Member Info for AIMOilking

Sekforde, I am sure you are right, this additional facility is a direct result of EPL and ensuring sufficient liquidity. I am still outraged by this whole EPL saga. I wonder if AB's involvement was to give confidence or just to get us over the finish line or just 7% thank you very much.

It is crazy that a government should implement a (retrospective) tax policy based on one spike in POO and largely on a single industry that could not only put viable businesses out of business (liquidity) but also destroy an industry which despite global warming we actually need and contributes massively to GDP and the treasury. Bonkers!

Anyway, ENQ seems set and I am hoping for a steady rise into the results, followed by a nice jump as net debt and shareholder value policy is announced.

All makes sense to me and looking forward to the results, in particular net debt and fleshing out of shareholder return policy. Agree RNS timing odd, although perhaps timed to be after banks meeting with Government, but nevertheless a positive RNS.

Poo a little stronger at the end of the week, let's see what Tuesday brings.

September is next week! Last year the reporting was on 6th September, 12 days away potentially.

Kraken, I think ENQ will give more detail on there shareholder return policy this September and that we remain on target for it to be implemented starting in 2024. Personally, buybacks would seem the most logical, cost effective and flexible. ENQ can choose when and how many, it does not involve the administration of contacting all shareholders and for the shareholders, they are in a better position to manage their CGT compared with simply having to pay tax on Dividends.

September in the tipping point with greater clarity on debt and shareholder returns.

January, if you are worried about production figures and ENQ meeting their year end forecast, why not get in touch with the company and go over the updates etc. This/they will tell you the following:

Kraken down time was used to bring forward and complete scheduled downtime/works for later in the year.

Forecast production holds so no need for update RNS.

Production on all wells has generally been good.

Kraken is back at pre shutdown levels.

Further redundancy in transformers in place September.

September update should clear the air.

M&A discussions will of course be on going, but clearly none warrant an RNS, but watch this space!?

A bit more expression required - I cannottt beeleeive it!!

The September results better be decent and come out soon.

Revenue, production and profits down, but still £337m profit, POO achieved interesting.

Cook looked formidable in photo and I wonder how much she has been able to massage the figures to support political objectives re NS investment and modification of EPL. Would not surprise me if the taps have been turned down whilst manoeuvring and we'll see better results going forward.

Apparently, the company is in active discussions on a number of fronts as one might expect, but none of these possibilities warrant and RNS at this point, but that could change any day, especially given the current environment and it has been some time since some substantive news. Given that nothing is reportable and we are not in a closed period perhaps the BoD have finally decided to buy some more share before the results. I can't remember how far the closed period extends before results are announced.

Papegoja, ENQ advises that there were production issues and some of the downtime was used to complete works which had downtime already programmed for later in the year, so the impact was mitigated to some extent. In addition, the company says that all operations have otherwise been performing well and impacted production has been fully restored. As a result, the company's forecast range stands for the year and so they have had no need to issue an RNS update.

I also don't know the when's and how's of how ENQ repays debt, but I do believe that if production forecasts are good, POO is rising and has been above cost per barrel throughout this year, plus taking in to account advised capital spoend etc., along with the impact of EPL - ENQ must be making free cash and therefore overall net debt must be coming down in the absents of any other M&A activity or disasters.

I remain hopeful that this September's results will be positive overall, confirm the figures and as a result help the sp. But I did of course say this last time, however, this time I am more confident.

Yes, but in the same report does it not mention that capital spend was front end loaded for the year, hence the relatively small reduction in debt, personally expecting double the debt reduction pro rata for the rest of the year from the end of April.

Any comment?

At the end of April net debt was $678, from Tarmak's forecast, can we assume that debt after EPL will reduce by $20m per month to now, that would be roughly $73m or equivalent 3.8p per share. At the end of April the sp was 16.72p. So ignoring the increase in POO and assuming the production forecasts are good, the sp should be 20.5p based on the net reduction in debt, or ENQ is further undervalued by US$73m. I feel this next update in September is going to be critical against the background of production and POO.

I believe we are getting to a tipping point where debt risk is substantially reduced and the potential announcement of the shareholder return policy will establish future value, it will then be a question of production and POO going forward.

Totally gutted by the recent sp performance, I thought the recent positive trend was underpinned by ongoing net debt reduction and apparently I was wrong or the market is asleep or earning decent returns off companies not unfairly penalised by EPL and government mismanagement and sticky fingers.

Agreed - daft time for the RNS and whilst the RNS talks of jam tomorrow again, AB seems to have been misleading punters with his imminent sales of ore. If there is a Chinese interest perhaps they should simply buy out RRR for the Lithium licences and get the Australian Licences and any royalties for free.

If this is a last minute pump, it is scaping the bottom of the barrel.

EPL a direct tax on the investing class - £366m reduction in ENQ MCap for a few tens of millions of tax. As I have pondered before, I would love to know what the net benefit of EPL is when all other factors are filtered out.

It gas certainly been painful, I thought we were coming out of the ENQ gloom with the recent rising sp trend and I think the current dip could have been avoided with a soothing August update from the BoD.

Scots are waking up to issues relaying to premature rush to shut down NS given NS's contribution to GDP, taxes and energy security through transition.

Can't believe we are sub 17p again, this is bonkers, we need news or certainties (reducing debt, shareholder value policy, production figures etc.) from the ENQ BoD............to stop the drift.

Disappointing sp action today, although I realise that POO is down. However, I can't help feeling that there was an expectation of an operational update and whilst we'll see firm figures in September, I can't help feeling a lack of communication by ENQ is resulting in this drift in sp.

Kraken - the World has gone bonkers and our government and government in waiting are intent on levelling down not up.

As I have said before, it would be interesting to see the governments net take fro EPL when taking into account other taxes lost e.g. corporation, CGT and Income tax, plus the loss in overall wealth in terms of MCap. Short term gain for destruction of a viable strategic industry.

Hopefully will be a good day for ENQ and a higher POO gets us closer to a coherent and implemented shareholder return, the BoD have said 2024, all we have to hope is production and POO hold up for a few more months to reduce debt and financing costs and I think the BoD will surprise us with an initial batch of buybacks later this year. I am expecting we'll here more in September, after all that is getting lose to 2024. By September we must surely be close to the target 0.5 ratio.

The positive trend continues, we have broken 18p and I hope we'll end above that this afternoon.

Production is back to 100% and the original annual production forecast range stands. The repairs allowed other planned works to be completed earlier and the other fields production rates are performing well.

No operational update likely given we are so close to the results as there are no circumstances as per last year to warrant an update.

POO above $86 so potentially better day tomorrow.

The positive trend line from 14p on 23/6 has continued, even taking into account the recent blip. A continuation of this trend to Christmas would put us in the 28p range hypothetically.

I am looking for four things in the meantime:

A good update;

Revised EPL;

Director buys;

Shareholder return policy for 2024

If there is any good news on top - icing on the cake!

We need a good OU soon to steady the sp.

I don't understand a 0.6% rise in oil today and ENQ is 3% off - does not make sense?!

Sentiment slightly improved this week, reality about the need for oil going forward dawning and bullish sentiment on price of oil partly due to lack of supply and investment going forward. Is just the chuntering of Ed Millibrain upsetting the NS oilers?