Member Info for Krakenoil

If we can get through this dip in oil prices relatively unscathed we on on for a move to 25p (New yearly highs )

Now Iraq wants its baseline increased

Oil prices tanking due to rumours of Opec + falling apart .
US increasing production, the UAE not backing down putting pressure on the rest of the group.
Opec deal is far from done unfortunately

The market doesn’t like that.
Oil price dropped almost a dollar on that report

Note the 100k increase in production, who said the US isn’t going to bounce back

Crude -7.897MM, Exp. -4.00MM
Gasoline +1.038MM
Distillate +3.657MM
Cushing -1.589MM
Production +100kb/d

I doubt it MRC but 23p would be lovely

Delayed again to 4.30

Yes looks like it mate

Opec reaches informal deal and the EIA delay the repaort

I smell a rat

We should have a crack at a new yearly high once Opec agree on a deal with the UAE.
30p plus once the GE completes

https://www.bloomberg.com/news/articles/2021-07-13/u-s-oil-consumption-surging-with-industry-firing-at-full-blast

Well found Pelle

Crude -4.1MM
Gasoline -1.5MM
Distillate +3.7MM
Cushing -1.6MM
The market didn’t like the Distillate build

Lets wait and see, my guess is that on completion of the GE deal we will get a much more detailed picture from the company moving forward, we ain't treading water any longer MRC.

Pelle all we can assume is that the EP be sold at scrap value £230 per tonne less dismantling costs

And you know this how ? At the moment we know nothing , we don't know what percentage of FCF will be used for debt/growth/replacing declining assets/green energy
You guess is as good as anyone's.
It now looks likely we are moving into a period of higher oil prices (Another 7 year cycle) we must take advantage and layout a clear plan so the guessing game is over.
That's when we get our 60p party

Mrc I would also like to know how we are going to diversify into some sort of green energy, all I want is to know what Enquest has planned. If the analysts can’t work it out what chance do we have of attracting large investors?

See , We all have no idea what Enquest plan for the next 5 years are, Large Investors don't speculate, Gamblers speculate !
I don't want to be that gambler/speculater for any longer than I have too, once we have a clear plan set out with oil prices above $65 then the market will give us the re-rate we deserve.

I'd like to think once the OO is done and the GE deal is completed, Enquest give out a RNS detailing a very clear plan for the next 5 years, no more smoke and mirrors, no more guessing games, Just a clear step on how we return to dividends. Now is the time to look extremely attractive to large investors.