holders. Either Exxon is absurdly overvalued or Enquest is absurdly undervalued or both.
Both up 100 points today. 100.50 to 101.50.
It takes size to move it that much imo and these are professionals. A very good indicator. They hear stuff before us. They've made money with dividend and a capital appreciation. They're in no hurry for the exit.
I wonder if our stock on loan has decreased over the last month or so.
Where are these buy backs - we need them - O&G dropping fast
I Spoke too soon
Looks like the new energy sector is being part funded by the old oil and gas industry perhaps we should pat ourselves on the back eco warriors and didn’t know it. As long as I make a few bob I can live with that.
Hi Frac, that's why I love a webcast or an AGM. You see the body language or when someone is really interested. You could see that it had alerted LK's political sniffer dog reaction. That will be filed for a later programme. 'Over-ambitious' is political speak for 'we got it wrong' or 'we won't get it past the public'. Labour will do the same regarding 2030. I'm sending off missives about the NEW 9X (2X onshore, 3X solar, 4X offshore).
This is interesting: https://www.pressandjournal.co.uk/fp/news/aberdeen-aberdeenshire/6440359/peterhead-windfarm-approved/
In the last auction that got anywhere (AR4) the strike price for floating offshore was £87.30 against plain offshore £37.35. The subsidy or strike price needed for the Peterhead windfarm isn't mentioned in the article. We know offshore has shot up so there won't be any surprises when the numbers required are published and the amount of 'revenue support' which is paid by all of us.
Brent seems to be reversing some of the losses made last week.
Everyone waiting patiently for Buybacks to start lol
Thanks, Therapist, I’d missed that when Mod posted it. It is reassuring to know EnQuest has direct and high quality input into OEUK, and now mainly from the smaller companies operating in the UKCS. ( Brindex seems to have become fairly non-consequential.)
R , seems Lk’s statement on SNP politically misforcasting their targets is a set up for Labour next year … as we all know you can’t magic said#s of turbines and panels in 5 years !! Empty rhetoric that’s being stored rotting to be thrown once Labour are in the stocks !
Hi Therapist, had posted that on the 16th of April, 16:38, but bis repetita placent.
Hope the censorship comitee approves.
Hi,
I thought Steve was formidable on the latest FY results presentation. Now been sent in to play with the big boys. Politic in action.
https://oeuk.org.uk/oeuk-strengthens-board-with-three-new-appointments/
GLAXXX
Hit a rich vein there Tigar.
Hi Redbuffet
With respect please stop posting your drivel about others not posting anything of value to you? your posts or of no value to this BB either.
Thanks all for the suggestions of using filter. Have employed to good effect. I had resisted hithertonow in the hope that some of the dross posters could at some stage have shared some insight but I’m drawing a line in the sand. @Stevo12 if you post analysis on twitter make sure you share your handle!
I watched Kuenssberg again. I missed so much.
The subtitle was “Is saving the Planet going out of fashion”
Chris Stark says the “choretics” have changed which required google assistance but did say regarding the energy transition “Ed talks about it, Starmer not so much”.
Layla Moran of the Lib-Dems produces a letter from a 7 year old supporting her point
Labour has cut £28bn from green budget but kept all policies in place.
The SNP set a target that was purposefully over ambitious according to Claire Coutinho which elicited the reply from LK “so for political reasons they set a target they were never going to hit” (SNP missed 8 out of 12 targets)
“Grotesque profits made by our energy, oil and gas companies – renewables so much cheaper” said Packham. He is a busy boy. He was dressing up in Bath the previous day. https://www.somersetlive.co.uk/news/somerset-news/chris-packham-massive-bath-extinction-9236443
Shabana Mahmood - Labour upgrading Ports – definitely part of their plans. Clean power by 2030 all models say money will come from private investment and Labour will take steps to unlock private sector investment. Confirmed that gas is a strategic reserve and then repeated a simple mnemonic saying that in the meanwhile you can X2 onshore wind, X3 solar power and X4 offshore by 2030. She then swerved commenting on the ECHR decision backing a group of old Swiss ladies on climate concerns. She is giving a talk on justice tonight which might explain her appearance. Still doesn’t explain Ed’s absence if climate is so important. Seems like Labour are trying to change the conversation.
Luke Johnson spoke sense but was out of his depth in political terms. Explains why top businessmen avoid these things. You can't win as Linda Cook found out at the Audit Committee in July 2022.
I never saw any comments at the time but I wonder if Chris Stark resigned the CCC in January because of the waning political support. He is still a young ambitious guy and best to leave and change career at the top. All he said was that in election year it felt time to go. Perhaps he read the runes and that politics is far different when in power to when in opposition.
Where's Ed?
Wyr are you on here then don't bother
Onedb completed agree as there was always going to be a back test, especially with the pull back with Brent over recent weeks.
It’s looking very good indeed and 18-19p would be a good target in the next few weeks.
Be interesting to see what buybacks do to the SP. Worth considering that HBR didn't rise in response.
Very good chance we'll see 21p or higher in my view, just might take a little while. I've held my shares.
Its good to see the 200 simple moving average starting to slope upwards again . Usually a pretty good show of trend strength. LIke it or not its the consensus over 200 days and its now pointing up .
Https://twitter.com/ShabanaMahmood/status/1782020339431551204
I looked at the latest Labour postings on 'X' and they did mention yesterdays Kuenssberg programme on BBC. From a programme largely about climate change they attacked the Tories on the rule of law and ignored the climate aspect. The Labour party is fully aware of the importance of social media and none of the postings are accidental. They aren't left to a junior to decide what goes up and all posts will be run past a senior advisor. It also follows that anything that might not help Labour's cause doesn't get posted. It is a weathervane.
Ed never commented.