Member Info for AIMOilking

Sekforde, good post, confirms my own rather depressed thinking but still adequately demonstrates ENQ is undervalued. We are in a waiting game now with timescales unfortunately creeping to the right and assuming you are right about production, the only thing that will really move that timescale is the POO. I think we will see some M&A activity as ENQ keep mentioning it and AB is not buying shares, the question is whether this will impact our timescales and which way?

"JP Morgan Bets Big On Carbon Removal" Oilprice article seems to support ENQ's direction on this front.

Nice quip Poker, still like to know what your bigger picture is?......... I suppose sarcasm is easier.

You are right it is not a very pc/woke name, perhaps I will change it. Perhaps when the government removes or changes its EPL Windfall tax which is killing the small O&G UK independents. We all know we'll need oil to transition, but how ridiculous to destroy our UK O&G industry whilst increasing the carbon footprint of the oil we do use through importation. Unless the EPL policy is removed or changed the government will very soon have a £30bn balance of trade hole, more people out of work, little energy security, oh yes and reduced tax income to fund renewables.

Let's draw a line under this string and return to LGEN issues.

SD235, I assume you are trying to be sarcastic but in answer to your comment, I have recently invested in and operate a licenced hydro electric system that powers all my hot water and reduces my dependency on oil and electricity, further investment could conceivably make me 100% self sufficient as long as the water supply does not dry up with climate change. This is just one thing that justifies my statement which you quoted. I could go on but this is a LGEN board.

OPEC wants higher prices and I think we'll see this in H2.

Good update and I expect some news on M&A soon.

I don't understand the "31st MarchApril" debt date, I would have expected the update to be 30th April or 23rd May, unless it has got worse before it is going to get better. Whilst net debt is not where I hoped, net asset value should have improved.

I assume activity on M&A in the works hence no AB purchases of ENQ and as for return to shareholders, buybacks could start after the AGM at any time assuming finance covenants allow and I believe this will be the initial route for shareholder return.

Poker, please enlighten me.................

If it is that we need to do more to save the planet, I know and as an individual I am doing my individual level best to cut my carbon footprint and waste despite all the nonsense going on from silly politically motivated decisions to war etc etc.

HOWEVER, oversold and now buying opportunity........

What is about everyone trying to be Green? Whilst laudable sentiments, people attempting to gain Green credentials who don't have relevant experience are just P***ing away shareholder assets. Green providers make money through over inflated offerings, LGEN would have been better off donating some funds to demonstrate Green credentials, you will see that Credit Suisse will make money, but their new parent UBS is not investing!? How can the morons managing LGEN invest in a product 250m and wipe double off the MCap of LGEN, especially in a market which already has the jitters. Seriously miffed to wake up to this news and there is a lot I could have done with lost investment and I have returned to an overall loss on LGEN - well done idiots.

We are due and it has been confirmed that there will be an update this week, I was hoping it would be today, same day as last year. Anyway, hopefully something to look forward to..........

I understand the concept of carbon capture but not the economics. Can anyone explain how much value there is this business and for example, how much is capturing a tonne of CO2 worth? What are the likely costs of sequestering a tonne of CO2? Is this a risky business? What is the level of investment required to achieve sequestering 10mt and when will this business generate revenue? Thank you.

Let's hope PMG does better tomorrow?

I was advised today that huge areas of timber have been clear felled and mulched for the construction of wind turbines, apparently, if you have a deep layer of mulch it kills or reduces the wildlife, which means there are no bird of prey to crash into the turbine blades! I was also told that where the operators received grants to reforest, for a decade it was not specified where they spent these grants, so companies spent the grants in Eastern Europe and places like Lithuania. Then of course we have EPL................................................. I am speechless...........

ENQ has confirmed an operational update next week. From the horses mouth!

Should be interesting, I can't wait to see the net debt situation and production figures.

Last year there was an update on 23rd May which was a Monday, this year it is a Tuesday, so hopefully, we'll get an update at the beginning of next week. With debt being reduced, it may underpin or even give the sp a little boost.

Could it be that the Conservatives, knowing may well loose the next election are actually setting Labour up for a monumental failure, and given the calibre of the Labour front bench (probably worse than the current lot if that is possible), their total lack of experience, they will fall right proverbially into it, whilst spending money we don't have and stoking inflation to the point that we are all very equal i.e. very poor and seeking benefits. Personally, I am hoping that a resurgence in the ENQ sp will keep me from joining the queue at the soup kitchen.

As I have said before, I am scrutinizing and avoiding capital spend and contractors I am talking to have noticed work is harder to get, my favourite coffee shops have taken different strategies to cope with reduced footfall, one is closing part of the week and the other is now opening seven days a week. Cafes are a good barometer of the direction of the economy, and when people just order a drink and no cake/lunch, things are getting tight. Following the latest interest rise and as fixed mortgages start ending, it is really going to bit for home owners, you can turn the heating off but not the mortgage or food bills.

General sentiment seems be turning again on POO, most think that reduced capacity will result in an increase in price short to medium term with a lack of investment ensuring higher long term prices, it is now a race between declining production and depth economic recession. However, as long as we see POO above current levels, slowly slowly ENQ will recover its sp.

You are right Krak, but sentiment may ease as reality dawns and people are basically greedy and the ENQ value will overcome investor reticence.

You are right Krak, but sentiment may ease as reality dawns and people are basically greedy and the ENQ value will overcome investor reticence.

If a 30p buy out was announced today, with a high degree of disappointment I would take it, purely as I don't like running at a loss and I would make an adequate return on my investment. HOWEVER, as each day goes by I would fully expect any offer price to increase simply based on ENQ's increasing net value and with reducing debt, the de-risking of ENQ and the increasing ability to manoeuvre whether refinancing debt or taking opportunities as they present themselves. The fact is the sp will start recovering in a few weeks or very few months time when the buybacks begin. So 30p this morning, 31p on June 1st, 32.5p July 1st plus buybacks as and when etc.

The penny seems to be dropping but unfortunately Hunty is not the brightest spark, he saw an opportunity to square the books for the remainder of his tenure as Chancellor and even through the next election and he grabbed it with both hands. He lacks the intelligence and wit to realise what he has done, but fortunately the message that we and others are now bombarding the government with is starting to get through, reporters are starting to write sensible articles and politicians with any sense are realising the seriousness of the situation as the NS dream goes down the drain - there is always a time lag with governments, they are like oil tankers and take time to turn.

ENQ is sitting pretty with tax losses, it is also a sitting duck at these MCap levels, If I were HBR, I would take ENQ out, so if I were Linda Cook, I would pay off the Chairmen of HBR & ENQ or try and keep them as well paid non execs, make myself Chairperson of the combined group and AB CEO to keep him sweet. The cost of ENQ would be lost in an immediate saving of 1bn in taxes, even if HBR paid double the current ENQ sp, it would be less than £600m, leaving £400m effectively to pay ENQ's debt off. So HBR would get all ENQ's assets and free cash flow for £0 and ENQ shareholders would either take a slice of the new larger company or cash in and move on with a sigh of relief. It would firmly place the enlarged HBR in the FTSE, whilst making lots of noise about slimming down and job losses and investing overseas. Plus institutional investors would not be able to resist a debt free company with continued buybacks and dividends, so the sp would fly. Personally I would walk away with a disappointing 26%, but I would not grumble as it would beat inflation for the time I have held ENQ, I would probably sit back and enjoy a first class cabin on the SS HBR.

I admit that I need the help of someone clever than I:

Given recent news, can anyone have a crack at a target date for the fabled 0.5 target ratio, the point when buybacks and dividends can begin?

At the end of 2022 debt was $717 and O.7 and by February it was $624m, we are now two and half months on with production at the higher end of expectations so far and the announcement of an additional 4126bd equivalent will increase EBITA and accelerate timeline to 0.5.

Can anyone calculate current ratio and a target date for 0.5, it may now be closer than we thought?