Member Info for January2

Cheerful,
You forgot a big one on the "bad list " -
2021 results to be released in the next few weeks ! Although we sort of know what it will say, what will the market do ?
I will leave others to answer ..............

We could see our Operational Update RNS next week. I remember someone posted that IR had advised that this update would be released in May as planned. So, just the AGM moved into June. It will be great if we could see production maintained above the 50k bpd level up right up until the end of May. Malaysia should be totally sorted so should add some. Could we dream that the figure has even gone up ?
The average POO (brent) up to end of March was $100.32 . The average for April was $104.58 - So taking those numbers, the year to date average for Brent comes in at just over $101. With hedges reducing this number, I got Enquest getting $90 pb year to-date.
Looks like revenue of $4.5 million per day. If we keep this up then we can expect revenue for 2022 at $1.65 billion.
FCF somewhere between 650m - 800m . This is turning into a cash cow !
We could clear all our debt and buy all our stock (shares) back with our FCF in under 3 years ! Amazing. We are valued today around just 1 years FCF. Crazy !
SP 40p+ has got to be "incoming soon" surely ?

I would not worry to much about the Financial Controller leaving. Firstly this seems specific to the Finance department only. Secondly it is possible that JS was his mentor and with JS leaving he has just followed suit. It seems he has "promoted himself" by taking on the new role. This could be because he was not offered JS's position or he just felt like a new challenge. Either way I am sure the Enquest is attractive enough in quality and rewards package to attract great candidates to replace these 2 guys.
A different topic - Price of Oil. POO has gone up over $110. Anyone know why ? Is the European ban on Russian oil coming together ? Something has happened as POO looks very strong !

You are spot on, Tigar !
Just to add -
That's why they call it "Black Gold".
But unlike Gold, which you can melt and re-shape and use it again. Oil you burn it and it's gone !
I got a feeling the word Black Gold will be making a come-back in the coming months.

romaron,
What caught me in your post was the word "noise". I had to think where that I had heard it used very recently.
My good friend had used it and explained it, in his most recent interview. He also reiterated his $180 price target for oil and explained How, Why, and When. I do like it when experts don't just blah blah numbers, but explain their thinking too !
JAN

https://www.youtube.com/watch?v=VwpLn5fCMTg

Also sums up the current fall in POO, very nicely !

The price of gold - surely.
If gold can't clear $2,000 with a "war on "and a commodity boom cycle, when can it clear $2,000 ?
I am truely amazed that the price of gold today is not above this level ! Perhaps it is not the only safe haven as it once was.
My concern is, if the price of gold gets knocked back down to Feb 2021 level of $ 1,700 - where is the profit from All-in Sustaining Cost ("AISC"). Even worse if it fell to march 2020 level of $1,500.
They need to protect the business against a possible fall in POG. Get the AISC down as low as possible - Only spend cash that is needed and stop any fancy stuff ! Cut the expenses ! For if the gold price falls substantually , which I believe is possible during H2 - then we don't want any silly share dillution for a fund raise !

Maybe we should see what happens in the days leading up to the AGM before we accuse people of incompetence !
For Banana Joe there may be a valid legal reason why this was all delayed - Takeover etc - who knows.
In my book, it's innocent until proven guilty. If there is a valid legal reason for the action then it is not incompetence .

Many many possibilities banana Joe.
But a different AGM date does not effect the performance of the company. Not really a big deal is it !
So why moan unless you have lost money in pre-booking travel yourself. Then I would understand a little grievance. However that's life ! I guess Enquest could argue that they had not made an official anouncement with regard to the AGM.
I will still be attending the AGM, everyone has to make their own choices.

Agreed Auson,
Macron is speaking to the Hungarian President today. I would expect Macron to be firm with him. Offer a fair deal in one hand, and maybe a little threat of with holding some EU funds in the other !

Could be something simple that has moved the AGM. I do not think that it is bad planning ! It's too easy to book a hotel. After all that's it . The rest is availability of the board. That's where the problem is.
Certain board members have to be there, like AB.
In life things crop up . Like weddings, births , funerals and holidays etc. Some of these you can't control.

Trap !

Hi Martinen,
Yes, agreed. It seems the SP is waiting for it's next leap up.
I was at the home game against Leicester City which we won nicely. Will be at the ho e game against Burnley this Sunday.
ATB
Jan

Hi E121,
I think Enquest have had concerns about the AGM since I confirmed that I would be attending !
Is it that my humour (jokes) are hit and miss, or maybe it's because that I am a Spurs fan. Perhaps they wonder if I will raise a question about Enquest funding the 60p Party. Either way I feel unwanted !

Nice gas find today.
Looks like excellent timing romaron. We'll done.

Hi Whiteace,
Last year it was on 12th May. So could be next week (next thurs my guess).
Although in 2020 it came out on 21st May. Anyday in May possible, I supose !
Hope your keeping well and winning losts at the Poker.
ATB
Jan

2021 results RNS is due out before the end of May.
When this RNS lands, any thoughts as to how the market will react ?
Will it send the share price lower ?

Yes, I'm sure Russia will find a way around things. It is just adding to the degree of difficulty in "doing business with Russia".
Also I am not sure how comfortable a shipping owner would be in carrying Russian oil if Russia was covering the insurance. I can hear the conversation to a shipping company - " Don't worry, if anything happens to your boat or the oil we will pay, no problem" , relax you can trust us. We will even get you a bigger boat". - " But you said that you were not going to invade Ukraine" . - " Well that's not an invasion, it's our special operation".
I don't think any will trust Russia, unless of course the company is Russian.
What is interesting is the decline in Russian oil production. With western company's leaving the vast Russian oil fields it seems production is falling. I have heard production was down 1m bpd in April. Analysts expect this figure to increase in the coming months.

Very clever move to stop India, China buying Russian oil.

https://oilprice.com/Geopolitics/International/A-New-EU-Proposal-Could-Cripple-Russias-Ability-To-Transport-Oil-Globally.html

True - It is ! Biden will begin buying back oil to re-fill the US SPR stocks after the summer . They will have a huge amount of oil to buy, that should ensure POO is very high for the Autumn.

https://www.zerohedge.com/political/biden-begins-buying-back-oil-refill-strategic-reserve-will-send-gas-prices-back-record

E121,
Yes connected with Pelle.
Looking forward to connecting with romaron too ! - right on the chin for that last comment !
Now what shall I wear on the day ?
Tottenham Hotspur Shirt , Juan's waiter outfit , I wonder !