Member Info for hitman1a

Feels like we experienced a little Apache attack this morning .. and will probably continue to see many more until 2 Sep.

If Amjad does a "Frank and Mike American Pickers number" and gives us a bundle RNS on the 2nd which includes the GE deal, then that would see off the Apache once and for all.

GL.
PS: I can't see many Solicitors working during the August summer holidays.

I still believe the market cap will be over £500m once GE is signed.. 26.5p

33p sounds plausible once evidence of deleveraging makes it's way onto a RNS.

Maybe Moody's have some info on the riser fix in Malaysia. Ie extra production in Q4 2021

He asked that he kept his percentage pre and post OO the same.. ie no dilution..

The rest of us took a 5% hit, but could have bought more in the market at 21p post OO

Following these transactions, Amjad Bseisu, Double A Limited and the Amjad & Suha Bseisu Foundation collectively have shareholdings totalling 209,930,959 shares. say 11.1%

Hi L3T
Had a brief look on Suncor.. never knew they owned 29.9% of Buzzard and 40% of the Rosebank Project. Wonder if Buzzard is our next acquisition as it produces 22k/day net . Sounds like a good fit to me. . Suncor seem focused on buy backs and divs so another disposal might be on the cards. Our new RBL facility and cash in the bank might cover the cost once the Bonds have been renewed. Looking at a $700m plus price tag.

David Dickinson would be thinking it could well be worth more.. but we don't own the asset yet, so hold your horses..

24p : horse in the stable waiting for the right race with the right prize money.

GL

Simple maths says on the basis this is a reverse takeover.. the old Enquest was worth £300m.. and the new asset GE is worth more: eg £325m. So added together £625m /1,886m shares : 33p

More sophisticated people from Jefferies, Barclays and others think the same.

https://www.enquest.com/investors/shareholder-information/general-meetings

some good Q&A at the end.. even said they had hedged 1m for 2023 and used the new facility already.

Allowing for summer hols , are we looking at early or late Sep for completion of GE ?

My new ones with Barclays aren't tradeable yet. they should be but aren't.

Smaller take up than I expected

The new shares hit the market on Monday 26th July.. and a bit of a wait for the GE to complete.. so perhaps flat at 22p until September is the best I can think of... and then a jump upon completion. At somepoint in Dec 2021 or Jan 2022 we should also get a decent spike (as in past years), so let's hope it starts off from the high 20s and gets past the broker forecasts of 33p..

Goldman reported as saying the Brent $80 forecast shifted from Q3 to Q4, but still looking for $75 in Q3.

Think we will complete GE after provisional results day.. so won't see the benefits in the half year accounts, nor as a post balance sheet event..?

At 22.50p On HL, number of shares is 1695m. market cap £381m, but Google is £25m higher at £406m . anybody know why?

We should be £500m plus. (new shares 1885m) so 26.5p by completion in Sep 2021 , then trend to 33p (£625m)

If you don't take up the offer , the options will lapse.. no further action required as it's probably the default action at the moment anyway..

But please note you can take up part of the offer if you want and lapse the unwanted balance..

I've opted to take up the OO via those I hold with Barclays.. and they even give you the option to change your mind right up until the cut off date.. which for them is the 20th July..

33p is similar to Zak,Chilting etc.. achievable at somepoint between the 2021 Olympics and 2022 World Cup)

If only we had Pelle to take a penalty.

The company have said in the presentation ;
"a 20% increase in oil price adds >$150m NPV(10)" using the same small print..1,2

so adding 20% to the oil price for each of the 4 years mentioned. so 2024 becomes $72..
Say $170m plus $150m : Total $320m NPV (10) is a better estimate of the sum of our discounted future cashflows on this project.

I had thought they used $51 for all years , but found the small print.

The small print..
1. Per GCA CPR estimates and oil price assumptions of::2021: $51/bbl, 2022: $54/bbl, 2023: $57/bbl, 2024:+: $60/bbl
2. Excludes impact of contingent consideration

I would say NPV (10) : 10% discount factor is too high..so cashflow would be higher if cost of capital is 4.25%

c.$170 million NPV(10).. over lifetime (not annually) .. with oil at $51.

FCF is not NPV., ....but the NPV does improve substantially with oil at $70 plus.