Member Info for Indy0105

Auson, how does your response answer my question? Are you telling me that Enquest have not been paid for the last 2 tankers from AK. Because 900k barrels at $62 is $50mil. If thats what you are saying then your a bigger numpty than Kraken!

Krackhead! you are the one who’s thick or deluded or both! Answer this question moron, why is cash 50mill less than it was at the start of the year?

It’s not the production which is the issue Jan. Its cash and the lack of it. The company has 2 billion debt and only 150mil in cash and showing negative cash flow since start of the year. Like I said where is the money going if FCF is at $30. The facts are there for everyone to see.

Another rights issue is on its way IMO. That’s the only way Enquest will meet up and coming debt obligations unless they forward sell $100mil of oil again. Amjad needs to be open and honest about the situation.

Available cash as at 31dec was 250mil. Available cash now is 200mill means net debt has gone up, Not down!

The downtime has only made production at AK worse. Where’s the free cash flow? When is sign off? Why hasn’t cash position improved at 62 bucks a barrel? It’s all bad news. No one wants AK, 2billon for 21k a day is a poor return. As I said, it all had to be good news for this to break 45. I cannot see this holding 40s now. Feel sorry for all those to had the courage to hold. It’s still heads just above water which is concerning at these oil prices. If I was at the AGM I would be calling for new leadership!

If he does then the wells are underperforming which won’t go down well. If he doesn’t then it will confirm their initial assessment that Bumi were the wrong choice for the job. Maybe some more information at AGM but knowing Amjad he will dodge all the tough questions, especially about AK.

It’s been 1 year since AK first oil and to fix the problems and average production for this year is 21k a day. When it was expected to hit 50. We know this month will also be low. AK has massive problems no Sugar coating that. The market will not react well to this!

AK is actually performing worse since the maintenance! Net debt not down. Only good news is Heather well.

I’m sure your right. Hopefully it’s nothing and all will be grand tomorrow. Pull back was due as most oilies have been in overbought territory for a while now.

There may not be any issues. It could be due to sign off. But it’s unusual for production to stop or dramatically slow during this process. Last offload was the 8th so something is going on. I haven’t got the bottle to hold anymore. No doubt it will be the wrong choice. I hope it works out for all invested.

Must be another issue with AK. It’s been a decent run to 44p but I’m out first thing today. I will buy in again after the update if it’s a good one. I know I may miss out on a spike but any bad news will send this back into 30s and other oilies look a better bet at the moment.

What’s that now 14 days without an offload! I wander what the delay is?

Thanks MO

MO, what’s your expectations from the new wells being drilled this year in terms of added production and do you think there will still be a reserve upgrade for AK once DC4 has been completed?

What’s worrying is that the last offload showed AK was only producing 38-40k. It’s now been 12 days and still no sign of a tanker. Maybe they have had to constrain flow rates for final commissioning test and sign off. Hopefully we will see one soon. If not then I’m not sure if I have the courage to hold through to next weeks update.

Looks like we have finally broken 38p. Should retest 45p in the next few weeks.

Sqiff, the two village idiots DD and KO actually think that Enquests performance was on par with Tullow and PMO, even though PMO had a big dilution from the convertibles and Tullow has a rights issue last year. LMAO at these clowns. They really have no idea.

This is coming from the moron who said we were heading to 60 a year ago. What a clown!

Unless Enquest can break 38, it’s heading south again IMO. Hit 38 and bounced off it yesterday, hit it again this morning and again bounced off it. Now heading back to 37.