Yes agreed, investment too.
They do seem in medium term trouble. What matters most currently is if the Russian oil which goes West is so "toxic" that it backs up the pipelines and causes shut-ins. That would have a more immediate impact and likely be a slow one to rectify.
What you say may well be true Chilting. However, what's missing is the western expertise to maintain high levels of production.
Lord the units in that Reuters article are ridiculous...million kWh/h then kWh/h then MWh/d...in the same units please!!!
Anyway, whatever increase in flows that has happened recently has halted the drop in EU storage volumes. Now we're nearing the end of winter thats really taken the edge off the possibility of 'running out' of gas in storage so I don't expect prices to jump again unless Russian imports stop or significantly drop.
But that just my read of this crazy time.
I have about £120m per year revenue for gas based on 30% of production and 250p/therm. I think the big thing holding ENQ back is the volume of hedges, meaning the proportional change is FCF in larger for production swings (as you have to sell at the hedge price first then get the higher market price). Could do with some production news to the upside...
I have approx 7kboe current plus 6kboe for GLA (both net). Would like to hear others though, not loads of numbers out there and in fairly confusing units!
TTF is priced in MWH.
When do we fill up if they happen at the same time!?
Yes Q-11b appraisal should be completed imminently. I'm hoping with that result RNS they give a clue about how much cash we have or somekind of financial update.
Otherwise, it's aquisition news or Q10-gamma exploration well (but that's a way away yet).
It was back in port earlier today though. I guess from that people assumed that it had finished.
I haven't got a link but I'd expect following stimulation the next step would be flow testing.
Although surely high prices do impact negotiations, as we all know historic price is no guarantee of future prices.
Therefore instantaneous and near term prices are not that significant compared to the life of the fields and all other obligations and opportunities associated with them.
As always, if there are multiple interested parties Total will be holding out for the highest price, that is uncontroversial to the extreme.
Also, a nice key bit of info to add in there is that it is "expected that any acquisition would be funded using the Company's existing resources". Very promising indeed.
I can't find the article they're talking about - have you got a link to it?
If anything I'm not surprised nobody posted on the forum, more surprised the purpose of the RNS may be to attract people's attention to it! Would be nice if they said which article specifically :D
Yes quite absurd really to think that requesting an update may impact on the outcome of the arbitration. I'm not sure where that features in the rules for arbitration.
To me, those interims looked like they were from incorporation up to end of H1 2021 (so H1 plus some time before). Therefore, it'd not be possible to have full year results until next year as Maverick says.
I messaged IR and they said "the Company does not intend to provide quarterly updates". However, they said they'd "provide the market with trading updates as and when is required".
Make of that what you will but I don't expect a Q3 update although I hope that Q-11b results come with some small trading update info (cash/debt/production).
If I understand your calls correctly I have a question. Wouldn't the hedge volume be applied to the net production rather than the gross?
True, it was a sidetrack to a new location in the Slochteren formation, which is the fields primary producing reservoir (taken from the August corporate presentation).
Interestingly it says the drill was complete 21st Oct. I wonder why no RNS has been issued about it...
Great article, thanks for the link
It sounds like what MrsP is more interested in is a pure play on gas prices. Not sure why they wouldn't just trade the commodity direct if they believe to know the direction and timing of gas price trades.
There's a lot more going on with KIST than just gas price. The recent high prices were a bonus and I'm pretty sure the market wasn't pricing in a maintenance of 120 and significant disparity with the cost per unit energy with oil.
Predicting the actions of Putin/Russia is a bit of a fools errand.