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Have anyone noticed that the rns has disappeared?
Pretty mediocre, unfortunately
Like I said previously, this has not even replaced the production decline. Current production is ca. 4.6 kboepd
And with such a low initial flow rate, this well will not pay back the cost of drilling
ENW is no more a growth stock like it was in 2016-2018. But it can be a good value stock if it starts paying dividends
452 boed added to production
Sounds good Oldholder. Share price was 60p in early 2020 so what are we missing now? We even have more cash since then plus Arkona under the belt. In today’s world cash and assets mean nothing, it’s all about baseless speculation or Bitcoin
Currently prices 60 and 58 respectively.Up 43% and 45% respectively than 1H 2020 (42 and 40).
Even higher than 1H 2019 (54and 52).
Ask price is 26.4p, couple of pennies away from 52w high
As I said, expect well news in early March and divi announcement in April
The well is apparently still being tested, as we speak
For divi, they need results of 1Q at least, I reckon. Plus, gas prices forecast post this super harsh winter
The divi is anyway approved by the GSM, which is when, in June?
Krok, what do you think about the dividend? Still no results of the well either.
This is plain wrong. Novinsky doesnt care about the share price. Why should he?
Whether it’s 25p or 50p, there is no difference for him
Still the sentence that states 'we have no current intention to distribute' means there will be no dividend in the short term. When will their intention change with so much cash? When was the last investor presentation etc? Promoting the company would benefit all shareholders including Novinsky.
Too many short-term catalysts not to try and make money on. Limited downside in the current price environment
Someone is accumulating, been seeing this for days now. Seems like a leak for Novinsky's Pal's.
Notable
Krok you been found out , now please do not comment as you are not a true to your word.
Just ignore this clown. He's just proven he hasn't a clue what he's talking about and one glance over his posting history will confirm this.
That’s exactly what I said - ENW’s update was a disappointment, JKX’s - a disaster
ENW production dropped by 7% in a year, JKX’s - by 8% in 4Q
If JKX’s production drops another 8% in 1Q21, they would need gas prices to be 55% higher than in 2Q19 simply to have the same revenue
Re three times larger profit, you should definitely check your math
Krok you bounce from one oil stock to another , as for JKX they are making 3 times the profit then that of ENW
Reminder written by you on ENW
Production is down by 332 boepd
Their latest well gave them 565 boepd
Without this well, the decline would have been 897 boepd. That’s almost 20% decline from natural depletion! Extremely high for gas wells!
People on twitter saying production will undoubtedly go higher are idiots
ENW needs two wells per year just to maintain production. That’s $20-25 mn in capex - more than the company earns
Krok, It is always good to see a ardent critic such as yourself switch sides and have a positive outlook. So hopefully you have made the right decision and we see the price move on upwards now. Price is looking very stable at these levels fingers crossed, so we hopefully re-rate. The well results are due any day and I am just wondering if the results have been leaked which is why were getting some steady buys come through.
Those interested/invested in JKX, please see my latest post in JKX thread
Sid, please repost it on twitter, will you?
But that’s ok if they start paying dividends
If they don’t pay a divi now, when they have a $70mn cash pile, gas prices likely to stay reasonably high in 2021 and drilling ambitions being pretty moderate, then we can forget about it
On the existing fields, what the have drilled in the last couple of years just replenished the depletion, the production is flat as a result. It will likely continue this way in the observable future
Re Arkona, it will take time, effort and money to put on production. I do not think there will be any meaningful production from Arkona in the next two years. Reserves - definitely, production - unlikely
And risks are substantial. Every well is $10-12 mn You miss the target and a significant part of your annual cash flow evaporates immediately
Even if you are successful, it remains to be seen whether a well pays pack. Too deep, too expensive, takes almost a year to complete
I think this explains why ENW is so conservative with new drilling
Surely there will be production growth in the future with new wells expected with the Arkona purchase?
gotabesirius, there is no material growth in production in the next 2-3 years. Growth in cashflow will depend on gas prices. Currently, we are very lucky but that can obviously change pretty quickly
In the absence of production growth, Dividend is a game changer
Whether there is a divi or not - we will soon find out. But who would waste time eliminating the share premium “just in case”
Who is Sid, who reposted this topic on twitter? He usually posts a lot of drivel on ENW and JKX but doesnt have a clue whatsoever. Mate, you should try much better
Sid, JKX is in a big ****, mind you.
Read my first post in this topic. I mentioned it - it is still a big issue but not relevant in the next 2-3 months. And most people dont get it anyway