Member Info for epiphany121

Thanks for the update, KO.

The EU will be stupid to do that as UK is one of their biggest trading partners and I believe they're not self-harming idiots like Trump is. We'll have Brexit and we'll co-exist with the EU with the same tariff levels that we have now (zilch) - that is my belief. In the meantime, I have another prayer that the Eurozone doesn't disintegrate in the next couple of years,, bringing POO down and ruining my ENQ investment. After all of us get out in the �1.50 levels, the Eurozone can do what it wants to, and I can't be bothered too much. ;-)

And my long term worry is that this is exactly the sort of protectionism that we saw in the US, after the great depression of the 1930s, when the geniuses in the US Congress/Senate (Smoot-Hawley) thought Tariffs were the way to counter cheaper imports of high quality imports, and promote their local manufacturing industries. Economists know what a disaster that was and prolonged the great depression for a lot more years, when counter-tariffs were imposed by the US' trading partners, resulting in a drop in global trade and economic stagnation globally. This is what happens when numb-skulls like Trump are elected to the highest positions of power, and the US is undoubtedly the highest one that there is. His constant bashing of pillars of democracy (free press, votes), along with his love of despots and populism, reminds me of yet another unsavoury character that truly arose out of the ashes of the Great Depression - Adolf H. Thankfully, there are a lot more checks and balances in the US government, for Trump to do damage of a significant scale, but whatever he can do, can almost certainly negatively impact growth and by consequence, POO.

And in the meantime, the idiot in white house is threatening more trade wars with the EU, including a 25% tariffs on luxury cars, and this is a start. Tariffs should be formally announced on Steel and Aluminium products from the EU. What a jackass, playing to his supporters. Let's see how this idiocy plays out over the next few months/couple of years, before he's due for re-election. All the fiscal stimulus through his tax cuts do stand to be negated by this ill-advised stand on tariffs, impacting global growth, particularly if the counter-party (EU and everyone else) retaliates. And why wouldn't they?

Yes, indeed Chilts. I predict a small draw in the EIA numbers, purely in line with the past few weeks' patterns of a huge build, followed by a draw the next week. :-) BTW - Bremt has now gone positive on the day, whilst WTI is down 1%. The Brent-WTI spread is now over $10 a barrel. Crikey, who would've thought? The idiotic drillers in the Permian better slow their drilling ASAP or this differential will only increase.

Yep, agree. I'm not getting baited by this pup's barking anymore. Lol..;-)

All - Brent closed up 3% at around 77.70 for the day. Long end of the Brent curve till 2022 has also moved up a dollar or so today. Looks good for us..

What...A sob story to make us want to like you, eh? Not having that, Laddie... What did you say yesterday - it'll never hit 35p this week and your trading genius instinct predicted this and that ENQ was shi**e. The market is bigger than your pocket money can move it for a second, let alone a whole week. Pi*s off with your predictions now.

Hydradown - bought 5 shares today, eh? how did you afford those with your 2p a day pocket money - sounds like a load of dogs *******s to me..

MO, If you look up the 2017 Annual Report, you'll see that these are swaps, i.e. this is ceiling price. We should have circa $40 million derivative loss that'll show up in the HY P&L (assuming a $8 derivative loss per barrel), against the gross realised sales. There was no new hedging done since April and so, AB/JS are letting the additional barrels run at market prices. When I compare ENQ's hedging programme (7.5 million barrels out of circa 21 million - that's about 35% hedged), that's not substantial at all. I know of many US drillers who've hedged circa 70 - 80% of 2018 produce at the $50-55 WTI level and I own shares in a few of those. When I compare ENQ to those drillers, we're in great shape. Best

I'll help you with that, Hydradown. Kneel down, pray for 5 minutes, look up and then you'll see the real deal Hydraids.

Squiffy - I did say after the RNS that there will need to be another cycle of positive news before there is a 're-rating' by the market. There were a few bad updates in the past couple of years and the last update on 24/5 was a good change in 'repairing' some of the damage. You and I could on squabbling about timing of cash flows and how they could affect cash balances at a point in time early in the year, but we don't have a ful picture at this time. We'll have to give ENQ a couple of more positive new cycles, such as the actual commissioning of Kraken and steady oil flows even at circa 40k BOPD and a positive HY update in September. OF course, we'll need the POO to co-operate as well. I'm not holding my breath every single day as to why this is under-performing the likes of PMO. But, reality is that we're trading under book value at this time and this will go up as POO stays at or goes up from these levels. Fundamentals will eventually catch-up with the SP. I know you've been negative about AB and I get that you have your reasons, but equally, he's at least kept this company afloat through the hedging programme in 2015/2016, even though in 2013/2014, he was insisting on little to no hedging, and has managed to steer the completion of Kraken under budget. I'm still optimistic about the tone of the last RNS and the positives in it, and I look forward to a day next year when we'll be 100% up from these levels. Best

Hydradown - Is your screen still OK then? How are you able to type if your screen's broken? Why don't you go and suck on your thumb for a while and things will be OK.

Yes, I know. There's a X-201 flying saucer on the standby to retrieve the oil from Catcher at a short notice. And from what I hear, it's powered by your gas, SK.

I was hoping that Hydra will provide his insights, OfficeManager; Not you. I'm 100% positive they will be as brilliant as his trading.

Why is it not good?

What's the reason?

Look no further than Italy and Idiot Trump's plans to go ahead with China tariffs by publishing a list of products. Trade war fears gave the US markets and the Brent price another leg down.

Hydra opinions and trading skills are as good as a monkey's - even a monkey with a keyboard will be right 10% of the time.

30K BOPD - where did you get this information from and what's the basis of this?