Enquest Share Price (ENQ)

Indeed it is. Been out scattering litter on the verges. Now for a nap..??

https://www.investing.com/news/commodities-news/bids-for-exxon-uks-oil-and-gas-fields-due-on-oct-28-sources-2301733

HitecVision, EnQuest, Exxon and Chrysaor all declined comment. Seems unlikely but vendor loans have a way of untying the most complicated Gordian knots.

*spotted by K, an investor who sensibly doesn't post here

Hi Londoner7,
As a follow up on my earlier post, I do find it surprising that 2P are being valued at $15/bbl, which is also the often talked about cost of developing and putting into production 2C into 2P, unless for a coincidence. I am in no way questioning your calculations. In fact, I am grateful for you having posted them. I am just baffled by the kind of figures Mr. Market can throw at us.

Producing 2P reserves should be valued at the present value of (Poo - Cost) /bbl given the profile of production. If that is $15/bbl at the moment, so be it. But it tells us that Mr. Market is expecting the poo to stay low, because as we know for ENQ
Opex + Others costs (including servicing debt)/ bbl might be leaving on the table $15/bbl at the moment, but w/ higher prices would leave more (so perhaps the % increase of the poo expected in future years just equals the % used in the discounting of future streams). Until the valuation of 2P producing reserves goes up it is hard to see Mr. Market changing its view about Enq.
Your comparative valuation of ENQ, PMO and CNE has prompted me to look at a couple oil companies more closely, namely CNE, and i will post about it there at some point soon, when I find the time to review my brief notes. But one thing that I would add here, and in light of your comment that CNE is a cash shell is that ENQ might want to find a mutually beneficial deal with CNE that lowers its net debt.

All,
Where is E121 when you need him? Rigs down by 1. Shell slowing Permian drilling. Frac crews at 89. Impressive wave of weather events in the Gulf of M.
All this is good news to the drawdown of crude stocks, but OECD stocks still need to come down by 200MM bbls and we have no idea of the aggregate stocks of non-OECD countries. The latter could have a huge impact on the term structure of the poo.

Jet fuel is now being blended w/ other stuff for shipping fuel. Not good news for that Kraken premium.

Finally, gkb47 takes the prize for long term forecasting of Kraken's offload #85, and do not believe anything Pelle writes as he claims his account has been hijacked.
GLA

And that's just in Spindok's house !

Your comment is valid but which country are you talking about sounds like a description of most of the world at the moment.