Member Info for Ammu123

https://www.thetimes.co.uk/article/enquest-is-steadying-the-ship-in-the-north-sea-amid-yet-another-storm-v5tvfmw5n

He did say if Brent goes back to 40-50 enquest will have fantastic free cash flow.
Wow
Boom time coming for this share.
60p jan ?

https://www.thetimes.co.uk/article/enquest-is-steadying-the-ship-in-the-north-sea-amid-yet-another-storm-v5tvfmw5n

We have to prepare for the worst and hope for the best. If prices come back to $50 or $40 , which I do feel they will, we will have fantastic cash flows."

Shut down I think.
He wants to concentrate on low producing assets....

For Enquest the steps are crucial to its survival, helping it to cut costs of$300 million this year. It plans to focus on three core fields where it believes that it can cut costs to $15 a barrel this year and $12 next. “If you’d asked me when we started the company ten years ago, I thought that would have been an impossibility.” The cost-cutting should enable Enquest to generate enough cash to cover its company spending even at lower oil prices. Last year it needed $50 a barrel to break even; this year that should fall to $33 on average, requiring only $25 a barrel for the remainder of the year.

Brent was still hovering below that level when we spoke at the start of the week, but Mr Bseisu, speaking via video call from his Knightsbridge home, seemed relaxed. First, he sees prices rebounding, especially given that supply cuts such as Enquest’s will be permanent. “I think prices definitely significantly above these prices we will see again: $40s, $50s, will be on the cards in the next few years, depending on how much supply is removed off the market.”

Second, he said that Enquest had $270 million of liquidity available, which its stress tests showed would enable it to “survive at $10 a barrel for a year”.

For Enquest the steps are crucial to its survival, helping it to cut costs of$300 million this year. It plans to focus on three core fields where it believes that it can cut costs to $15 a barrel this year and $12 next. “If you’d asked me when we started the company ten years ago, I thought that would have been an impossibility.” The cost-cutting should enable Enquest to generate enough cash to cover its company spending even at lower oil prices. Last year it needed $50 a barrel to break even; this year that should fall to $33 on average, requiring only $25 a barrel for the remainder of the year.

Brent was still hovering below that level when we spoke at the start of the week, but Mr Bseisu, speaking via video call from his Knightsbridge home, seemed relaxed. First, he sees prices rebounding, especially given that supply cuts such as Enquest’s will be permanent. “I think prices definitely significantly above these prices we will see again: $40s, $50s, will be on the cards in the next few years, depending on how much supply is removed off the market.”

Second, he said that Enquest had $270 million of liquidity available, which its stress tests showed would enable it to “survive at $10 a barrel for a year”.

https://www.thetimes.co.uk/article/enquest-is-steadying-the-ship-in-the-north-sea-amid-yet-another-storm-v5tvfmw5n

What is pmo fcf for remainder of the year ?
Enquest is $25.....

Shroders buying into enquest as well.

Given the prevailing low oil price environment, we have taken decisive action to lower our cost base, targeting $190 million of operating cost savings in 2020, equating to unit operating expenses of c.$15/Boe. With these significant cost reductions, cash flow breakeven is estimated at c.$33/Boe in 2020. With realisations in the first quarter of 2020, the cash flow breakeven falls to c.$25/bbl for the remainder of the year. 2021 cash flow breakeven is now forecast at c.$27/Boe, with unit operating expense of around $12/Boe. With these significant reductions, we are well positioned to manage through a sustained low oil price environment.

So we should be making money with Brent now above 25 and looking to move towards 30.

Massive news Shroderz coming on board.

Increased holding.
Interesting......

Wow Brent

Down day

I see chilting posting on a down with subtle deramps.
Went quiet yesterday lol

Most closed red today including shell, bp and tlw so not a bad day considering Ftse was down...

Looking better

At 26 now so technically this should be making money ?

I suspect if rre had half a billion debt the mcap would be have been higher lol.
Crazy markets