Member Info for MakeSomeMoney

Ex-div today

Yep agree cta which says to me they are quietly confident of beating expectations this year but too early to commit to that atm. This one needs patience but will come good later in year imo

Some clarification on cash position :
As previously indicated, working capital has increased in the quarter consistent with the ramp up in activity, with the Group moving into a net debt position in the period. Working capital is expected to peak during H1 2023, with net debt in the range $30m - $50m targeted by the end of June 2023, followed by cash generation in H2 2023, with management targeting positive cash and bank by year-end.

I dont think it was the downgrade as such Stupmy. It was the results that triggered this. And we discussed here at the time it may have been down to cash flow levels. I don't think it is a worry, certainly not bad enough to warrant such a sell off.

We are due a trading statement in a couple of weeks...I would hope these concerns are addressed then.

That's about as good as it gets on results day for ENQ holders. Usually SP is hammered good bad or indifferent.

Onwards and upwards from here. Gl

Adamplant.... 4 posts of drivel is see on HBR too. Ignore

Thanks for the explanations on GE poor performance. Wow dry hole on a well known reservoir... That's disappointing and now i understand your point mrc with not being operator.

Sorry catching up on news missed... The OPEC cuts caught me off guard! I need to read up on last few updates again... I seem to remember some better news on Magnus.

Anyway.. Tomorrow we break 20p...onwards and upwards

on what basis mrc?

Did we get done over on this deal. iirc it was a significant drop in production against what was pitched at purchase of the asset. Thanks

Thanks Jan. My first purchase here was at the start of 2021 and ENQ has been good to me since. It's been frustrating but I managed to bank profits at the right time (for a change) and I completely sold out here and HBR when WFT was announced...my thoughts on the company itself had not changed and have continued to follow with interest since. Let's see where this takes us! GL All.

p.s. one question I had...I remember reading a recent update and I though the Golden Eagle production numbers were a let down. Any reason for this and do we see possibility for improvement?

Sentiment change. Was way over sold. I hope you all managed to add some

Been out of ENQ since May last year... I didn't intend to buy back in again but at sub 20p and with the OPEC cuts and the possibility of WFT changes I've dipped my toe back in. GL

Added. Oversold. When this bounces it bounces quick and high.

is it too little too late...the damage already been done?

If they introduce a floor I bet it will be low like $70...will this make much difference?

As much as I would like to get back in here or into HBR...I don't trust the rumours and this government...will continue to watch from the sidelines or now.

Increased my holding here today. Take advantage of the market conditions today

Sad to see this. I sold up out of ENQ and HBR because of EPL but both had a great future and I always keep am eye on news with the hope of buying back in again. Well run and ready to take advantage of higher energy prices and need for energy security. What that government have done is scandalous.

There is just no investment reason to buy back here or any other NS oiler any more. GL to all holders

Fantastic results. This just stays in my portfolio... I don't worry about it... Just pick up the divi and see the gradual tick up in SP.

Share buybacks on way too. Happy days. Whatva steal these were sub £3 during covid. Well done to all holders.

I managed to make money here a while back and always kept an eye to look for an opp to get back in but I just don't see a reason to buy back atm.

I sold over 18 months ago and it seems very little improvement on debt and production similar but having spent heavily on drilling to increase production. Still no realprogress on Kenya.

Not deramping... But why would you invest here now? I may have missed some news whilst I have been out.

Agree way overdone but this stock tends to move quick in either direction. Big shake out this morning. I see Broker rating cut to £3.20 but this is not an update that deserves 20% drop . Anything under £3 is a bargain really considering the where oil investment is likely to go over next few years and also the growth the company are aiming for.

Sell off way overdone imo. They don't need a cash call with the new RBL... The 24.5m i think refers to this statement:
"Hunting ended 2022 with a robust balance
sheet and a total cash and bank balance of
$24.5m (2021 – $114.2m). As previously
reported, on 7 February 2022 the Group
entered a new $150m Asset Based Lending
(“ABL”) facility, which replaced the $160m
Revolving Credit Facility (“RCF”).
Given the “covenant-light” structure of the ABL,
the new facility has materially increased the
Group’s liquidity through the trading cycle and
provides Hunting with a more flexible and
reliable source of committed funding to pursue
new growth opportunities.
In our Going Concern assessment on
page 111, the Directors consider the likelihood
that the Group will require access to the facility,
or any other source of external funding, to
support our existing operations in the next 12
months."

And this is page 111:
" The Group has access to sufficient financial
resources, including a $150m secured
committed Asset Based Lending facility
(“ABL”), which commenced in February 2022.
Throughout 2022, the ABL and the Group’s
prior borrowing facility were undrawn. In early
2023, the Group will temporarily utilise the
ABL in order to fund the Group’s expanding
business. The Group’s internal financial
projections indicate that the Group is expected
to return to a cash-positive position during
2023 and consequently has sufficient liquidity
to meet its funding requirements over the next
twelve months. "

Happy Days. Back in profit here. Well done to those who held on. Onwards and upwards. GL