Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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It does look cheap, I wonder what our work commitments on the licence are. I believe the previous holder were looking at a cost of 750 million to first production in 2023.
My view is ENQ is all about short term cash flows. If we were marked down bc the market knew of Bentley we will bounce back big time bc we are forking out peanuts in terms of cash.We shall see.
We're buying Bentley. That didn't do ENQ any favours, but our management seem to know their apples. Anyone care to comment on the terms of the acquisition? Is this the real reason for the drop in SP?
Hi!
Stupmy,
I feel confused everytime I look at the translate of my writing.
Yes, its the details and in my way too see it (the economic date) is the production and costs ours from that date.
I count from 8 630 cause the 4 drill programme is not completed and a count of for drilling and opex of 53m.
Income: 8630 * 65 (OP) * 365 = c. 205m
Total FCF: 205m - 53m = 152m
But i must say that is other who think that the days before the overtake will be with tax.
Its not what i think but it can be true and its competent people who think so.
Regards/Kamrat
Thankyou Tarmak.
When you say 'contents' do you mean details? The details of the GE acquisition will be presented on the 12/5 or is this something that will be discussed and decided upon at that meeting. I'm guessing the 2nd scenario as you state a decision will be taken at least 2 weeks after the AGM.
I must admit that I had thought that the 10,000 barrels a day was contributing immediately (from which I believed it was from the announcement in the results RNS; that's clearly incorrect if decisions still need to be made about how to fund this acquisition). I have to say I'm starting to feel confused.
Hi!
Stupmy,
You have to allow my English and I´ll try to do my best.
The contents of GE will presents on AGM 12/5.
The decision of the GE business will be on the following voting meet who will be at least two weeks after.
I see it like formalia.
---------------------------
Chilt´s
Be proud of that you stand up what you think is the best.
My earlier thought of that Total would suits you was their plan about fuel cells.
(I have some myself)
That I´m not agree with you is that the numbers not lying so my advice to you is to take a small bit and see what happenings in a quarter from now.
Good luck.
Regards/Kamrat
Maybe, I am being over cynical but having come off badly a few times during refinancing, I tend to fear the worst, especially when Banks are involved - shareholders tend to get shafted.
Chilting- Enquest doesn’t need oil prices at $70 to complete the refinancing deal, AB could also put up the £50m required at the same SP as it completes. He doesn’t need to offer a discount to shareholders.
Then what ? How would the market deal with that ?
Chilts man?!? Is that really fair to say??
” Enquest needs Brent at $70 + for a sustainable period for AB to do his deals with the Banks.”
I mean on what numbers are you making the calcs?? Do you really need FCF at +50% of net debt to make a deal??
I had respect for you in the past as a balanced man but you are off my trust-buddy-list. Sorry! Get out of my face! You are really pulling this swedish-viking-leg of mine and I do not like it!!!
Kraken
My concern would be that with the future financing and the rights issue pending that the SP needs to be at a higher level than it is now to help combat the effects of any possible dilution - basically Enquest needs Brent at $70 + for a sustainable period for AB to do his deals with the Banks.
Our SP could change direction fast like it did in Feb, went from 13p to 24p in just over 2 weeks. Nothing to say it wont bounce even faster if we have positive news
Chilt - When you say it needs to be quite quickly for Enquest whay do you mean ? Oil prices are high enough for Enquest to make serious FCF at current prices, Its only the SP that's lagging.
gkb
Well chosen retail purchased in the summer has done very well, also purchased WTB recently - should benefit from staycations and has a big pile of cash.
Best is still tech stocks - spot a good prospect and you can retire in a few years - ITX.
Also OCDO - best UK tech prospect - in a dip at the moment has a long way to run.
Oil's day will come but it needs to quite quickly for Enquest.
UKOG have a prospect in our Parish - Broadford Bridge - on an unimproved B road - no chance of full planning without a huge spend on upgrading local roads.
Bloody media and WHO spreading fear everytime there is a new variant. We were told that when virus mutates, it becomes weaker and body can fight easily without vaccines/therapeutics. New variants will develop but this virus should be treated just like flu. How long govts want to lockdown and close the borders? We are being too nice and listening to govt advice but everyone should start protesting against govt like in other countries.
Bloody how many are dying? The numbers are same or less than other diseases.
Professor Chris Whitty said that closing the borders cannot contain the virus spread. If you completely close the borders like US is planning then you could prevent new variants entering but when you open the borders then variants can spread again and you cannot close the borders forever.
The entire aviation industry will die and countries relying on tourism will go bankrupt. Bloody govts won't realize until their currencies become useless like Zimbabwe.
Trump was the best. He would have opened up the borders.
gkb
The point with Covid is that you have to try and see past it as an investor, otherwise your portfolio will only contain companies that benefit from Covid.
Therefore, it was valid to identify and invest in Covid recovery stocks as early as last summer - even CCL has recovered threefold.
The risky investments that should be avoided until recovery is well advanced are commodity stocks and that includes oil - unfortunately they are always last to recover, simply because of oversupply issues.
PS - love your post on UKOG.
Well there's something I've not understood about posting links, but my question is the same. Has the funding and placing regarding the GE acquisition been resolved, or is it weighing on the SP here. Over on the other board, two posters Bomfin and Chutes have suggested that resolution of this is not complete.
Not sure why that link wasn't allowed.
here it is without the https
www.enquest.com/media/press-releases/article/enquest-signs-agreement-to-acquire-equity-interest-in-the-golden-eagle-development
I've come across from ADVFN Enq board. That bb seems largely dead but there's more life here. Could someone tell me if the following funding and placing (for the GE acquisition) has been resolved or whether it's weighing on the price?
https://www.enquest.com/media/press-releases/article/enquest-signs-agreement-to-acquire-equity-interest-in-the-golden-eagle-development
Ha, yes a mere £100k loss would be worth celebrating, but AB can buy the drinks !
Lets have a 100k loss Party !