Member Info for Krakenoil

Just playing with Epip I Know what you mean. lol

So its more like $57 BE is what your saying ?

I hope Enquest inform the market on the 21st about Kraken upgrades taking place later this year, I think that with a good set of results will give the market the confidence and price re-rate we desperately need.

The mind boggles at $80 oil

So lets say Enq can pay down debt this year from $51, so for every $ above that figure we are on target to pay down debt by approx. $23m. So in 2019 if we average a realised price of $63 and production of 23m/b we are on target to reduce debt levels by $276m ?
Roughly todays Mcap lol

So if our realised oil price is $68 this year then its possible to drop it by $390m

We are so undervalued !

Hitman, what I should of said to you was, were is the point that Enq have paid all the outgoings to when they can put towards reducing debt, it’s the same as my business, where is the point I start paying myself so I can save up to pay off my mortgage. I know that figure to the exact pound. Bit like a sea saw where is the balance point ?

This was back in late January

Hitman, I couldn't calculate the actual figure where Enq starts to put cash in the bank (After every expense paid) I also thought it was around $67 as per last year but when I contacted IR and asked the same question I got a complicated answer that didn't really help. (Probably cant give out a pinpoint BE figure) So I replied using his information to re calculate but it was looking a lot less than last year and to be honest I don't understand how that can be, so I said in "Layman's Terms" The point we put cash in the bank is about $61 then, His reply was very short but to the point " Less than that" So either he didn't understand 100% what I asked him to answer or we have managed to lower our BE cost.

Thoughts ?

The important thing to remember is the fact we are still producing at least 63k and we are still on target to reduce to debt this year as stated in the TU last month. K is still producing and is due a major top side overhaul to massively increase production rates, Enq have reduced the daily rate to Bumi by a considerable margin. Magnus is producing over estimate so really whats not to like ?

No it doesn’t, Kraken needs to fall in between the guidance the Enq gave for 2019. 30k - 35k is just fine. If your going to post make sure you know what your talking about.

L3 you said last night you wouldn’t comment anymore until the 21st ! Another fib

Small Enq are in a closed period, Directors cannot buy or sell shares during this period. But he certainly can on the day final results are published.

https://www.bloomberg.com/news/articles/2019-03-12/u-s-cuts-oil-production-forecast-for-the-first-time-in-6-months

Crude inventories Crude: -2.6M Cushing: -1.1M Gasoline: -5.8M Distillates: +195K

Thanks DD that’s another drink I owe ya, cheque would be in the post by now but I’m a little short at the moment. I’m going to be a little greedy and hope PMO hits a quid on Zama news, or any news really. Then I can use the profits there to top up here before the bounce hits.

Romaron, Great post but believe me I will be at the AGM this year. I’m a reasonable size shareholder, been here for many years, been through the ins and outs of Enq with a fine tooth comb. How the hell you call me a Troll I don’t know, I hope you replace that as a loyal long term suffering shareholder. I will gladly shake your hand and I will buy you all a drink. I stand by Enq and I stand by AB through thick and thin, sometimes I have to vent a little steam, doesn’t make me a troll. I’ve topped up all the way down from 21p as I believe we are massively oversold, I put my money where my mouth is unlike some I might add.

CNE have downgraded kraken for there own accounts... purely over production rates, so what ! Nothing has changed from our point of view. 2019 guidance unchanged with K production rate due to increase. Enquest should offer to buy CNE out ! I like the Share buy back idea, even £20m worth would lift our SP back into the mid 30’s Come on AB turn this around

L3 why are you here ? Clearly not invested so why keep on ?

L3 has gone into complete moron deramping bullshit mode. lol

Fernon, that’s right you crank up the deramping ! How about you look at the positives rather than making up a load of negative mombo jumbo to panic the already beaten down pi’s.