Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Kraken my friend am much more bullish, 28-32 is my first target and I have these puppies since 12.85 on this leg, as traded Enquest many times , plus the given 19p ones. The support level indicated on the chart I know you saw ,was correct and the upper extension is juicy as you can see .
I see no reason for Enquest not getting there
US UK air travel yesterday was given a major boost and read that bookings went through the roof , air travel is booming once again . If COvid gets really under control and becomes a seasonal influenza then there is a massive pent up demand for many activities and certain boom in energy consumption of which oil plays a huge part. The third vaccine in Israel has proved to be super effective. So am optimistic.
Given that I trade too and am not just long only, the support level indicated is already just over 10% up and again will sell those ( as they are spreads) if we get retraces only to buy back, but the direction is up in my view in a zig zag fashion as always , me I'd buy the dips .
Remember there will be people buying in the 30s as this could target 48p too in 2022
We know.. but this time it's different.. we aren't chasing large FPSO projects .. that aren't going to plan.. and carrying old assets that aren't that good.. Best we avoid the high miles, but one careful lady doctor owner type of purchases as well.
Simple formula.. works best. . GE: more evidence required.. Law and Order special investigations team are taking more witness statements today and probably for the rest of the month..
Kraken
The point is that Enquest's SP is so low now that it has to get better by default - even small reductions in debt should do that - at least that's the theory with Brent around the level it is now - but progress is painfully slow and always liable mishap.
krackenoil, what does your doctor say about your non stop mood swings, stop blaming Enquest for your investment strategy , gla monkey
Hitman we have been saying the same thing for years. Its always the next one, then the one after, then the one after that.
Enquest cannot miss this opportunity to drop the debt this year and next year must be flawless as well . We must get the debt below $500 come Q4 2022.
Let's not forget about the deferred tax.. the domino effect of GE on other aspects of the balance sheet including deleveraging next year.. I agree the next 2 sets of half yearly accounts will look rosier..
We are probably going to bob about around 22p - 23p for the rest of the year now until Enquest show some sort of positivity and a good end of year Update. Another poor one will finish me off and I will give up.
The question is ..
Has the GE acquisition repaired the damage done to Enquest as a result of the latest declines in production?
I would say yes, but sentiment was shaken as a result of the last update - its a great pity that completion of GE wasn't included in the update.
So, will the SP increase when GE completes? - Yes - but the full benefit won't be seen until the next trading update when the next set of production numbers are published - I guess we will be lucky to see 26p as a result of the GE RNS.
get the "baby blue shorts" out again, however I do disagree with some on here !
I take the view that the market does not like uncertainty and therefore has not fully priced in the GE deal completion. Indeed some analysts even left it out of their calculations when doing their numbers !
Thus, I do see a "pop" to the upside when we get the RNS comfirming that this deal has been completed. I am expecting it to psh us up to New yearly highs ! Certainly to 27.5p level then maybe even as high as 30p. Dependent on POO of course, I'm assuming POO at these current levels when making my calculations.
All the best
JAN