Member Info for AIMOilking

MRC - sorry wasn't clear, I meant Thursday for the budget and later for the update.

I am hoping the budget will clear up the uncertainties around EPL, so that analysts/investors can do their sums on the potential impact of the tax. I hope that the update will be extremely positive and perhaps even indicate the expected impact of this new tax. ENQ's sp is being unfairly punished because of the uncertainties and some solid financial figures should help.

Roll on Thursday and the operational update and all will be well.

I hope this is rally or indication of an imminent RNS.

There has to be a very good chance one if not the two gas wells will be commercial and of course GPA news....................

I decided that if it hit 27.5p today, I would have some more, now sitting back for the incoming operational update in a few days.

Thanks for your contributions on the questions raised. I was quite happy with my ENQ holding until I started looking at the Ithaca balance sheet, now I am wondering if I should buy more ENQ......................as I imagine that the operational update will merely confirm ENQ's trajectory with another confirmed reduction in debt and hopefully production and revenue figures holding up well.

How can Ithaca be valued at 2.5bn? (Prior to IPO top end 3.1bn)

ENQ and Ithaca are comparable companies in many ways - why the difference in valuation?

Surely, ENQ should be a radically re-rated?

ENQ would appear to be spinning off a lot more free cash?

Role on the November update which should provide an even more direct comparison, especially if ENQ's production and net POO achieved are good.

Right - since the 6th July we have seen an upward trend which adds up to a 43% increase from that date. Underpinned by the expected and confirmed news relating to re-financing and debt reduction.

This rising trend has been due to reducing debt and corresponding net asset growth, but even so the trend line is below where it should be, which means that when an update or good news comes, the trend is already spring loaded.

O.K. - ELP looms and until it is understood and battened down, it will be a drag on ENQ and the sector, but the reality is that although it might delay ENQ's net zero debt target by a few weeks, it is not going to stop what should now be a relentless upward trend. The only real risk is a collapse in POO, which realistically is not likely to happen and it would have to be catastrophic to flatline the upward trend. Hopefully, the war in Ukraine will be over soon and equally hopefully no other crazies will kick off, even then the POO is not likely to drop sufficiently to worry ENQ and its stakeholders unduly.

Simples - do the math and ENQ remains a no brainer thanks to the BoD's efforts and of course the price of POO.

I thought I would get my Christmas prediction in early, low - 35p if nothing changes and a rise in the POO and a positive up date a re-rating to 45p, an MCap around £800m - 60p+ 2023.

Your thoughts please............

Gas up 11.38% and PMG appears to be flat lining with no pulse, let's hope the spring is tightening and something is about to happen - WE NEED SOME NEWS TC!!!

Recently, I thought the world had gone bonkers and was distressed that Covid and the Ukraine war/energy crisis, Russia, China and North Korea had all moved politics away from saving the planet..............then I read that John Kerry is now warning against expanding N. Sea O&G exploration and that legal action is being considered because the government has started issuing licences....................... Pot calling the kettle black comes to mind. Yes emissions need to be cut and yes we need renewables but it will not happen over night and whether we like it or not oil and gas will be part of human survival for many years to come.............It looks like anyone with a producing licence is in luck because if there is no further exploration there is only one direction for the price of oil and that is up!

As for renewables being cheaper, what absolute tosh! O.K. once you have made a massive investment in resources and written it off, I will concede renewable energy is typically cheaper but in the short medium term at what cost - mining metals for batteries, 30years of pesticides etc to grow your log for the fire, tonnes of concrete for hydro, ridiculous and greedy pricing on heat pumps etc. On the latter, I wanted to do my bit, only to discover that after all the grants, if I amortised the cost over 7 years, I would pay an extra £3,500 a year for the privilege and financially it would never pay. We need cheaper and more efficient technology.

Don't get me wrong, we all need to take action and short term starting on an individual level is the way forward, we all waste so much, we can all do something immediately however small, whilst hopefully our leaders get their act together with a coherent strategy for the future.

The really sad thing is that fighting over resources will probably accelerate the World' demise and dwarf what anything a COP initiative can achieve.

Well, after all that I am off to darn my jumper, talk to the trees to encourage them to sequester carbon for next year's logs, grease my turbine and pick up litter that some selfish s.... has chucked out of their windows as they pass.

Hang on there is an upside, ENQ profits have paid for all the increases as a result of the energy crisis - role on the next update!!!!!!

We really need some news to materially change the sp - come on TC what's up!

Stonehage Fleming Investment Managementhave 11,177,652 shares in PMG or 10.23%. Are they holding shares on behalf of others i.e. proxy or have they bought PMG into their portfolio?

The reason that I ask is that with TC they have more than 35% of PMG, if they buy anymore I would become concerned that taking PMG private might be on the cards. The higher the sp, the less likely this would happen but given the recent valuation that suggested that PMG has a MCap of 10% of the value of its assets, this is a concern. I just hope some good news on drilling and farm ins comes pretty quickly to elevate this fear and possibility.

For my diary, can anyone update us on likely dates for news on dutch drills and GPA etc? Thank you.

It seems that these days sentiment is stronger the facts and figures!

We need news to stop this drift, although as it gets lower it does represent buying opportunities.

Marine, 13% divi not to be sniffed at and if Elon M. is sniffing around miners like Glen, the sector may do well. However. a plus 8% rise on PMG is a good day, when gas is down 10%. I am hoping that this is a signal that news is imminent.

Incidentally, the purchase of the windmills may well turn out to be a master stroke as in order for energy companies to meet their commitments, they are now paying over the retail price for renewable energy in some cases. So windy weather and higher prices could mean a mini windfall for PMG.

Personally, news of a successful drill in Holland or GPA of course is the news I am looking for which should give the sp a real boost considering some feel that the current sp represents 10% OF pmg's real value.

Damn, bought more RIO this morning as apposed to PMG, on the basis of having too many PMG already!

One assumes that whilst Brent remains high and going forward, ENQ must not only be making more on unhedged sales but I assume that any hedging will also be at a higher value. Do forget the last set of figures were based on an average POO of US$79. The amount of hedging has reduced I believe, so a good chance we could beat this figure in this half year. The question will probably be more around will ENQ hit or exceed the higher end of their production target.

Agreed and added a few today.

The link was a nice find, I owned Parkmead when it went from 1p and sold some as high as 24p, I have loaded up with PMG and hope to do something similar again - 90% undervalued makes it a multi bagger if TC can deliver for shareholders, but I do wish he would hurry up. Watching the company assets and cash increase in value whilst watching the sp fall is not much fun.

RRR's indicators are trending upwards and volume is up today, someone seems to be accumulating, hopefully one or other of the Elephant shares or Congo cash will come in soon, if not both which would give a nice lift to the sp and value of RRR.

WEll, I was expecting a nice rise this morning, so what is up with PMG today? Or should I say down with PMG!