Member Info for Krakenoil

If that's true and he does introduce a floor to the EPL around $80-$85 then we can handle put up with that but if the floor is set any lower say $60 then it makes no difference as we'll make zero profit anyway.
I hope the government understand that the future of the North sea is at stake over it.

Bitcoin lol as if that's a safe haven

The last time we were 17p we had $1.2b debt, we were making huge losses, oil prices were around $40 and wewere sitting in the middle of a pandemic.
Today the oil price is $80, we are making large profits $500m, oil demand at yearly highs, flight numbers at pre Covid levels but we have a government hell bent on wrecking our North sea, our economy and have managed to demonized the word "Profit"
What a mess !

There is absolutely zero chance Hunt will reduce the EPL or put a floor underneath it, it’s more likely he will hit us even harder.
The majors made most of their profits from trading the volatile oil prices over the last 12months not just from the sales of oil and gas
That’s why it’s hit us mid cappers so hard and hasn’t made any difference to them.
Hunt needs calling out over it

Chilting - Buy back in FFS

Wait for Hunt's Budget we'll have another one.
This is my own fault I should have stayed out when I sold on the day Hunt increased the WFT, deep down I knew It was a bad move to buy back in but I didn't follow my gut feeling. Cost me £150k

Perfect time for buyback’s.
We could be taking advantage of this opportunity

What really annoys me is the fact the major’s earned their huge profits by trading the oil price volatility over the past year, the government pointed the finger at producers knowing full well what was going on.
The public brainwashing is up there with the Covid scaremongering.

What got me was the percentage of pension funds invested in U.K. companies - quoting just 5%. I know the U.K. government have demonised profit in this this country but that’s shocking if those figures are accurate.
If that’s the case how the hell are we going to attract investors from outside the U.K. ?
That’s a disgrace

Well that’s a great start to the week.
Markets in meltdown

What is AB’s exit plan ? Would he leave his shares in the company at risk of someone else running the company or would he prefer a takeover and be done with it

https://www.**********.co.uk/articles/vox-markets-fund-manager-series-adam-rackley-of-cape-wrath-capital-1266d05/
Fast forward to 41.2

Downgraded over production declines

That explains the drop today.
No one else to blame for Moody’s downgrade other than our bod

That doesn’t make any sense Chilting, debt is under control and he could easily drive the SP higher if he wanted to. The last update was clearly written on the negative side for a reason, that’s the way it sounded to me anyway. He could have already started a buy back program but chose to leave it very vague when returns would start, could be this year, next year or 2030 who knows.
It’s always very vague. We still have the EP sitting there doing nothing rotting away, that could have been sold or put to work. We have decided not to drill at Kraken for some reason letting the decline rate increase.
It’s like we have no plan.

I would imagine the shorts have increased again today and that’s why we are 5% down.

Both Tullow and HBR having quite a good day for some reason

Buy backs are our only option to lift the SP unless sellers swamp it.
Shareholder returns need to happen and fast. We can afford £50m ffs

I think that's where its going, would explain a lot.
There is no excuses now.

Mark999999 Nothing has changed apart from a bounce in the SP but fundamentals are fact and yes ENQ looks far better on paper than Tullow but no one wants to own them - Just how it is.
Markets are a weird place and Enquest has been a terrible stock to own.