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.
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 !
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
We are still very unloved, no idea when that will change, it’s extremely frustrating and disappointing for us all, our volume has fallen over the past week or so. Oil seems to be under pressure from all governments causing negativity within the sector, Opec meeting today, they too are treading carefully not to over supply, WTI sitting at $90 is way down from the years highs but pump prices remain at the high end.
What's wrong with the man FFS ! He obviously has some sort of vendetta against EnQuest or he just doesn't bother to do his job properly. Possibly another tree hugging woke lunatic who thinks oil is the blood of the devil.
Morning Romaron, that was my first thought when the RNS popped up, A month early that's strange considering we usually get the update around the 3rd September, Something must be brewing in the background otherwise why so early ? With AB's constant buying going on we must have something big going on in the background. Another purchase ?