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Doyle, totally agree - an announcement is needed and a bit disappointed with this morning small rise, I was hoping we would see 10% at least, perhaps later today, if the news confirms a longer or open ended switch off by the Russians. However, decent rise on a falling market.

The Russians have turned off the gas pipe to Germany. Gas was down today but what will Monday bring for the price of gas and PMG's sp?

You are probably right about the shorters but they will get burnt on GPA news - with any luck.

I can't see why they would refinance at this point, they don't need the money. Unless, ENQ's improving balance sheet de-risks finance and they can achieve a much better rate and reduce costs.

Quote from annual report "The increase in oil prices in the first quarter of 2022 relating to the Russia-Ukraine conflict is a result of conditions that arose after the
balance sheet date. As such, the Group’s future oil price assumptions used in impairment tests to assess the recoverable amount of
assets at the balance sheet date have not been adjusted.
A net impairment reversal was recognised in 2021. See note 10 for further information.
The price assumptions used in 2020 were $47.0/bbl (2021), $55.0/bbl (2022), $60.0/bbl (2023) and $60.0/bbl real thereafter, inflated at 2.0% per annum from 2024."

So cash generation and profit should be much greater than expected as long as production levels are comparable with Last year.

Just based on last year's performance, the shares should be climbing around 2p per month based on profit generation.

Added again this afternoon as an update on cash generation and debt reduction should hopefully be enough to raise the sp.
DYOR

I agree with Mansardman, we need a robust presentation with some good nuggets of news relating to production, projects, revenue, debt repayment, otherwise we'll drift along but perhaps with a slight upward trend. Otherwise, it is the news of a takeover that will shift the sp, say 60% premium on today's sp. I believe that we will get to at least 48p, it is just a question as to whether it is next week or 18 months time, either way would be perfectly satisfactory.

Added again today - medium term 48p target with upside from there dependent on POO, production and or take over.

While you lot have been jabbering, I picked up more ENQ in todays' dip - simples!

Gas is up this evening with the Russians turning the tap off for 3 days, Germany has already turned the hot water off in public buildings. The question at the moment is whether it will be 3 days or weeks? The uncertainty as we run into winter will keep prices high for years until renewables or nuclear improve European energy security.

Expecting PMG price to rally a little tomorrow.

Even if POO drops $10, or even $20, the price is likely to be equal or greater than the average price ENQ currently receives due to hedging, which will have governed the price used for the ENQ business case and forecasts.

So, if ENQ can maintain production and the hedges end, there has to be an upside. If POO stays at current levels or higher the potential upside for ENQ is considerable, which in turn will generate cash which will decimate the current debt which by the way is perfectly well managed and manageable.

The fact is the ENQ is undervalued for the assets it holds, the production it has and the cash it is generating. So either there will be re-rate or ENQ will be taken out, just like MCRO which I have been selling on recent news and increasing my ENQ holding, if the sp does not move upwards by a factor of two or three, ENQ will be taken out sooner than later. DYOR

After my post yesterday and mulling things over the weekend, no brainer, added 45% more ENQ already today, even some after writing this post - before posting.

I may be wrong, but there are a number of things here that tell me there is a major upside:

Low Market Cap for assets, revenues and cash generation, plus cash in bank - probably more than half MCap.

There is debt but this is potentially manageable in months not years.

AB has bought a load - either because ENQ is under valued with good prospects or he is expecting a take-over at some point soon.

Chances of takeover high given POO and general economic and political situation against low ENQ Market Cap, if you had cash why wouldn't you buy production and assets that are clearly undervalued.

Balance sheet will be transformed in 12-24 months.

A significant amount of ENQ production hedged below current market rates, so if POO stays higher than $60-70, there is margin for higher profits and cash flow as hedging ends or as production increases.

Production may be above expectation and ENQ is not a one trick pony in terms of assets.

The big guns reckon Oil and gas will remain high for years and the government will want hydrocarbon security and increased influence in Europe with any spare production.

The simple fact is whoever purchased ENQ at the current MCap, the integration of the ENQ operation would be low and the pay back period, even including debt would be relatively quick - no brainer.

The more I look onto ENQ, the more I believe this share will fly, added again today.

Added on this morning's dip, positive news on GPA will be transformational and the general consensus is that oil and gas prices will remain high for some time, even if Putin does a U turn or is removed.

Thanks for your post, I had forgotten ENQ's Nordic listing and almost 4% up today, that bodes well for tomorrow with oil up and supporting that rise, should be a good start tom the trading week for ENQ. I see the JP Morgan target being hit fairly soon (42p) and if not ENQ will be swallowed up in a take over, perhaps that is why AB is grabbing all the shares he can. However, the increasing cash pile and or decreasing debt make this sp look cheap.

Should be an interesting start to the week for PMG.

Thanks for the link albeit old news now and hopefully it will not be long before we hear some more positive GPA news.

What I don't understand is the current PMG sp. Given 109m shares and say £30m in cash, that leaves 41p or £44m for all other assets. In the old days, a million barrels of proven reserves was worth say £2m in value, so GPA should be worth £110m as a prospect. So PMG looks significantly undervalued and that is using very basic back of the fag packet calculations..........!

Given the accumulation of cash, the previously risked 164p valuation also looks low as time passes.

I suspect the GPA play may bring out a hostile bid, although TC is in a strong position to frustrate such a bid given his holding and a some remaining loyal supporters.

CR888 - sorry you are wrong - MCRO has exceeded a sp of 550p within the last two years. 532p is cheap and a second or third bidder is not beyond the realms of possibilities, 6-700p would be a better reflection of value at this time.

Just watch the counter of the number of trades going through - mesmerising!

Looks like they listened to my Tuesday post - whilst this is the best day ever for me - still think the sp is undervalued and now that MCRO is in play, perhaps we'll see another bidder come forward? Some decent results and confirmation of revenue growth would still be helpful in this situation.

I am afraid that MCRO is very much unloved at the moment, trades and volumes are down and long terms happy to sit tight on dividend income. Day trades and cash has shifted to some of the energy stocks, but as soon as we get some decent news on revenue growth, asset sale or take over, MCRO will be demand again.

Had a very quick look at a gas price graph versus PMG sp, there seems to be a time lag with PMG, so hopefully the sp will go up in the next few days as it it is currently behind the gas curve. DYOR.