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Hi,disco,it amazes me too,he's still in MY cage with minerb,eurofil,itsaponzi,members and dontbshady. That's where he's staying and won't be let out . Gla hope there's more to come next week folks,monkey out.
Trolls - unfortunately though we still have one who has now apparently jumped on board as things have changed.......No they haven’t!. I find it somewhat annoying that some posters seem to forget that this individual was calling this to 13p, saying it was going bust, that AB was pumping the stock, that K had major problems, etc etc. He was laughing and insulting long term holders both here and over on the TLW board........so please folks can you ignore this troll, just because it’s turned doesn’t mean it’s now not a troll.
DD
Riskingit,
I also have a Capita diving bell I would lend out but think it will in action for the foreseeable.
Win some, lose some.
Glaxxx
oh wait......
Just realised I need to buy another one for my other problem child.....
Petrofac
Hope I can find one with a long warranty
Cairn will be ramping the eventual success of Kraken to all and sundry at their operations update on Tuesday 21 Jan. We know how they like to provide extra detail to analysts , and we know some prefer to ask them questions that Enquest prefer not to answer. Looking out for update on drilling Western Flank as well as Kraken premium. Once the analysts have done the sums, this will gap up into the 30p + range.
There is a gap close at 23.36p from the 9th Jan. It gapped up on open on the 10th Jan with a low of 24p. Gaps do not always get filled and this gapped up with huge volume on that day.
Likewise there are gaps all the way up... however it will retrace at some point which is healthy for the next move up.
I've noticed a sh*t load of these suits on Ebay over the last few days........
Have I missed something?
No gap at 23,24p to fill, there is one above 55p
60p not In a straight line I hasten to add.
This could gap fill 23/24p likewise it could gap fill 40/42p or hit 36/37p and come back.
Regardless it is overheated on all technicals and needs some consolidation. However it is also tremendously undervalued.
Trade buy sell I’m holding and increasing positions in any pull back.
GLA
Another great week. Feels like this has been going on a long time but in actual fact is just on 3 weeks. Keep it coming!
wisdom, you ask, 'Wonder how much AB has made on his purchases at 16 - 18p?'
That's easy, 72%.
But you made me wonder about his earlier purchases and the impact of capital restructures.
In 31/5/11 he purchased 922K shares @ 131.95p for circa £1.2m. Based on a quick look that seems to have been the highest price he paid but he made other substantial purchases in 2011 at around 100p per share.
But there are other detrimental considerations - Rights and placings - which have diluted those holdings. There were placings in Oct 16 and the recent Rights Issue in Sept 18.
One way of assessing the dilution is to consider the number of shares in issue in May 2011 (802M) and the number in issue today (1,695M), representing a dilution of >100%. The relative market caps are May 2011 (£1,058M) and today (£496M).
I don't think AB will be cracking open the champagne just yet!
Over the years there has been many trading opportunities in Enquest but IMO it has never been a good investment. As an investor rather than a trader I need to consider if it's different this time. Early in 2019 I felt it was and as my knowledge and confidence grew during the year so did my investment.
Early 2019 I saw a company under the cosh from many quarters, Cairn, Barclays and RBS to name a few - those broker summaries can still be viewed on Investors Chronicle, which basically pointed to Enquest falling the wrong side of hitting the RCF repayment schedule based on anticipated Cap Ex and Oil prices. In the event, oil prices were slightly higher, Cap Ex appears to be lower (to be confirmed next month) and the RCF payments were made ahead of schedule. It appears that the brokers recognise that outcome and the recent CMD suggests a plan for fast payback and good returns on organic investments over the next few years with upgrades to price targets - that said, I'm more interested in the detail of their assessments than (IMO) a meaningless price target - does 40p make ENQ a sell?
To date Enquest management hasn't been up to the task of developing assets, A/G being one example and let's be frank Kraken may be throwing off cash now but a decent return on the original investment is questionable. I think the Magnus transaction has marked the turning point and in spite of the odd operations challenge may be the feather in management's cap – in particular the repayment structure. Risks abound with aging infrastructure but I see a greater risk with an overpriced NS acquisition. Magnus was timely, and credit to AB, brave, but the recent PMO acquisition isn't as attractive and probably represents the higher price now being asked for the oil majors North Sea cast-offs. I think the upcoming licence awards may represent a better path to growth.
Today I see a better investment case for Enquest at 30p than I did at 20p last May. I'm sticking but expecting a roller coaster (and an occasional scream).
This morning I noted the penny traders coming 4 weeks late to the party -
40p by end of Jan, 50p+ on ops update early Feb is my guess providing poo behaves.
Yes. I sold my own deep sea diving suit a couple of days ago. Local plumber took it as was going off to Thistle to do his "first hot tap" (someone else must have spotted that?).
It was always going to be a ride. Scream if you wanna go faster.
GLAXXX
I think 40p is too low I expect 60p this year.
The PE ratio is still significantly undervalued.
Great week!
Dips only last few hours and up again.
Enjoying hotel weekend now
Thanks everyone
We are round the 30p mark now! Fabulous... January is quite often great for ENQ - except last year.
Market Cap now $500M - much better than the $300M at end Dec!
Enjoying this little ride of ours. Wonder how much AB has made on his purchases at 16 - 18p?
I think we will see more than 40p by year end 2020. Should have debt down to around 1billion and I see valuation around the same level 1b which equates to a 60p Share price.
As for now, i am expecting the share price to stabilize very soon , around the 30p level awaiting further good news When it comes we should continue our march to 40p and beyond.
I expect 40p by year end and the short term resistance is somewhere in the early 30s