Member Info for AIMOilking

ENQ Sp developing a nice steady trend line, roughly 24% up since 11th March, which is a percentage and trend punters will start to take note of, just need a little more herd mentality and the commencement of buybacks to tighten things up a little and BOOM!! 20's should be achievable in a few weeks and if not the next update will hopefully do the trick. After an appalling H2 2023, even my portfolio is starting to perk up, dropped back from DEFCOM 1 to 2 - phew!

As I type, Brent is $87.72 which is the highest since October 2023, so ENQ sp should kick off in a positive fashion in the morning.

I am hoping that last Thursday's news will have percolated through to some analysts returning from their holidays and we'll see some articles and upgraded targets for ENQ. Let's hope that this week will prove better for the sp than last week!?

Stevo - great detective work and post - best bedtime story I have heard for years!

If all this true - street smarts to AB and his team.

Dumbly, RNS timing - not sure the day before the Easter Break was the best timing...........

Pape - Good point about liquidity of shares, USD15m could have a bigger impact than I first thought.

Stevo, thank you for you answers and posts - I would never have guessed that the mention of three letters (EPL) could make me feel so queasy! I can see now why AB would go for infill/organic growth as a priority and only cherry pick the best deals to maximise use of the tax losses. This may mean that with $500m in cash and facilities, AB will go ahead with Bressay without further partners.

Some quality posts recently and I am still a believer that ENQ has turned a corner and the sp will rise from here but perhaps steadily rather than an sudden re-rate thanks to market sentiment towards NS O&G, but the figures and buybacks will eventually win out. I would not want to be shorting on the day buybacks actually start for real.

Stevo, I do not see how EPL can be applied to Bressay sale unless it has a book value of zero and the sale price or a proportion of it is regarded as pure profit on a NS asset, surely that cannot be the case? If it were the case not only would the government have stolen 35% of the profit on operations but 35% of element of an asset showing above book value. This has some logic but is another element of the scandal if true that had not registered with me.

We need clarification on the Bressay deal, sale price, rumoured loans to Rockwell and tax implications - I am now confused following the various comments, RNS and presentation Q&A's etc.

Overall not a good day despite an excellent RNS. Bad timing for the RNS but hopefully the positive news will percolate through to some positive analyst reports and upgrading of targets in the next couple of weeks.

Nice one AB! Say it how it is!

Keen to see what the pundits are saying, I clicked on the Alliance News article under ENQ Share News.

I can report it is sloppy journalism by someone possibly ill qualified to comment or lazy, so I have complained to the editor via the email address at the bottom of the article. I am not going into detail, but it does not mention massive net debt reduction and whilst it correctly states that no dividend will be paid again this year, it fails to mention the confirmation of a share buyback scheme.

If you agree with me about the article and can be bothered, please send the editor a missive - thank you.

I thought the new production guy was good and even with his dour style, still managed eloquent answers and and a higher degree of confidence and enthusiasm than AB and the new FO.

Given the good news story from ENQ, I thought AB was hesitant, but overall, this is a team that is delivering and has clear but perhaps cautious plans for the future, which on balance is good.

Well Brent up at $86.81, a good results by any standards and all the sp can manage is 2.5%, let's hope for a little more by close following some new targets from the analysts/brokers.............?

Krak WTF!!!!! The 70m reduction in debt should have been worth almost 3p alone on the year end sp, we should be in the 16-18p bracket and then confirmation that buybacks will start in 2024 should be worth another 4-5%+.

I just hope the ENQ share spring is properly coiled and we'll see a re-rate soon.

Phut fizzle..................a couple of traders cashing a few shares in has taken the shine off the opening sp, market needs to digest and post 09:00 I think we'll see a rise and end with decent Blue today.

ENQUEST PLC will be holding a Results for the year ended 31 December 2023 meeting on 11th Apr 2024 at 2:00pm BST.

Presentation at 09:30 this morning.

0.5 target close, so I reckon buybacks around end of H2 but DURING 2024. It is an action not just a policy, so very positive for the sp and future. ENQ BoD has the authority for 10% buyback currently, so there may be more.

Appreciate, there will be some shutdowns but so far production at top end of forecast @44,500 and Brent above last years average I think, so also very positive.

Debt @29th Feb '24 $409.6m or £325 roughly.

Everything seems to be on plan and as expected although buyback programme a little conservative, but heyho it has started and a conservative approach means faster debt reduction and room to manoeuvre.

POSITIVE - looking forward to presentation which I assume will be later today.

Board of Directors shake up and addition of Rosalind Kainyah MBE - possibly to help with deals and M&A activity.

RNS out and committed to $15m share buyback in 2024.

Oh dear!..................how depressing!

I bought some this week and wished I had waited.

Nice little positive trend from the 12-25th March, what I was hoping for and then drops off a couple of days before reporting - not what I expected. Has there been a leak or have short term traders taken a safe little profit.

I have already set the alarm for tomorrow, I just hope AB get's his pitch right, it is not just the figures but managing shareholder expectations. I am hoping this is the end of the bottom and beginning of the re-rate - a slightly Churchillian moment...........

13.72p - I can't believe it!

Sekforde, I would recommend watching the movie.

I am no expert and truly believe that global consumption/pollution is an issue that urgently needs to be addressed but this climate change "religion" we are now seeing and some of the resultant decisions do need to be challenged. The broad direction is right irrespective of climate change, but limited technology and political factors may have unintended consequences, whether it is spending our limited resources on premature technology or tying ourselves to net zero without global consensus or even equality for many nations.

Thinking back this century, the year 2000 when all aircraft and computers would crash and the phenomenal amount of money spent on that fiasco, the pandemic - fair wedge spent on that fiasco. I am a generalist, by that I mean that I have a unusually broad background and experience and like Stevo, believe we need to look at all the angles - the film is worth a watch and the speakers have impressive credentials, not the usual podcasters. Let us know what you think?

Back to ENQ, this morning has unnerved me a bit, I had expected a solid 14.5-15p sp at this stage perhaps more, so sub 14p is not good. It all rests on tomorrow, if the figures are good past and future forecasts and the narrative for the return of shareholder value is sufficiently positive, we should see a rise. O&G sentiment has improved a little with POO recently but overall the NS O&G tunnel does not appear to have much light at the end of the tunnel thanks to our numpty politicians. After tomorrow, it will be all about net debt reduction, FCF, shareholder returns and price of Brent all else being equal - in the end these figures do not lie and will eventually translate into a higher sp.

DYOR

As posted, I was expecting a strong week but was so surprised by the sp drop before the bell I blindly added a few extra shares in the hope that following the companies figures and announcements we will end the week on a high, so you can thank me later for helping to recover the price a little at the close!!