Member Info for AIMOilking

FTSE is up, POO around $84 and ENQ is down 2.14%! I don't understand, is this just sentiment after the BG and Shell reports?

ENQ has pretty much lost the last 5 days gains whilst the POO has risen, it just does not make sense?

This is upsetting the nice trend line that ENQ sp has established over the last month - is this a little profit taking and now a buying opportunity or is something else at play?

Linda Cook would love to say that thanks to EPL I have had to buy out ENQ simply to avoid paying £600m in UK tax this year and £200m UK tax next year, oh and by the way thank you Hunty for giving ENQ to me free of charge and its a bit of a bummer that after all the effort AB put in and the enormous risks taken by ENQ and its investors - you Hunty have effectively destroyed the value of what should have been a FTSE 250 company for exactly nothing.................carry on the good work and destroy the remaining £30bn GDP the NS contributes ...........that will soon be nothing as well.

Oh go on Hunty, go on, get yourself into the House of Lords so you can enjoy a free lunch for the rest of your life, but do it soon before you realise that you have no friends and I wouldn't visit Aberdeen for your recess holidays!

US$84+

Hypothetically (ignoring hedging etc) US$16m+ p.a. per dollar on POO to ENQ. Even with EPL, it all helps. Looking forward to next update next week or week after.

Puzzled!? I am sure this has bee discussed before but I don't understand all the tiny sp purchases, surely worth less than the cost of trading them - can anyone enlighten me?

Hopefully the recent month's positive trend is set to continue.

Strengthening dollar must be helping reduce our sterling costs for ENQ and any Sterling loans payments etc.

From the 23rd June low point we have seen a very steady positive trend line develop with a 21%+ rise.

Purely speculating but if this continued, with POO holding or rising further, production within range or exceeded and a good report/updates, perhaps this trend could continue and we might see 30p again by Christmas.

If we then get a clear policy on returning shareholder value perhaps with buy backs and even a dividend, the sp should continue this trend in 2024. In theory, as every day passes, the financial risk associated with debt should be another positive trend underpinning the the current trend based on business performance and higher POO.

It has definitely been a positive month for ENQ...........

Welcome and thank you for helping the sp to rise today!

Look out for the next update which we hope will be at the beginning of August and of course an upward movement in the price of oil.

Good luck with ENQ, I am hoping ENQ will fill my current tax loss!

Quote: "The acquisition opens up multiple revenue streams for ExxonMobil, from federal tax credits to upfront fees from emitters, and is expected to be particularly profitable as the market for carbon sequestration grows."

A potential purchaser of ENQ could right the same and have decent FCF............

It is one hell of a bundle of free shares, let's hope that one of the targets by 2026 is a share price above 60p! That would be around £5m to AB, but if achieved I would not begrudge it. However, if the BoD award annual bonuses as well, then I would not be happy. Buybacks are of course the easy route, let's hope free cash flow, reduced debt and a decent POO will be part of the mix.

Yes - it is quiet.

Numerically, only 39% of the RNS issued in the same period this year compared to 2022.

No BoD share purchases suggests something could be on the boil?

Let's hope the ENQ Management are working hard on shareholder value!

Romaron, if NS only has 8 years, so I assume that means £30bn of GDP, EPL and however much tax is down the swanny as well. I wonder how much manufacturing would be required to replace such a loss in GDP and tax at a time when it appears any future government has some serious spending plans, never mind energy security. I see UKGOV has exported $8bn p.a. carbon to the US in the form of imported LNG. If we were the US's poodle, this must make us their chihuahua.

Forget last month - ENQ is lower than Feb '21 during the pandemic when oil was $74 - but just look how far ENQ has come in terms of debt and risk reduction............. The current price does not make sense ......... Let's just hope that production and POO hold at decent levels and hope that the sp spring is getting really tight! Whilst sentiment is against oil, it appears a degree of realism is dawning on politicians and people generally. Nationally and globally we need a sensible plan otherwise the lights will go out and many will return to the stone age without energy.

ENQ has every chance of coming good with a decent update and next set of results despite EPL, plus buybacks or shareholders returns will peak punters interest which should provide some upwards pressure.

We are drifting with uncertainty. Ideally we need an additional update, news on a deal or M&A activity or simply a positive update on the transformer and production issues i.e. shut down works completed, production levels returned to normal, spares sourced, insurances paid out and importantly annual production forecast remains the same or better. We are at a POO of $76.65 and yet the sp has dropped - drifting in news vacuum.

Tigar, you have just raised my blood pressure by reminding me!!!

Disappointed ENQ is not doing better today with Brent above $76 and we are still heading down. I need at least 27p to pay for the heat pump!

Chiro, an uneducated two years ago, I would have agreed with you, BUT not now. Putting aside the arguments for going GREEN, there is a point when forcing people to do things is wrong, when the GREEN manufactures and contractors are operating in cartels, the technology is not as efficient or GREEN as the mythology portrays and if your average middle class has a finite budget for their circumstances (for which they have worked for), and 69k of house improvements, perhaps sends their kid to a sub standard school and a totally different direction for both the individual and country. At certain points, if someone dumped a 69k bill on me, my hole house of cards would have come down and I would be claiming benefits. Your sentiments are right, but the middle class will not be a middle class for long as they increasingly pay for government and GREEN failings. I tried putting a heat pump system in but discovered with two phone calls that the contractor and manufacturer had a cartel style agreement and on the second call, I discovered that I could buy the same equipment 54% cheaper from Travis P. The result is I put a thicker jumper on which solves the problem, why should I be forced to spend 69k in order to take the jumper off! We need a proper plan covering technology, implementation and cost over a given time scale.

Anyhow, hopefully an improved ENQ sp will pay the bills!

Kraken - do you have any numbers re October liabilities?

At 31st March 2023, ENQ had cash and finance available of US$276m, surely this and any free cash generated should be more than enough? Is it not true that some current EPL liabilities are not payable to 2024?

EPL estimate down from £41.6bn to £26bn............but then take off £4bn for NS O&G's loss of MCap, then take off a few million times five years for lost CGT/Income Tax form dividends and traded shares, and O&G share losses traded against other gains (I certainly saved myself a bundle 1/3 of tax bill by selling ENQ at a loss in last tax year). Take off a few more million for the accelerated reduction in production times 5 years. Take a few more million off for borrowing as revenues decline to HMRC. Take off a few more millions for making investment in NS O&G univestable and the UK an uncertain and insecure place to invest. Add in a political incompetence, insane economics and declining economy and accelerated reduction in GDP, thanks to now declining £30bn p.a. NS contribution etc. etc.

Hopefully, you all get my point, when you weight up the financial pros and cons of EPL, how much will the government gain by 2028 and how much will investors lose and what will be the fallout beyond EPL, even if it is not extended.

If I were an international business, would I invest in the UK? No.

As an individual, does leaving the UK cross my mind - regularly? Yes

Do I feel as financially secure as I did say two years ago? No!

Let's hope ENQ pulls a rabbit out the hat that recovers the sp.

Anyone got any views on how things will roll in Russia and the likely impact on POO?

Unprecedented times and there are many issues and concerns but with respect to this BB, I am only interested in ENQ's prospects as a result of this turmoil and impact on the markets including the POO. Will Oil rise with the prospect of Russian supplies being interrupted or will they fall as the prospect of regime change and the Ukraine war ending abruptly or will POO rise with the prospect of reconstruction spurring economies?

Any views will be received with interest.

VCB2 - you did not make a mistake, you were mugged by Sunak and Hunty, a pair of steaming idiots that are basically destroying a viable industry. I can't bare looking at the ENQ sp..........................shocking!

Sorry, just realised that Labour are going to use convict labour to be more competitive - 12months contract and a pardon............