Member Info for AIMOilking

Below is Jeremy Hunt's email address, may I suggest that all board members write to Hunt and state that an EPL price floor is an immediate requirement to help the O&G industry manage the devastating impact of EPL. Use your own words and key arguments so that it does not look like a coordinated effort. I have already sent mine.

huntj@parliament.uk

Voice - yep an opinion by degrees.

A company that pays back debt with cash generated which greater than its now MCap - 12% return over a year is not good.

It is true that opinion is also coloured by emotion and I suppose that sitting at the bottom of an ENQ investment hole that I have dug for myself, the positive horizon is a long way from where I am now sitting. CORRECTION, Hunty alone dug the hole I am sitting in !! It is currently a very ((((deep)))) / (((deep))) / ((deep)) hole (echo is not as funny in the written word.

P.S. Yep - I have disappointing LGEN as well adding to the gloom but then I bought for dividend.

Sorry Voice of reason - could not disagree more. We don't have more FCF than we need as we still have around US$650m of debt and where is my shareholder value??

My Christmas wish is that someone will make an offer for ENQ, hopefully at a minimum 40-60% premium on the current price - I see this as the only quick fix to re-rate the ENQ sp, but of course I hope that such a bid would fail as shareholders will be watching the ENQ cash meter ticking up whilst negotiations were taking place.

Ouch, this morning hurt! It will be interesting to see if EPL eventually destroys more value than than it actually benefits the government whether it is cash, jobs or industry and people's future prospects.

O&G companies are backing off investing in NS and I can confirm that I am backing off investing in the various projects I had planned for 2023-24, which will have an impact on the local people I would have been employing............I guess anyone overly committed to ENQ will be doing the same until debt reduction and cash in the bank either means the sp rises or a hedge fund takes ENQ out for a pittance.

Hopefully we'll bounce back a little and extra patience will be required if holders are to retain their sanity into 2023.

Hats off to Cook with actions now supporting words, but unfortunately Hunty is too thick to understand the damage he has done to the O&G industry, if he doesn't balance his books he probably be back for more.

For ***'sake at least put a base line POO in the EPL equation.

Harbour has dropped out of the FTSE100 and EPL has knocked our chances of immediately being in the FTSE250, that is wilful destruction of shareholder value.

I am sorry but I believe Hunty has committed mis-appropriation with this interfering EPL tax in the affairs of a Public company and effectively theft from institutions and from private individuals investments and pensions. There is no excuse for the government targeting O&G companies in the way they have and effectively making them O&G uninvestable, the industry uncompetitive, pandering to protesting extremists and reducing investment monies available for the development of not just O&G but renewable alternatives.

Sorry, I lost my rag when I read about Harry and Meghan finding Nottingham Cottage too small, Harry was already living there as a single person, a grace and favour cottage within Kensington Palace Grounds before Meghan moved in as his girlfriend...................GRRRRRRR!@%$ Ungrateful, entitled - Hunty and Harry are on the same level in my book.

I have met Hunty on a number of occasions and I would not judge him to be of anywhere near the calibre of person to hold high office.

The article is out of date or simply wrong, as an example Bseisu consolidated interests* 215,823,042 11.44%.

One trade of almost half a million share went through yesterday afternoon and a couple of good trades have just gone through a few minutes ago. I have not analysed the trades, but I am of the impression that some larger buying trades have been going through recently. I think this has to be as a good sign and I am still hopeful that we are seeing the start of a Christmas rally which should properly get underway tomorrow or Monday as in the past around the 17th seems to be the key date for a rally. DYOR, these comments are research at an idol glance.

By the way, I have added today to help the cause.

Stop bickering and put your energy into buying more ENQ, that will help us all.

Fundamentally, we are agreed the sector is unloved but ENQ's cash generation and strengthening balance sheet will translate into a higher sp despite Hunty and his EPL.

"As part of a policy to support and finance a net-zero transition, HSBC will stop funding new oil and gas field developments and related infrastructure, the banking giant said on Wednesday."

"In an update on its energy policy, the bank said, “We will no longer provide new lending or capital markets finance for the specific purpose of projects pertaining to new oil and gas fields and related infrastructure when the primary use is in conjunction with new fields.”

You could not make it up if you wanted to but on the other hand, a cash generative ENQ will either be able to fund its own activities or someone else will want ENQ cash generating ability. I am all for going green, even spent a small fortune on doing just that. I also understand that HSBC is bowing to pressure which leaves O&G out in the cold. "They" just don't get it, however urgent it is to deal with climate change and pollution in general, it is simply not going to happen overnight, a lack of investment means higher POO and economies shift to coal whilst waiting for renewables to catch up.

Sp nicely up but there seems to be an unusually high selling pressure this morning which does not seem to make sense, unless someone is accumulating a large number of shares to be recorded later. In addition, why sell shares now, possibly for a small percentage when ENQ has probably hit the bottom of a curve.

MRC - fair comments. Thank you for answering my questions.

Added again today and made a note - must be more patient.

Even at ENQ's current MCAp it should be in the FTSE250. There 10 companies under £500m and the lowest is £303m. We would be equal to Petrofac at 247th, but when you look at the two balance sheets, ENQ might carry twice the debt but it is a no brainer, I would choose ENQ to invest in for the cash generation alone.

If the sp manages to rise a little, surely ENQ should be a candidate for inclusion in the FTSE250, a step up in the rankings maybe what ENQ needs to gain a little more attention. A sp of 26.5p equates to £500m MCap and £600m is 31.8p.

My other thought this morning, is there any asset that ENQ could sell which would not involve a huge loss in revenue but would accelerate the debt reduction?

What we need is a continuous flow of positive news, the reports are all well and good but the gap between them allows the sp to drift. As I said before ultimately, patience seems to be the key ingredient with ENQ.

Some spellings corrected!

I read a post recently suggesting that ENQ often enjoyed a Christmas Rally, accompanied by some supporting figures. My brain cell retained this nugget and this evening a took a look at the the 5 year graph and there have been a couple of really good Christmas rallies and in the last three Christmas's they have started in the week before Christmas and seem to be extending further each year into the New Year. Given today's six month low or perhaps one could say buying opportunity and this afternoon's rise. I wonder if this is the start of the Christmas Rally with Brent currently 2.73% up on the day and a number of factors aligning Oil Cap/China lifting restrictions, the beast from the North/tensions with Iran/OPEC intent on keeping prices high/EPL and question mark of scaling back of investment.............. I then looked at the 5 year graph for POO and typically there is a little rally in POO running into Christmas.

Perhaps the stars are aligning for an ENQ rally - I am feeling quite hopeful and the last three years roughly 50% over 2 months, 100% over 3m and 100% over 4m. Th difference is this time is the already delivered improvement to the balance sheet and specifically the debt ratio.

Apologies, the brain cell had the nugget lodged in it.......

I read a post recently suggesting that ENQ often enjoyed a Christmas Rally, accompanied by some supporting figures. My brain cell retained nugget and this evening a took a look at the the 5 year graph and there have been a couple of really good Christmas rallies and in the last three Christmas's they have started in the week before Christmas and seem to be extending further each year into the New Year. Given today's six month low or perhaps one could say buying opportunity and this afternoon' rise. I wonder if this is the start of the Christmas Rally with Brent currently 2.73% up on the day and a number of factors aligning Oil Cap/China lifting restrictions, the beat from the North/tensions with Iran/OPEC intent on keeping prices high/EPL and question mark of scaling back of investment.............. I then looked at the 5 year graph for POO and typically there is a little rally in POO running into Christmas.

Perhaps the stars are aligning for an ENQ rally - I am feeling quite hopeful and the last three years roughly 50% over 2 months, 100% over 3m and 100% over 4m. Th difference is this time is the delivered improvement to the balance sheet and specifically the debt ratio.

Brent up 3%..........

OPEC will want the prices higher as they need the cash to keep their economies going and their populations aspirations satisfied, plus they know the oil will not last for ever and they do not want to give it away before securing their future in some other way which requires money to invest elsewhere.

Added again today, averaging down at this price.

I simply cannot fathom why the sp has dropped to its current level - am I missing something?

Surely, given the cash generation, debt reduction, oil production & price, this company should be a raging BUY! The MCap despite EPL is still probably lower than a year's cash generation and debt reduction..............

My current conclusion is that patience is the key ingredient here and I will continue buying as the sp drops on the basis that any disaster that takes ENQ down, we'll all be worrying about other things.........

I would like to see AB buy a few more, I am sure it would reassure long term holders.

Even at this sp, AB has almost a £50m interest in ENQ, this is reassuring and whilst I am sure that even he did not expect the severity/daylight robbery of EPL, his eye will be firmly on ENQ debt reduction and returning shareholder value.

The time line has just moved a little to the right.............

I would have thought ENQ's 10's if not 100's of millions of extra tax would have bought them a seat at Hunty's little round table. Having met the guy on a number of occasions, I would be totally gobsmacked if anything constructive came out of the discussion except some monotonously repetitive and scripted platitudes. I am afraid Hunty has perpetrated an open cheque book theft from the O&G industry and all those invested in it in the broadest sense, especially without a lower POO cap on EPL tax. In addition, he has robbed future generations of investment that could have been directed towards renewable energy security in the future and lower carbon emissions or even sequestration measures to help manage future energy crisis and help mitigating against climate change. Very underwhelmed by the unprecedented mess humanity seems to self inflicting at all levels, akin to the downward spiral ENQ's sp has experienced, although having said that, at least ENQ will likely rise from the ashes...........