Member Info for hitman1a

What a moment Romaron..

Still can't believe it.

You are correct E121,, they do matter,

but purposely allowing the US growth rate to stall in 2H 2019 might also be bad for drillers and frackers and could help oil prices stabilize and rise further..

So long as the Enquest business is fixed, then the magnitude of deleveraging when Brent is $70 overrides everything else imv. that's where i might be deluding myself, but i'll take the risk..

Good article ItaP.. but we need reliability and confidence in Kraken.. We do also seem imv to get some tankers that have issues.. Is the Enq business ready to deleverage today.. i would say yes.. was it last year.. no.. but we were told to expect it was.. and then many of us have been holding for years.. when we really shouldn't have done so.

New Director purchases are giving me some confidence.. in the run up to the AGM.. and increased scale of the business.

Brent is back at $70 , so nothing has really changed.. just keep on deleveraging one day at a time..

I've heard AB is a Spurs fan..

Tariffs.. so what if a baseball hat made in China but sold in the USA goes up from $20 to $30.

The whole country tips people for doing nothing.. People who can afford to pay $20, will pay $30.

Tariffs just mean less tips to go round.. but you still need a hat.

.

Did u just see that!

Rump was 28p..after 21p RI

we are massively below where we should be.. so all Director buys look very shrewd indeed.

30p plus In Q3/Q4

I heard Bugatti are making a car for him which can run on Kraken heavy oil.

I heard he went to University at 16

Might as well join Helmut..

Every little helps.. 19.76p (sub 20p) : £1K

GL.

Hi Pelle
I did ask IR if they couldn't do a share repurchase, then what could they do..?

Shortly after, AB starting buying shares.. so in effect doing the same thing..

Other Directors definitely wouldn't waste their money on additional shares.. but it's good to see a few being bought.

I still believe Enq will deleverage significantly over 2019 and 2020.. It's become clearer this is happening, albeit we were disappointed last year when they rolled over into the Oz deal.. To be honest i didn't anticipate it last year, and i don't think many at the AGM did either.. we were all told, all the issues would be sorted by June 2018..

Now the market doesn't give it the benefit of the doubt.. quite right too.. so we just wait for real audited accounts and re-assess. More patience.. enjoy the tankers.. hope the results in September are what we expect.

Wonder if it's in an ISA.?

Today's tanker has been known about for a few days and the current production rate must have been the final piece of info he needed to commit to this purchase.. otherwise why do it.. ?

I don't mind clutching at straws.. in times like these..

87302

20p ..

Definitely went to Specsavers.

At this rate ,we are going to run out of debt

lol

Things point to:

1. A statement at the AGM showing much improved FPSO uptime and daily production.. production rates near original FDP plateau..

2. The half tanker could be a Cairn offload.. We know they have separate sales department..

Looks good apart from SP.. which should sort itself out over 18 mths.

That's a good point KO.. if they operate with $1b debt going forward, that means they will refinance the bonds in 2023.. so what do they do with the cashflow that accumulates ?

eg: $1,774m less $1b, $774m.. if this , fresh 2019 capex and the trade creditors gets paid off so it's the same as trade debtors.. then they would just accumulate a lot of cash from mid 2021 .. what do you do with it..? That gives you a lot of fire power to make another acquisition that fuels growth and earnings.

I'm just hoping my questions don't make me look like a doughnut, but I'm really interested in how much the balance sheet is improving on a monthly basis..

EG: The total equity improved from $760m to $983m over 2018..$222m yr (average $18.557m / mth)

What's the monthly average for 2019 so far ?
(based on the monthly management accounts over the the first 4 months)
Is it in the $40m to $45m range.?

Still above $70.. and SP sub 20p..

Guess the market will only re-rate this after a few sets of 6 monthly accounts.

I've requested a few sandwiches at the AGM.// as there were far too many biscuits at last year's.

I believe the US stockpiles will help SAUDI convince others including Russia that the agreement should be extended for another 6 months. Within this framework, Saudi will tweak here and there to provide stability so the 3 mth forward curve remains above $70. It doesn't need to worry about the time periods beyond the supply contracts its signing. Accordingly I believe Enquest will follow the same logic so i doubt Enquest would hedge anything sub $70 leading into 2020 knowing it's heavier oil might also trade at a Premum to Brent next year.

I didn't know reserves based lending (RBL) had been scrapped.

Seismic and data means nothing,. lets ignore the future benefits of 5G and AI as well.

I would agree however that margins in large sectors of the economy are getting thinner, so operating with what appears to be comfortable debt/gearing levels today might need to be re-assessed. This applies to Enquest too.