Member Info for January24

Hunt will ensure we have NO growth.
Going totally the other way ! Crazy.
The middle ground should have been taken

Agreed Dumbly,
The market does not know the detail and the market always never likes that. I believe common sense will prevail. If you taxed ENQ and the likes , it will only drive investment away from the UK. The current level is far to high already. 65%.
As for OPEC, will they respond with another cut at their next meeting. Maybe 1m bpd ?
It's becoming a game of "chicken".

Hunt talking about further taxes on Energy companies, is why our SP had been hit. Especially as our production is biased towards the north Sea.
Let's hope AB and friends talk him out of it.

Press are saying 10-15 m barrels , Biden team will announce later this week. Just to keep a check on prices before mid term elections. - reauters

I am very happy too KO,
FCF of 600m, or 650m or 700m - I am not bothered which number is right, all these numbers please me. I feel sure that they will please the market too !
Cash is flowing into our bank at a very high rate which must increase our market Cap in the coming months. I do see the SP breaching 40p before the year end.
OPEC have demonstrated that their floor price for WTI is $80 and they will act if POO attemps to go below this level. This should protect us to downside risks. As for the upside, then I guess the skies the limit with potential demand increases. Especially the understated switch fron gas to oil which could be well over 1m bpd.
As romaron stated in a recent post. Being invested in an oil producer, we are possibly in the best place as other markets/sectors fall. Indeed I can see us repeating our levels of FCF in 2023, maybe more. Indeed I can smell dividends coming too ! - Yes romaron AB and the team have "built it and the crowd will come"

Hi L3,
Thank you for your thoughts.
Not sure about the last sentence in your post. I think your maths are wrong.
You mention that Enquest will need up to 180m in 9 months. You then talk about 40 or 45m fcf month.
- you would only need 20m fcf a month for 9 months to get 180m.
Now I do understand fcf will be used for other things too, but we have been achieving around 60m fcf a month for H1 2022. Based on a POO average of $89.9 during this period (in H1 accounts). Now if even at current POO using the same H1 split for amount hedged vs unhedged 45% vs 55%. (Now we have been told they have burnt off more Hedges and the amount of unhedged for H2 has grown) However keeping the original split and at current Brent of $92 I get an average oil price for Enquest for H2 of $85.7. As long as production keeps around the 48k bpd or more, we will see fcf of 55m month for H2 .
Now if POO pops back above $100 then we are back to 60m fcf a month or more !
IMHO.
All the best - JAN

Hi Zippy,
I believe you can purchase them from your normal platform.
Like Enquest stock has a "ticker code" ENQ. The bonds will have a ticker code too. Punch in the code and it should then give you access to purchase the bonds. You may need to telephone your platform first to get the ticker code or run a search on the platform . That's hoe it works on my platform.
ATB JAN

Hi AA,
You just popped over for a look ?
Or were you hoping to learn something ?
Either way, Nice to see you.

Let's hope so Mrc

Seems like someone can't hold their drink !
I thought that these super duper top traders don't let their emotions get in the way. Looks like the same someone has not read the script ! KO seems to have got under your skin , as well as our dear leaders.
Let me guess, your not a Conservative. Next your be going over to the "green renwables side". We have already lost one LTH to the green side (chilting) , he sniffed to much green hydrogen and has been talking windmills and rollocks ever since. Be careful what you sniff at, you could be next !

Your right Cherryburn.
I think that they are waiting for 5p Entry.
If All in Costs per ounce are again higher than the cost received per ounce, then game-on for 5p. IMHO.
We will know in a few days !

Just to add - with a fair wind, we could and should smash through 40p by the year end !

POO has had a good run up last week, maybe a little pull-back is due ?
I am expecting Biden too announce an extension of the SPR release, maybe (half currnet level ) which would be 15m bpd until year end. Pull Back will happen. Friday close of 33p and that would be doing well ! Slowly slowly catch the monkey !

Just to add,
Once 38p breached, I got next levels of resistance as;
42-43p then
48-49p then
54-55p then
60p Party

Looking at the charts, do you concur ??

Hi onedb,
Thank you for your thoughts.
I would like to add that 37-38p area has been hit twice already this year. Both times it was "rejected" and the share price thus retreated. This area has been a resistance level for us.
However the good news is, In my experience when a resistance level is hit for a 3rd time it is usually breached ! When we hit 37p next time it will be the 3rd time and I expect us to breach 37p and pass through to 40p.
Maybe you should consider 40p as your target ?

Well Done BTFATH1,
Enjoy the Big Mac with Fries !

I believe that most of the population don't understand the energy crisis and how the UK oil and Gas industry can help our country with this ! At this time it is fashionable to bash the oil and gas industry . However we know the public can u-turn very quickly when it effects them personally. I personally would welcome some UK blackouts to demonstrate how important our industry is ! A few blackouts this winter would cause the great British public to u-turn and start screaming for UK oil and gas iinvestment and ndependence. That's the time to remove this crazy windfall tax which hinders investment in our industry.
With regard to OPEC. I guessed a 1.5m cut . We got 2.0m cut. However mid 90's for Brent is what I expected. Currently we are $94. The US has to either stop or at least slow (if they with to continue) the amount of oil being released from their SPR as the levels are getting too low. China will see imports rise over the coming months as they leave covid behind them. Then you have the ban (and price cap) on Russian oil. I believe Putin is aware that his oil production will fall which is why he was the first to suggest to OPEC that they should cut production. This boosts his revenue, perhaps countering any fall in production. Goldman Sachs have just Raised their forecast on POO to $120. Personally I see $100+ before 5th December.
If Enquest can keep production at arond 50k bpd then we may finally have our 60p Party sometime in 2023.
All the best,
JAN

I think Liz Truss did rather well for someone who is not a natural presenter !
Well done Liz. Let's now focus on our North Sea Oil and Gas growth.

Looks like the market has priced-in a 1m bpd cut from OPEC. Brent at or just under $92.
Moving Brent to over $90 but failing to reach mid-90's.
I think it will take a production cut of 1.5m - 2.0m bpd to push on up over $94/$95.
I don't see $100 just yet. I Think we need the next catalyst to arrive for that. Looking good though, for Enquest.

soon.
POO hiting $91