We would love to hear your thoughts about our site and services, please take our survey here.
All, for 3 weeks I've been trying to get some kind of clarity from SIPP provider. Got an EVRAZ holding within the SIPP wrapper, and AEGON seem completely negligent to the termination notice. Today I found out that the broker is Winterflood Securities - whom I've emailed. AEGON have apparently not even reached out to them. No reply yet, but getting close to deadlines. As I understand it within the SIPP only electronic shares is an option, due to tax implications? Is this correct. And electronic shares, only a viable option if the broker ie in this case Winterflood will set up a nominee account? Does this forum have and advice and can share insights. Fear I'm about to loose my holdings... Many thanks
correct link
https://s3.tradingview.com/snapshots/t/TJ1lQjxG.png
Hi All,
Looking in once in a while in the forum, not posting actively any longer. See many known names from Sweden Placera forum have found their way here. Makes me glad!. Been mostly occupied with other markets (predominantly crypto over the last 12 months). Albeit Enquest is still an investment, a long term one. I've been topping up during 2020/21 expecting the accumulation pattern to fulfill. We see a clear accumulation pattern over the last 6-7 years!
Rise in Brent will likely be a strong trigger, as suggested, enter phase D in the Wyckoff pattern and rally further. see link below. Several technical triggers in this pattern for a strong continuation. Would like to see and increase in volumes and a steady rise in Brent coupled with positive market updates from Enquest.
GLA
https://www.tradingview.com/chart/zcbvKk2U/
All, haven’t been active for some time on the forum. Checking in from time to time. I’m still in, took the opportunity to top up here today as well as bought in on PMO and a few more Scandinavian oilies.
Saudi going to war will eventually either reduce high cost producers; cause fractions and instability in the Middle East: both are bullish scenarios. Oil at these levels since 2003 have never been for the long term. 2008/9 - 3 months; 2016 - 2 months. Quick shake out and gradual increase back to $55+ before year end is what I expect. Good luck all. Will try to be a bit more active and contribute going forward. In time’s of these we need to stay in touch! Take care
True, there has always been a growth story communicated, CAGR boepd produced, as YoY increase and projections for the future. Looking forward to a re-rate and seeing 100p again. First time investing in ENQ for me was 2013. Been in and out, and always following close.
gkb47 - initiated a similar comparison some time ago, which I’ve not yet completed. Interestingly EV/EBITDA multiples are close to a 1/10 relation to avr. oil (WTI) for Europe O&G (multiples from Damodaran’s pages a http://pages.stern.nyu.edu/~adamodar/). And fairly consistent over time.
Conducting a time series analysis over ENQ 2012-2018 it seems, with a few exceptions, that January average SP trades relative to 4.7 to EV/EBITDA. Debt levels and EBITDA from previous year’s annual report.
2019 EV/EBITDA O&G (production) multiple is 5.85 for Europe. Would 1) expect similar ratio in 2020 given oil recovers. Avr WTI 2019 end May was $57.09 and 2) ENQ to be valued at at least 3-4X EBITDA. My modelling is not yet adjusted for debt risk, future oil price outlook, OIP, WTI/Brent discount, other unknowns. Given the fluctuations over time and observation ENQ has historically been valued at 4,7X I’m surprised to the market’s lack of appreciation and recognition. I’m buying more - this is an undervalued asset. A Moody upgrade soon will certainly help.
Another observation: low points in Jul 2016 and Aug 2017 was followed by c. 120 days of accumulation before >100% gains. Similar to what can be observed now from mid March. Patterns grave a tendency to repeat themselves. Mid July can be interesting....
As romaron like to cite: build it and they will come
e - correct never made it. Was close by in Holborn though. Must admit the reaction this morning made me a bit upset. Many, many thanks all for the feedback from the event. I’m still invested, heavily, and will be topping up here and in PMO following today’s oil debacle. Can’t see what, apart from global market unrest, triggering this...
romaron - true. As long as the register is up to date, and including swedish shareholders, it should be easy to evidence that I'm both a holder and proof I am who I claim to be. I have less interest in voting, but wish to see the board f2f.
Can a friendly sole advice what I have to do to attend the AGM tomorrow. Was not supposed to be in the country. Swedish shareholder (Avanza KF) - so how do I evidence I am a holder, or will my details be in the Company Registar in UK also? Thanks for your guidance here
I’ll endevour to make an updated valuation over the weekend. Believe we are looking at 60-80p given the 2019 outlook. I do wonder however, if an overall market recession is in its shaping: what would be the consequence for oil and overall investment sentiment in O&G? Supposedly it’s not a prolonged recession per say but a major correction that the TA knowledgable crowd is hypothesising. Could create a very good buying opportunity. We shall see.
full details - have not done the maths, but in my view it should sum up to 'Total
commercial petroleum inventories....' given weekly changes
http://ir.eia.gov/wpsr/overview.pdf
done, think you got a few fellow countrymen also requesting the links...
Anyhow the numpty trumpty backlash yesterday provided a good opportunity to top up [which I missed..]. High level market manipulation. Added some ENQ and 20k PMO last week Friday.... Still expect Brent at $70.5-71.5 during March/April. A level that has acted as support/resistance during 2018 and presenting a fairly open target with less resistance, Also MA200 daily is trailing around 70+. Bullish oil. GLA