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Wall Street gave them a warning last year and they have totally ignored it. What the Fock are they trying to achieve by pushing Oil prices further and further down ?
Evening P - that's indeed fantastic for us. Let's see where Brent lands in the coming days after the Wuhan virus scare takes a back seat. And of course - I hate the F'ing shalers, even though I own a couple of names. Which part of 'Don't f**k yourself' don't they understand? Clueless ******s - they've F**ked up gas and they have their eyes set on oil now - frustrating.
About the best thing I can say is that the Stock prices have dropped in the past couple of weeks by a good 10 to 20% for most players, and that's on time for when they set their annual capex budgets. We'll see whether the F**k nuts use their little remaining common sense to decide enough is enough with this over-production and that they need to cut hard. For the sake of our portfolios... ;-). They start reporting next week.
Very nice E:-)
Thought the earlier numbers sounded too low.
E121,
Very well spotted. Of all the people to "drop an E" it was bloody Nquest. Cracking number indeed.
GLAXXX
We just need oil to play the game and move back to pre Soleimani assassination levels and we are in the hot seat.
I hope We took advantage and hedged well this time.
And that's inline with what you've picked up from the OGA numbers...That's all tallied up now.
@Therapist - I only just noted there's a subtle difference between Enquest's numbers in the November trading update (34 kboepd) vs Cairn's for the full year (35.6 KBOPD). Cairn only quoted oil production, whereas Enquest had the associated gas numbers too. In the Nov update's Kraken section, I know they state 34,286 BOPD, but that's a mistake - it should read 34,386 BOEPD. if you go to page of the update against Kraken, Enquest 70.5% share is 24,172 BOEPD (which is 34,286 BOEPD including CNE's share).
Kraken's gas share is circa 2% and so, Approx BOPD till October would've been 33.6 KBOPD, and by that measure, knowing that FY 19 production was 35.6 KBOPD, Kraken produced an average of 45.6 KBOPD in November and December. THat's indeed a cracking number.
GLA...
For PMO/CNE - Catcher averaged 70.2 kboepd (and 66,600 BOPD) in H1, and FY19 ops update had te early number at 67.2 kboepd (63,600 BOPD), indicating a drop to 60,600 BOPD in H2.
If we assume 58 kBOPD in 2020 for Catcher, say that's 11.6 KBOPD for CNE, and the rest 11.5 KBOPD from Kraken (at the high end of Guidance), that's extrapolating to 40KBOPD from Kraken in 2020, which is just FINE. Kraken is now making up for Catcher's reduction in 2020 - as some on here have stated.
HTH...
It’s a shame they couldn’t be more open and be more supportive of Kraken performance and make it clear what each field is expected to produce rather than adding both together
I have sent a email to cairn IR asking for further details on this as it’s misleading and makes no sense. Bet I don’t get a reply
Is why I don’t understand Cairn’s 2020 guidance. Are they saying Kraken won’t maintain current production rates are are they saying Catcher won’t hold current production rates ? Or have Cairn made a mistake again !
Enquestrians,
From Cairn update and reported Kraken FY19 35,600bopd gross, with no alteration to OGA figures, for Enquest this means with November and December being equal Kraken would be producing 45,639 bopd gross for those months which is 1,780 bopd gross better than highest month ever. If OGA is out in line with the Enquest November update (34,286 bopd gross Jan-Oct) then Kraken is producing at 42,170 bopd gross which would still be second best month ever. Either way the Kraken roared at year end.
We knew that but I thought a bit of reassurance was needed.
GLAXXX
At least Cairn are feeling the pain as well today. Lets hope we have bounced off support today.
We should be at pre rights prices 35p ish - At least
3 years actually ! Get your facts right
It doesn't move markets but it causes people to be scare. So don't do it.
You are selfish and have no patience and moan like a baby for over 1 year.
I was £42k better off on Monday than I am now, Does rattle you somewhat admittedly. Cant help blowing off steam on days like this. Worrying, frustrating and does cause panic your right. But whatever we post on here wont move markets.
I’m sure I understand how good this business is without relying on higher annual average production for 2020. Driving down debt and capex costs , saving interest and boosting net profitability and strengthening the balance sheet, GL
What are you going on about ? We haven't even recovered from the last Cairn tantrum yet so. We are badly undervalued and our fundamentals are solid, but yet the market slings more mud at us. Neil you were the one calling 13p or bankruptcy a few months ago so keep your gob shut.
Do you really think id be upset if I had sold ? I will be at our 60p party with the same stock I have now 1.3m
All I ask for is this volatility to stop.
The technical analysis is worth a look - its not all doom and gloom - we need to stay clear of the pivot point though.
http://uk.stoxline.com/q_uk.php?s=ENQ
Nothing has changed this is a healthy pull back in my opinion. A sell off due to the fall in POO has been exagerated by some selling and "stops" being triggered..
We are still reducing debt daily and making great fcf.
Our update in February and full year results in March should ensure our share price rise continues.
All the best
Jan
I hoped we had turned a corner and got rid of the ridiculous AIM swings, obviously not.
This is why we cannot attract II’s. We are still Red or Black.
Cairn took 20% of our mcap last time and we never really recovered!!
So let's say 20% from 30p gives us a resting place at 24p hopefully???
ABs portfolio dropping £2m a hour ouch !!
Exactly the same as last year. This is disgraceful
Colebrooke - Agreed. The reality is that we've broken out to new yearly highs (Kraken premium a big factor, IMO) and some consolidation isn't the worst outcome. As long as the pull back doesn't exceed 20%, we're good. Traders exit and real longs pile in, I'm hoping. We'll wait to see how this washes out - I'll look to add some on this down move, given the breakout reality.
GLA..