Member Info for epiphany121

No, not Boris. Imagine a UK politician moving oil markets...Here's a temporary reason why.

https://twitter.com/ForexLive/status/1016325326727675904

Lol..indeed, Chilts.

In the meantime, NO is still proceeding at a near blistering 4Kt an hour. It's looking good for an early tomorrow morning hookup with AK..

https://www.marinetraffic.com/en/ais/home/centerx:2.6/centery:59.6/zoom:8

It's good we're getting these upgrades, but not enough IMO, to sustain an increased SP ahead of the H1 update. I did nibble on some more shares this morning, and even if it goes down over the next few days (which I won't rule out), that's OK. The (analyst) trend is your friend, my fellow ENQ investors!!! ;-)

Probably explains the volume spike today...

https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1531126306836813600.html

Cheers, Auson.

On the LSE (London Stock Exchange) page, ENQ trading volumes show up at 5.4 million at just after 9 AM.

https://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/GB00B635TG28GBGBXSSMM.html?lang=en

I'm not sure what the Beeham 500K buy you refer to is, but big trading volumes on an up day is always a massive plus.

That's now circa 3.6 million shares traded within the first hour of trading, about half the entire volume on Friday.

Maybe Inside information that ENQ is tracking well? I put my hands up and agree that information leaks and trading on non-public news is rampant and very common, in spite of the best laid plans of regulators to prevent insider trading...

We'll know more in the next weeks after the H1 update is out...

In the meantime - here's toasting in advance to an England - Belgium final on Sunday..Football's coming home...

KO - I'm a bit more pessimistic about a sustained move about $100 a barrel. We do see what the majority of the forecasters are saying about POO above $100 over the next year and it's certainly possible that we get there early next year, but that'll not only unleash demand destruction to an extent, but supply as well. Solid Permian pipeline capacity will be available starting Mid to end 2019, and those wells can be completed in a relatively short time span.

We should be glad if Brent is around the circa $80 levels, as that'll mean solid debt reduction in the next couple of years, along with providing cashflow for additional well drilling for ENQ. But, I'm resigned to fact that we'll see a spike closer to the 90s over the next few months, and the inevitable noise it'll bring out from Trumpty..

That's the kind of volume we want to see to confirm if there's genuine buying (or selling). On Friday, the down move was certainly on lower than average volume.

Auson - with a 15 minutes delay, I'm now getting about 2.4 million shares traded at 8:40 AM. Do you get real-time volumes via a subscription?

Chilts - Iran and Venezuela fixes are not likely in the short term, when Trumpty is the head honcho..And so the saga continues...

Pain, misery, impatience, lack of trust in management and financials - yes, these are the sought after qualities of the world's best investors that pick stocks to invest in. Have you considered starting a new age investment blog, Squif? I'm now assured that even Buffett won't be able to keep up with you...

KO - we shouldn't waste our time convincing Squiffy about why ENQ is good investment. Squif's only investment thesis for ENQ is POO and obviously tying themselves in knots about why SP is not reacting to POO. Leave him/her to their own misery and impatience, which I can see in abundance in their world.

I personally give a rat's a**e about what Squif thinks about the BOD. It may well have been true in the past and some of the projects have not have been as fruitful, but as MO said not every project for every O&G company is a roaring success. Even Squif's darling, PMO, has had their share of bad outcomes - Solan being a case in point.

I'll leave them to execute on the current projects/workovers/pipeline and let the tailwinds in terms of a strong POO and financials to get the SP going in the right direction. My take has always been that this needs a good H1 update and till then the SP will stay in a trading range. As you indicated, maybe you should trade with a small position KO and take profits. That'll make you less impatient dealing with SP gyrations and wait for the SP to come really good.

In the meantime, here's toasting in advance to an England victory in just over 3 hours.

Best

And I've wagered on a England Belgium Final...:-) Go Lions!!!!

KO - thanks for liaising and getting all the info from IR...We should see Navion move out on Sunday possibly, to AK..

MO - a bit too warm out here too - so, a couple of glasses of Pouilly Fume for me this evening.

Have a great weekend all.

KO - it is a given that we'll be at least close to the upper end of the 58K range by the end of the year. That was never in debate, TBH. The only question for me is to what level the production range will be upgraded to when ENQ provides H1 update. My take at this time, given they'd have visibility into AK as well as the Alma/Galia workover - we'll see the range upgraded to the 56k to 64k range.

This is my wager!!!

Both - It's a fair point given that ENQ has a bucket load of carry forward losses that can be set off against taxable income. The relationship between bottom line and market cap for ENQ has broken down a while ago though!!

Squiffy- $1 Brent up or down is worth $20M to the ENQ top line, not to the bottom line. There's a big difference between those 2 metrics.

Manifesto - not to intrude, but what did you mean by got in at 0.78? Did you buy at 78p or was this something else?

Spot on, January. ENQ will be looking at solid debt paydowns at these POO levels.

Trade tensions are to forefront again on this Friday and that is the one unknown factor that can seriously harm oil demand and POO, as a consequence (down a fair bit today). We only need to look at Copper prices and see how that's been hurt on the back of expected slower Chinese growth as a result of Numpty Trumpty's trade wars.

We'll just need to wait and watch how all of these play out in the next few days/weeks.

To the impatient longs - I did state this yesterday and to re-iterate....

"The holders will need patience. IMO, this is not going to break to new highs on the back of this upgrade. We need fundamental news regarding ops to come out and profits upgrade/debt reduction announcements to happen before this goes into the 50s.

Patience is not a virtue for many of my fellow ENQ holders, ;-) but the reality is that one day doesn't make a trend. Wait till the H1 announcements are out of the way before we see a clear path to the 50s and beyond. Can this go down tomorrow - sure, it can...And hence the need to look long term and not fret over day to day down movements till there is clarity to the market on fundamentals.."

Morning Chilts. Thanks for the reminder.

RIP..