Member Info for AIMOilking

Having hoovered up a fair few LGen and ENQ in the last week, I turned once again to ENQ this morning, hoping to pick up a few more but an almost 10% spread put me off. I have noticed these large spreads in recent times and I can only assume the market makers are trying to stop day traders from making marginal profits on the daily fluctuations.

Poo was up last night and this morning and all we have is a wide spread to show for it.

Can anyone enlighten me?

Frac, your phrase "urban centric comfortably numb" summed up the situation well. It also sums up the current Starmer Cabinet, it a very PC way, others might not be so polite.

After all this time and despite my massive losses, I still think ENQ is a hidden gem in plain sight, added almost 20% this last week and brought down my average to get me closer to a breakeven on a rise in the sp. I suspect AB will want to get a deal done before the year end if there is one in the pipeline and given the news from OPEC, Libya and South Korea today, I think we will see POO closer to $80 for a while.

Can't help be a little worried, but question is what happens to ENQ and POO if the World descends further towards war(s)? Private Fraser comes to mind - We're doo......!

It annoys me that he even used an oil tanker as an analogy. However, does that mean that O&G is on his mind and perhaps a guilt conscience or realisation that O&G unleashed from EPL would provide Growth in investment, tax revenues overall and GDP/energy security.

Well, I think the EPL tanker will eventually turn as will the ENQ sp, so I bought a load more shares last week and today.

What we really need at the moment is a higher Brent price to stack up a few extra FCF's and maintain momentum on the reduction of debt. This in turn puts ENQ in a stronger position for decent deals with the liquidity and tax losses to make the most of them. If we ever became net cash positive, cash would translate into sp or be used for buybacks and dividends. I bought a tranche of shares today, although I wish I had bet on the Defence Industry, some shares have double bagged+ whilst paying decent dividend, lashings of profit and no Ukrainian windfall tax............!

I can imagine every other non oil producing head of state shaking their heads at Starmer, Johnson, Sunak, Reeves and Millipede as they turn the heating down a notch and wish they had an oil and gas field on their door steps. If Starmer and Reeves want growth turn the taps on and accept O&G is part of the transition to new technologies, materials and energy sources. It would be better if they threw all their borrowings for GB Inc. at NS O&G, accelerating getting O&G out of the ground with a target of decommissioning the NS much earlier. Surely a rapid development and exit from the NS has to be greener than a prolonged purgatory.

Oh dear, another Minister hits the dust and I am afraid that the individuals "clown" style dress sense did not sit will with me but perhaps I am a little old school about how Ministers should dress to represent the country.

Now who else has been lying, according to newspaper reports, our Chancellor has been telling fibs about her CV. I know for a fact that if I had lied about my CV, I would have been shown the door the same day, why does that not apply to one of the highest offices of State responsible for running the country's finances. Given the Budget and apparently unintended consequences or Boo-Boos, I believe the latter is the term used by less qualified economists, it appears that the case for Reeves resignation is plain for all to see. I have always said that Starmer had a year before he would be ousted and I believe he is still on track..............he should be fired for a lack of charisma alone, the clothing gifts did not really help - did they.

Waiting for news is frustrating as is the current sp, EPL and the Government to name a few irritants.

HOWEVER, ENQ needs the right deal - FULL STOP! In the meantime, ENQ continues to make progress and even without a deal, 2025/6 is looking far more positive with costs coming down, personally I would be happier with a higher Oil price whilst we wait, we will still be reducing debt with FCF and there will be room for further buybacks and dividends.

Personally, it appears that ENQ is in the best position to pick up assets in the NS, why rush when the asset purchase prices are undoubtedly falling and the other players may not have ENQ's tax advantages and are looking else where.

It is amazing how many organisations suffer from Matrix Blindness.

To be afflicted, all you have to do is make up a matrix that delivers what you want to see and after a while you forget, if you ever knew, the reality behind the input to the matrix. So the government wants to see progress to net zero and their matrix says they are on track and so they pump more and more resources into ensuring this success - simples!

However, they forget simple truths conveniently omitted from the matrix e.g. the net effect of making industry uncompetitive so they close helps net zero; powering Drax with imported and subsidised renewable wood and excluding the CO2 generated helps net zero, importing goods made with coal fired energy, yes, you have got it - CO2 excluded and so on but the real kicker is that most of the imported goods including subsidised wind turbines and batteries are making the UK poorer and uncompetitive as the government borrowing more puts up inflation and subsidies increase our energy bills.

What is really stupid is that oil and gas will be required for decades whilst new and viable technologies, materials and energy sources are developed, we will need two energy supply systems (renewables + gas/nuclear or imported) and being so poor and uncompetitive, those new developments will not happen in the UK. Meantime, we are becoming the global laughing stock as the rest of the world divides up our dwindling market share.

ENQ remains a good bet, as long as oil prices allow ENQ a sufficient margin, AB makes the right deals and finally the Government looks behind the Matrix at factual reality.

Rising Gas prices should eventually help the sp, although production of a bit more gas would also help, or even Cross taking a pay cut...

Stevo, agreed. I think that announcing an increase in net debt at this point would be counter productive, particularly for the sp, a bit like Labour's management of budget expectations in the run up to the budget. Two further months of FCF's before 2024 figures are complete will help and when they are announced in Feb '25, there will be a very positive near term forecasts for ENQ due to reduced capital and lease spends in 2025. In addition, undoubtedly some sort of deal will have been completed and the figures both for acquisition and capital investment will be in the mix.

I am happy that AB is patiently playing his hand well at the moment, plus it is only 12 weeks to a proper update.

At first I looked at the RNS with concern, but then I re-read it. The bad news is out and we are almost at the end of 2024.

However, 2025 is shaping up to be very interesting, $60m lower Capex, reduced leasing costs from April, so debt will keep falling.

Near term, update and bad news out of the way, but surely now Kraken is about to fall into our lap lock stock and barrel, with ENQ being the operator and in a position to develop the field with an in fill programme. The longer AB waits, the worse Waldorf's position becomes. I believe Waldorf was thrown a life line because pretty much everyone thought POO was going to be in the $90's, the lifeline delayed the deal with ENQ and whilst it must have been frustrating for AB, I believe he is planing a blinder and meanwhile, ENQ's balance sheet continues to get stronger, even if it is at a slower pace than we would like.

The phrase "truth will out", meaning "truth will become public", appears as early as William Shakespeare's works, in particular The Merchant of Venice.

https://uk.yahoo.com/news/why-ed-miliband-net-zero-061752042.html

This is a good article that pokes holes in Ed Moribund's net zero plans and mirrors all the common sense articulated on this board.

Ed's only way out is to build nuclear and fast or we will be bankrupt.

Please read this article and pass it on to friends, MP's etc.

If Brent remains at around the $70's, preferably much higher, ENQ will steadily make progress which will be accelerated by reduced lease costs starting in 2025. Patience here is the game and I believe AB knows that he must focus on really positive deals for ENQ that do not create another black hole of debt. We are now within the two week window for the next company update - let's hope it is good.

Start trading a few shares to increase overall volume and that will help increase the buybacks, I reckon I have helped ENQ buy a fair few recently.

Oxygen, you may be right - cold sharp shock treatment.

Unfortunately, my portfolio has already frozen over, just hoping ENQ's operational update helps thaw it out a little, only three weeks to wait.

The Wood Group are in trouble - 60% drop in share price! Auditing issue triggered sell off, MCap now just double ENQ.

Perhaps AB is a wiser man than we gave him credit.............

If Trump floods the market and POO heads to $60, then AB is right to reduce debt whilst he can and concentrate on keeping costs down, so that the company with its tax losses weathers the storm that others might not. In this scenario, there will be fire sales of assets and AB can afford to sit tight until they fall into ENQ's lap.

I can't see the Government bailing NS O&G out and I can't see them doing anything whilst gas remains high, especially as we go into the Winter.

A great deal of patience and anxious times for us poor long term holders, but given ENQ's now manageable debt, decreasing lease costs, tax losses and financial liquidity, along with solid management and well capping capabilities, we can only hope that ENQ will eventually be a profitable last man standing with the ability to return cash to shareholders.

For ENQ, a 1.632m £2.00k sell is quite chunky @12.15p.

However, ENQ has bounced back to 12.39p afterwards, which is a bit more respectable after recent Brent rises.

Brent rising despite market rhetoric and jitters trying to talk it down, the pundits are so contrary, it does make you wonder if there is some market manipulation at play.

We need news and the current backstop without news of a deal is the update at the end of the month, now less than four weeks away. Some clarity will help, although the EPL payment in this period will be painful, plus Brent has not been in the $90's for this quarter as many predicted. Nevertheless, I am hoping that ENQ can pull a rabbit out of the hat with some good underlying figures and of course a decent 2025 forecast.

It is O.K. Reevesy, Ed is generating growth for you............................growth in subsidies, growth in costs, growth in energy costs, growth in CO2 sequestration costs, growth in imports - the only problem with Ed's growth strategy is that is shrinking the economy.........................

Just hoping ENQ comes good soon, if ENQ does really well, I'll have the funds to emigrate. The upside is I'll only need an airline ticket and a suitcase as all my other assets will be worthless, either taxed to death or probably confiscated by the state.

The revenue generating Middle Class are being thrown under the bus, but the reality is that ultimately we are all in the same boat/island and it is a B****y big bus!

Reeves, Starmer and Milliband are amateurs with an ideology and mandate that will destroy the UK economy - five years of this and it will be beyond repair.

Thanks to subsidies and flawed strategy, energy costs now and projected will destroy industrial competitiveness which is already on a downward trend, Reeves cannot call government spending growth. Growth comes from generating added value and being a net exporter of products and services, including developing natural resources such as NS O&G, but no, unprecedented 78% tax..........NS O&G has been hit by another bus, I think it was a No11.

The ESIM was set at $71.4 (I presume based on Brent and not POO, not apparent on Gov.uk site) and we are due an inflationary rise in December. I realise two quarters/Gas etc. etc. However, the current price of oil and increasingly aggressive reactions to the injustice and consequences of EPL, plus reinforced by NS O&G investment decisions must surely start to register. The question is even if Reevesey wanted to, could the Government afford to ease up on EPL. The question the OBR should be asking and updating is whether the HMRC revenue forecasts still hold water?

ENQ holding up reasonably well today all things considered.

Plans to shut down a vital terminal in the North Sea have sparked a bitter legal row over claims it will damage the UK’s oil and gas production.

The proposal by French energy giant TotalEnergies to decommission the Gryphon terminal, which serves four offshore oil and gas fields, has triggered a claim from a rival operator.

https://uk.yahoo.com/finance/news/french-oil-giant-embroiled-legal-155123413.html