Member Info for epiphany121

Yes, we need the IRGC to do a lot more. They've been taking it a bit too easy of late. Go, IRGC - keep up the good work with Brent.

Lol..Cracking, Romaron

Numpty wants to shaft oil prices. The Iranians want to shaft Numpty and his sanctions. At least I know who needs to win this battle for my portfolio to do well!! Keep going you lot...

Cheers MO (et all). If anything's keeping Brent just about afloat, it's the good old Iranians... ;-) Lol. F**K the shalers.
Keep it going chaps..

I still don't quite see why the Brent WTI has come in quite a bit - but, every little helps.

Oil off 5 and Gas up one in the US - overall down 4. However, Permian is up 3, which isn't great.

We've had a Permian focused shaler, QEP Resources (QEP), come out with Q2 numbers and they 'suck' (to borrow a Yank expression). Stock's off 17% today. Cash from Ops of $78 mill and Drilling Capex of $167 mill. And Q2 will not be any good either considering price differentials between WTI and WTL (Permian - Circa $4) and Bakken (Circa $10). This is the problem for most of these idiots and yet they continue to drill - this is yet another fundamental issue for Brent too. I don't know if and when they'll see the light maybe another $5 to $10 down from these levels would force their hand, but this isn't good for any oil company in the long run.

The treadmill does continue for these idiots for now with no real end in sight, I'm afraid. Let's see what some of the other Shale idiots say in the coming days/weeks with their Q2 results.

Cheers, KO - that's good to know from IR. You did end up doing L3's work for him yet again? You cut him the slack too many times. ;-)

Now we just need Brent to co-operate better.. ;-)

L3 - Wrapping up my 2 week holiday and so, posting has been sporadic. It's just Kraken that'll fill ENQs coffers, but Magnus and other little ones too. It's not a one trick pony by any stretch.

L7 - my reference to IR was with L3 asking if IR would answer his/her question. L3 posts their questions to IR here on this board expecting someone else to ask on their behalf. I'm not sure why, as I don't think Ian W bites at all. He'll answer what he can or not. I was encouraging L3 to at least pose questions direct to IR and find out.

The updated deck had a slide with water cut from Kraken and you can see that drop towards the 50% mark for the past few mmbbls produced. It must be to do with DC4 and let's hope that this lasts a while yet.

GLA..the last week has been encouraging and no doubt some new shareholders have been joining the ranks - institutional, hopefully.

No doubt that 'uncertainty' fits right into your glass half empty vision, L3? ;-) Have you asked IR yet - if you don't ask, you'll never know?

Off a couple of bucks now. Numpty is talking of no regime change in Iran and voila....

Oil rigs down 4 and Gas down 2. More importantly, Permian is down 6 and Eagle Ford is down 5. They're down where it matters and even if WTI stays at around these levels, they won't be adding rigs in a hurry. The shalers are finally waking up to reality?

It was great to see an 18 million share trading day after an eternity and for the SP to close at the day's highs. Where's the resident Eeyore gone off to - wait, AB has to go now as the SP shouldn't have gone up today and he's screwed up that one too. Can AB ever do anything right?

Good weekend all

Thanks Tom and Max for sharing this top news with us. I'll ignore how the SP reacts today/next few days, but couple AK producing circa 50 kbopd with news of the trade war truce, thatll do wonders to the ENQ FCF generation machine.

This may yet only be a 2020 SP story, after the city has had a chance to assess ENQs cash generation capability. Maybe ENQ will provide us with a H1 production ops update in the coming weeks?

GLA..

A couple of more indicators out today that portrays a confused picture for oil, from an economics viewpoint.

https://twitter.com/LiveSquawk/status/1144641906124742656

US Oil demand in April was up circa 1% after a 2% fall in May.

https://www.marke****ch.com/story/chicago-pmi-falls-into-contraction-in-june-2019-06-28

Then you have the Chicago manufacturing PMI in contraction, the lowest in circa 3 years. It was solidly positive as recently as 4 months ago. US national manufacturing PMI is 50.1 - barely growing at this time. If the trade war continues any longer, we will be seeing contractions and job losses will soon follow.

This reality is what will force Numpty's hand, IMO. Markets are already rebounding today on a fed rate cut hope and Brent/WTI has stabilised too. Get the trade war out of the way and Brent will be back in the 70s soon enough. This is why my expectation for the weekend is an unwind/pause of the trade war and a further rally in risk assets on Monday - that's my base case.

GL and weekend all

Chilts - the overall economic indicators out of the US are weak at this time and Q2 GDP is tracking around the 1.5% growth range. Trump needs a deal as without it, business confidence will slip more and a recession in the next 6 to 12 months is all but guaranteed.

Worst case, there'll be another kick the can down the road with a truce, but I expect positive noises from the G20 this weekend from a trade viewpoint. Is Shale on the wane - possibly. They're the ultimate swing producers and can only really justify the kind of investments that the shale treadmill requires, if WTI is in the mid to high 60s. This fall in Brent to the low 50s in the past few weeks should've highlighted the frailty of oil price in the face of excess production, and we should see this downward direction in rigs and shale investment to continue in the coming weeks/months.

Geez - I can't see why someone is delusional and obnoxious just because they filter out someone and then they get one better and receive the Vigilante tag. Why does filtering out someone and making that public make them a vigilante? It's a personal choice - it's not like Romaron's invited his band of merry followers to do the same!!!

I'd also question the motives of a new poster (Yenz) who posted 5 or 6 'articles' with an obvious negative steer, without providing a personal steer on why these are negatives. There are many traders and weak hands on here (and other BBs), and it isn't too difficult to sow doubts in their mind. Post facts and figures, and your own assessments of why ENQ won't do well - that's more than welcome.

OK 12.8 Million bbls draw - even better. ;-).

And production has dropped another 100k on a weekly basis (3 weeks in a row now) to 12.1 mmbbls from 12.4 mmbbls 3 weeks ago.

That's great for WTI/Brent.

I scoffed at that rather delusional thought from the Jeffries Analyst !!! ;-)

Circa 10 mill draw tomorrow...it's about time ;-)

Crude -7.55mm (-2.9mm exp) - biggest draw since March

Cushing -1.26mm

Gasoline -3.17mm

Distillates +160k

Brent and WTI are reacting positively..

GL - KO. My recent trading prowess is suspect and hence I stay invested..

Evening P - We've beaten this topic to death - that hedgng didn't happen, and none of us have a ready access to a time machine. ;-)