Member Info for chilting

Look out for a good boost in the SP over the coming days and weeks.

It would be a very welcome break to get some of Septembers fall back ahead of any dilution - not just to reduce the number of new shares needed but more importantly to improve sentiment.

This weeks news I think gives us the opportunity to say that SM is a very strong buy and very likely to be a multibagger in a mater of months - even with dilution.

Some pretty chunky trades going through late on today - could be some of the shorts cashing out on yesterdays news.

My caution is based on the fact that Enquest have only managed 20.09k so far this year - a few days of outage and the average can fall.

But, expect the worst - anything better is a bonus.

hitman

Until AK is fixed I would say that 23k was the minimum expectation but we would be very lucky to see 30k.

But remember AK has produced at 50k - so when it is fixed.

Cairn are in a much bigger mess than Enquest - at least we just need to do a mechanical fix and hope that Brent doesn't fall.

Cairn have to wait to see if they win their case against the Indian Government - now they have to wait for the judgement - then wait for the Indian Government to maybe pay them - no time frame at all!!

A private backer is interesting-

I would speculate that is could be someone who is heavily invested in the US Agricultural Industry.

Poly4 is I think the real deal for US farming - it fits so perfectly into their requirements for a fertiliser with their high tech agricultural techniques and climatic constraints. I think that the US will be the main market for Poly4 followed by Brazil - other markets will I think be more interested in the raw polyhalite product.

I am not sure that ADM would take a direct interest in financing SM but they could certainly advise their clients to.

ADM isn't just agriculture they have a very large financial services division that includes ADM Investor Services International based in London.

https://www.admisi.com/home

The bottom line her is that Enquest have to prove that its estimates of Kraken's reserves are correct.

The only way they can do that is by fixing AK - until they do that and Cairn acknowledge that it is fixed and revise their estimates back up to Enquest's estimate we wont see a full recovery in the SP.

Pelle

Maybe the most important thing - planned maintenance on AK later in the year.

Cairn reduced their estimate of the reserves at the Kraken Field based just on current production.

It's much more likely to have been an employee from one of the financial companies involved in discussions - City gossip and all that - Scarborough is a long way from the City of London.

Norway's decision was a political one - if you look at the fine detail there is little change in their investments - the only difference being that they are withdrawing investment in oil companies that have not diversified into other industries such as renewables.

I don't think that they would be interested in SM - only 2.2% of Norway supports arable crops - unless their was some link to SM's shipping needs.

Suiris
You are able to trade your rights in the same way as when you sell shares.

Scott
The shares in a rights issue are ONLY offered to existing share holders - although when the rights start trading, they can be brought by anyone - they also fluctuate in price like shares giving an indictation of how sucessfull the rights issue is likely to be.

The great thing about a rights issue now would be that we would be buying at pre stage 2 prices and then getting the big bounce when stage 2 completes - some paper profit!!!

The good thing with a rights issue is that you can buy as much as your allocation and sell the rights to any that you cannot afford to part finance you purchase if you need too.

You can also apply for more than your allocation but you only get these if they are unsold and you don't get your money back for some time.

Fred
The last one I was involved with dragged out at least 2 months.

I think that we need to know more about the planned shutdown for AK later in the year - I guess in the spring-summer.

I do hope that Enquest and Bumi give it the full works - even if we have to endure several months of zero production.

To my mind this is the only way forward for Enquest - everything depends on AK.

We get zero benefit from the rights issue until AK is fixed.

I would say that today's announcement is very significant progress and will probably have an impact on the additional funding needed.

It would be good if the capital did come from a strategic partner - obviously - but failing that I reckon we could be looking at a rights issue for the existing shareholders - that could be very good news - especially at the start of the Issa season.

Hector
it is important to remember that Cairn are using AK's current production to work out Kraken reserves - very prudent from their point of view.

ENQ will be working hard with Bumi to improve AK's performance - planned maintenance shutdown later in the year - to unlock the full potential of Kraken's reserves - AK has actually produced at 50k for a short period in 2018 - the potential is still there.

L3
So far this year we have 20.09k - that included a forced shutdown for a few days at the beginning of January.

We don't know as yet when the maintenance shut down will be - sooner rather than later.

In the meantime - as the weather improves - I reckon we will see 25k.

https://www.google.co.uk/search?q=enquest+share+price&ie=&oe=