Member Info for Krakenoil

Anyone going to the AGM ? Jan, R ?

Pint or 4 afterwards?

With the remaining trading days left this year we still have about £70k per day to spend on buybacks.

Edit that to April

Russia hasn’t helped by threatening to go against their agreement with OPEC and raise production.

Over $10 lower than this time last month, currently hovering around support.

The first phase of the Programme will be carried out through an agreement with Merrill Lynch International ("Merrill Lynch"), pursuant to which Merrill Lynch shall purchase Ordinary Shares as principal (and not as agent of the Company) for the subsequent sale on to, and purchase by, the Company. This agreement will initially run from 29 April 2024 to 30 June 2024 (subject to no regulatory objections or concerns arising), for an aggregate consideration of up to, but no greater than, $15 million. Merrill Lynch will make its trading decisions in relation to the Ordinary Shares independently of, and uninfluenced by, the Company. While the Company has launched the Programme, there is no certainty on the volume of ordinary shares that may be purchased or any certainty on the pace and quantum of purchases.

Voice just wondering if you read the RNS regarding ML on the buybacks, Enq don't have any influence on when stock will be bought or how much, its down to ML to make all the decisions.

ML bought £71.5k worth of stock on Friday the highest daily amount so far.

Still nowhere near enough if they still plan on using up the entire amount in this first phase

A few larger trades popping up today, ML ?

if you disagree with anything coming from the left you are branded as a far right extremist and that tars you with being a ****** now, they've done a good job with this propaganda campaign is working

bit like the knife crime victims moaning about their kids being killed but when stop and search was bought in they jumped up and down calling it ******.

red ed going down the same route and will blame someone else for the blackouts and the mega expensive electricity when the subsidies run out.

my god we need to get back to some sort of normality and common sense in this country before these politicians and university lecturers and the media really frack it up.

I don't think they will and the remaining cash will be passed on to the second stage

like I said they could have bought a fair chunk yesterday but chose not to.

Do they want a cheaper price or are they trying their luck by not paying more than 16.2p

They could damage the SP if not careful and would Enquest be happy with a lower mcap but a higher number of cancelled shares ?

Just tested the water with a £100k dummy sell, mm happy to pay 16.2

Morning R, If a deal is in the pipeline would ML know about it ? Or would that be classed as inside information specially if they know the price could jump on the news

ML is adding to the downward pressure on the SP. ML could have bought a fair amount yesterday between 16.2 and 16.4 but chose not to.

I think we need to stop thinking this first small offering of buybacks will return any shareholder value.

We need to wait for next year when the company is in a much better position to pay far bigger returns.

Providing they actually buy stock on down days and not sit on hands otherwise we’ll keep sliding

Blimey just looked at the SP, Have ML been pushing the wrong button today ?

Evening voice, Do you have to disclose to the Banks and the desk you work for every single trade you make and what you hold ?

The first phase of the Programme will be carried out through an agreement with Merrill Lynch International ("Merrill Lynch")

Does this suggest that ML may not use all the $15m to purchase shares in the allocated period?

I would kind of like my money back and a little profit from the 23p rights issue before bonus's get paid.

Just saying

This is a P1 55 take if you ask me.

So really its only buybacks of £7.3m of buybacks if all the Shares were bought with a average of 17p the other 25m shares will just be changing hands

Mr Hunt must be working for us now "We will add shareholder value with buybacks but we'll give the bought shares away to ourselves later on for nothing, we'll call it a Bonus" -