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We were 14.2p before the news landed on the 22nd December.
How can one man and his opinion push our SP down so fast so easily.
This is a big problem for us as we have been and still are so easily manipulated
We are a investors nightmare and that wont change until we have returns on the table.
I spoke to Enquest yesterday afternoon over the Jefferies downgrade, they were disappointed with Mark Wilson’s focus on just the declining fields and the fact of no shareholder returns
It annoyed Enquest why he chose to ignore the importance of our strong performance over the past few years and the fact we are still a growth company. He also chose to ignore our Tax advantages and falling debt
They also said
As you and I have discussed previously, our senior leaders remain committed to delivering returns to shareholders and seek to create a pathway to delivery during 2024. We are also very much focused on bringing our relative tax advantage to bear through inorganic growth, so our strategy is very much geared towards addressing the issues which are being prioritised by Mark Wilson in his note.
Looks to me like Jefferies has downgraded us on the lack of shareholder returns alone, more or less saying “It’s all talk, no action and the market is tired of it “
There you go AB even Jefferies are sick of it.
I think Shareholder returns will be pencilled in for next year when the Lease costs drop next year on the AK
We could pay £50m in returns and carry on paying down debt at the same rate we are now. But we need to see the concept for Bressay agreed by the NSTA - Enquest are working with them on it
Brent forecast for 2024
Barclay's $93
Citi $82
Bank of America $90
JP morgan $85
UBS range -$90 -$100
Wells Fargo $85 - $95
Jefferies we "could be entering into a commodity cycle from the second half of 2024
So the ones that are paying down debt fast they cut but the likes of HBR who have taken on a massive amount of debt paying 75%tax they upgrade
Did they even bother to read the last TU or the last RNS ? Or did they just look at the average SP over the past 3 months and think "Yeah that will do" for them little maggots
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