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E- that’s exactly what AB needs to convince the markets.
72,5k at 63 oil
BP 145 mill
Opex 522
Capex 144
Finance 180
FCF 575
Dont you mean more Trolls than trades lol
Oh well, at least we ain't in the red...…. Oh hang on ! lol
Come on AB get this show on the road.
More chats v trades ,
P - the reality is we would need a higher price. The market isn't still fully convinced that debt can be easily tackled with Brent at these levels. I get circa $475mm 'FCF' with your forecast figures, but what's $100mm between friends, eh?
Decent RNS , Carlsberg definitely wrote it but only with half a pint , next one will be even better and must ensure 2 pints are available.
How many barrels a day is kracken doing?
https://www.youtube.com/watch?v=VY58inWev0E
Liked the SVT report. I think the decision was expected in Jan 2020 so ahead of schedule.
The Bonds weren't addressed but that isn't surprising; we are in at par and the current price suggests now isn't a time to renegotiate.
All in all an excellent update and the company has advanced whilst repaying the debt. Eventually the eighth wonder of the world will come into play; compound interest.
Build it and they will come.
E, I don’t agree you need higher oil price.
2020
With 72,5k and 63 oil I see 575 mill FCF
A solid report and it won't really wow the market, IMO. Debt reduction is steady and trending towards what I said it would a couple of weeks ago - on par or maybe a bit better than H1. I'd called between $1450 and $1500 mill at the end of the year and that's where we should land with better cash inflows in the next couple of months from Kraken sales from the past few loads. They're paying down RCF like I hoped they would and I'd wager it would get below the $500 mill balance by the end of the year, giving Enquest the flexibility to look at distributions should Brent move up 10 bucks from these levels. The reality is that any 'rerate' will only come about through higher/faster debt reduction and for that Brent needs to be higher (high 60s/low 70s) than these levels. The other good news is that net debt reduction in the last 4 months was actually driven by gross debt reduction and was't purely a cash flow timing metric. And that's in spite of a shi**y Brent price in these past few months.
Hopefully, Enquest bounces today, but in the medium/longer term, we're inextricably tied to Brent.
GLA...
Solid, on track update. IMO More hard yards needed before value shows in sp. 2020 could be our year. Maybe small uptick today.
I think Enquest will respond to the brokers and say the train is leaving now , your either on it or not , but sorry for the delay ,
I bet these same brokers will twist it into a negative somehow I’m sure.
I think all brokers will understand the RNS, Didn’t see individual production data for October ? , otherwise moving in right direction , 21p today ? Confirmation the debt mountain is being turned into a hill quite quickly , sure some analysts will pat the board on the back when they see them later on today , credit where it’s due .
Certainly didn’t wow me but at least it wasn’t a bad one. Production going forward into 2020 must be mid 70’s.
Next year is the big one !
m cap should rise by the debt redn amount imv and that means up to 10p on sp , in reality we will be lucky to get half that. lets see.
Nice one Pelle,
Not that impressed with the production number, nor the hedges - but I guess that leaves room for improvement.
Overall good. November-June should be very good.
Best, HMH
Thanks, prod and debt I was close to my estimate.
Hedge, I don’t see they did more
Well that's not too shabby, more positive vibes than expected, any shhito AIM share would double bag by 8.30am.
AB, push the release button!
Let’s hope our Update is better than the one we had before the AGM.
We desperately need positive vibes coming from Brokers following today’s CMD
All,
Late but I just came across this:
https://www.valuethemarkets.com/2019/11/19/eco-atlantic-what-does-the-discovery-of-heavy-crude-oil-at-orinduik-really-mean-eco/
What about being heavy Oil experts as well as late life experts?
Be busy here tomorrow I reckon.
CMDGLAXXXX