Member Info for Krakenoil

You would think oil stock are the safe haven to be in right now, Oil prices are high with no sign of that dropping over the next year or so, but yet we are seeing the Stock prices across the board falling below the Jan/Feb prices on recession fears.
Everything has been battered now. Basically pick any stock that is not in danger of going pop and sit back and wait for the rebound.
Oil stocks for me are the safest bet out there and Enquest having record FCF coming in is my top pick.
Christmas still looking good for 50p

Slapping on windfall Tax's is rather silly at the time when you need oil producers to pump more oil. All it does is make the problem even worse in the long run.
The oil companies are the ones that will also lead the way into renewable energy and to do that will require huge amounts of money. Will the government give this WT back to them in the future to help the transition ... I doubt it

What I don't get is the way the market is now valuing us. We have just banked the profit of 6 months high oil prices, Its Banked, Can't be taken away !
Oil prices will not fall much below pre war ($96) Anyway its not the oil price that's causing the problem world wide its the refineries and the governments causing the issue with monster extraordinary Tax they are slapping on our pump prices, getting rid of Red Diesel causing transport costs to rise dramatically.
Our woke governments are the problem ! Reduce the Tax at the pump by 30% and the problem will be gone

We asked the same question at the AGM and JS explained it would be negative to do that as some monthly payment come in at different dates so it makes the numbers look very good for say the first quarter but then terrible for the next one, you get a much clearer picture with 6 monthly updates.
AB also said We are on track, we have consistently produced over 50k so far so we are on the upper end of our guidance

At this rate The market cap wont be far off our 6 monthly FCF.

This is just mindboggling

I've given up worrying about it.
The one year we are bang on track for a record year and boom the markets tank again.
We must be the unluckiest company on the Stock exchange, one thing after another, It can't always be like this !
We will have a good run at some point I'm sure

We are now at the same SP as we were in the end of Feb 2021 with Brent at $64
We will bounce hard when trigger is pulled

Well anything is possible with these current markets, With $100 oil and record FCF coming in what's to stop the SP falling below 20p, 10p or even 5p ? Nothing I suppose !
Oil prices fell below zero back in April 2020 albeit not a single barrel changed hands below zero

Barclay's Target figure of 23p looks likely if oil prices fall back from here.
Depressing I know but we all had the opportunity to trade the swing and I missed it (Hit man called it correctly, well done )
Oh well, just have to buy into further weakness and wait for the inevitable rise.

Opec will increase production limits today erasing all the cuts made during the past 18 months, have they got any production reserves left ... Doesn't look like it !

Brent at $120 yesterday, the market knew oil was about to sh it itself that's why oil stocks dropped
8am Brent dropped $3
These markets are broken
We are still raking in record amounts of money each day, this year will be our best year by far wiping out most of our debt liabilities.
What's not to like ?
Buy the dips in a panicking market

You have to laugh !

The US SPR falls below 500m barrels, in just 12 months its declined 20%
They can't carry on like that.

Oil up 1.5% nearing $120 and we fall 3.5% lo
You couldn't make it up.
Its not just us falling

Another draw
Crude: -2.762M
Cushing: -0.782M
Gasoline: 2.645M
Distillates: 2.559M

Iran talks have failed again.
Opec meeting concluded with no real changes
Market awaiting EIA numbers
Oil prices climbing above $120

Seller still dumping stock pressuring the SP
What a Fool ! lol

Our SP is stupidly cheap
Just ignore the noise and fill ya boots while you have the chance 26p won't be around for long

For 2022 Enquest are 100% focused on paying down the debt as fast as possible.
2023 is when they will aim at shareholder returns.
I expect our SP to slowly climb as the year goes on, H1 results will prove to the market our FCF capabilities boosting the SP and if the government lay out concessions to the WF Tax and we benefit then expect a further boost to our SP

I don't think SA have the ability to consistently pump 12m I think they will use their reserves to booster production figures to reach 12m
Its all talk to keep the Americans from flooding the market again.
A game of poker - its all bluffing