Member Info for colebrooke1972

GLA

New 52 week intra day high 24.94

GLA

Breaking out!

JP Morgan upgrades to 40p mirroring Barclays Capital.

The rest will follow... if the bonds are upgraded this will fly.

https://www.google.co.uk/amp/s/www.bloomberg.com/amp/news/articles/2019-09-25/ships-set-to-burn-raw-crude-oil-to-beat-new-clean-fuel-rules

The U.K. grade that fits the bill is called Kraken — pumped from a field in the North Sea operated by EnQuest Plc. Its sulfur content is a little over the 0.5% required under new ship fuel rules, and it will only ignite at a high temperature, making it potentially good for ship fuel.

Positive Feedback

“A cargo has already been sold to a ship owner and thus we remain very optimistic regarding Kraken’s utility in this market,” says Russell Wall, a commercial and marketing manager at EnQuest. “We have received positive market feedback.”

Suspect other brokers will now initiate coverage ??

23.5p Resistance will be broken before the trading update IMHO

https://www.petroleum-economist.com/articles/politics-economics/europe-eurasia/2019/interview-cairn-energy-targets-transformative-changes

Cairn to write back Kraken reserves in Jan trading update:

"We have seen much, much better production rates," Thomson adds. "The last few weeks it has been doing over 50,000bl/d. We did what we believed was prudent. There may be the potential to write some of that back as we book things in the future."

London Reuter’s:

EnQuest raised to 'Overweight' at Barclays with a 40p Target Price

It bodes well for further upgrades from others and again this is prior to the trading update.

AB well in the money again!

This is also prior to the trading update and full year results which should command a further re-rate.

Excellent news let’s push through 30p

I can see EnQuest doubling in value before PMO

06-Jan-20 08:55:06 23.24 150,000 Buy* 34.86k O

Great post Romaron.

Incredibly Enquest remains the lowest PE ratio energy stock. Even a close to doubling would leave it on the very low side.

Apologies my error circa £730M mcap which is on par with peers with more debt!

Sentiment has changed towards EnQuest a lot of positive coverage out there in terms of top share picks etc. 24/25p could break sooner than expected which sets up a run towards 30p & 36p.

I can see EnQuest achieve 44p this year double from here which when you think about it is only circa $630M mcap.

Well bid for today... 24/25p breaks and it’s off to the races...

31-Dec-19 08:22:39 21.80 319,464 Buy* 69.64k O

Large buys going through..