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Likewise can’t believe we are being manipulated. Oil isn’t the only commodity on a bull run, look at Copper for example, so suspect a lot of capital is being channelled into the wider Commodity Market, with ENQ just off the radar. Anyway every chance the Prospectus will be with us before end of June , as AB did say it would be circulated as soon as practicable after the new secured debt facility had been agreed, so let’s get this deal out the way and if GS forecast is on the money, then by the Half Yr results we should be as well !
Does anybody know what rip-stop nylon, a tough and tear proof synthetic fabric is made from. Is it renewable bamboo?
Asking for a friend.
I don't think EnQuest is being held down. I think it more a case of nobody buying. Tullow has fared far worse than EnQuest but it depends what period you judge by (TLW was over £11.25 when ENQ was 83p April 2010) but the main thing imo is that TLW is a pretty conventional play with a decent spread of shareholders whilst the CEO is definitely Mr Conventionality and a clone for 'C' suite and blandness.
That is not the case with Harbour or EnQuest. Without looking it up EIG hold over a third and will probably reduce once their lock-up period is over. ENQ has 15% tied up wityh AB and friends whilst I don't see Baillie Gifford or Aberforth rebelling after 10 years, especially when it is all falling into place. I'd say that there is even less free float with ENQ than TLW.
There is nothing wrong with being a private company (or as good as) at present and I don't mind whether I share with private shareholders or public shareholders. The usual suspects like funds will probably not return but eventually the RFCF will attract the moe adventurous investors and they will probably be US based. That's my view anyway.
Greenpeace protestor parchuted (crashed) into the stadium holding Germany v France in the Euros. He was attached to something with a propeller. I hope it was battery or elastic band driven. What a twat. He'll have done wonders for the campaign.
I expect GKB has got it very wrong (again)
I can respect Chilting (though not aligned on longer term view) - he has got Enquest wrong in the past, picked himself up, moved on, and now able to come back and treat this as a new investment / trading opportunity.
GKB seems to be stuck in the past due to his poor decisions, and now totally paralysed by fear (or should that be hope and expectation?) that history will repeat.
I expect his IG is not looking very healthy at this time!
Enq should be 30/40% north on the announcement of refinance and hedging alone ! So who's holding it down and why
Given Suncor placed a $50m contingent consideration into the deal if Brent averaged US$65 or over, between July ‘21 & June ‘23 , they obviously anticipated Brent would climb but probably not so fast, thus wouldn’t expect any back pedalling on the Deal. Just need AB to close this now ASAP, & let’s have some more cheap shares !
tlw mcap closing on a billion. Almost 3 times as much as enquest LMAO....
massive re-rate coming here.....
The Golden Eagle, Peregrine and Solitaire oil fields have "significant remaining development potential", with anticipated field life extending into the early 2030’s.
Four-well infill drilling programme ongoing, with two of the four wells onstream. The programme is scheduled to conclude prior to completion of the transaction, which is expected to take place no later than the end of the third quarter.
EnQuest has agreed to acquire 100% of the shares in North Sea (Golden Eagle) Resources, a new company which will, at completion of the deal, hold Suncor’s non-operated equity interest in the Golden Eagle area.
last top up tomorrow. Hopefully, can buy sub 22p......
Reckon this is smashing 25P this time around...Too much momentum with oil now and enquest GEAD deal looking amazing!!
Poor GKB's shorts are eating him from inside out!!! Whoever bet on a Brent $60 2021 average I wonder???
The deal is already signed and sealed
Clutching straws GKB?
Lol
Brent now at $74, GE deal is looking like a perfectly timed coup new well's churning out 30% more than estimated even if only for a few months and FCF $20 above deal assumptions, the $100m expected profit over 3 years is looking more like $400m
I can't rememebr who it was (it may have been you Therapist) but some time ago a poster here mentioned these wells. A deserved pat on the back to whoever it was, especially from those of us who can't do the detail. It is much appreciated that we have posters among us who can zero in on important detail.
12k bopd to enquest before the new well added in.
closer to 15k I guess....that should take our production to over 60k++....
Chilting buy back before the train leaves....this has 40's written all over this
Hi,
Using OGA data it is just over 12kboepd to Enquest for first three months of 21. Nice
GLAXXX
Agreed this is looking good bearing in mind with our 26.69 interest, the 10k bpd assumed Gross of circa 37,500. Will be interesting to see what these additional wells finally plateau production at.
Hi!
The most wonderful in this is the words of when the last well got on stream!
June!
OGA-data is only visible for the first three months and make new questions of what the production will be later.
So far is my numbers of it like this:
Production -21: 45 200
Production -20: 30 350
Differences: 14 850
If it was like following in numbers of wells was production:
/3: 4 950
/2: 7 425
I think this looks fantastic and later oga will tell if it was 2 or 3 of the new wells on stream in March.
At least one (the fourth) become onstream in june!
Regards/Kamrat
excellent news.
well done everyone
Thanks Zippy,
Looks very likely exceed 10k. Maybe even some months up to 15k.
I am updating my spreadsheet with oil price and GE deal.
60k and 6k to BP.
Enquest should clear 800m debt on 12 months.
End debt 18 months away 200m only.
What will they do with 800m excess because they want to maintain 1b debt.
Crazy this:-)
boom
attack on 22p today
. . and in the middle:
"The campaign began in August 2020 and the fourth well came on stream earlier this month."
"The four wells, which are located in the central area of the field, exceeded subsurface expectations and have added significant, immediate production, it said."
Significant and immediate isn't a number but it gets you thinking.
GLAXXX
HI Pelle, no mention of production numbers, just that the four wells are complete having started August 2020, drilled using the Noble Sam Hartley, no HSE incidents etc.
Then at the end;
The Golden Eagle area, located about 70 miles north-east of Aberdeen, produced first oil in October 2014.
London-listed EnQuest is buying Canadian firm Suncor’s 26.69% stake in the area.
EnQuest said the purchase would give it additional production of 10,000 barrels of oil equivalent per day and reserves of 18 million barrels.
What does it say?
boom