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Payed of send Krak to Turkey.
Enjoy the afternoon
Momentum and Sentiment = Momentiment or Sentimentum if you prefer
Just to be 100% clear. HMRC keep 40% of the cash flow from 1st jan 2021.
Your post at 1546 reads like you think otherwise.
“I don't think I put a date on when you actually get the tax back.
However I understand that It is taken off the price paid for GE on completion (now). That's all the tax benifit on the revenue since January. As HMHN says it should knock the price down by around $100m.“
No MrD that's not what I was saying in 14.28, and you know it.
Your being a little sneaky !
It is plain to see if you read it correctly. "The tax on the revenue" and not the revenue itself !
mrd - apology accepted. Stupid questions aren't stupid to those asking and they can elicit good info at the right time. We all know COP26 outweighs practically everything in the next few weeks but counting barrels and tax matters are also important.
Stanley - torture any theory long enough and you can make it say what you want to hear. You would have been a star during the Inquisition. As always it is a combination of things and your "momentum" is a result of this and is anyway only of hindsight academic interest which you pride yourself on. I agree to everything you say now can you leave me alone.
Eat more protein.
Lol Chilting, I think what you are on about boils down to,
“when there is good news the price goes up”
And reflexivity, which is not exactly rocket surgery either.
Jan I believe you were saying that the purchase price is reduced by pre tax cash flow at 1428. This is not correct
Romaron - stupid questions can be good. Perhaps a little blunt of me, apologies for any offence.
Hopefully, we will all get a demonstration of what I am on about over the coming months romaron - remember momentum and sentiment.
I been out all day just catching up on posts. I liked your post on my ramp, it was a tongue in check one though! I did say if the story is true, it should double.
I Honestly think the market rarely moves because of any post on a BB and will never move because of one of my posts. But if it doubles in price in the next month remember I suggested it might.
Hi mrd - you probably haven't noticed but I don't worry to much about detail and don't get embarrassed when I'm wrong. I quite like throwing in odd ideas and questions, they generate debate. Some posters remain quiet if they don't understand because they're afraid of looking silly. Comments like yours encourage that attitude. I don't care. I doubt you and I will ever meet in person. When I have gone into a little more detail on something I do know about it seldom gets questioned even though I know few here would really understand it. Not out of their stupidity just in an area they're weak in. I'm weak in plenty of areas and happy to ask for more info or even challenge an "expert" when it doesn't feel right. Jan was happy to help me and I remember once someone upsetting him about his experience and he gave them a blast because he has plenty of business experience but doesn't go on about it. I do go on about FX but only because the markets at the wholesale and professional level are very different to retail. Not because of intelligence but the sheer amount of data and fresh info at your fingertips but the people aren't geniuses. Most quant or derivative traders are extremely bright but lack personality or warmth. My heat pump rant helped quite a few. i'm no expert but the one eyed man in the land of the blind at times.
I begin to warm towards you and then you slip back into your NeilHannon persona.
BTW - I've no idea what Stanley is on about and I'm confused about impairments in the accounts.
*Is JOG in trouble? Suspicious late reported trades. Goes to show what the market thinks of 2C reserves. Bressay isn't worth much either but has an experienced company and a major involved. Different story.
Specialist subjects : Italian Lira swaps between 1977-1999 and Soul music mid 60'-70's especially Otis Redding
Hear we go an example of momentum and sentiment -
Enquest SP November 7th 2016 - 25.75p
Enquest SP January 12th 2017 - 54.5p
Surprised these boys romaron and Jan can't read;
It's in the highlights, - oh no it's not.
Jan doesn't know it comes off the price, -oh yes he does. 14.28
The point is that my BS comments are a reflection of the market - it simply doesn't follow logic most of the time - equity valuations are all over the place and momentum and sentiment often play a much bigger part than common sense share valuations.
Bit surprised that you can't read Mr Ccc,
My first post on the subject at 14.28 clearly states that the purchase price is reduced.
Go back and bucking read it!
So I read it right and your the one who makes mistakes in your reading. Perhaps you should learn to read too, before you have a pop at romaron and myself.
Sorry, not in the highlights, but also not buried I. The prospectus:
“EnQuest plans to finance the Transaction through a combination of a new secured debt facility, interim period post-tax cash flows between the economic effective date of 1 January 2021 and completion, and an equity raise (collectively the 'funding arrangements').”
Romaron - no offence intended, I am genuinely surprised as it has been widely discussed on here. I was surprised that both jan and yourself were not aware, given the big difference it makes to the reduction in purchase price.
I am not an accountant but I don’t think that is necessary to understand the basics of the deal. The answer is in the “highlights” section of the relevant RNS.
My expertise, or interest at least, is on the technical side of the industry. I don’t have excellence in any field.
You're right mrd - I don't know everything and have no intention of learning a new skill when others here are better at it than me. Happy with my level of ignorance. What are your fields of excellence?
Surprised at some of the LTH ignorance about this deal! This is material stuff you are uncertain of…
Chilting - yes you are full of BS as far as I am concerned. Meaningless or very simpleminded posts. I would swear you used to be better. Maybe all the trading has dumbed you down a bit? Certainly seems you have been phoning in your “analysis” for the last year or 2.
I agree romaron
As i wrote the company will continue.
Enq will build a lot more.
I however think that what they already built should be more then enough for anyone to come.
Aloj 15.43 - Sorry, I missed your post "Build it and they will come" is a truism. Some attack it but is that an attack against EnQuest or me? I just like it that it winds them up.
I have been giving this a lot of thought lately and the sector/industry is dynamic and because of the amounts and potential rewards involved will always attract a lot of interest. As COP26 approaches we are getting climate concerns 24/7 rammed down our throats and it is persuasive if you don't hear the other side. I am actually considering an EV when in fact my mileage hardly warrants the 2 cars we have already. Advertising is persuasive.
But I'm afraid I'll have to disagree with you though. I think we're still building the company. I doubt we'll hit the credit markets too hard as that is a NO NO and actuallys sets the price back. For now it has to be organic growth or an alliance with somebody with deep pockets. Vendor loans help buy declining assets but for a new development you need to be "creative". The other 2 partners with us in Bressay fill that role. Equinor has the deepest pockets but HBR is a strong company imo and will only drill where they are welcome. Same with Bentley. By the time we get around to that we'll be in an even stronger position.
So we are extending and adding annexes on to our major assets and have real estate awaiting development. Guests have been patchy but bookings are picking up. We have just had 2 families book long term stays and are about to launch our winter tariffs tomorrow. We are not complacent but a company with vision and solutions to the 21st Century post Covid lifestyle.
*Voted best medium sized oil production company in the 2022 Oil Oscars NS Category
and winner of Best Director.
Hi Juan, as practically everything is in short supply at present I'm thinking that financial advice is sparse too. Many, including professionals, will have looked at the deal and its complications and turned away without investigating. Added to that it is an industry that many have deserted and some won't ever come back. So on that basis this deal is not widely known about.
Interesting that a hedge funds and a value fund have recently invested. These are the harbingers and their research will have been top notch. As I said in another in another post the bond market knows a lot about us too as the HYN would have been unloaded by many and reached 30 cents. The same analysis is required whether it's bonds or shares. We are better known than many suspect and the recent events will definitely not have gone unnoticed. Indeed, we are only told about those exceeding 3 percent.
Tomorrow is going to be interesting.
HMH - agreed. Now we need it to filter through to the wider market. I actually wonder if analysts have the clout or relevance of old. Promoting an oil company could mean your kids being ostracised at school and less funds are interested. It's easier for many to avoid the sector altogether. Problem is it is still a money spinner and an essential commodity. Those leaving have created a vacuum and those attracted by FCF are filling it. We'll have a different major shareholder list before long. Such strong flows and pressures on all participants that the future is impossible to predict. I'll stick with cash flows.
"Oil" has become a dirty word. "Profit" is still acceptable.
Just been looking back at your posts with reference to some of your recent fcf statements/targets. They look spot on to me.
With GE now completed we have "morphed" into a Cash Cow . Money is pouring into Enquest's bank account every day now !
I hope we here some further news on "hedging" in the November operational update. We must hedge high levels of production for the future. As for dividends - They must be on the way !
All the best
Highly doubt it. Earnings happened within the previous shelter held by Suncor. They're the party liable for the taxes up until the transaction closes.
The effective date is just an agreement that protects both parties should the transaction encounter issues and not happen for an extended period. Would otherwise suck if we agreed to buy GE and regulatory entities held it up for 2 years.
I don't think I put a date on when you actually get the tax back.
However I understand that It is taken off the price paid for GE on completion (now). That's all the tax benifit on the revenue since January. As HMHN says it should knock the price down by around $100m.
All the best