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There is no sign of any shuttle fleet tankers being available for at least 2 or 3 days and the STS tanker has moored up, so I don't think we will see a hook up until the middle of next week at the earliest.

The scheduled 3 week shutdown was for Q3, so it seems unlikely that that has commenced, also why arrange the STS - so maybe there is a problem.

Here is the main text of Moody's periodic review -
London, 16 July 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of EnQuest plc and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. The review did not involve a rating committee. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.

This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.

Key rating considerations are summarized below.
The B2 corporate family rating of EnQuest plc ("EnQuest") reflects its robust operating track record as an efficient independent UK North Sea oil and gas company. Recently, its reserve base and production profile has been enhanced by the acquisition of the remaining 75% interest in Magnus and continuing ramp-up of the Kraken field. However, the rating also reflects the group's inherent exposure to fluctuations in oil and gas prices, the limited scale of its exploration and production (E&P) activities, which are mainly located on the U.K. Continental Shelf, with production also coming from Malaysia, and its reserve life of around 10 years on a 2P basis. This underlines the group's need to bring new resources to production in order to offset decline rates of mature fields. In this context, free cash flow should be boosted by an increase in average daily production to between 63 and 70 thousand barrels while capex is projected to be around $275 million in 2019. This should underpin the group's liquidity profile and enable it to reduce debt, which would enhance its financial flexibility to replenish reserves and sustain production in the future.

No shutdown yet but certainly a delay to load 42.

The planned STS has clearly been delayed because the receiving tanker - the Sapphira - was supposed to dock at Sullom Voe today but is currently just drifting west of Norway.

So it looks like it could still be SN when AK is ready - it seems SN rushed up to Alvheim in case they needed a hook up yesterday - GK wasn't ready to move because she has been laid up for the last month or so.

Don't forget the trades on Nex - 207 listed today with a volume of 3,149,442 shares and value of £598.39k - all listed as buys but that looks to be wrong.

SN didn't actually hook up at Alveheim so it looks like they are not ready for a hook up.

So, we will have to wait and see what happens - typical tanker tease.

SN is just approaching Alvheim and is making her final approach for a hook up.

That means that GK is more than likely Kraken bound with the STS following at Sullom Voe.

heardy
The one thing that we can be sure about is that the Americans will justify anything by saying it is in their national interest - false data is probably the least of their crimes.

With Brent down nearly $2 this is a real test for Enquest's SP after the recent revival - we can also compare our SP with PMO's who unfortunately had a trading update today - good update but very bad timing.

heardy
Maybe the balance is made up with Venezuelan oil - US busting its own sanctions for their national interest - they need the heavy oil.

So it would seem that the cash position is better than expected because of the extra revenue and lower spending - maybe enough cash for another years trading and by that time revenues may be enough to keep the company going without the need for more equity?

"Revenues for the first half of 2019 grew to £0.5 million, which reflects a 59% increase over the same period in 2018 and a 33% increase compared to the second half of 2018. First half revenues also represent 72% of revenues for the previous full year"
"Loss of £1.0 million, compared to a loss of £2.4 million for the same period in 2018 and a loss of £1.4 million for the second half of 2018. These reduced losses reflect the success of the Company's efforts to reduce the overall cost base while growing revenues.
Net cash as at 30 June 2019 was £1.5 million. Net cash as at 31 December 2018 was £2.1 million"

No definite confirmation of the shuttle tanker for load 42 but it does seem very likely that it is Stena Natalita or Grena Knutsen - especially as there is a STS scheduled for Sullom Voe.

SAPPHIRA 79,235 18 Jul 19 18:00
STS receiving vessel

No definite confirmation of the shuttle tanker for load 41 but it does seem very likely that it is Stena Natalita or Grena Knutsen - especially as there is a STS scheduled for Sullom Voe.

SAPPHIRA 79,235 18 Jul 19 18:00
STS receiving vessel

AGM later in the week - Friday I think - we might get some news from there?

No action as yet - although as Therapist has said SN could be heading our way.

Hello L3
The last load from Alma was collected 29-30th June - no idea of volumes - it was a split load with other fields on a larger shuttle tanker.

Probably the end of last weeks rise - will probably stay around 16.5p for a while - just like it did around 15p.

Yes, the shorts are back this morning - lots 0f 3000 & 5000 share auto sells.

Hello Jan - yes, an excellent start to the week.

EnQuest Plc
22.44
23.24
0.80
3.57%
23.16
23.34
1,161,509
08:11:33

Brent is moving up again at the moment after looking like it could slide on the bad Chinese numbers - WTI is back over $60.