Member Info for January24

Hi KO,

Yes planning to go too. Completed my forms last week

Will train into London from Suffolk.

Stumpy, AB's average share price on his purchases will be quite high. Remember he bought tens of millions at the £1 mark and above in the beginning 2010.

AIM,

Interesting thoughts.

However I would not see AB staying if HBR acquired ENQ. He doesn't need a job for the money. He would need to be the boss or go

Hi AIMO,

I believe we need net debt to be under 500m. Possibly around the 450m mark. This could achieved in H2, more likely during Qtr4.

A good rns giving positive news about extra gas revenue.

However the affect on the share price is = nothing!

In fact we are currently down a bit even Tullow is up.= unbelievable!

My Investment and thus my life savings are currently decimated here !
Over £100k down, nearly half my money wiped out , on paper.
Can't even afford to go to the AGM this year. Can't justify the £100 spend.
Anyone got a job for a useless investor ?
Anyone see the light at the end of the tunnel ?

KO - SNAP !

Brent up around $2 this afternoon. Almost at $80. However Enquest share price not moved ! Indeed fractionally down further.
Rather than invest in this non logical market, I should have jumped on a plane and taken my money in cash to Las Vegas ! Gambling it all there in the casinos. It would have been fun ! At least you get the great looking girls working the tables there. Glamour and Glitz and great time.
What do I get here ? A miserable AGM and the chance to meet you ugly lot ! Not to mention Ian Wood.
Oh the pain !

Agree with you KO.
AB and the team have done very well with what they control. however between Covid and the British government our investment here has been destroyed.
I pray that we don't have any serious production issues. That would finish us off.
If I lost all my investment here, My saving grace would be that I could then claim all the benefits possible from the British government, as I am sure I would be ill.
A message to Jeremy Hunt - "What goes around comes around ".

POÒ looks like it has filled the gap today that it created when OPEC caused it to gap-up in price immediately following their production cut announcement. I posted about this last week.
In my opinion, The buyers should begin to return and we should see a rise from here ! I believe the bottom is now in.
I hope that I am right, otherwise I'll be eating bread and cheese for the future.

Agree KO,
POO needs to hit next support.
I expect it to reverse off $79 and few cents, for Brent..
Hopefully that would be the bottom.

I dont believe in technical analysis for companies of Enquest's size because no one trades on their technicals so therefore the technicals have no influence.
However that is not true of Oil. Traders do trade oil on technicals, so therefore it does influence the price.
When OPEC announced their production cut, the oil price "gapped-up" in price on the market opening. From a technical perspective this gap has to be filled. Filling this gap would mean oil has to go down to WTI 75.70 for this to happen. Brent around 79.50.
I think we need to see this before we see $90 and more.

Yes, thank you Stevo,
Much appreciated.
JAN

Is this solely down to their expectation of very high oil prices ?

I had to check this !

Barclays latest Brent price target is $92 for 2023.
Therefore Barclays must be assuming that the lift in share price to 36p is due to both higher oil prices and Enquest market capitalization increasing due to the company being able to reduce debt further and increasing its net asset value.
Oil price alone at $92 would not get us to 36p .

JAN 60P

I see it's based on market cap.
Maybe 2024 then !

With revenue of $1.8 billion in 2022.
Do we qualify for ftse 250/350 membership yet ?
Anyone know the criteria????

To be perfectly honest, I can't see any changes to the EPL tax before the next election in 2024.
It's a political hot potato and the Conservative party have not the will or strength to positively support UK oil and gas !
I think this is also true in the US and Europe to varying degrees.
What is needed to change the UK government's thinking is the scenario that they introduced the EPL for. We need VERY HIGH OIL PRICES of well over $100 for a long time. Maybe jumps up to $150 or more , but even pull backs keeping oil prices over $100. We need to see oil shortages that panic the government into supporting the industry ! We need circumstances to force the government to actively support UK oil and gas energy security as we transition into new energy sources.
I can actually see this scenario on the horizon ! I believe it's coming !

3 directors gone yesterday. Why are we clearing the board ?
What for ?
I can't believe that they are in some sort of love triangle and all decided to go together. No this smells of clearing the way for something.
I have read that US oil companies have started to look at Oil producers in Europe due to their valuations. Not so sure about Serica, maybe not big enough. Interesting times.

One thing I would like to add.
We all have different ideas as to what could be going on behind the scenes. Maybe one of us will be proved right in the future. The rest will be proved wrong.
However the one thing that we ALL agree on is that " Something big is going ".
There are too many of us thinking this to be wrong on this point !