Member Info for Krakenoil

If we can’t on sliding as we have done over the past 4 months we we be at 4p

This is getting worrying now.

I don't understand Labour and JSO wanting to kill off a oil and Gas industry in our own waters that produce the lowest emissions and are one of the cleanest highest regulated in the world to then want to import from countries who have zero regulations and couldn't give a shi1 about emissions or about damaging environments and on top of that have to transport it using dirty tankers to deliver it here. Then pay over the odds for it.

That is the complete opposite of growing the economy and looking after the environment.

Stupid is as stupid does

Someone must challenge the windfall Tax(EPL) in court.

Its already claimed victims.

How can you have a spare of the moment Tax that sends companies into administration within months of its introduction.

That's got to be unlawful. How could any Judge find it acceptable ?

Https://www.dailymail.co.uk/news/article-13888139/Bonkers-plans-hit-net-zero-2030-1million-jobs-push-bills.html

Stevo There we are ;-) I knew you were here for the equity, we got there in the end.

So you think we are close to the bottom and considerably under valued as why you’ve chosen Enq to invest your hard earned.

I have faith in AB and soon our disappointment will turn around. Next year is a game changer for us we just got a lull to wait out. I have a few more quid to throw in here but I’m going to wait a little longer before I do as my previous record of buying stock is as good as Ed’s singing

Always a good sign when the trolls turn up.

Agreed Dumbly. The question is will Labour want take the risk of being the party that shuts down our Steel works, our refineries and our oil and gas industry? I’m not sure they really want to be going down this road but now stuck between a rock and a hard place. They must ease the strain on the industry quickly or face the backlash

In 5 months we have lost over 50% value to our SP.

Thanks to our governments

The industry surely has a case to take to court

BTF - How much are you trading ? We have no volume to do that, Try trading £10k - £20k worth you will certainly lose money specially with the current spread we have.

That cant happen until April when the Kraken lease drops by 70%.

We have another 6 months to wait for a nice Dividend to be announced but first get this "transformational deal" over the line whatever it is.

Not sure what defines a Transformational deal !

Just £75k worth.

Approx 7,500,000 share traded today so no excuses for ML not to have bought a big chunk today

So we hit another yearly low today, nothing nice about that apart from ML getting a lower price to buy at, that’s if they have been buying today. I won’t hold my breath. The buybacks aren’t helping us at the moment

What will that achieve Jeff ?

We somehow pull off a large non cash upfront deal, Labour reduce the EPL charge (Ain't going to happen) and oil prices jump back up towards $100

Our ducks were lined up but have now been placed in front of a firing squad

Its all about this "Transformational deal"

Do we actually have a deal going through or is this just a rubber ring that we have been thrown to battle another period of rough waters ? This transformational deal is dragging along and is now being questioned by the Analysts.

If there is one going through we could do with a not so tight ship right now. A slip of the tongue would calm us shareholders down a bit.

Why is it only us that take the hammering. Capricorn had the same downgrade today but their SP hasn’t budged. They also suffer from low daily volumes but it doesn’t get the big spread like we have.

This feels like 2016 all over again.

Https://oilprice.com/Energy/Energy-General/Trouble-Deepens-for-North-Sea-Oil-and-Gas.html

Analysts from BofA Securities in a note dated Wednesday downgraded EnQuest (LON:ENQ) to an “underperform” rating from “neutral”.

This decision arises from a combination of factors, including the ongoing impact of UK windfall taxes, declining oil prices, and a high oil price break-even point of approximately $70 per barrel.

Despite strides in reducing debt—about $1.5 billion since the end of 2017—EnQuest’s free cash flow generation is anticipated to face pressure from lower oil prices, within BofA's base case scenario of $75 per barrel of Brent crude.

The downgrade of EnQuest underscores its relatively weaker position in the current lower oil price environment. Although the company successfully achieved a target of less than 0.5x net debt to EBITDA, analysts noted the headwinds EnQuest faces, particularly from persistent windfall taxes that continue to diminish its cash flow potential.

Absent mergers and acquisitions or a substantial shift in market conditions, EnQuest is forecasted to encounter challenges in finding organic catalysts for growth, particularly when compared to its peers.

As a long term shareholder this is just savage watching the value of our investment being destroyed.

There must be an imminent deal being finalised and this is one of the last pieces of the puzzle.

It can’t to too far away.