Member Info for Krakenoil

That's one possibility but Kraken is not a failure, may not be producing at desired rates yet but its far from a fail, The RI paid for the Magnus deal to be done but f you over lay the historical charts, that hasn't been priced in either. I just cant explain why we are sitting at 3 year lows, either we are being set up for a humongous bounce or we have some other bad news lurking that the likes of us don't yet know about.

Chilt I just cant understand what's going on here, compared to when we were on deaths door back in early 2016 with Brent in the low 30's and production in survival mode this makes no sense, compared to all other mid cap oillies in the same position as we are, our market value is 50% down on where it should roughly be. What is driving this and why ? This risk factor is much lower now compared to the previous years but now I find myself more worried than before.
Thanks Enquest ! You certainly know how to keep your shareholders chewing their finger nails off.

It does look like RBC and Barclays are going to get their target at this rate. We must have a large seller in the background because we shouldn't be sitting at 18p. This just doesn't add up compared with historical charts

Squif we Can’t have green days with Enquest it’s against the rules

Yeah but action speaks louder than words

Can I just clear this up. The problems Bumi and Enquest have is the production rates from 35k to 50K, the FPSO cannot reach plateau rates ! YET. We are not talking about the FPSO not being able to produce up to 35k as we know that's been reliable ! That's why Enquest have given the guidance figures for 2019.
Its the 15k loss thats the issue ! We know the FPSO can pump at plateau rates and get the fluid on board but cannot seperate the oil from the water quick enough.

L3 are you having a laugh? Blimey you know it’s Bumi’s responsibility to fund it otherwise they wouldn’t give a shit would they !

L3 I would imagine everyone known that Kraken has had problems from day one, it’s nothing new is it, if Enq have said k production will be 30 -35k then why question it ? So it looks likely that H2 production will be a massive improvement on 2018 and H1 2019. Shut down for maintenance was the same time last year as well bought on early by the beast from the east, I put money on the next off load will be around 16 days

L3 obviously sold out ! Now doing his very best to bash the stock ! If the Boat is unfixable then what’s the point of DC4 ? Come on don’t be bloody stupid, the boat has in the past produced 50k so the actual mechanics can do the job so now it’s been run for a period of time they must know what needs upgrading. I’m sure Enq will get the job done

Afternoon Jan, L3 is correct on one part and that part is the lack of communication, we all know Kraken has serious issues so why not tell the market what is being planned to resolve the problems and also how we move forward with Bumi and the lease rate. Letting the market fester into panic is not the right way to treat your investors. The company must move forward and sort this out, things move on, the internet, chat rooms, social media are here to stay.

Squif he steered the ship through the period of low oil prices and increased production by 100% when other companies were dropping like fly’s, I’m sure he will sort this issue out !

The trouble is with Enq not using social media or regularly updating the market in times of fear is that everyone lets the fear take over from fact, like RBC with their analyst getting it completely wrong and having to apologise for a damaging story ! Why the hell don't Enquest be more open, the unknown is worst than bad news most of the time.

Those figures don't match the Enquest web site major share holders percentages

No these figures are not down to the RI as AB Took 100% of his. Not just 2.66%

Just announced its pulling its 1 trillion dollar wealth fund out of oil stocks !

MO I hope your right, we need regular off loads 12 -13 days apart

Lets hope Enquest have completed the maintenance shut down during this period. We cant afford any more shut downs unless we get 50k from the start of H2 for the rest of the year.

This is looking strong now. Once the oil price bounces later might see a push towards 83p

Enquest have to get tough on this and the only way is to stop all payments until this turd is reworked to do the job it’s made for

Enquest should stop all payments to Bumi until the Armada can reliably produce 45k ! Why should Enq pay for something that doesn’t work !