The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Hi R - yes, to your point focusing on short %s is not on their radar, and that is the way it should be in the grand scheme of things. They need to focus on finding ways to expand their production profile and get the debt down a bit, and get that dividend sorted soon. ;-) That's all we want really and our substantial carry-forward losses do help in retaining UK generated cash flow firmly in our pockets - I do hope they have another non-dilutory acquisition in the wings and I'm keeping my fingers crossed here.
I've been very sanguine about the oil price outlook for this year and next. Some on here can't seem to see the forest for the woods with their hedge now mantra. My goodness me, I've read impatient shiite on here and elsewhere about Oil being unable to stay up this high for weeks now and that's been proven time and again to be wrong. When you're stuck in it, best stop digging. Read the tea leaves correctly and you'll see multiple bullish forces on the horizon. I've said it many times oil headed much higher in the coming months. THere will be swings no doubt, but the trendline is clear and it's up.
If I was the hedger at Enquest, I'd wait till Brent gets into the 80s and buy cheap put options for Mid to low 70s for the remainder of this year and next to protect the downside and ride the upside. Dividends in 2022 is a likely scenario then.
Bon Chance..
https://oilprice.com/Latest-Energy-News/World-News/Exxon-Sells-UK-North-Sea-Oil-Gas-Assets-For-Over-1-Billion.html
Plus contingent, so $1.3b for 38k. . We are paying $375m for 10k. .. which on comparison seems fine.
Hi E and the good news keeps coming. I wasn't going to post this because it was a reply from IR I got today and it said nothing; or did it?
I was interested in the level of stock-on-loan and thought that if anybody knows it then it should be EnQuest. Here it is -
"Yes – oil price looking good and we have a high-value proposed acquisition etc. And there is hope on the lifting of lockdown restrictions! All going in the right direction. Hope you are well.
From data we received recently (c10 days or so ago), looks like IHS Markit shorts were at a similar level as you quote below."
The first sentence says nothing new but the second sentence does. I'd imagine quite a few of us have worked at one time or another for a publicly quoted company. Most people just get on with their job and the share price performance rarely comes up or is even followed. Except, when the company is in the news and that is more likely to be because of problems. On reflection I quite like it that they're getting on with the day job and leaving the tracking and theorising to obsessionals like me. They have more pragmatic things to do than follow the ebb and flow of the share price or worry about shareholdings that are just as likely to be misunderstood as helpful. That is good news too.
Be Lucky
Anyone seen Ammu and his 2 followers (Neil & mrc mrc mrc mrc mrc mrc mrc)
???????????????? LOL
Romaron, this is worth listen also from 0,01 Jim. C
https://youtu.be/q-hs4rvl3Ss
typo .... Jeff Currie of Goldman's
We haven't been able to say that for a few years!
https://www.youtube.com/watch?v=WdjTi-uhoqI
Listen 5.00 - 6.00 Jim Buckee was our Chairman a few years back.
Explore out of equity- tick, which means there shouldn't be any surprise calls on equity again.
Develop out of debt - after a harrowing 3 years we are nearly there. At 93.50 we are sub 10 percent.
Today HYN closed at 85.558 It was 67.341 at end of the year.
the RB is 83.525 end of the year it was 66.25 (there has been an interest payment/PIK on the RB which is worth almost 3 pips so they are marching in lock-step). I should know the interest payment dates for the HYN but I don't and am too lazy to look them up.
The point of this post is that we are getting stronger and the lenders are being awfully nice to us (I'd imagine). Having said that Jim Currie of Goldman's did say that borrowing for capex is getting increasingly difficult. Lucky then that we won't be in that position if this keeps on. It is usually reflected in the interest rate and we are seeing signs of inflation. However, that is compensated by higher oil. I'm ignoring the fact that the RB is in sterling and the HYN is in dollars because it makes my head hurt trying to work out the impact.
The company is well placed and I'd say the AB plan is coming together. He is a seriously wealthy man anyway so I doubt he's as excited as we are with recent hike as the sentiment changes and forecasts of a supply shortage become more likely but he's still in the game. That's because he is a good man and a philanthropist. If EnQuest succeeds then so does the Amjad & Suha Bseisu Foundation. I don't want him leaving the company for a good few years yet!
There isn't really another stock quite like it in the UK.