Member Info for FlyingF

Badenoch to call for end to windfall tax and ban on new oil licences

Conservative leader will call for an end to the Energy Profits Levy on North Sea firms, which her party implemented in 2022.

Multi bagger ? I would agree PP , either with an early change in the EPL or on a 3/4 year view as the next election nears and a 'drill baby drill ' government comes in . In the meantime keep taking the dividends !

Are Chinese investors loading into platinum because gold is so expensive?

I did hear that was the case , on a precious metal show I follow on youtube recently. Looks like silvers about to move higher , I reckon platinum will follow . Crazy to think it was once a multiple of the gold price , I certainly dont think it will stay at present levels given continued debasement of FIAT currency.

Looks like silver is starting its run today , platinum will be next IMV !

Agreed, any things better than nothing! I averaged down earlier in the week myself , still well underwater though, a return to double figures could well be on the cards ....

GLA

Only thing that gives me any confidence is that with Mercuria only going to benefit as a shareholder and a reduction in their % in the enlarged company , the deal has to be good or it wont be done at all .

WOW ! just when you think its all over , yet another shocking twist, in terms of bad news shocks and litigation, Frontera really is the gift that keeps on giving ....

They are about to lose control of the Silver market IMV , same as the have Gold market , the Gold/Silver ratio is now so out of whack , this could be fun !!

HBR also down 9% BP down 6.5% just an over reaction to tariffs etc IMV

Business looks sound , great yield , and always the chance of a bid given the ongoing consolidation in the industry so an easy hold/add for me.

If this goes through I suppose it eases fears of a cheap private take out by Mercuria plus since they will be looking to benefit as shareholders it will benefit us all or it wont happen. Devil in the detail as always but you can see why it makes sense even if I like many would prefer a deal overseas for obvious reasons. However ,at some time in the next couple of years the market will start to look at the next GE and if Reform are still the bookies favourite these ridiculous NS valuations could change very rapidly .

GLA.

Don't upset it FFS !

Latest info re Enq debt from GROK

As of the most recent updates available to me, EnQuest, a UK-based oil and gas company operating primarily in the North Sea and Malaysia, has been actively managing and reducing its debt over the past few years. Here's a summary of its debt status based on the latest information:

- **Historical Context**: EnQuest has historically carried a significant debt burden. For instance, at the end of 2018, its net debt was approximately $1.77 billion, down from $1.9 billion the previous year. The company has consistently prioritized debt reduction, leveraging higher production and cash flow generation.

- **Recent Progress**: By mid-2022, EnQuest reduced its net debt to $880 million, supported by strong cash flow of $332 million in the first half of that year. By the end of 2022, net debt had further decreased to $717.1 million, a 41.3% reduction from $1.222 billion in 2021, driven by $518.9 million in free cash flow. Early 2023 saw net debt drop to $624.3 million as of February 28, following additional repayments.

- **Debt Refinancing and Acquisitions**: In September 2024, EnQuest secured a new $750 million senior secured borrowing base debt facility ($600 million plus $150 million for letters of credit) with a term of up to seven years. This facility was used to refinance existing debt and fund the acquisition of a 26.69% interest in the Golden Eagle assets. This move simplified its capital structure and supported strategic growth, though it likely increased gross debt temporarily before further repayments.

- **Current Outlook**: While exact figures for March 7, 2025, aren't available in my data, EnQuest's trajectory suggests continued focus on debt reduction. The 2024 refinancing extended repayment timelines, and with production expected between 42,000 and 46,000 barrels of oil equivalent per day (Boepd) in 2023, alongside hedged oil prices (e.g., $58/bbl floor for 7.9 MMbbls in 2023), cash flow generation remains a key tool for managing debt. Operating costs for 2023 were projected at $425 million, with capital and decommissioning expenditures at $160 million and $60 million, respectively, indicating disciplined financial management.

Given the current date (March 7, 2025), EnQuest’s net debt is likely lower than the $624.3 million reported in early 2023, assuming no major disruptions (e.g., oil price crashes or operational setbacks) and continued repayment efforts. However, the Golden Eagle acquisition and refinancing may have adjusted the net debt figure upward temporarily before further reductions. For the most precise status, I’d need access to EnQuest’s latest financial statements or market updates beyond my last update in April 2023 and the web data up to September 2024.

Apart from overpaying , one of the main reservations that 27% of LTH's had who voted against the Tailwind deal was the age of the Tailwind assets which would present reliability issues going forward.

Spilt milk now I know but still very annoying.

I know the industrial case/demand for platinum may not be there at the moment but looking at the gold price and many expecting it to continue to soar from here against the backdrop of failing FIAT currencies , how long before platinum is looked at the same way? After all it used to be more expensive than gold!

The retail market hasn't really caught on to the reasons behind the gold surge yet and has mainly been selling, when it does ,oh boy!

maybe at that point platinum will also benefit ? In a world looking for alternative stores of value it certainly looks cheap to me....

Thanks for letting us know.

Just a thought , If you don't hold AAIF why are you even on the site ?

Enhanced dividend policy

AAIF’s investment objective emphasises the importance of income and income growth as well as capital growth in delivering an attractive total return. In recognition of investor appetite for yield, the company’s dividend will be set at 1.5625% of its quarter-end NAV, which equates to 6.25% of NAV per year. Based on the end-December 2024 NAV of 251.39p per share and the current share price, the notional annual dividend yield would be c 7.1%.

The first enhanced dividend will be based on the end-March 2025 NAV and will be paid in May 2025. In periods when AAIF’s revenue is less than the dividend, distributions can be made from a combination of revenue and capital reserves.

Just seen on Yahoo , better than other estimates ive seen lately, for what its worth ....

I make you right MAD P , it will be the same deal that would have stopped all this madness in the first place.

That has to be the most positive thing since the Tailwind T/O ! I recently did what I said I would never do and bought some more . Now i'm also tempted to invest the divi . Looks like it could get interesting again ....