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Wow I was totally right with the looney alert..
@january
If you actually read OUs then you know that there are several of them coming out per year not only in May.
So your logic is that OUs in May do not contain net debt. But all other OUs do or is also based on the moon cycle?
And do not forget the exception of 2020.
Does not sounds like a tradition to me.
I am sure the highly competent Enquest team can explain the logic when to expect net debt in an OU.
As somebody said the OU is carefully crafted, and if they omit net debt it is for a reason.
Or maybe you do not think that Enquest IR is capable of writing and carefully crafted OU.
Hi Whiteace,
Hope you and the family are well.
Average production above 50k bpd. Which is good.
Some were posting/saying 45/46/48 at the start of the year. So far they have been proved wrong !
Yes Banana,
I do read OU 's clearly. Maybe you should do so, and try to understand them.
The OU this year in May (today) did not mention net debt. The OU last May 2021 also did not mention net debt. Why = ?
Because it is an " Operational Update" and NOT debt analysis or results RNS. The exception was in 2020 and I suspect it was mentioned because the company wanted to show the market that it was "surviving" in those panic months of early covid !
This period in 2020 was exceptional times.
So why do you get so frustrated ? Do you not believe that Enquest is paying down debt with 100+ oil ? Do the maths Banana and work it out for yourself ! All the figures/numbers are there, you just need to work it out ! OR wait until September when you WILL get your net debt figure calculated for you.
Maybe you should attend the AGM and ask some questions yourself rather than crying on our shoulders here ! See you there Banana.
Who is the is bananajoe donkey brain spamming up the blog with useless drivel . Thought those days had gone .
"Was hoping that ENQ wold break with tradition and give some debt info, but hey ho we will have to wait until September."
What tradition January? That of not being consequent and incompetent?
Do you actually read the OUs, most do mentions net debt.
Companies that only sometimes mention things usually have something to hide, when they do not avoid mentioning things. Or maybe the highly competent Enquest decided that such information is not necessary in an OU. And you are fine with it since it means there will be a deal announced soon.
Much respect for AB post Alma Galia.
I don’t think Enquest would exist now if it weren’t for his leadership and personal stake in our survival.
Good to see cost forecasts have not gone up. Bressay FDP looks like a 2023 story. Acquisitions unlikely I think until debt is dealt with. Perhaps some more details on the SVT plans later this year…interesting that it is described as global scale.
Agreed. Another four months of deleveraging at these prices should work wonders on the share price. IMO time to lock away the shares and enjoy the summer.
Good to have production confirmed above 50k bpd for the year todate. Was hoping that ENQ wold break with tradition and give some debt info, but hey ho we will have to wait until September.
Enquest have historically just only talked "production" on their production updates, which is fair enough. Financials are saved for full year and half year results.
I have published my numbers before and based on the production update, hedges and POO . I still have FCF for Enquest currently at between 60m - 70m per month . Expecting debt to be down to just under 400m at year end, easily hitting the 0.5 target.
I give the OU 10 out of 10. You really get exited after reading it and truly understand how Enquest have been transformed into a money making machine.
I am going to be really surprised if we do not reach 60p before noon.
7 .5 out of 10 for the update. I'm happy with that.
Will leave the snallish production number discrepancy with the experts.
Very strong update production wise.
I would have liked to have seen higher hedges but hopefully the remaining g half will be hedged in the 90’s at least.
What do we think the year end net profit will be? Circa 250 million with the expenditure they have detailed?
Windfall tax surely with all the tax losses and the fact that their have been major minus figures we will be exempt in its current status?
SIPP wrote "Take off is approaching."
Bloody hope so. I'm running out of runway.
Today’s RNS gives figures towards the top end of expectations and reflects two years lack of capex expenditure. This is industry wide and even without Putin would have resulted in higher oil prices.
This is all being addressed presently-it already has in Malaysia- and wells at both Magnusand Kracken are being drilled presently which I guess if successful will in aggregate push production to over 60 thousand boepd. There is a lot else going on with Enquest presently Q2 and Q3 will be key. Take off is approaching.