Member Info for epiphany121

from Merkel at least and Pound rallies. This will be another monkey off Brent's back.

https://twitter.com/TradeFloorAudio/status/1164521767504875520

Lol, Beerbull. You know how much we love the 'chosen one' on the ENQ board. ;-)

I also see no reason why Catcher needs to be divested. The current 2-pronged divestment strategy based on selling out of Zama , along with the Sea Lion farm down, is the way to go.

It's a couple of mill (2.2 mmbbls) bbls hedged for next year - that's still good.

Great numbers. An additional $100 mill debt paid down after the H1 period ended = lower interest for H2 - that's another positive. Good hedging for H2 + catcher reserves upgrade, all positive. Plus the potential Zama sale, as others noted. The operating cash flows are great.

Good luck

L3 - not civil..Hmm. Not sure if it was anything more than a poor choice of a few words, but I'll let that rest and won't labour on that topic. Inciting others, Lol..where's my pack hiding here - come on pack - it's time to squeeze L3. You can merrily give that notion a rest.

Turning to your favourite hedging topic that you bring up nearly every other time you post, you should know as a 'LTH' that ENQ was saved from 'disaster' in 2016 by their great hedging and I've pointed this out maybe a couple of times previously. All of $255 million gains were booked that year and it prevented an utter liquidity issue that would have no resulted otherwise. Hedging is a directional bet - it may or may not work out. You have other companies like Tullow who have done sweet FA when it comes to hedging. Does that make them bad - no, not from an operational execution viewpoint. Ditto for Enquest. Again, labouring on this is a symptom of 'summer slowness' and people wanting to have their opinions heard, in the absence of any real news.

Best

Lol..Pelle - that's a first coming from you. And you even engage with Squidy. No wonder many posters on here **** L3 off as a deramper - with posts like that on hedging, who can fault them. ;-)

There's been lots of posts with numbers with some numbers from a variety of posters (squid - surprise, surprise, L7, L3). I'll try and respond to those, hopefully tomorrow when I come off my travels. Brent trending OK in the past few days and that's a comfort.

GL..

Yet another bearish print from the weekly rig data. Oil rigs up 6, but still 99 less than this time last year. Harold Hamm said on the call week that the rigs are a hundred more than they need to be - who am I to disagree? About the only 'bullish' news is that the Permian is down 3 rigs.

Good weekend all..

Correct, Pelle. There will be no update before the H1 release.

Lol...Nice one, Romaron. I couldn't have put that any better if I tried ;-)

"The world keeps turning and in the scheme of things Trump is a mere blimp on history." - yes, broadly true. I guess I'm personally ****ed off that he's constantly road blocking my investment thesis and been taking me (and a whole lot of us) on a wild ride over the past months, since he decided that Trade wars are easy to win and let's screw everyone - friend or foe, we spare no one.

CHilts, IMO - only one man has the answer to your recession question and that's the orange buffoon - anyone who works out where he'll land eventually and positions trades now accordingly will make a killing. Last month's retail sales data in the US was great and that's not indicative of a recession. However, just like we saw in November/December 2018, when there's large volatility in the stock market, consumers do pull back and that's what we'll probably see this month. One month is not a trend and the outlook depends on how trade trends from here. US manufacturing has gone negative and it's easy to see why.

I feel he'll act in his self-preservation and pull back from the brink. China has little incentive in offering major concessions before Nov 2020 and we may end up seeing Trump get nothing more than a half-way house. No recession yet is still what I'm hoping for. Oil prices could easily be around the mid 60s, if the trade impasse is resolved.

Oil is behaving in line with Clinton's winning slogan to unseat George HW in 1992 - 'It's the economy, Stupid'

China counter sabre-rattling on display

https://www.forexlive.com/news/!/china-maintains-stance-that-they-will-have-to-take-countermeasures-against-us-tariffs-20190815

Oil sells off and Dow futures off their highs. We'll see who blinks first after this - it looks like they've dug it too.

Trump sucking up to Xi after a 800 point fall on the Dow today.

https://twitter.com/realDonaldTrump/status/1161774305895694336

Trade war pullback soon? That's the only way the global economy can pull back - oh to sit in the shoes of a idiot!!!

Jolly good, Gkb..always good to have a Trump non-fan on board the Enq/oil train.

My agenda is to make money in a sector I understand well, very simple. I, and other oil sector investors, are up against an adversary whose only agenda is the US at the expense of everyone else. I won't even speculate as to what your agenda is though..

GKB - you mean the same Obama that got Bin Laden, who knew, eh? And oh hey, you picked the last 2 years of his second term when the Saudis decided to pump, pump, pump to throw the shalers out of business, and voila, what happened? An oil market recession that revealed the futility of the Saudi strategy. Obviously, you had to cherry-pick those 2 years and compare that to Numpty's oil average thus far. Great comparison indeed. How about comparing the average Brent price from 2009 to 2014 and then comparing that to Numpty's average?

Brent averaged $84 during Obama's 2 terms (that's a grand 8 years from Jan 2009 to 2017) and that after hanging below 50 for a long time as the US was still in the throes of the Great Recession in 2009 and then the downturn in 2014 to 2016. And this average is much higher than during Trump's last 2 and half years. But hey let's only look at your cherry picked facts and applaud Trump's genius, shall we?

If you're an oil investor, we don't need the Americans to be oil friendly - we need quite the opposite. The rampant gas flaring nonsense in the Permian will be clamped down and that'll temper production there to more reasonable levels. You make a case for Brent being lower without sanctions on Iran and Venezuela - I can make a case for the global economy and oil doing a whole lot better without the trade wars screwing it up, what with the enormous stimulus flush from the tax cuts lifting up asset prices broadly. All of which are now shafted by his beautiful trade war with China.

The moderates in the Democratic party are way better than buffoon that the Americans currently have as president. Biden/Klobuchar/Buttigieg - get any of them into the White house, and the global economy at least has a fighting chance in 2021.

We know it's a bit of a doom and gloom day, justifiably so with the latest yield curve inversion. Good reading around the predictability of this indicator.

https://www.zerohedge.com/news/2019-08-14/2s10s-just-inverted-heres-what-happens-next

With what's happening today, the Fed will be forced to cut 50 bps in the September meeting and that'll force a relief rally. Yesterday's tariff back-down was a little head fake and only reinforced the fact that the trade war is still continuing as tariffs will go on $115 worth of goods in a couple of weeks. China won't buy anything until these tariffs come off. I hope Numpty acts in the sole best interests of ENQ holders and backs off from the trade war. ;-)

Good luck tomorrow

Inversion is the latest risk off news today. It inverted both in the UK as well as the US today - UK is less of an issue, but the US is a problem. And we're seeing Dow futures sell off with oil in Tow. The inversion has a pretty good track record of predicting a recession about 12 to 18 months out and was last triggered in 2007, before the 2008 great recession. Hence the market's taking notice today.

Maybe Numpty has more tricks up his sleeve... Sigh..