Member Info for January24

Flash -

I see you are living up to your name !

You forgot M&A

You forgot the Oil Price

You forgot debt reduction

You forgot the glass is half full (the other half fills up next year)

BTFATH1,

I sense your excitement.

Do you have any particular golf club in mind ?

Re breeds -

May I suggest a "Mustang " it is more fossil fuel applicable !

Spin,

The Hay is a great idea. However may I suggest that before you buy the Hay, you buy the bloody horse first !

Agreed KO. However they don't have a Labour party over there threatening to destroy their fossil fuel industry.

A great drill result would do wonders for our valuation and oil reserves.

Enquest have a licence in Malaysia for a new area block PM409. They are currently drilling an exploratory commitment well with the results due by the next operational update in November. As stated in the half year results. Something positive to look forward too. No EPL there !

There is a band of resistance for Brent around 95.5 to 97 . We are likely to retrace from this by a few dollars once we enter this on the 4hr chart.

Then it's up to fundermentals if we climb back up again towards $100. Any negative news is likely to push us back to $90 or just under. Been watching a number of chartists views. IMHO

A Number of calls for $105.

Let's see how the next few weeks play out.

Hi Auson ,

Good to hear from you.

Yes, the 90's is certainly a sweet spot. However 100 is even sweeter! Lol.

I agree with your thoughts on Enquest being anchored around 14p -15p level. Surely any rise will be sold into by Swedish holders who are waiting for a slightly better price. They still have many weeks left to sell out if they want too. Many will have not panic sold and therefore will choose their exit timing. I don't see any major rise in the share price until after the delisting in Sweden. I think January 2024 onwards.

3m deficit already priced in.

Brent in the 90's is fair value for a 3m deficit.

IMHO - Needs to be much more than that to clear $100 and stay there for any decent amount of time. I am expecting a pull back in Brent after it hits about $96. Expecting a small pullback of a few dollars before the market decides where to go next.

That will be down to fundermentals. We could then go and touch $100, however I can't see us staying there without fundermentals changing.

If OPEC stop their cuts at year end then that is likely to put downside pressure to prices. Of course there is a distinct possibility the supply deficit of 3m grows even larger. That is what needs to happen to clear the $100 level and maintain it.

Martinet,

I think what Sekforde eludes to, is that Swedish investors have done their research and decided that Enquest is an investment which they want to put their money. That results of that research and analysis has not changed. Therefore Enquest is still investable.

The only change is the Swedish delisting. Worse case is you sell and close one broker account, then open a nominee account and re-buy your shares. Not that difficult.

I do understand some Swedish investors actions will be driven by emotional views , however I feel sure that this decision by Enquest is nothing to do with emotion and is purely business driven.

Now, just remembered.

I think I got it right.

Was it 4 M&A discussions currently taking place , that was stated/declared ???

Can someone please confirm when it was said ?

Surely this must be the link to the Swedish de-list !

It's something to do with M&A, A sale in my opinion.

40p please AB

Just thought.

Could it make share buybacks easier (less complex).

Surely if Enquest were making an acquisition (as they have done before) there would be no need to delist from Sweden. The only reason that I can think of where it could be relevant is if Enquest was for sale (being acquired). Then the acquiring company may request it, as part of the "tidy-up".

I don't buy the cost saving. It's taken over 10 years to realise that they can save a few pounds. No it's bigger than that, in my opinion.

Time will tell !

Agreed KO,

That is my hope !

Our friends in Sweden will be selling out for weeks due to the de-listing over there. (trickle-out effect)

Brent hit $91 and we are at bloody 14p and some change. Should be 20p plus.

No sign of recovery for many weeks in my opinion due to selling in Sweden.

I want to go into Hibernation for a few months, but it's too bloody hot !

AB please just sell the company for 40p a share to Linda (HBR) and be done with it !

This is becoming a comedy show ! My guess is $100 POO will get us to 17p if we are lucky.

Enquest was supposed to be successful and ensure my continued early retirement. However I will be going back to work on 16th October due to poor shareholder value ! Thanks -

The last day I actually worked for income was 7th June 2006

Sad state of affairs !

Hi Sekforde,

You stated - "Profits in the second half will be lower despite the much higher Brent price largely because opex is weighted to the second half."

However the Opex numbers you mention were from the Enquest 2023 forecast which got altered when Kraken broke down. The annual maintainance was braught forward and completed along with the repairs to kraken. Now I wonder IF some of these costs actually got moved into H1 , therefore opex for H2 could be far less than originally budgeted for ?

Is BTFATH1 a long term holder now ?

I think he is !

Good old Enquest sucked him in. No more trading for him, just waiting and waiting.

Welcome to the LTH's club BTFATH1.

EVEN the best swing traders get caught out eventually.

9 years for me.

I have been woken by a dig in the ribs.

My solution is just to turn over and go back to sleep !

Bias,

Read the delisting rns.

You can get your shares transferred over to London.