Member Info for epiphany121

The reality though is that unlike the Chinese, he stands for an election in 14 months, and should a recession ensue, and i'm now more and more convinced that it would over the next 6 to 9 months in the absence of any de-escalation, then Numpty is as good as gone. He's not quite the Houdini or the whizz that he thinks he is. He's a petulant little child, self-admittedly with the power of being the Chosen One (lol..)

Only OPEC can save Brent now and even they may not have the ammunition to do so.

Cheers, Beerbull. Then that deserves a viewing. He doesn't quite realise how bad his moronic actions could get for the global economy. And for our portfolio too. Sigh!!!

The american idiots voted him in - let's hope they get him next year before he damages all the relationships/foundations forged over the past many decades.

Right on cue. Increased tariff %s announced on Numpty's twitter.

Who knows what China does on Monday. Yuan devaluation is first on the cards. ;-) Wall Street - Good luck.

Yes, true. Tariffs on those consumer goods postponed to December may be brought forward. Or additional tariff %s may be imposed. Who knows - hope for the best!!!

Dol03 - I haven't seen that particular one by Moore. I may have seen the one on Columbine.

Chilts - thankfully Monday is no-trading day in the UK and things 'may' settle down over the weekend.

GLA...Here's hoping for a quiet weekend and Monday.

Nice spot, Dol03.

Watching the painful red on the DOW/S&P on CNBC.. And the buffoon cracks a joke on twitter as to why Dow's off a lot today

Thanks, MO. I've not been tracking these stats on a monthly, but they do add to the bearish tilt in the oil market. I'm not sure if the EIQ publish Williston belt data, but they'll be struggling badly with prices at these levels. They're faced with high price differentials as they have pipeline issues that's constraining production. Maybe they'll cancel each other out.. ;-) Can always hope.

WLL/OAS were 2 decent sized producers in that belt in ND and both are down huge in the last year, and a lot in the last 3 months. FCF - forget it. If this trade war escalates, the idiot is only killing off these producers that supposedly would the US energy independent.

Beerbull - here's an article on why buff isn't after all the oil messiah that the industry think he is. It's all because he's ignoring the non-supply side of the equation.

https://www.bloomberg.com/opinion/articles/2019-08-23/china-s-tariffs-show-why-trump-isn-t-energy-s-friend

About the most bullish in a while. 16 oil rigs down in today's report and they're now at 754, down from 860 last year this time. Permian off 7, Niobrara (DJ basin of Colorado) is off 5.

Carnage yet again in the shale patch SPs today. No wonder that rigs are being pulled back. And with these moves, production growth projections from the EIA may just be a pipe-dream.

If only the master relents....

L3 - if anyone holds a share from 2016, then they qualify at LTH. Obviously, I don't know if you're a LTH and saying I'm an LTH on anonymous forums doesn't mean much; I'd be sceptical unless I've met them. ;-)

I saw a post from you regarding Zama. With oil caught up in the Orange man's crossfire, who knows if they'll even get a bid. I saw a sell-side bank had assigned a value of $440 million for that stake. It'll boil down to what happens with the trade war.

MO, Pelle,

Orange is the new everything, don't you know? I'm eternally grateful to my master, the orange buffoon, and henceforth that's the only colour I'm ever going to talk about..

Florida is where the master has a lot of properties. If golf is about the only thing I can do in that hallowed land, I'm game. Alligators or not - here I come Florida. ;-)

Hello L7 - "Dig a little deeper. Note 6, Finance charges, has a $55.8m component 'Finance charges payable under finance leases'.
These finance charges are ADDED to 'cash generated from operations' note 28."

The finance charges aren't added to cash from operations; in note 28 they're captured under the change in liabilities from financing activities. That is more a reflection of changes to the Finance leases under liabilities itself, which is fine. However, the finance charges of $55.8 are NOT added back to the cash flow statement, under either of the operating or financial headers.

"Cash generated from operations is the first line of the 'cash flow statement'. The $144.8m component, 'Repayment of obligations under finance leases' is DEDUCTED." - again, the 144 mill is only shown in the cash flow from financing activities section and not anywhere in the operating cash flows section.

Best

Lol..yes Pelle. Always winning - yeah, baby..I'm getting more orange every day. yeah. ;-)

Nice one, MO. Cheers. Yes, Alma workovers was $30 mill last year and they did book it in Opex. I'd also agree ditto for Scolty/Crathes - not sure what the opex would be, but maybe there or thereabouts.

L7/L3 - "You say, 'I Believe that the $600M OPEX includes the part of the lease that does not correspond to interest. ' I'm inclined to agree. As I said, I think ENQ put out that number as simple all inclusive OpEx guidance. "

Short answer is NO, the $600 mill opex guidance doesn't include the Finance lease costs. The Opex guidance only includes actual operating expenses and in so far as AK is concerned, that figure only covers non-lease operating costs for AK - such as fuel, ENQ's labour costs, transportation, etc.

I do take L3's point that the lease was a $144 mill cash out flow in financing cash flows in 2018. I haven't quite squared up how Enquest pays $115 mill in 2019 - one explanation is a reduction of rates/claw backs?

Tariffs on US imports. 10% on US crude and poof goes that market for the Shalers. And is an escalation from the Chinese. Risk assets selling off. US crude down a bit more than Brent, but both down a lot.

Winning...as defined by Donny!!! Well, the shorts are, I suppose.

Heardy - my post may have come out all wrong. Apologies, no offence intended. :-)

Well, recession fears in the US are back and that's taking oil with it. Manufacturing PMIs are showing the first contraction in 10 years.

https://www.cnbc.com/2019/08/22/manufacturing-sector-contracts-for-the-first-time-in-nearly-a-decade-according-to-ihs-markit.html

What a beautiful mess the buffoon has got the world into. Trade wars are easy to win...oh yeah!!!

Yes, this is what winning looks like, no doubt. Here's the link.

https://www.cnbc.com/2019/08/22/manufacturing-sector-contracts-for-the-first-time-in-nearly-a-decade-according-to-ihs-markit.html

Heardy - I may not know too many companies, but the orange man should be help. Just make sure that you brown nose him big time, a la Farage, and you'll have your answer!!! ;-)

ENQ tracks Brent price more than the FTSE movements. Brent dropped about a percent after US flash PMI came in below trend, with the Manufacturing PMI dipping into contraction territory and Services PMI just over 50.

No thanks to the buffoon...