Member Info for Indy0105

just having no a glance over the half year report and noticed that KUFPEC has commeced court action claiming breach of contract for one of the groups warrents provided under Alma/Galia farming in agreement and is seeking damages of 91 million!

Can someone explain how net debt is actually up. 75mil cancelled from RCF, 250mill in cash and undrawn facilities, yet debt is the same??

I certainly won’t bounce. 30p odd represents fair value after dilution. It will range trade now between 28 and 33 until rights issues. Small share holders got screwed big time! This is a dead duck! No increase to production even with Alma, Malaysia, Heather and Magnus! Where’s that ramper MO! Ramp Ramp Ramp that all he does. 70k a day, Ftse 250! What a joker! Well the jokes on all those who held. Yeah the share will recover, may take 12 months and for those getting in now it will be a good return. But it’s going to be another painful period for LTH! A few of us called it! But even I didn’t think it would be this bad. They are raising money all over the place! Why not use the 15% of Kraken to cover Magnus! AJ has lost all credibility. No major invested would touch this share.

It made me wander why they didn’t give an update earlier. Oil price had great momentum, the share price had great momentum. A good update would have sent the share price to 55p. Now oil is taking a hit, the pound is strengthening, the share price is getting nailed! Even a good update will not get this near 44p. The rise and drop has been orchestrated. Even selling 25-50% of your holdings is not a bad idea when a share peaks. If it breaks resistance get back in. You may miss out on 5-10% but if it goes the other way you as this has 3 times now, you can make a load on the bounce.

Failed for the 3rd time to break 44! Someone is pumping and dumping, probably AB trying to get rid of all his shares. So predictable. Some on here were predicting FTSE 250.

The gap back to 36 is looking like it’s going to get filled! And then all the LTH on here will be complaining again.

Your so thick KO, L3 actually made some valid points!. Markets wont care about revenue if net debt remains high and production remains low after 6 months of solid oil prices and heavy investment. 250 million is heavy investment IMO!. Last update they failed to give a net debt figure because it had in fact increased. Heather well is back to producing 3k a day. Kraken production is all over the place and production at other fields has been consistently dropping all year. If Alma work overs don’t go well then where is the future growth coming from? They won’t be able to afford Magnus without refinancing! Pull your head out the sand KO! This company is still in survival mode and will be for the next 12 months.

Not producing at 54k a day it won’t. Enquest needs free cash flow that will not only pay off debt but also allow it to invest. At current oil prices and production this is and will not happen. I’ll It’s bigest and most valuable asset is under producing. I don’t believe for one second it’s just the FSPO that’s underperforming. You say 15mil is too low, I say it’s probably the wells also underperforming which is why 15 million is being made to look like it’s positive news. Smoke and mirrors! All will be revealed on a Friday. I think it’s more desperation from those LTH for good results rather than common sense. As MO just showed the profit from Malaysia is not as much as it it from North Sea production. As you highlighted actual North Sea production that is profitable is only from only 38k a day after Magnus and the oil payment for 100mil loan.

I sold out just before the last drop (more luck than judgement I’ll admit) and you can check my posts if you think I’m talking bull! I sold out agsin last week. This company always disappoints. I wouldn’t expect anything different on Friday. It’s great for trading in between updates but not a long term bet in my opinion. But hey if I’m proven wrong on Friday. I’ll take all the abuse coming my way!

I think you guys have to accept the AK is only capable of producing 32k a day! Hopefully thtats due to the crappy boat rather than the wells. If it’s the wells then Ak looks like another bad investment decision.

Load 16 finished 11:30 on the 26th of May. Load 18 finished roughly the same time a month later. 2 x500mil offloads is 32k a day.

All the best MO, hope this horse comes good for you. Laterz

@E121...tell me what the cash flow is from current AK production and the interest accumulated over the year abd I’ll tell you what the NVP is smart arse!

I swear you work for Enquest MO.Floor price was $45. Why include the number of barrels in the RNS.

Let’s just be honest and agree that actual production that’s generating cash is a lot less than stated production.

@MO, from RNS. Payment over 18 months for 1.8million Barrels then it’s 3200 BOD! FACT.

@ Chilting! Typical! What part of my msg are you disputing? @MO, what part of spending 1.5billion on 21k a day is not a disaster. 13 days since last offload! Still producing less than 40k! Bear in king your estimations so far have been 4-6k a day on the optimistic side.

I have researched this company to death and No investor on this BB has any credibility! Most have been invested here for more than 2 years and have their life savings on the line. This company provides minimum information because it has a lot to hide! AK is a disaster, let’s be honest, production figures are well down this year on what we expected from AK and other assets. It’s been nearly a year and still no AK sign off. Net debt up and no explanation why, in fact net debt not even mentioned in update when historically it always has been. A lot of new posters on this BB hoping for a big rise. IMO this is heading back to 28p. I’ll get slated for saying that. When I first posted, I questioned production figures from AK based on the CNE update, Jan and KO said I was talking rubbish. It’s turns I can do simple maths after all. 100mil liquidity on forward sales of 1.8 million barrels of oil over 18 months is approx 3000 BOD a day. No cash from Magnus as stated in end of year Q&A (4000 BOD) Based on current produced enquest are only receiving cash from approximately 49 BOED. Let’s not forget decom liability’s of 1 billion for assists producing less than 1000 BOD. And you guys believe this company is worth 60p. Don’t give up you day jobs that’s all I can say!

Knowing AB, the production level at which AK is signed off against won’t even be mentioned in the RNS. Optimists will assume it’s 50k, pessimist like myself will assume it’s lower.

I agree epi121. Unfortunately until the company can show a reduction in net debt, increased production and position free cash flow, this will struggle. Oil moving up Enquest moving down is not a good signal. I’m not ready to get back until AK has been signed off with the statement that’s it’s now producing at 50k. Timing of the next few tanker offloads will be interesting.