Member Info for Krakenoil

Its why buybacks start slow and ramp up over time

Not really anything new there, British banks haven't financed oil and Gas for a few years now, they all went woke years ago.

Stupid thing is they all lend to the airlines that burn tons of it and without it they'd go bust, you would have thought they would look after the very thing they need most.

Bit like JSO trying to kill off a industry they all rely on for food

Jeffery we are all in the same position but that's not his problem is it, So why are you not outside parliament shouting and screaming about it then? Why should it be down to him to do it.

Jeffrey What else do you want him to do then ? He’s done everything he possibly can other than stopping this government throwing us under the buss

Horse Hill has always been in the spot light since David Lenigas conned the markets into believing UKOG had found the largest oil field in the U, Its been under attack from the local residents ever since

ML has £10,097,243 left in the pot, 135 trading days left to spend it, that's a average of £74,500 per day, not easy on current daily volumes.

If Labour do give the sector anything more positive than we are currently expecting it would finally light the touch paper

I think the traders/sellers who chose to exit after labours manifesto was published last week are mostly cleared now, ML happily mopped em up and the ones sitting on the fence may decide to sell before the election will also be mopped up by ML, Like you say not much will happen until Labours first budget, in the meantime we will carry on the plan of reducing net debt and looking for the right deals

Morning Ron,

You could well be right there as mentioned at the AGM that the bond holders are moving over to the equity, low volume during the day then that large UT pops up followed by the RNS this morning showing ML buying a large amount just below the days high, are ML working along side the Bond holders ?

Stump - You posted this this last week

"But I've bought on the drop around 15p. I've 'rounded up' my numbers. but still view the possibility of a downside risk. What a shame we can't actually see into the future and are forced to make decisions without having enough information.

That wasn't one of your best trades was it, You need to leave buying stock just before it tanks to me, I'm bloody good at it.

During the AGM AB mentioned something about the EPL being reduced within the next 2 years or they (The industry) think Labour will reduce the EPL within 2 years

Ron do you recall what AB said ?

Once Labour get the keys to number 10 they will back track on most of their pledges

It would be economic suicide to kill off north sea economy

Fridays was the largest amount of daily stock bought since the commencement of buybacks

At least they are taking full advantage of a fearful market and we still over £10m in the pot to spend within the next 6 months.

So the EnQuest producer is valued higher than our market cap lol

Bonkers

Modest You do realise there are restrictions on our bonds so we cannot just pay them off without paying the full term interest, so what’s the point in that, we have enough cash/funding available to buy assets to make use of our Tax credits. Thats AB’s plan

EnQuest are aiming for a daily production of 75k by adding producing assets

good god stump, equity raise ! you must try harder, we are already well funded to buy producing assets and we are looking for the same sort of deals we have at magnus that don't require cash upfront.

i'll just remind stump as he chooses to post **** as always - liquidity c.$534million at 30 april providing a platform for transformational transactional growth, enhanced by enquest advantaged uk tax position

Don’t you read the updates and what was said at the AGM

EnQuest - What we saw across the sector yesterday was an extreme reaction to a reiteration of Labour rhetoric. The battle on investment allowance removal still exists and is yet to be resolved

Our strategy holds firm in spite of this chastening period.

NO

Labour have managed to wipe off $50m from our market value this week alone