Member Info for colebrooke1972

Potential Kraken farmout? Stable +50k flow rates consistent minimal water cut plenty of suitors... or has AB sold up!

I can’t imagine yesterday’s volume both in London and Stockholm was private investor led. There must be institutions buying.

FTSE All-Share biggest percentage gainer today was Enquest.

Traded volume in Sweden now over 1.8 million they are definitely driving the price!

Share traded volume in Sweden over 700k already Today yep they are driving the price alright.

Break 24/25 and it’s off to the races

‘Myra’ is a Swedish trader with over 1,250 followers and EnQuest is his top pick for 2020.

The whole of 2019 has more or less been a major consolidation for the share and I think it is now starting to approach the breakout. However, what one should know is that, while it is a play on the company, this is also to a great extent a play on precisely the oil price. Ie should the oil price ..

https://twitter.com/tradingmyran/status/1209980453182201857?s=21

Translated from Swedish by Google:

Had thought o wait until New Year's Day but choose to print it now (got mass pm about which company it is). The stock that I believe will generate good returns and which has the potential to be a winner in 2020 is Enquest. The current price per share is SEK 2.4.

53 Twitter likes the most I’ve seen her behind EnQuest!

https://twitter.com/tradingmyran/status/1209979109612371969?s=21

From back in June, Cairn on writing back Kraken reserves:

Cairn shaved off 6.8mn bl off Kraken's reserves due to lower-than-expected production levels of around 30,000bl/d due to production outages on the FPSO.

The operator, UK independent EnQuest, disagreed and issued a statement saying its reserves remained "materially unchanged". Thomson says it was a "difference of opinion" rather than a row and confirmed that efforts on improving production could reverse the impairment.

"I do not think there is a field we have been in where we have had the same numbers as our partners. It is not that big a deal. It is just a different view, a different assumption on decline rate."

"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."

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

Kraken western flank and the deeper sand geology which are analogous to the upper sands currently producing. Kraken is a giant field with decades of production ahead.

Cairn share price doing well and obviously a stakeholder in Kraken market cap now $1.1 Billion...

Share price Complete disconnect

When this breaks 24/25 It will be a nice finish otherwise ENQ still stuck in a trading range. But at least it’s moving in the right direction!

Pelle thanks for the numbers ;)

The point of my earlier post is that certain oils shares have a large following on Twatter. If we can increase the Tweet postings about EnQuest on Twatter it will help bring it to a wider investor audience.

Lots of great information posted on here by you all but it is for this board and limits the opportunity of attention from new retail investors.

I would urge those with twitter accounts to post some of their fantastic insights to the wider investor community on there.

FWIW I’ve been posting highlights from the CMD on Twitter and using the hashtag of other popular oil shares to increase exposure.

I do think this share has turned a corner and will be more attractive to investors.

It is encouraging to see some of the analysts starting to turn the corner with upgrades on EnQuest.

RBC was one of ENQ fiercest critics with the now infamous incorrect covenant breach downgrade at the beginning of the year (which they later retracted).

The fact RBC have moved to upgrade to sector perform is good news. They had a price target of 55p at the end of 2018 so I expect them to keep upgrading into next year.

The point is the most previously negative analyst has now turned positive.

Expect the others to follow.

They don’t want it moving just yet.

Half decent volume today.

80,000 bopd at $65 can’t be bad...

$600 Million mcap should be the minimum here based on FCF and EBITDA/EV.

36p for starters...

This will breakout over the next six monthsToday 19:55
Enq used to have a habit of breaking out fast and I think those days are within touching distance again.

Below 1.5 leverage is game on imho