Member Info for Krakenoil

Ammu's fiver is now worth £4.75

Cracks are forming in the WT
They could scrap it altogether and just blame it on Boris ! Why not

https://www.energyvoice.com/oilandgas/north-sea/425518/north-sea-bosses-seek-urgent-windfall-tax-meeting-with-new-chancellor-zahawi/

We are now valued less than the beginning of the year with substantially higher debt and with a oil price of $80
We are still making big money even with a WT
Gobsmacked

I went to the AGM and AB stated our production has averaged just over 50k to date, so straight from the horses mouth, GE production is unhedged .
You can work out from our hedges in place and what the oil prices have averaged for the year so far so you can work it out. Or have a look at tarmak spread sheet that will give you a rough but pretty close estimate

Yesterday we saw the US selling off off pushing don the price and again today on open they have pushed the oil price down a dollar.
Tug of war going on between oil production/demand driving the oil price against massive shorting/selling over covid and recession fears. Who knows which way its going !
The most important thing for us to worry about is keeping our production up around 50k, banking the huge FCF and paying off the debt as quickly as possible and so far we are doing very well at all 3.

Removing the WT will be political suicide but changing the rules to who it applies to is a real possibility. I bet AB can approach him far easier than RS and he will understand the need smaller companies with higher debt ratios to be given some slack
There's Always a twist within the oil sector and this months twist was negative, Next month could see the complete opposite

US oil companies won’t put up with that, they will down tools pushing oil prices into orbit

How can we have a market cap valuation of just 3/4 of our FCF ?
We are living in a crazy world

BP up almost 4% and rising

Don't miss this opportunity

He was involved in the Afren debacle. Not sure I cagoule trust him either to be honest specially after losing a shed load when Afren’s cash was stolen by the bod

Enjoy the holiday Jan, see you when things are looking far better than they are now
60p soon

Mr Sunak oil has now returned to normal pre war prices, When are you lifting the WT ?

Previous recessions have seen demand fall by 1.5%, Less than the supply shortfall we currently have.
How is oil going back down the $65 as Citi back says is possible .... Noise that's all !
Unless we all get locked down again

They are already talking about Covid restrictions again FFS

Bit like saying oil at $0 who would sell it for nothing - No one

Spin Pump prices are the problem not the oil price, Blaming oil prices are just a excuse for our terrible governments failure over their silly green targets. Why get rid of our ability to refine fuel in this country to reduce the carbon foot print and then import the fuel from another country. that just makes it worse surely due to shipping it.
What a joke !
Open up the refineries and limit the TAX income on fuel prices.
Give incentives to north sea gas suppliers so we don't relay on other countries for that either.
Get Boris out while were at it.

Spin, Enquest is making big money, the SP movement is a opportunity to buy cheap, can it go lower defo but can it go much higher defo, will fundamentals eventually drive the SP valuation 100%
Get this year's revenue banked is key to our re rate

Chilting I asked the question at the AGM and AB said they have had offers for it but we are going to keep it... with a smile on his face ! So by that Enquest must have plans to use it somewhere