Member Info for epiphany121

My advise is to take a chill pill, stop worrying yourselves to death over hour to hour (even day to day) price movements and wait for the news to come in. My take is that there won't be 'real' changes to the stock sentiment until there's a couple of more positive news cycles (sign-off and H1 update) and this realistically won't happen till September. I'm sure this won't be any comfort to all the nervous and 'instant result' requiring owners. Best all though!!!

Yep, agree, chilts. I did buy some this morning in the 32.5 range. Long and strong it is..

MO. Cheers and well spotted, as usual should I add...Yes, so confirmed that it will be Amundsen Spirit then. Is that 13 days load then? And I suppose you chaps have a way to figure out the approx load volumes based on tanker capacity and draught (is it)? Please do give us a heads-up as to what you can extrapolate the load volume might be, after the load is complete. Well, I'll look to add some more tomorrow morning, if the price is still in the 32P range. :-) Best

Cheers, MO.

More like 30% down from 45 to 31.5. I get your steer though. I'm considering if I should pile into more, but I'll give it some more time to figure out where POO goes, before pressing the buy button. Against my diversification instincts, I'm too heavily invested in ENQ, and hence am giving making more investments additional thought. GLA

Brent has broken a key support levels in the 74.5 range and is probably headed down to high 60s/low 70s before any support. Unless, there's news out of the Middle East. I dread to think what'll happen to ENQ's SP with Brent in the high 60s. Oh well, the long game it is....

https://www.forexlive.com/news/!/us-said-to-have-asked-opec-for-a-1-mil-bpd-oil-output-hike-bloomberg-20180605

Fear of trade wars and it's impact on global growth is the biggest drag on POO right now, IMO. Don't get me started on the moron Trump. One hand giveth (tax breaks) and the other taketh (Tariffs = higher prices). We can't ignore the fact that the US production is another big factor. As MO pointed out, US production is up over 1million barrels from January 2018 alone, and most of this driven by Permian production. I track quite a few large Permian producers and even debt free producers like CDEV (Centennial Resources) has seen their SP fall from over $20 less than 2 weeks ago to under $16 yesterday (closed a bit higher). And this was a circa $5.5 billion MCap company then (4.3 now). They can't transport what they produce and I sure do hope the taps get turned off soon.

If production is chugging along in the 40k BOPD range at this time, then we should expect a tanker on circa day 14/15, shouldn't we? It looks like a weekend run is the most likely scenario; however, an earlier visit would be very welcome. I did spot the supply ship, FS Cygnus, a couple of days ago at the AK.

Sadly, I doubt it. It just looks weak and I hope that Brent finds support in the Low 70s. And damn US drillers actually pull back from the brink - this is not the first time that they'd have tilted the balance in the favour of excess supply!!!

Sadly, I doubt it. It just looks weak and I hope that Brent finds support in the Low 70s. And damn US drillers actually pull back from the brink - this is not the first time that they'd have tilted the balance in the favour of excess supply!!!

Heading to Catcher to reach tomorrow to start transferring a load...

KO - DId you mean to say $400 would NOT be well received? When the project cost is at $2.3 billion and 20% of that is $460 mill, I can't see how $400 mill would be well received.

Thanks for the update, Chilts. Personally, I don't see the need for a 20% farm out at this stage. Assuming that the POO stays around the $65-70 levels, Enquest will generate positive cash flow that can be used for net debt reduction. Best

Cheers, MO. I'm playing the long game too. I just hope that POO stays up for as long as possible. Hence the rhetoric about Trade from Trump doesn't help and neither does all the extra US production. I'm hoping that low price in the Permian will slow things down ASAP, and if it does happen, POO has a great chance of staying at these levels or going up a bit more. Best all...

Morning MO, I took the WI figures from your last update and hence, I'm not surprised West Don was right at 78.6%. ;-) Thanks, will note Alba, as obviously it doesn't show up Enquest's operatorship. And also the gas related additions. As you noted, Crathes took a hit from 3.4k BOEPD to 1.7K BOEPD, but Heather's new well compensated for that. Also, the smaller Goosander/grouse wells took a small hit. Alma, hopefully, can be fixed with the Q3 workover (hoping work to start next month ?). Enjoy your Ros� today. The day sure does look fine for that (or some Ros� prosecco, which I'll get to later). Best

I noted that the PPRS data for March is now available and I've pasted below. Column 1 is the March Gross production, Column is Net to Enquest (based on WI) and the last column is the Net Average WI for Jan to March 2018. Kraken gross was 11k BOPD in March, but based on the Net average BOPD till April 18 of 21431 BOPD (as per the 24th May update), we can calculate that gross production in April 18 was circa 35K BOPD. Hopefully, this rate was at least maintained maintained in May and will pick up more in June, as per the updates that KO received from the IR team. We can see that Reporting Unit Mar 2018 Mar WI WI - Jan Mar 18 ALMA 1367 889 972 BROOM 2364 1489 1639 CONRIE 144 85 72 CRATHES 1713 857 1417 DEVERON 2759 2731 2718 DON SOUTH WEST 3217 1930 1914 GADWALL 908 454 442 GALIA 368 239 259 GOOSANDER 426 213 558 GROUSE 412 206 550 HEATHER 3872 3872 2584 KRAKEN 6878 4849 14665 KRAKEN N 4169 2939 5744 MAGNUS 12549 3137 3488 MALLARD 1173 587 760 SCOLTY THISTLE 4191 4149 4470 WEST DON 1954 1536 1319 YTHAN 1459 875 938 49923 31037 44507

Thanks for all the info below, MO. You're a star. ;-)

Unlikely till 2021, I'd suggest. They need to whittle down debt in 2018 and 2019 for sure, and if enough progress is made by end of FY 2020, then we may get some in year 2021. GL

Lol...Here's hoping we don't need to wait for too long to down your tipple then..;-) MO - I remember you sending us the detail of the 1st new Magnus well, a few weeks ago. Do you have any insight into the 2nd in-progress well? Cheers