Member Info for hitman1a

We should have ended with a UT above 23p today given Brent is now $87.94

Try for 24p tomorrow.

Looking for a 23.25p UT today

If they are going to drill and hook up Bentley and Bressay to Kraken FPSO in 2024, then sure.. a new bond would be useful to pay for the capex and sea-bed drill centres and modifications to the Kraken FPSO.. if Bumi know how to do it.. But if it's a 2025 and 2026 project, given I thought we were drilling the Kraken Western Front in 2024, then it looks like a new Bond isn't needed yet imv. I'd rather have a 5 yr , $1b RBL facility.. and pay interest on what you use..

I still think we won't need a new bond by Oct 2023.. We should be close to net debt zero by then... and a simple overdraft facility would suffice..

25p , but when.. I had thought end of March.. based on actual cash earned.

Too many unknowns at the moment to give 30p plus today.. but that is where we should be.. Our early Feb update should be a mixture of emotions. ( ah..oh, s.hit..wow)

We could see that 1p gain today . Brent looks good

Your wasting your time thinking about this.. I asked at the 2018 AGM. I think they vote annually to say $50m of shares can be bought each year, but aren't allowed to as there are existing restrictions related to the bonds and perhaps the RBLs in place that prevent it..

It's a bit like saying they should have bought the bond debt in the market when it was trading at 50%..

All they can do is focus on paying down debt and keeping production as high as possible.

AB already said if they looked at other assets, it would be on a no cash upfront basis, just expertise.

Thought last year we had an acquisition announced at the same time as the operations update in Feb. Doubt it will happen this time round, but if the FPSO fits, then you might as well announce the deal.

Still looking solid.. 21.70p

We are in the process of experiencing a 10p swing.. from the lows of 17s prior to Xmas.. back to 27.4p at the time of GE completion.. I personally think 27.4p in late April.. but Brent is very healthy so the timelines can change. And it looks like Omicron will be a smaller hurdle than previously thought.. People will aim to return back to normal sooner than expected too.

34p in late September.

Looking forward to a party near number 10 later in the year..

They had a 30p to 39p target range , midpoint 34.5p

Guessing they have now revised it to 28p to 37p , midpoint 32.5p. 32p is still very good considering we are only at 21p .

Looks solid .. 25p Target end of March 2022.
A lot of people won't even come in until it's safe to do so..

Billion $ upside to equity doesn't go away just because some investors are nervous.

Plus Bentley and Bressay would be connected to Kraken FPSO, so the mathematics and economics are different. So long as you avoid the front end big capex like a new FPSO, then both fields would be low cost add-ons. The field sizes are still very big.

Kamrat used $75 in his cals.. got at least $500m FCF.. Since Brent is near $85, another $10 per barrel adds about $190m extra FCF to 2022 FCF, if we say 53k average production.. Think we are near to banking $60m/mth.. Net debt zero by end of Sep 2023.

Also I have just put half a bottle of Sentinal X200 into the boiler system.. which now seems quieter even after just 5mins.. a quick fix to reduce "noises" .... information that I'm quite happy to share with any Kraken or Magnus boiler engineers who may be experiencing similar issues.

Nice oil prices, but if this was a court hearing and I was a Judge, I would look at Enquest's past record and wouldn't give it the benefit of the doubt, .. so bail is denied.. but it retains the right to appeal after the next operations update.

SP : sideways..

Good point.. same SP as 6 mths ago.. ie: we missed our production and profit forecast for 2H 2021 .

Try again over the next 6mths.. (25p end of March, 30p end of June). ...... Google needs evidence.

Billion $ upside to equity..

GL.
PS: Don't sweat the small stuff.

Billion $ upside

Barclays estimate 39p so I'm surprised to see predictions above this .

I'm not expecting the oil super commodies cycle to start until mid 2023 even though we can see some smaller Opec+ countries already struggling.

Based on my deepest thoughts last year, I'm still predicting 39p Y/E 2022 if all goes well . ie: 5p increase /Qtr.. If we are at 25p by the end of March , I will know we are on track.

1 Billion $ upside to equity this year.. sounds strange but we do have $3b in losses to use up now we don't have any projects to complete/finance.

In terms of new 2022 Magnus wells this year.. I believe the info already released indicated about 1,250 boped each.. these are short pay back wells , so I think will help keep Magnus at 15k average total production boepd for 2022. IF Enquest say in the forthcoming operations update we are at a higher level, then that will be good news.

From the 30th July RNS
"Please note that John Winterman's total shareholding is 21,123. It has been previously misstated as 28,571."

Add 200k to above , he should now have 221,123.

Somewhere along the line his holding disclosure got messed up.