Member Info for Krakenoil

Great to see you back in with confidence Chilting, We knew you couldn't resist.

With such low volume how are we going to breakout this pit of despair ? We need daily volumes to increase to around 10m, I just can’t understand what’s holding back buyers, maybe it’s the old saying ( If it’s too good to be true ) But it actually isn’t we are a fracking steal

Will they pull us back down later ? Volume looks low still so it’s possible

Brent About to have another crack at $70. If they report a large draw tonight then $70 should go easily, set sights on $75

https://www.bloomberg.com/news/articles/2021-05-17/the-u-s-travel-rebound-is-leading-jet-fuel-s-summer-surge

Doubt you'd be saying the same thing Squif if Brent had been above $70 for the past 5 years . You'd probably be kneeing in front of him mouth full

We ain't going anywhere, No volume , no buyers. Such a different market from 5 years ago. Brent looks to go above $70 again later, demand for Jet fuel is rising fast but still we are stuck under 18p, Its not just us, overlaying most oillies on the chart we have all more or less followed the same pattern...... Down over the last 5 years

Jan 2020 we were 30p with Brent at $66 .
How badly undervalued are we or have our reserves declined badly , or is this just being held back based on the upcoming re-finance

And you all have a go at me for losing it :-)
Romaron is a cool cucumber, hasn’t lost it yet

As soon as the deal is announced the SP will re-rate quickly. All depends on how much of a cash call the banks want. I’m hoping for less than the $50m that was announced when oil prices were much lower.

https://www.api.org/news-policy-and-issues/blog/2021/02/24/is-the-world-about-to-see-an-oil-shortage

If he is trying to keep a lid on the equity it helped me out. We all know the Mcap is ridiculous with current fcf so sooner or later it will jump.
I’m very well positioned to take advantage and I hope AB will announce plans to reintroduce dividend payments down the line as this is why we all invest. It’s why he is building a huge stake otherwise what’s the point, his £30million hasn’t returned him anything but a loss currently and I doubt he’s very happy about that, but he knows patience will pay out. His £30million will be worth £100m come our 60p party and a yearly dividend of £10m will probably make him pretty happy, would me

We all got bitten but it was bad timing and like you said before it was from a position of weekness, Enquest isn’t in the same position now. We are on the verge of a re-rate and refinancing is holding the market cautious. If the refinancing deal changes due to not requiring a cash call then the equity will fly and you know it.

I think as we move closer to a GE and refinancing deal completion they won’t be able to stop the information from leaking as so many people will be involved, we will see daily volumes increase and our SP start to move up as long as oil doesn’t drop.
We are currently way undervalued but once Half year results are published the market should respond positively, dilution will be minimal

Going to be a fight, can’t see Cairn getting anything out of India

Maybe re-fit the EP and move that straight to The fields, how many risers would we need to get production high enough to make it worth while and then we could use the cash flow to fund further wells and risers.

They say that both Bressay and Bentley could be the same oil field so maybe moving AK in the middle of both of them and even re-fitting out the Enquest producer to Kraken to see out the decline of the field. Would certainly under pin production for a further 10 years .

Would it even be possible at that distance from Kraken?

That’s incorrect Kraken peak production was meant for a couple of years and then would start declining over 20 years. We only hit 50k once if I remember so now peak production is for 35k but for longer before decline. The Armada couldn’t handle 50k reliably.

US rig count +8 - here they come