Member Info for Krakenoil

Well that’s not going to suppress oil prices

Crude oil: -8.0M
SPR: -4.7M
Cushing: -0.1M
Gasoline: -0.8M
Distillates: -2.7M

Crude: -4.496M
Cushing: +0.093M
Gasoline: +2.933M
Distillates: -1.652M

So what price do we start planning it ? Looks like it will be much sooner than the end of the year.

Let’s see where we are towards the end of the year, my guess is around 60p - 70p range.
The debt value is now starting to move across to the market cap as fundamentals start to take hold here.
2023 will see EnQuest in to the FTSE 250 for sure.
It’s all starting to look very good indeed.
It’s about time

When it settles down around 75p lol

Course I haven’t !
I ain’t that silly lol

Shouldn’t have sold out !

A bounce in oil prices should lift us nicely into the mid 30’s.
Consolidation done

Its now close the gap from before the invasion Jan, Technical drop.

07-Apr-22 Canaccord Genuity Speculative-buy 35.00 45.00 Reiteration

Jefferies raises EnQuest price target to 50 (30) pence - 'buy'

The world is around 3- 4m barrels short of demand currently.
Driving season, Holiday season and Hot weather in the Middle east will push demand even higher.
US production rising doesn't offset falling production across the rest of the world.
US producers will be very couscous towards lifting production, they don't want to dampen prices either

This SPR release will only hold oil prices back so long but the inevitable rise in oil prices will push on once refineries have worked through it (about 40 days ) in my opinion. So give it about 30 days and oil prices will start moving back up.

2 x £1m sells @ 31.55 went through at 4pm, yesterday, probably due to not wanting to be exposed to the SPR release , if the SPR release doesn't work on lowering oil prices then they have just said to the world We don't have any other options left !

That's better James Hosie - 40p will do for now

Slowly slowly is fine with me, To see the SP back in the 40’s will be fantastic
5p a month will do just fine.

Remember Mrc back then we LTH were badly underwater and the last thing we wanted to hear was you telling us Enquest was going bust !
Cut a little deep
It’s all behinds us all now so let’s forgive and forget

L3 - That's much better !

Laidback - You've changed your tune, from one extreme to the other !