Member Info for AIMOilking

Dumbly, the trouble is can MP's be bothered to read such studies, are they even literate enough to read? Seems they are only good at punch ups, I hope the hapless MP resigns and there is a by-election.

Tigar, its the Drax power station subsidy at now about £5,000,000,000 that gets me and because the wood is renewable and imported it does not count towards the UK CO2 production, the UK's largest single CO2 polluter.

Your post amused me, more seriously, I wonder if Ed has worked out that if we don't manufacture here, who is going to pay for hi9s net zero? Plus our electricity is so expensive, few industries can actually be competitive here.

Not a great fan of this particular journalist but is the NS O&G message finally getting through? I actually complained about a previous article lacking understanding and this article is a much better effort at spelling out the situation.

https://oilprice.com/Energy/Energy-General/Is-the-UK-Taxing-North-Sea-Oil-and-Gas-Out-of-Existence.html

Yep.

It appears that water pumped out of the mine is running through some sort of a settlement tank rig and the sand that is settling is being packaged up and onto pallets, I assume to be taken away for processing. Does anyone know what is happening here and whether any Gold has been extracted as a result? Has anyone asked the company?

I assume it is being pumped unless it is just the water flowing out of an adit and piped into a settlement tank?

Krak, with all the NS assets in play, in theory ENQ should have their pick and a profit share deal with minimum capital outlay would be the best way forward for ENQ. However, I think other NS producers will want cash upfront and to get out clean, so ENQ with current liquidity could fork out cash but that would dent AB's net debt ambitions and 0.5 target, but if the deal was right and POO holds or goes higher, FCF's could be substantially increased to offset short/medium term increase in debt.

All we need to do is trust that AB brings home the right deal and at the AGM AB said the deal would be done by the end of November.

I hope Labour leaves NS O&G alone in the budget and just reaffirms its 38% EPL for PR purposes, plus some comforting words that reassures the market, the deck will then be clear for AB to do deals and hopefully the sp will respond.

Thanks Stumpy, interesting article and from it even a politician could comprehend the impact of EPL and Labour's successful destabilisation of the NS O&G industry, building on the lunatics Sunak and Hunty's dire efforts.

Diabolical!

Nice to see ENQ above 11p, I was hoping to scoop up a few more below 10.5p this week, but the Malaysian news seems to have scuppered that ambition.

ENQ sp rising on falling Brent is more significant to me and when I looked earlier there were more sales and buys.

Personally, I think sentiment towards O&G is improving and the renewables bubble may be bursting, it has all gone quiet with regards to NS O&G in the budget but clearly market uncertainty remains until the 30th at least. I also think that long term ENQ holders are bored and some of the trading volume we are seeing is holders trading on the margins whilst waiting for news. Such trading also has a small positive impact on buyback volumes.

If one had bought a few extra ENQ at the bottom to trade, every successful trade is a bonus and if you are out on a sharp rise, it will have been at a profit and you will have had some fun. Such trading is basically low risk as ultimately ENQ is undervalued and will ultimately go up. DYOR

As long as POO remains above a reasonable level, say 60's-70's minimum, ENQ will throw off FCF's and increasingly so in '25-'26 with lower costs. ENQ BoD have stated that capital will be set aside for ongoing buybacks and potentially dividends which will make ENQ more attractive to investors. There also may be further decent deals to be done and the BoD's stated aim is to quartile NS producer with diversified portfolio.

My average was 26.7p also but I continue to average down, now 20p and yes, I think we will see 30p within 2-3 years.

Onedb, I am right in believing that Warren Buffett was advocating getting back into Oil a couple of months ago, would not surprise me if he was shorting the bubble!?

Good news and obviously building on ENQ's positive track record, but how does it translate into shareholder value?

Oh dear!

Brent down a tad further to circa $73, low ENQ volume and trades on Friday and the markets can't make their minds up about O&G demand and supply going forward. In the meantime we wait for the next episode of the various soap operas around the world from Russia and Ukraine and now North Korea through to Israel and Iran plus China and Taiwan, also whether the US will be drawn into any of these conflicts.

In the UK we have the budget and I have to say a Labour success is that hey have created mass uncertainty on a scale I have never seen before both at home and abroad. Their amateurish and ideological approach has sent anyone with assets running for the hills and the investment environment difficult.

Where does that leave ENQ, minus a major geopolitical event that upsets the O&G market, I think we are at best flatlining to the budget and at worst drifting into the budget. I have also noticed the spread has been far larger lately which discourages trading which I believe much of the volume lately has been. I have been trading a little and successfully, it helps my average but also to a small degree helps the buy backs with increased volume, but as I say with the sp trading in a narrow downward trending band, the spread is killing this fun whilst we wait for the big events, the certainty of a punishing budget and uncertainty of a potential ENQ deal.

Ron last posted on 30th Sept and only posts on ENQ.

I hope you have just taken a break for a coupe of weeks to an non internet paradise somewhere - look forward to your return!

Thank you, any other input welcome - thinking about it - no decision made.

New to this BB and Alba. A quick look suggests fast cash burn, minimal likely income short term and massive costs to commercialise Clogau Mine. Also noted Micheal Nott is NED, I believe he saw the decimation of Redrock Resources share price firsthand and their adventures into gold mining, does not instill faith.

Can anyone on the BB convince me otherwise? Is Alba worth a gamblers's punt?

Brent starting to recover from 5% down and I would not bet on single figures with the spectre of Israel hanging over Iran and its response in turn. I would bet on Brent going higher at some point and ENQ will follow.

2 weeks to budget and 7 weeks to ENQ update, which despite the EPL hit/payment, it should still demonstrate underlying progress.

Tarmak, really appreciate your posting your figures. Forecast not looking as good as I would have liked but that is thanks chiefly to EPL.

One question, where have you accounted for the reduced lease costs from April 2025?

Personally, added today to keep chipping away at my average.

Https://www.aol.co.uk/money/blackout-prevention-plan-activated-first-121056223.html

Oooow......... If Ed actually had a brain cell, he might wish he had not decommissioned the last coal powered electricity generator and perhaps thought a little more about UK energy security and the part NS O&G might play.......... just hope Iran does not play with oil market by attacking Saudi or closing the Straits of Hormuz.

Yes, the BoD is quiet, we are now 4.5 months into AB's 6 month period since the AGM by which he said a deal would be done.

Given the enthusiasm of the management team at the time, one can only assume that the Budget is holding matters up.

I have never known so much speculation over and Budget as this one, doesn't the government understand that uncertainty paralyses large business/investment decisions and causes market/economic drift............oh, of course none of them have had a proper job, perhaps competency should be part of the vetting process for MP candidates.

The only certainty I have to look forward to at the moment is the next ENQ update 7-8 weeks away.