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Hi Jan,
Hope you and your good lady had a great birthday.
As for our new troll, showing true colours today and just spouting rubbish.......the pound looking strong he says!, it’s on its arse at its 52w low, yes it should get stronger when B is sorted but jeez talk about scraping the bottom of the troll barrel, the comment about new lows here and pi’s losing money was the icing on the cake.
Yep in the cage, suggest nobody visits for a while (filter) as it will be the honeymoon period for him and the monkey!.
Have a good day everyone..........AB is no fool, follow the money.
Yeah someone else just flagged that elsewhere, so thanks Pelle and gkb, sorry about that, had missed the bit about the EBT, doh.
Carry on! Lol.
DD
It’s probably me but today’s holding RNS doesn’t add up.
From the 7th Sept RNS
“Double A Limited, a company beneficially owned by the extended family of Amjad Bseisu, and trustees of the EnQuest EBT, which together currently own 154,769,489 Ordinary Shares, representing approximately 13.0% of the issued ordinary share capital of the Company, have irrevocably undertaken to take up their entitlement to New Ordinary Shares in full”.
So post RI Double A would still hold c 13%. Today’s RNS does not give any previous holding just the purchase of 9%. Has Doubke A got two separate registrations?..........confused!.
DD
Morning chilting,
Yep China GDP bang on predictions of 6.6%. Have to take a pragmatic view IMO, 6.6% is still amazing when you consider the US is about 3%-3.5% and the UK 2%-2.5%. Believe to hit their target by 2020 the Chinese GDP has to be 6%-6.5%, so on target.
Onwards and upwards.
DD
Morning Chilting,
Do think a drop in China GDP is already baked in, just depends how big a drop. If less than 6% then it won’t be a good day. Pundits reckon 6.6% so will have to see.
What could be of greater impact to ENQ is Cairns update on Tuesday - given the non existent news flow from ENQ there may be some interesting news on Kraken.
Have a good day.
DD
PS Wall Street have tomorrow off, Martin Luther King day, so China GDP news (good or bad) may have a double day impact.
Jeez lots of doom and gloom on here lately, even Chilts repeating concerns about the loads..........of the IC are saying sell then that’s a positive, it’s not known as Chronic Investor for nothing, the biggest buy signal going.....along with the muppet analysts.
Cheer up lads, value will win in the end.
Hi Pelle
Believe so. Not a subscriber to the Times but this article has more detail and also a link to an earlier article.
https://www.energyvoice.com/oilandgas/north-sea/190646/premier-oil-plots-fundraiser-for-chevron-north-sea-swoop-report-says/
DD
Hope AB hasn’t been shopping in the January sales!.......then again.
https://www.thetimes.co.uk/article/premier-oil-led-by-tony-durrant-in-cash-call-for-north-sea-fields-dtlq55bd9
DD
Hi Matt, wouldn’t disagree. My only gripe is they basically buy back every day no matter what the share price. Buying when this was at it’s all time highs, like any share purchase, is not the best way to maximise returns. Perhaps they do try and buy more when there are dips compared to peaks I don’t know I haven’t looked at the buybacks in detail. Have no firm view on buybacks one way or another really although there are some that contend that AHT could be reducing debt a bit more and increasing dividends, but it’s horses for courses IMO.
Sorry you’ve lost me Pelle.
Thought ENQ joint brokers were JPMorgan Cazenove and Stifel Nicolaus.Europe.
DD
Barclays no doubt did their analysis before Xmas break with poo looking like pants, personally don’t give a monkeys (oops) what analysts forecast, they cannot accurately predict anything especially poo.....not so long ago Macquarie had this with a target price of 7p ffs, says it all.
Why doesn’t the house broker issue a note with target price 60p, we can invite him to the party lol.
Chill
DD
That’s Itsa
Hi Matt
I do question them buying back shares at all time highs though and they should be buying proportionally more now when the share price IMO is undervalued. Lord Wolfson (Next) is regarded as the pioneer of maximising buybacks (see link) and I do wonder if AHT are following his rules, especially making sure that the equivalent rate of return is greater than any other investment opportunity (acquisitions etc). That said I believe a lot of US investors like buybacks more than those in the UK so that may also be a reason here.
http://www.hollandadvisors.co.uk/cms/resources/lord-wolfsons-wisdom-on-share-buybacks.pdf
DD
Thanks Krak, hats off to you for sticking with your conviction here..........unlike some that just keep crying, moaning and slagging off AB and the company.
Has been a roller coaster but value will out in the end.
DD
Thanks Fernan, would still like to see you post up what you think fair value is here! :)
Krak - If I’m wrong will always admit it. That’s yourself and Fernan released from the cage as misjudged you both, sorry. That said I’m usually a good judge of people so the remaining 27 trolls can stay put. Iffy Squiffy has now married AB’s monkey, both LSE and oiluser were maid of honour’s.....was quite a site, brought tears to my eyes (or was that what the monkey said!).
Big thanks to guys on here who do know a helluva lot more than myself when going through the finances.
Sincere apologies to Fernan, I completely misjudged your agenda here (please don’t just focus on negatives though! Lol).
The NAV 37p from RBC Numpty is still not correct as excludes Magnus, 53p is more like it, Her 15p target is about as accurate as she can get when throwing darts into a dart board, complete idiot.
DD
Well done Jan.
Net asset value alone excluding Magnus ($500m) is 35p. AB Bought £295k's worth late Nov at 23.3p and this RBC muppet reckons its only worth 15p with ridiculous numbers used.....crazy, how do these people get away with it!.
DD
Is 20% of K still up for sale I wonder.......$400m nice safety margin.
Yep Happy New Year everyone.
Good health for 2019.