Member Info for January24

Lol, no idea then Smartie . As I said Bell end !

Oh yes, and I bet you think the market loved the job cuts and the forecasted reduction in production. Idiot.

Only bell-ends are rude and don't give their own view.
Come on then Smartie tell us why you think the SP is moving like this ?

Possibly the market did not like the announcement of job cuts, along with the reduction in production for 2023.
Combined with higher taxes for 2023, the market is re-valuing HBR at a lower figure that it did the day before the update.
That's my view.

Actually because it makes sense for HBR, however I can't see AB being ready to sell !

"Stevo,
Perhaps Linda will make a bid for Enquest !
They have tax losses (credits) worth around 2 billion. That would extend your period being able to use tax loses to save paying the 40% tax beyond 2024 . indeed these tax loses are worth 800m to HBR yet Enquest's market cap is only circa 400m.
plus You get around 50k bpd production for free - generating 4m per day in revenue or 1.5 billion per year at $80 oil.
What would AB sell it for ?"

Stevo,
Perhaps Linda will make a bid for Enquest !
They have tax losses (credits) worth around 2 billion. That would extend your period being able to use tax loses to save paying the 40% tax beyond 2024 . indeed these tax loses are worth 800m to HBR yet Enquest's market cap is only circa 400m.
plus You get around 50k bpd production for free - generating 4m per day in revenue or 1.5 billion per year at $80 oil.
What would AB sell it for ?

Just trying to help explain, maybe.
I agree the results were great. Now why is the SP down.
I think the market is forward looking and sees;
1) HBR production guidance for 2023 is down , see RNS. Nearly 10% down.
2) POO price in 23 not as good as 22, HBR price capped with Hedges.
3) EPL will take 35% profits.
The market therefore sees 2023 numbers coming in below that of 2022 and is valuing accordingly.
Just my explanation, can't see any other reason for fall.

Enquest stated that of 30th September the net debt figure was down to 750m.
What's the view on the board here for the year end figure ? What will we see in the final results for 2022.

My numbers expect it to be down to 640m.

That would be a remarkable achievment as it was 1,222m at the end of 2021. AB's target of 0.5 to be hit this quarter surely ?
Maybe then share buy-backs announced with final results late March ?!?

PYUECK,
You are right !
Government can do pretty much what it likes on taxes. All new taxes etc will be checked by their civil servants in the legal dept to ensure that they are in line with UK law. This route is a dead end ! Forget it lads.
We have to wait until the "penny drops" in their brains or something adverse happens to force them to do an "about turn".
A serious world oil shortage or substantial falls in North Sea production should do it !
We will have to live with it for the short term. At least H1 2023.
Lets Look at the positives - massive free cash flow being generated by Enquest whilw POO is above $80, even with the EPL.

londoner7,
Thank you for your thoughts. You make some interesting points. I agree with you. Seems logical and sensible to complete the FDP in 2023. However I expect Enquest to "take their time" with this. After all we have debt to pay down and share buybacks/divis to pay first !!!
Human Nature - If you are confident and have good support who believe in you and your work, then you move forward with vigour. If on the other hand you don't have this, then IF you move forward it is very slowly and carefully !
All the best
JAN

I doubt we will hear any moves forward on Bressy or Bentley this year.
Why would you invest hundreds or millions in a country where the government are NOT supportive. Indeed they are working against you ! Only an idiot would move forward with any investments in these circumstances .
The 2 B's will be put "on hold" for at least 2023.
Romaron, I don't think AB is playing the fox. I believe he is truthful with his comments and will NOW switch Enquest investments OUT of the UK (North Sea). I see money spent on existing fields only. With the objective of helping to maintain production levels. A bit of In-fill drilling etc, but no new projects.
Looks like any new projects will be Asia. I think AB is past talking/negioating , his mind has already been made-up. Wait for new on Malaysia. I feel it's coming soon.

Agreed , I also believe 40p is on the cards !
HBR release some data on Thursday which I think will give us some positive "rub-off" this week. Could be the catalyst to get to 25p.
POO could push on up a bit as we get closer to the 5th Feb Russia buying ban for all oil products.
Our own update in the first week of Feb could be the trigger to hit Barclays latest forecast of 32p.
The set-up is looking positive for the coming weeks, lets hope NO black swans appear !

Stumpy,
We just popped over 23p, seems you could be right !

Hi Spin,
I am unsure about Rishi Sunak's true Position !
You mentioned in your last post that he "Looked at Keir Starmers's Trousers".
I find that a bit odd to say the least. He could have also given more information too !
Like was Keir hanging to the Left or was he hanging in the middle ? That would tell us his true political position.

Yes Mr c you are right.
Dale Vince founder of the company Ecotricity has given money to both Keir Starmer and Just Stop Oil.
Dale supports both with money financially.
Keir must be OK with this, otherwise he would not accept the money. Sort of takes away Keir's morale right to "attack" Just Stop Oil.
What a mess our politics are in ! Are they all stupid ?

See what happens when and if, dividends are announced !

Thanks Auson.
Just to add to everyone.
.Don't forget (remember) Therapist has healing hands.

For what it's worth. I believe KO and think we will see 40p later this year

I am all in too Quest. I got flustered when we hit 7p. However money is not the most important thing, is it ?

I think Quest has big holding hands craddling very small balls.

Moaning after a few months, lol.
I've been here years and years. He must be a young lad with No patience.
We are like an aeroplane on the taxiway . In a que waiting for permission to take-off. The stewardesses are in their seats and we will soon be on the runway.