Member Info for Ammu123

Malaysian accident was in Oct and impacted production in Oct:
Average production in Malaysia in the ten months to end October 2020 was 7,115 Boepd, 15% lower than the same period in 2019. This decrease was primarily driven by a detached riser at the Seligi Alpha platform which provides gas lift and injection to the Seligi Bravo platform. This resulted in a release of gas and a subsequent fire which initiated an automatic emergency shutdown of the PM8/Seligi field. The Group's safety systems and emergency response procedures were successfully implemented, with the fire extinguished quickly and all personnel onboard mustered safely. Following an initial investigation and safety assessment, partial operations were able to be recommenced within two days, with wells flowing under natural pressures. Production is currently at c.40% of normal levels with a single compressor train operational. Remediation activities to allow production to be returned to normal levels are currently being assessed, although production is expected to remain constrained through the first half of next year.

From Septs update:
We remain confident that we will achieve our 2020 targets, with free cash flow breakeven for the full year at c.$33/Boe. We continue to target free cash flow breakeven of c.$27/Boe in 2021.

If the numbers are correct we should be able to able to pay debt due in Oct 21 from fcf and existing cash.
I am sure I’ve made an error in my calcs....

Production 53k average for 2021.
At Brent 52 - 53000 * 25 * 365 = 483m approx
At Brent 55 - 53000 * 28 * 365 = 541m approx

Clearly the fcf can’t be that good. If it’s true than we should be aiming for 35-40p if Brent averages 55.

US crude production was at 10.419mbpd in October down from 10.861mbpd (revised from 10.860mbpd) in September
EIA #oott

Tlw production 75k
Debt 2.4b
Mcap 420m

Enq production 55k
Debt 1.38b
Mcap 190m

Get the debt restructured and see sp rise!!

"The Saudi budget has a price to break even of $96/b so this is kind of their goal."
--Michael Rothman, Cornerstone Analytics
bloomberg.com/news/videos/20…
#OOTT #oilandgas #oil #WTI #CrudeOil #fintwit #OPEC #Commodities

Lot of people filtering each other but for same reasons still reply.
I’ve been filtered by many but they all tend to reply to my posts lol.
Anyways sp gone BLUEeeeeeeee

Spread is normally large for enquest early trading as if they don’t want any buyers/ traders....
Normally tend to get closer later on....

MrC, I think they are already in discussions and will update us soon. See below recent comms with IR:

“We have been having constructive discussions with our lenders and have three options available to us regarding the refinancing;

1) We extend the existing facility. We have had positive discussions with our current lenders with regards to this approach, so are confident we would be able to put an extension in place if required
2) Refinance using a new short term facility
3) Put in place a prepayment agreement, whereby we sell future production in return for cash now“

The positive for me is Amjad holds a lot of shares and so any deal would be decent for current shareholders. We might not see 50p but in 12-18 months time 30p is possible as long as Brent stay above 50 and we don’t have any operational surprises...

That would mean sp back above 30p easy...
Brent still above 51 as we speak + 7% ++ premium for Kraken oil...roughly about 55....

I love you Jan. how’s the misses ?

AJ bell idiots

Dodger you bought any or still on the sidelines ?

MrC did you bought more ?
Who do you use for trading ? AJ bell is crap for some reason can’t get a buy quote from them..

Strange share can’t get a quote for even 2500.
When they let this go watch it fly....Still got another month or so imo....

But did Mrc and Ammu bought in Z.F.G?

I don’t mind it being a down day Z.F.G.....

Laidback don’t forget Kraken oil sells for a premium of $3 to Brent.
I think after some research you guys have made me change my mind so in with 200k shares and will add another 200k shares around 11.5 region.
Good luck all we deserve this after a torrid 2020!!

Not bad ;)