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The reduction in net debt has surpassed my February target forecast ($485m) by year end - $481m, thanks partly to lower Capital Costs. This means that my August target for hitting the 0.5 ratio could occur earlier, especially if the Bressay monies due in January are not included in last year's figures. In addition, the companies forecasts for production levels around 43,000 or above in '24 & '25 are positive and allay immediate fears of production decline. Brent at $82.8 as I write are likely to hold due to geopolitics and demand, so debt reduction should continue a pace, as will reduced financing costs. Another partner for Bressay will bring in cash, reduce risk and exposure and probably make progress more likely. The in-fill programmes are also positive as is SV potential.

Brokers should re-rate a.s.p., buybacks will likely start mid year and at the current rate of debt reduction, the balance sheet should look even more respectable by the year end. The question remains, will AB pull some rabbits out of his hat, possibly in an ASEAN country?

Certainly a more upbeat tone to this update, I might even venture out for the AGM and look forward to a more detailed presentation in March.

A better day with an 8% rise and this month's massive portfolio loss has been recovered..............another 7 days like this and I'll be back in profit lol!

12p and Brent @ $83 - massive disconnect getting bigger!

Stevo, if your figures are right, it truly is madness.

The trouble is the "politicians" have no where else to go to plug the immediate hole in the UK's fiances. The trouble is the government is not satisfied with basic tax, or legislation, it is now meddling in business matters, targeting profitable industries and Labour looks like it will actually compete with industry through their proposed GB company.

If Labour get in, my betting is inflation will rise dramatically, assets will become worthless and everyone will be brought down to an impoverished level - say goodbye to a comfortable retirement...........

Roll on ENQ results, I hope they will at least be half decent.

MCap now £230m with sp lowest since Nov 2020...........How does this make sense.

Can't wait to see the figures this week, let's hope they are good!?

Re Kunnsberg TV programme today, Labour's Patsy justified higher EPL on the basis it paralleled Norway, but forgot to mention other Norwegian mitigating factors as previously discussed on this board.

Stevo , I am not sure ENQ would be bankrupt but paying down debt would be more difficult HOWEVER..............ENQ does have lots of tax losses and is still paying down debt at a prodigious rate and we should hit the fabled 0.5 ratio this year.

So please look at ENQ with a glass half full, in the meantime you are right, speculation at this point is time wasting as we will have some real figures in a few days.

Brent is above $81.5 and the World is in geopolitical meltdown which should mean higher oil prices and some focus on energy security..........and yet the ENQ sp is at 12.27p. Perhaps I am a dinosaur struggling with a new World order but I cannot fathom the rationale and in the meantime I have my portfolio has fallen off the graph!

Bonkers, my mate posted a picture of his pet, it went viral and it now earns more than I do!

Luckily - I hope - the update is now just days away and hopefully we might get some relief for the pain and the sp will start on a proper recovery trend upwards.

Try the Fortum and Mason's breakfast, always a good start, I might treat myself if the ENQ sp recovers...........

Stumpy, I give up! Nothing makes sense anymore.............POO down! I am off to be a mushroom in a quiet corner somewhere until the results come out............

Added today for the following reasons, undervalued, something cooking, good management practice shown, global tensions, oil holding above $80 ($81+ as I write) and simply cannot resist lowering my average at these prices.

Plus one other thing, quite often ENQ rises into the results and late February March. Given that I am expecting good if not better than expected results and further good news, worth upping my exposure to Defcom 1.....! Gulp!

If Brent holds, we should see a bit of an ENQ sp bounce.

Now 2-3 weeks to update.

Brent has just surpassed $81.50 a rise of about 2%, which theoretically means an additional $40,000+ to ENQ's bottom line every day, even after full EPL is deducted or $15m+ p.a.

How does the ENQ sp respond - it goes down?!?!

As the balance sheet strengthens, I am only hoping that the proverbial spring is tightening ready for the update which should only be 3 weeks away.

The updates are always interesting but the impact on the sp has always been lacklustre, perhaps this time it will be different?

Stockbox - What a load of "fluff"!

DRC money batter come in quickly.

Ask IR.

Romaron - love the phrase you used " abundance of cash" - let's hope some comes our way!

I am hoping Bressay is nearer than we think and if I had just shelled out $44m to ENQ for 15%, I would be hoping for a return sometime soon.

However, I think we may see another partner coming on board, because I am not sure ENQ has the financial capacity to fund short term 85% of the capital costs and I feel that shareholders might be a little upset that with the 0.5 ratio within their grasp, AB goes ahead with Bressay and pushes shareholder returns out to the right. The fact is the sp has gone down even with massive debt reduction - what will happen if ENQ takes on a shed load more debt.

At this sp - I am just going outside,...........I may be some time............

Back below £250m MCap and already Jefferies' target is wrong, almost 10% below............who would have believed that a week ago!

In all the years I have been investing, most reasonably successfully, the ENQ sp is defying belief but then so are the politicians that imposed EPL, I am afraid I squarely blame them for my losses.

Only decent, real figures will eventually win out and I hope that the operational update, which now may be less than a month away will infact be the pivot point for the sp. AB must be scratching his head over the demise of the ENQ sp and I assume more is in the news pipeline, hence he cannot buy shares, perhaps after the results?

If AB hasn't spent all his holiday euros at Davos, please could someone ask him to buy a few shares to give ENQ's sp a shot in the arm, an immunisation against Jefferies's 14p target...........

We need to move on with other broker targets renewed and hopefully a decent operational update and figures for 2023.

Alex, good plug for HBR, but based on the last target you mention, that would be an 18.75% increase in HBR sp, but I am hoping for a short term rise of 118.75% to 218.75% and a 318.75% to 418.75% medium term rise in ENQ sp. Hence, I am hugely over committed here, so much so I should be committed!