Member Info for Krakenoil

It’s next year when returns will finally start to pay off

ML will need to double their current daily purchases if they are to complete the buyback program by the end of the year.

Thats got to help the SP move up

Surprised we aren’t a penny higher with the bounce in oil prices

Average price paid 15.63p per share, still over £10m in the pot to spend

At this rate come the end of the year ML will only succeed in using up just over half of the amount set aside.

EnQuest will change the agreed parameters set by ML once this first phase is complete.

Stevo's bought in lol

At this rate ML won’t get anywhere near completing the buyback program

Because it was the Tories that caved into Labour pointing the finger of blame at the North Sea energy companies for the cost of living crisis and it was Sunak who introduced the windfall tax, how can he then turn round and say the opposite.

They should have reduced the EPL rate back to 25% and gave the reason why back in the Autumn statement.

I wouldn’t take what Stevo says as gospel, he’s been wrong every single time, EnQuest BE cost’s have always been around $60bbl and that included interest on a much higher net debt.

Stevo will disappear when the SP starts to move higher, probably working for a large fund holding the Bonds now moving over into the Equity

Media now saying OPEC have given up on $100 oil prices, So that's a negative how ? $85 is just fine and throws a helping hand to the worlds struggling economies

That was a pretty quick drop

Sitting on support now at $78.6

They may not be able to buy today either and if the price ends the day around 16.4p or above they may not be able to buy tomorrow unless the price drops a little

The current parameters in place for ML to buy stock can and will be changed after the end of this first phase ending the end of June. I'm expecting them to ramp up thereafter.

Agree to stick with the cut until October when the will be unwound to balance rising demand.

Bullish

I’ll supply the cable, glands and fixings for GBE . The amount Labour are going to need cable prices are going to rocket.

Miliband can give me a slice of the pie

Well enjoyed the drink with the EnQuest investors yesterday good to meet you all, then sunk a few pints with Ron afterwards could have easily walked out of that pub at closing time hanging lol

I get the feeling that the new green energy company (subsidiary) is there to tick boxes for certain funds that have restrictions on investing in energy companies who’s sole business is oil, but if you have both let’s call it a Hybrid then that’s perfectly fine. Certain Italian car manufacturers do the same thing with the electric motor being to main power plant and the massive 750hp flame spitting engine to back up the battery when required. Ticks all the boxes and is classed ULEZ compliant

On my way home from a very interesting and enjoyable AGM, all I’m going to say is” Don’t take any notice of Stevo.

Enough said.

Well happy

Will the market reward the big debt reduction - it should be adding £66m to our market cap.

Why isn’t it that’s the question I want to know but that’s not for AB to answer

Great update, a larger debt reduction is a very nice surprise as wasn’t expecting that.

Strong fundamentals and a great strategy going forward

Will the market sell on good news - historically yes but not sure this time.