Member Info for Krakenoil

Looks more like a 28p finish

Bit late now for a green finish! Always tomorrow.

Maybe not then lol

At this rate we might see a positive finish..... +5% will do for today lol

The current downward trend has been in play now since the 21st March, usually they last between 6 - 15 calendar days looking back over the last year or so, Hopefully from tomorrow we might begin the rise back up.

It has to change soon, at some point the market will see the Mid cappers as a good buy, may have to wait another year or so before that happens.

Our SP now is for some reason under pressure, may well be the fact that K is now pumping at near maximum and Enq have no real news left in the pipeline for the traders to get excited over, don't know how low the market will take us now but seems ridiculously oversold now. Our SP is now back to the level of September 17 with Brent at $53 ! What is going on here ?? We are not alone, Tull, PMO and the other Mid cappers all in the same boat.

The correlation between the oil price and mid cap oil stocks has moved apart considerably! Stocks have failed to rise with oil ! Looking back over the charts it has to close up at some point in the near future. Either oil has to drop down approx 25% or stocks need to rise approx 100% my bets are on stocks !

Looks like it’s going to be a very rough day again tomorrow!

Not really ! Needs to pull back to around 69.6

Dow Jones crashing as well !

Brent down 3% and falling !

Brent crashing badly ! Oh well another shite week ahead ! Back to 27p coming again Eeeerrrr.

Enq aim must be to get production up to around 70k later this year ! Also the 20% sale of Kraken will be a massive plus side as having half your eggs in one basket is too risky (straight from the horses mouth) So I expect Enq to use the cash to buy another asset and not just pay down the debt with it. More than likely a bigger percentage of Magnus.

Could remove a large chunk of Debt this year if oil holds or even rises to mid 70’s, $270m pay down in October followed by End of year FCF Plus the amount Kraken sells for ? So realistically our Debt pile could in fact be reduced by at least $500m this time next year along with increasing our share of the Magnus Fields.

I miss those repairer spikes, looking forward to a fair few this year.

Climbing back to have another go at $70, Maybe this time the trap door shuts behind it.

So October will be the first large chunk to be paid off the debt pile, Hopefully another one at the end of the financial year.

Anything will be better than this month, hopefully we can recover back to the mid to high 30's next month.

40 min left to pull up up up.