Member Info for hitman1a

Capex addicts.. debt junkies' . hard behaviour to turn around … a bit of spare cash and they spend it. ... oh I just need this. Brent is struggling in the $58 range... so SP will struggle too.

Seems like very good news that other Board members will part with cash today.. rather than wait for IMO 2020 to kick in.

Will peeps wake up and realise that the current sp is the bargain of the year:-)
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Not really.. some amazing deals in Lidl/Aldi can beat this..

To be fair.. he's not taking much risk at 19p.. plus he will get performance based free ones.. to lower his average..

But £95k isn't a drop in the ocean.. Perhaps he could top up again over the next 6 mths to get to 5M shares.

Probably near 1.5x at year end ( debt/ebitda).. so much less risky/almost normal. (perhaps near 1x by 31 Dec 2020).. Also they don't need a 3 weeks shut down on Kraken this year so that will help the average daily production.. and of course all maintenance should be completed by Q3. that just leaves the hedging for Q4 and some decent production numbers.. the problem is the information for a re-rate won't be till next March.. I think Management can wait 6 mths to show a better return than the bonds.

and a bit more for Double A and the Charity.

Must believe the SP will go up.. but Q3 has ended with probably 1c added to equity. that's not even a 1p.
Wait and see if we get 24p by xmas eve.

Explanation.. as follows:
Realised Oil Price $66, Opex $20.. Margin $46.. As per Google : equity gets 1c per quarter.

It's still very early days.. some would say Enquest is still wounded.. The RI was only a year ago.. The benefits of all this investment are all going to reducing debt and more capex, but eventually some starts going to equity.. Given Western flank gets done in 1H 2020, i'd say that's even more capex in addition to what they pencilled in for 2H 2019.. even though they mentioned it within the bundle deal of PM8/Magnus and Kraken for 2H 2019.. So its' really March 2021 when Google sees some good numbers for equity holders . . nothing to do with AB imv. There is no conspiracy.

New holders might want to load up from 2H 2020 at higher prices, but i'd rather accumulate now knowing the price is very cheap and recovery will be slower than first envisaged due to sub $70 oil price.. but that could change very quickly with Saudi tension and IMO 2020.
GL.

Hi Spindok
eg: Google shows the following for Quarterly financials (USD) at June 2019
Revenue 407.69M
Net income 22.15M
Diluted EPS 0.01
Net profit margin 5.43%

Now I thought the headlines were better than that for 1H 2019, even though the above is quarterly.. it shows the effect of the significant exceptional items that hit the P& L. reducing the net profit to just 5.43% . I'm not sure if Google numbers are correct, but that's what has been published. It certainly would help the algos drive the SP lower to where we are today.

Think the Rights issue price at 21p is the ceiling until we get a cleaner set of Accounts next March, or a juicy operational update in early Feb 2020 with a updated net debt figure showing indications of a percentage of 2021 being prepaid in 2020 as well.

GL.

Only 1k, but that's another 5,195 shares out of circulation.

By my calculations AB normally multiplies mine by 200 and adds to his holding on his way back from Lunch.
It is Friday afterall.
GL

Fpso Producer is now under a sale and leaseback umbrella. Imv ,

One of the things that had to be done to raise cash. Thought it happened in 2016

Full year results: 24th March 2020

AGM : 21 May 2020

I agree E121, the H1 call referred to a smaller premium ...ie $1 ish, but great PR especially now it's working. Wonder if the Western Flank will lower the overall sulphur percentage, but even if similar, vindicates the decision to invest and spend more cash for a product which will be in high demand for the life of the project.

You might be right.. i'll cancel the new Skoda.. who needs two.?

Hedging at $66 helps quite a bit though to get a decent set of numbers for 2H 2019..

I guess capex in 1H 2020 will still be med/high due to extra Kraken drilling on Western Flank, but thereafter I think JS said the capex would come down quite a lot.. ie normal maintenance and the annual smaller stuff at PM8/Seligi and Magnus..

Profitable today with very low opex, which the market ignores..

We seem to have a similar debt level to Thomas Cook. Best to deleverage and forget dividends for a while. Get our ratio reduced from 1.8 to nearer 1 before considering a dividend. But its the interest rates we pay that will also determine when it happens, which will definitely be after some sort of refinance at lower interest rates.

Give it a few minutes. Market has to confirm Kraken’s excellent performance , I expect to see 22p today

GL.

I agree Heardy.. chances are the negative Algos have been turned off.. No large II adding. No shorts to close either.

Just small retail PIs picking up bits here and there.. I still want 22p by end of day.. given next load on Kraken is very near.

1p improvement / mth.. from here on for a few years will do me just fine..

It’s going to take 6 mths more to see decent results , so I might as well accumulate like AB over the next few months . kraken took about 2 years too long so the benefits are yet to be seen , we all know it’s Magnus that is saving our ass in the interim

It’s quite simple KO, think of Enquest as a bank that pays no interest , hence there aren’t any II willing to buy the equity , in fact it’s the opposite , they want more money via the last RI to keep your account open . Combined with some II reducing holdings and neglible short interest , the lack of Sp performance is down to poor track record, no one really cares about world records on horizontal drilling ,

Brent at $65, Enq should really be 22p plus right now.

Can't see how Saudi can repair in 2/ 3 weeks.. how about foundations, bespoke parts, ? , it wasn't exactly a burst pipe.