Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
We should be going up by 0.2p a week on debt reduction alone - consistently! Plus we should also be going up as the balance sheet is de-risked on top of the 0.2p a week. As de-risking and debt reduction continues the sp should also re-rate to reflect a multiple of the FCF.
If this continues and apparently based on negative sentiment, then the stock market is broken and we'll all be better off investing in a vegetable patch.
Rom - I am now busy working out how many feet I am above sea level and have I got enough fuel in store for a decade long Winter.
The ENQ sp is also perplexing me, whilst it is currently heading in the right direction, upward trend in place, I fear we are now being day traded on the basis that repetitive small profits can be grabbed with the probability being heavily in favour of a long term rise.
Talking of long term rises, talk about 2024 POO seems more bullish and Brent is now nudging $84, hopefully we'll end on a high note this week. Currently, dreaming about AB pulling a fast one and grabbing a few buybacks to wake up the market to ENQ potential, but we may have to wait till the end of March or even June for that wish to come true.
Krak, I am not sure the results will be much different to the update. However, the presentation on the way forward and shareholder return may be a shot in the arm for the ENQ sp.
BTF - it beats me. The market should have valued the net debt reduction to December @ 4p and the Bressay money and debt reduction to now at approaching 4p.
ENQ is valued a little more than it was at the beginning of December, on the above we should be at 20p now based on the factual update and probable figures to the end of February.
It will be interesting to see if the market ever catches up with the fair value of ENQ, even when it is debt free and generating cash/profit. I think there will always be a lag, even with a takeover bid and the only thing that will really shift the price is a surprise increase in production and or $100+ dollars a barrel. The way Putin is going at the moment, the chances of a $100 POO may be just around the corner.
The rise in Brent on top of today's update should give us a Blue day tomorrow, a few more director buys and a couple of decent re-rating would also help.
Buffet is apparently shifting his portfolio towards oil and away from tech, unfortunately I don't think he has spotted undervalued ENQ.
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!