Member Info for AIMOilking

Good find Ron, eloquently explains what many of us already knew - certainly worth sharing with MP's, BBC, trade bodies, O7G shareholders etc.

Sorry I did not make it absolutely clear, the 750,000Kwh was the extra difference after capital costs and subsidies i.e. the extra cost over staying with heating oil............without maintenance costs - I would not recoup the cost in my lifetime.

The technology needs to improve to sensibly reach net zero at a realistic cost, which means that transition and the need for O&G to sustain civilised society is going to be a must for sometime to come and even upon reaching net zero, hydrocarbons will still have a role to play until someone invents a substitute for all plastics, chemicals, fertilizers etc. To realistically achieve net zero will require draconian measures on a global scale and a very different lifestyle.

ENQ will have its day unless Labour nationalise it by stealing from the shareholders, that is stealing more than just the profits.

Before the Ukraine war, I looked at heat pumps, with subsidies and over 10 years, I worked out that with the capital costs and additional electricity I could buy over 750,000kwh equivalent of heating oil equivalent. I went with Hydro instead for which there is no subsidy and they have put the application charge up to £6387, I presume to go towards the subsidies for the heat pumps!

Anyway, don't get me on that subject, much more interested in the Brent $86.25 per barrel and trying to understand why ENQ is flatlining. Big spread this morning but was able to buy at the bottom of the range - 10 days to go!

Krak, I think AB will provide a clear message and this has been indicated by IR, who have also indicated that action will be taken this year. The financials have to be right for the buybacks to begin and currently I am hoping before end H2, the timing is mainly POO dependent, the higher the price the quicker it will happen.

Tav - the last crash came 2-3 years later than I certainly expected and in the meantime shares did quite well, for me they were the best years, but it is knowing when to get out.

Trade not shown but added again this morning in the hope that shareholder value announcements and updated debt figures will put a light under the sp.

Ron, I wonder how many signatures an "abolish EPL" petition might achieve?

Probably not many unless there was a decent bit of PR in the Press, with company employees, shareholders, pensions and trade bodies.

BTFath1 - Like you I believe we'll see a sp rise into the results announcement and presentation, the key this year will be the announcement on shareholder returns. IR have confirmed there will be an announcement on 28th March, that is just 11 days away backed with all indicators suggesting Brent will continue to rise.

The question is: when will ENQ's finances allow a buyback or dividend policy to commence?

All indicators (debt reduction/POO etc) and consistent messaging from ENQ suggest that ENQ will be able to implement the policy this year, the question is which month, originally I thought October, then August and now I believe within H2. If this is a given, then I would not only expect a rise in the sp into the results but the news should also trigger a re-rate based on the strength of the ENQ balance sheet and debt reduction de-risking the business but also on shareholders returns making this a more attractive share to hold long term.

Very excited about the prospects for the ENQ sp, just hope AB delivers!

It always the same with trade associations, the big players pay the majority of the bills and have the professional lobbyists and hold sway, the minnows rarely get a look in. The NS independents are being unfairly treated and tarred with the big oilers brush, it is time they coordinated a simple strategy to put their message in front of the government before it is too late.

Krak, it does not have to be a large net seller, may just me managing losses before the year end as there have been no holding RNS, my current losses are probably enough to last a life time unless ENQ pulls the requisite rabbits out of the hat!

Yes, I mean results but these do usually include an update on progress in this financial year.

Apologies - I did mean approaching £250k EXTRA FCF a day.........

Since 12th Dec '23, Brent has been rising (+15.7%) and the ENQ sp was actually down on 12th Dec sp at my last post. O.K. that is a fact that might suggest the potential spring in ENQ's sp is tightening, but let's put this into perspective...... That is approaching £250k a day net of EPL and in pound notes in the bank. This also means debt is being paid down faster and revenues are higher, whilst production levels are being maintained. This means the fabled 0.5 ratio target is moving to the left, which means buybacks can commence much sooner.

Just three RNS this year and 16 in the last 2 months of 2023 - ENQ has been quiet but we have the operational update in a few days now and I am expecting a raft of news and hopefully that translating into a higher ENQ sp.

Be lucky if we can push through a paper bag at this rate - Brent at $84.15 and ENQ is down 1.39%............

Ab needs to surprise the market with some buybacks to get noticed and to use the opportunity to get messages/narrative into the market place.

It is possible that AB will surprise us/the market and use his authorisation to by back shares to coincide with the end of March update. He would then seek authorisation for a further 10-20% BY BACK IN 2024-25.

i don't understand why reeves and co get a free ride when ever they attack the ns o&g industry. reeves when asked how she would fund her spending plans said that she would extend epl and have vat on school fees. then a verbose guest hugh fearnley-whittingstall stated they should be a wealth tax and all o&g licences (i presume those recently granted) should all be revoked. no push back from kuenssberg. i suggest that we all start writing to kuenssberg@bbc.co.uk to enlighten her with some one liner rebukes when people prattle on about taxing or destroying ns o&g. there is a law of unintended consequences and what may look like a cash cow may just be a china cow and a very breakable part of future government revenues and transition.

apparently, reeves doesn't have a clue as to what they are going to do about spending plans until labour is in government and i presume she will get a *** packet out to do some financial calculations. she also supported ed milliband's shot at the leadership, so i assume that ed has her ear on epl and renewable subsidies.

nothing changes, many years ago i had a private chat to a labour shadow chancellor, i asked what was his plan for taxes if they won the election, he whispered "we don't have a plan and we'll keep quiet until we have won the election and then work it out". i was shocked then but now realise nothing changes for these self serving politicians.

after listening to reeves, i find myself wondering about emigrating whilst i can still afford a boat, not sure would have me though.

i just hope that enq does not disappoint with its now imminent update...........moving to the right for jam tomorrow will not be very palatable.

Ron, summarises what we all feared was happening. I wonder how many MP's are directly/indirectly benefiting from this parasitic gravy train?

Why aren't the wind farms paying EPL to offset the subsidies they have been paid?

Service stations are a rip off and it would be interesting to find out how much they contribute to inflation - why are they not be windfall taxed?

Great video find Ron, but didn't the guy get his maths wrong, because he charged before he left and was close to empty on arrival, so his costs were 10-20% higher, say possibly 36p a mile, I wonder what expletive he would have used at the end of the video, he would have probably spontaneously combusted!

The Ed video - what a numpty - we are all doomed and I thought that the government was not supposed to compete against industry - anti competitive. Oh I forgot they are in charge of the goal posts, hence the punitive EPL theft on NS O&G profit.

Question for IR, does ENQ have loss of production insurance and given that included the down time for scheduled maintenance later in the year, might need to moderate "scrotties" expectations.

I am hoping that Bressay will be developed and ENQ will sell another 30% to raise 100m, share costs and de-risk the programme, that will give increased production, develop Bressay without increasing debt (sale proceeds offset ENQ share of costs) and there will be another 300m of capital losses and 11m cash from initial production as part of the original 15% sale agreement. More reasons to potentially be happy and hopefully we'll hear some news soon.

Frac, good spot. The article quotes a whole gang of people that grasp the truth of the matter and harm EPL is doing to the industry and country.