Member Info for Krakenoil

He sold out so no divi’s coming his way.

Todays news also proves how undervalued Enquest is as well, Both great buys and a must for the portfolio.
Both could easily double from todays market caps.

Correct Mrc but we all know what happened last time with the greedy US producers, they can’t keep it disciplined

Bullish data

Romaron I'm just looking at the monthly increases in US production and it is pointing towards a return to record production within 8 months if they keep on the same track as they have this year
Hope they don't spoil it again

https://www.bloomberg.com/news/articles/2022-08-09/oil-production-growth-to-slow-in-us-next-year-as-inflation-bites
Greed will get the better of them again

Demand still looks strong

Crude +5.457MM, Exp. -1.00MM
Gasoline -4.978MM
Distillates +2.166MM
Cushing +0.723
Production 12.2MMb/d
US production up 100k

You would think so, Lets wait and see !

We all are well informed now as to what's going on , debt being the main aim and we have produced great H1 results, keep on doing what we are doing during the last 4 months of the year and we will have achieved what we set out to do at the start of 2020 getting the debt level down under $500, Debt free next year with no interest payments, no covenants to hedging production either. 5p - 10p shareholder returns every 6 months easily affordable thereafter if oil prices hold

Fallen off a cliff

Its the eye before the storm !
Buckle up and hold on, Lift off looming

Maybe a blessing if it does fall to mid 80's for a few weeks and we can hold 25p gives us time to consolidate before the oil price rises again in Q4 when the US will end its SPR sales
It may also prompt a few calls to the government to end its WFT early.

Looks like they are going to short Brent into the mid 80's

At this rate if Brent holds above $90 we will have a FCF for the year almost 1.5 x our market cap.
I’ve Never seen anything like it

Brent at 6 monthly lows

Brent is now lower than when Russia invaded the Ukraine so will the government end this WFT ?
No of course they won't.

Our Market cap should be rising at the same amount as the debt is falling but sadly nothing ever changes. Its not EnQuest's fault as they have done all they can. We are just unloved and the only major buyer we have is AB himself. What more can we do ? The market has always disliked us and that may never change even with the debt gone and a return to SH returns.
You can lead a horse to water but you can't make it drink !

Strange to see us over 3% down but HBR and BP are both up
The WFT has certainly damaged us the most

Our fundamentals are fantastic but with the negativity towards oil nothing will change, Like Romaron said, Lets ignore the SP and just wait for the Shareholder returns.
AB must be thinking along those lines