Member Info for epiphany121

Lol..quality

To put this in a larger perspective, it's not just oil that's been crushed this month - you'll only need to look at earnings commentary from the large US multinationals and the chip sector. Multinationals are tied to global growth and this is where Numpty is pissing on China and companies with international business are feeling the negative effect. Import costs are higher for goods coming into the US, and this leads to a higher inflation and a stronger dollar, and higher interest rates. This is a vicious cycle that'll realistically linger till he eases up on China and improves market confidence. This lack of confidence is impacting chip demand and large chip companies are down 30% to 40%, just in the last month. Ditto for oil where large oil companies in the US and here are down by 30% to 40% as well. October 2018 is the worst month thus far, since we were in throes of the great recession in Feb 2009.

I said this last week - 'Wake me up when October ends', if only it were that easy in the face of large paper losses in our portfolio and it can get worse. I/We can only be but patient.

Good luck all...

BigN - Assuming that you're saying that I sold and looking to buy back tomorrow, you can firmly park your 'amateur analysis skills' somewhere useful. I know I can't time the market and I don't bother trading. Just because I'm pointing out the obvious reality of a late Dow sell-off and the effect it will certainly have on oil shares/shares broadly in Europe tomorrow, it doesn't take a genius to make this logical deduction does it? Geez..

CHeers, MO. I did look this afternoon on the SVT site, but there was nothing. Great job keeping tabs.

Dow and S&P have been hammered after our markets closed, and so sadly we'll see selling early morning tomorrow. Brent has dropped below 76 as well. Bloody October..

what do you see?

Iffy - more half-truths and lies from you, eh? 10,000 shares - yeah, right. If only you bother to read the RNS regarding the Director's subscription to the RI, you'll even see their holdings..

Good luck pretend 'long'...

Trade Date Action Notifier Price Currency Amount Holding
22-Oct-18 Rights Issue Trade Notifier Information for EnQuest Amjad Bseisu 21 GBX 50,264 70817677
22-Oct-18 Rights Issue Trade Notifier Information for EnQuest Jonathan Swinney 21 GBX 87,062 290210
22-Oct-18 Rights Issue Trade Notifier Information for EnQuest Jock Fyfe Lennox 21 GBX 12,380 41269
22-Oct-18 Rights Issue Trade Notifier Information for EnQuest Helmut Langanger 21 GBX 123,809 412698
22-Oct-18 Rights Issue Trade Notifier Information for EnQuest Philip Holland 21 GBX 46,428 121427
22-Oct-18 Rights Issue Trade Notifier Information for EnQuest Carl Hughes 21 GBX 8,571 28571
22-Oct-18 Rights Issue Trade Notifier Information for EnQuest John Winterman 21 GBX 8,571 28571
22-Oct-18 Rights Issue Trade Notifier Information for EnQuest Stefan Ricketts 21 GBX 45,188 45188

Talking about unwarranted SP falls during mad October, Nvidia (the graphic chip maker) has fallen from $292 to $220 on literally no news, other than because Nasdaq composite has fallen over 5% in October. That's a $43 billion market cap wipeout in 15 trading days. It's not just oilies that have been wiped clean this month, but techs are in it too.

Hang in there and be patient all - we may see more volatility over the next week.

Lol, L3. You've turned a ramper, just as KO turned into deramper - who'd have thought.

As long as people post something sensible, other than constantly saying that AB has fu**ed ENQ over, I would listen. Casting aspersions on someone just because they question say production stats or net debt reduction isn't right - those are facts. We collectively learn from each other on this board and that can never be a bad thing. ;-)

MO and Romaron - I sure am happy that he did take up the additional 5 million rights. That is certainly the equivalent of an open market purchase and a vote of confidence on where ENQ is headed in the near future.

Cheers

Afternoon Pelle - yes, your projected breakdown is indeed realistic. AK was 21.5K in H1 and getting to 25.5K in H2 and 2019 (without DC4) shouldn't be an issue. Malaysia/Alma/Magnus (25%) additional numbers are realistic and may be a bit undercooked in the case of Malaysia with the new drilling completed in early H2 - but we can go with that. Add Magnus 14K for the 75% and even if we get 3k addition from DC4, we're in the 80k range already. Knowing how conservative their past projections have been (based on previous debacles), I can only see a 70k-80k guidance range, but let's see if they can do better.

Best

Assuming all cylinders firing, ENQ can get to 80k BOEPD. Realistically, I can see them give out a projected 70k to 80k range for 2019. I'd say that the mid-point of that range should be achievable, even if AK isn't producing at the 50k bopd rate.

We'll have to take our medicine and live through this pain till the end of next week. Right now, ENQ is caught up in a broader E&P companies sell-off, and it's pretty indiscriminate. We may even get below Iffy's vaunted mkt cap value below $500 mill, which equates to a 22.6p price point. It's really painful, yes, but we may not be able to avoid it.

KO - have a one-on-one with Squif. He/she'll give you all the advise you'll ever need.

yep..sure looks like it. When the dust settles sometime over the next 10 days, ENQ may be sub 25p and Brent closer to 70, if not below. Phew...

API reported a monstrous build for last week at 9.88 million barrels, whilst there were product draws. Refineries are still in maintenance mode, resulting in these builds, whilst lack of exports to China aren't helping either. No idea where Brent goes tomorrow, but expect to see this below 75 this week.

Wisdom - 0.01% is more like 170K shares on a 1.7 billion share count.

Did you take basic maths at school, iffy? How's GBP 493 mill (today's market cap) < USD 500 mill (the NPV of 75% Magnus)? Is your second to none math skills why you're supposedly still invested in ENQ, even when you flog the CEO to death every time you open your mouth?

Just give me a 2 week notice will you, KO? I'll buy a shi*te load of puts on Brent and make merry.

Stop taking a holiday every 2 weeks then, KO.. ;-)

Jan - I've stated this before - PMO produce lots more gas than ENQ does, and that's why they get lower revenues even with higher BOEpd. Gas sales don't generate as much revenue for BOE as crude does.

IR did confirm that puts were bought for 2019 at a higher level than for H2 2018 (which was $66). They also sold calls and so effectively it's a collar arrangement. Volumes and price wasn't disclosed and I'm sure will come out in the Ops update in November.

Brent/WTI are getting pummeled today and I won't be surprised to see a break below $75 today or in the next few days. The best we can hope (and pray) for is that it holds the 70 handle. It's remarkable how quickly the sentiment has turned bearish.