Member Info for AIMOilking

Don't forget that whatever the sp there is an underlying 1.3p roughly per month upward pressure due to increased net asset values, even with EPL. How does this figure in your TA view?

As net debt reduces so does perceived and actual investor risk, how does this figure in your TA view?

Kraken, 1p a month increased net asset value - 30p by Christmas.........42p following Christmas.........., just taking a lot longer than we would have liked thanks to the government and EPL. However, that time scale could shorten with a decent increase in POO.

Stevo, I stand corrected, the red mist of EPL has obscured my MK1 eyeballs recently.

Other concerns stand.

Something has gone badly wrong when a major oiler like Shell openly announcing it is considering a move to the US because oilers in the US typically get a higher valuation than companies in the UK and Europe. Well, everyone on this board could tell the UK government a thing or two about achieving a higher valuation for oilers - removing EPL for starters!!!!

Perhaps all the other major and minor oilers should announce similar things along with potential job losses, loss of expertise, loss of energy security, loss of investment, reduced balance of payments, lost GDP, lost standing of the City, lost financial services, lost secure and politically stable haven for cash....................... OMG this is a depressing post!

8%+ up on purchase price and last post, looks like patience caught the bottom of the curve.

I said I would be back sub 45p, well, earlier today I took the plunge and averaged down. It is regrettable but there are three things that prompted the decision, Russian/Ukraine situation will continue to impact the market, PMG is significantly undervalued and sooner or later the UK government will modify their EPL policy which is killing the UK O&G industry, jobs, world leading businesses and UK energy security whilst of course medium term increasing emissions as oil and gas will be transported from around the world and from less environmentally aware companies and countries.

Disappointing to see the down grading of ENQ sp targets, but hang on a second, the targets at 35p are still almost double the current price! I know that it is not the 60p we all hoped for around now, but reestablishing 35p in short order whilst we waiting for ENQ's preferred route to return value to shareholders would be most welcome would make me very happy having bought a few more.

I was just looking at the $ v's £ exchange rate at about 1.2 at the moment, significantly below the average for the last year or even the last six months. This weakening of the dollar could a silver lining for ENQ, if we assume oil revenue is in dollars and a significant amount of cost is in pounds. The underlying business is doing fine, EPL is a pain and in the short term I am afraid it is the POO that is going to dictate sp.

Bar one thing, this is pretty much what I expected, the trouble is the one thing is net debt which simply has not come down as much as expected, this has been seized upon as the keystone of this update and the sp has fallen. If I were AB, I would seriously consider taking this private given the MCap and percentage he already controls. Otherwise, I would see him buying more stock. The problem is that an EPL installment has been paid in the last three months that has taken the wind out of the sails of ENQ. We are becalmed until we receive a better update and the BoD is free to institute a buy back programme.

It is a waiting game - a depressingly slow game where I will be carrying a paper loss for a while, but I did add a few for a small average down as once the dust has settled from this update, hopefully the market will see a well run company which is delivering operationally and is dramatically undervalued. I also hope that the results in March will show an up tick in net debt reduction and of course POO wil probably rise.

Dumbly - remarkably sensible and coherent argument, it is a shame the politicians will not understand it until the damage to UK O&G is irreversible.

Send a copy to the Chancellor, Energy Secretary and Defence Secretaries etc, then in five years time you can say I told you so..............

Where is the update, surely it has to be this week.....

I am hoping that the significantly strengthened balance sheet as a result of substantially reduced debt will result in a re-rating of the sp. I am also hoping that the tone will be upbeat rather than neutral or down beat because of EPL.

I left the rural darkside today and went for an adventure in to the smog of civilisation, as I pootled past rural petrol stations with Diesel prices consistently low with the lowest being 163.9p , my draw dropped at BP on the M5 - 195.9p!!!! How can they justify this profiteering . You cannot tell me that at a high volume station that a 60 litre fill costs £19.20p more per car in overheads than some rural low volume station miles from anywhere. Disgusted!

BP has done ENQ and all the other smaller O&G's no favours at all as "we" have been lumped in with the giants - I would say unjustly so. Not happy about this at all, just hoping the ENQ update lives up to my expectations, POO can stay where it is, even though higher prices would be a benefit to ENQ, but equally people suffering and high inflation are not good news at all. The government needs to put a floor price on EPL soon, so that investors can both see a return and speculate on the future of O&G.

I suggest that we all get on O&G social media and BB's and encourage people to write into the new Energy Security Minister, if there is critical mass perhaps we might get a price floor, probably not at a level we would like but best chance is when POO/Gas price is low. The lower the current price the less the government's liabilities and balance deficit, if POO rises etc., the greedier the government will get and the louder the chorus against O&G. Write to the minister, chancellor and local MP..............

Sp back to 7th January 2022 level............and.............how many hundreds of million dollars in debt has been repaid since then?

A flatlined sp whilst net asset growth has been spectacular does not make sense all the while ENQ is generating more annual cash than its MCap.

Roll on this update - it had better be good!

I would have thought that ENQ would have issued a RNS on the back of settling what BP owes ENQ, if £26m has been paid that is equivalent to 6.5% of ENQ's current MCap in cash which has an impact on net asset value/debt (obviously the degree will depend on whether the amount was fully or partially written off and how much BP has actually paid). Whilst the actual amount might be confidential, surely the settlement of such a large debt is good news and worthy of letting shareholders know or is this event behind the delay in the update, so that AB can provide an upbeat update that shows a better debt position than expected when combined with cost reductions and reduced investment expenditure? Any delay in the update also means the update will be correspondingly better as cash is accumulating by the day. I have a feeling that this update will be ahead of expectations and will also clear the air with respect to EPL, the longer it is delayed the better it will be.

Having said the above - hurry up!

If BP have settled in full that is equivalent to a 1.38p cash improvement. It will be interesting to know if this debt was carried or written off and whether the sp reacts on Monday. Brent hovering around $80 which is O.K. but after the recent fall and the Chinese economy winding up, I think we'll see a rise in Brent and ENQ this week. We are getting ever closer to getting some real figures in the expected up date, although year end is in March. If the sp stays low, I have a feeling AB will be back to buy more shares, but I assume that with an update and results in the near term, ENQ must be in a close period.

So, no update today (last year 3/2/22), so it looks like mid February as another poster suggested. On the other side, a two week delay should add another £15m in debt reduction to the figures provided - can't wait to see what they are and the impact of EPL so far. Is the delay associated with some other event or news?

Will AB announce or update us on investor returns?

Onedb - I would want to see it but your point about switching index is a good one, that would surely send a message if NS oilers started switching index. The City is already nervous about loosing out to Europe.....

Not a good day it seems the Government and Labour are teaming up to bash ENQ shareholders!

Last year the update was on 3 February, and this year that is a Friday, so hopefully we will have news in 10 days time.

Let us hope this update has good news and possibly some clarity on EPL, combined with a revised net debt figure which might translate to a better MCap reflecting net assets of company and cash generative position.

Stevo, your efforts to help the less tax savvy is appreciated.

One question sprung to mind, does the Malaysian production get clobbered for EPL as well?

Thank you