Member Info for Krakenoil

Romaron - I have a sizeable investment in Enq and I can Guarantee 100% I will be attending the AGM. I will be the one asking AB what is Enq hoping to achieve in the next 5 years.

U.S. CRUDE INVENTORIES RISE TO HIGHEST LEVELS LAST WEEK SINCE SEPT OF 2017

Crude: +9.900M Cushing: +0.265M Gasoline: +0.917M Distillate: -1.307M Monumental build

Too bring us back inline with PMO and Tullow compared to last year we should be sitting at 36p. Nothing has changed apart from Kraken almost up to plateau production, Magnus exceeding forecast production rates and our Debt falling by the day. So why 20p ? The risk has not increased and the price of heavy oil as closed the gap to Brent.

Looking at the company fundamentals compared to the others this is so undervalued its bordering on utter MADNESS !

I'm waiting for another broker slating to appear ! That's usually what we see when our SP falls fast for no apparent reason. Oil still in the weekly range and none of the other oillies have moved like that.

This is ridiculous, I don't believe they are hunting for volume Jan, something else must be driving this. No wonder we have no Investors ! Who the hell wants to invest in a main market stock that's more volatile than AIM

Anyone know why we are down 5% ? I cant find any news to justify it

WHAT NOW !!

Now back to the same point as we were when K had all those problems at the start of the year and when Brent was $55, makes no sense at all !

That's a weird start to the day ! MM taking out the tight stops ? No volume again

Hook up at 6am bang on

Looks to me Trump is desperate to keep a lid on oil prices but without too much spare capacity it’s going to be tough. Any slight disruption to supply now will be the catalyst for $80 oil again. US driving season underway so we should start seeing large draw downs from next week.

Hook up looks like within the hour, About 2000ft away at the moment

And Saudi reduced oil exports to the US to the lowest level in years !

The other big number from the @EIAgov Petroleum Supply Monthly report is U.S. oil posting the 2nd month-on-month consecutive decline at 11.68m b/d (that’s a chunky 300,000 b/d decline from the record high of Dec 2018

No need for the Saudis to do anything yet ! The market looks well supplied, 2nd large build in a row.

6.81m build ! ....... hmm I smell bullshit

Bloody lucky we didn’t buy it with all the problems it’s had, Bumi taken a hit on lease income and also had to carry the cost of ongoing repairs and also finding top side rework in Q3 this year.

Harry The FSPO lease is part of Enq Operating cost, that like saying we need 10 staff for the year at £50k each so we had better add £500k to the Debt pile !

The oil market is a joke at the moment. Obviously the figures for tonight are bad then.