Member Info for AIMOilking

We are still at plus $95 dollars and way above the $79 average achieved in the last reporting period.

ENQ has paid of significant debt and refinanced, so the balance sheet is in the best shape for a while with debt being paid down by 10's millions a month.

Sp below that of the end of July, since then perhaps 100m+ of debt paid down, equivalent to 20-25% of market cap.

I predict we are heading towards 35p short term, it would be nice if it was this week and could be if the EPL situation is clarified. It is about time we stopped flat-lining and hopefully start an upward trend which medium term trends exponentially.

By Friday at least 30p, anyone agree / disagree?

If the EPL taxes profit without taking into account accumulated losses, it is fundamentally unfair and is effectively government intervention into the running of a Public Limited Company or private business. It would be a retrospective tax on a business plan that was set years ago. I have some sympathy with taxing excessive profiteering after costs and losses are taken into account but remember the market sets the price unless the UK government has plans to nationalise the O&G industry! My worry is the UK companies will move off shore and invest off shore if the EPL is too punitive, simply because they will not be competitive if heavily taxed.

It also appears that the government egged on by some including the media are being greedy, after all, these excessive profits are being taxed, then again through VAT, again at the pump and personal tax on dividends and CGT etc.

It would be interesting to know exactly how much tax is paid on a gallon of petrol from Shell in the UK ...........Corporation Tax...Fuel Tax....VAT.....personal tax..........

Actually surprised that there is not a little more buying pressure and volume today, I assume the RNS was a given. I hope that AB's/ENQ's PR machine is pumping on all cylinders and perhaps it is time AB briefed a few analysts.

This confirmatory RNS is good news and hopefully will peak the interest of investors, peaked my interest and I added another lump of shares today. Brent slightly up today at $93.72, so on this basis we should see 30p pretty soon and I trust a lot more in short order.

I hope he is keeping quiet because there is imminent news, but I suspect he may have got his knuckles wrapped for his communications fiasco around his last trip and perhaps realised that it made him look a little naive thinking that he would get a wodge of cash in such a short time - these things take time - months at best.

Added almost 15% to my holding today, which I am pleased to say was a profitable move with a 26p finish.

It would be nice if AB could wind up the PR machine with some decent news - a continued good progress report would help along with POO at $90 or above, anything above $80 is O.K. with me.

Yes panicing a bit as I hit break even but just added again for good measure - I certainly did not see the 25's being revisited again. Large oilers or hedge funds should be sniffing around the likes of ENQ and PMG to hoover up assets for nothing.

25.96p - this getting ridiculous!

With the high level of free cash and profit being generated, the ENQ sp should be on a steady upward trajectory which should only vary by degree with news as it comes in. With a rerating in the offing, this downward "dip" is completely unjustified. There are few companies where the the likes of AB have so much skin in the game which surely must demonstrate a high degree of confidence that ENQ's targets will be met whether that is production levels, free cash flow, debt reduction and surely he must have a better idea than we do on the direction of POO.

Topped up as well, it is just a waiting game for the next RNS and or operational update.

Brent holding around $90, but frankly not bothered, unless it falls below US$80.

Sorry - I meant No11 to No10...

Asking Jeremy Hunt a question is great sport - bunny in headlights!

Trouble is conservative string pullers want JH in No10 because he will do what he is told.

I am not a fan of JH from personal experience but after LT & KK's false start and upsetting the markets. at least JH has them to blame and then it is a short step from No10 to No11 in a couple of weeks - OMG!

But hang on a second he is good at U Turns, he paid back his MP's expenses pretty quick..........and he or his staff made the claims on his constituency "home", so he must have learnt something about numbers - excellent choice for chancellor!!

I added a couple of times recently below £0.004p and am very slightly down on holding. You have to give it to AB for two things; his ability to spin a story and his tenacity.

RRR has a portfolio of little potential gems; Elephant, Australia, Congo, Kenya, El Limon royalties, Mount Ida royalties and after all this time and all the shareholders money, his and his sidekicks salary, statistically one or two of these should come up trumps and inject a spring in the sp.

RRR is in my bottom draw - one day......

Just added in the dip and then saw the broker rating and already into profit whilst tucking RIO away for the dividend.

At this price and with this Bond news - added again today. Finance nicely managed with ENQ perfectly capable of repaying total debt by 2027, even if AB goes ahead with a moderate amount of drilling or acquisition - ENQ's finances are in good order. If Brent stays above US$80 for 18-24 months, it is a home run!

I have been adding on recent fall for the income, now approaching 9%.

Whilst the sp dropped as a result of Covid, LGEN carried on paying a dividend and proved to be a strong performer, a steady ship in rough waters. Whilst we are possibly approaching a full blown storm, the dividend will help and LGEN will be one of the first to respond once things settle down. Fundamentally, the business is in good shape, there are issues but these should be manageable. If the dividend is maintained, with time this will prove a good choice to park funds that at least compete with current inflation, even if my capital value has a few ups and downs - long term hold.

Hopefully, by 2023, the war in Ukraine will have ended and the Chinese economy will have recovered with lessened shocks from Covid. Forecasting on that basis is a little simpler but who knows.

Brent Oil is forecast to hit US$110 during Q4 and US$115 in Q1 2023.

As ENQ becomes increasingly unhedged, that is a massive increase in revenue, even if the UK government takes a slice. Debt repayment will accelerate as will the ability to refinance on relatively favourable terms.

I believe this will be a significant week for ENQ as we pass resistance points for a higher sp.

Any guesses for this week's target on Friday's close?

Thanks Robs, 194p any time soon would be seriously exciting - life changing!

Would be nice if one of the brokers put out a target?

Bull's - you are both right, I probably should have posted this on the ENQ and to be straight I do hold ENQ as well.