Member Info for MatrixObserver

Same to all, have nice break... MO has succumb to power of rose' If Kraken does what is expected, think ENQers can expect a very pleasant H2... Obviously ultimately depends on Poo Gods !!! FTSE 250 is still MO's target !!!! Things MO is looking forward to in H2... - Alma wells x 3 ESP fix (will be good to see Transocean Leader back, and more frequent tanker offloads) - 2 x PM8/Seligi new wells (just to see how perform) - Magnus performance following 2018 drilling program (again is interesting) - DC4 SURF and subsea with probable drilling (ohhhh yeahhh) Is a bit to keep observant for in H2... Good luck all MO

Cheers romaron... Little more data for those interested... Kraken has moderately viscous oil @ 78 � 161 cp Other heavy oil comparisons: - Alba 7 cp - Captain 50-150 cp - Mariner Maureen 67 cp - Mariner Heimdal 508 cp - Bressay 540 cp - Bentley 1500 cp Government of Alberta classification - "Medium Oil" 1 � 100 cp - "Heavy Crude Oil" 100 � 10,000 cp - "Tar Sands & Bitumen" 10,000 � 10 E6 cp MO

Have good time FK.... "801 flowing" RNS by the pool, niiiiice :-) MO is green with envy, nearly as green as A5's oil ;-} Cheers MO

Hey KO, hope well... Think June 5th for #17 offload would be pushing it, as would only be on 9/10th day since last tanker departed 1pm on 26th May. Would hope to see en-route some point on 5th for super contentment... Have been looking at Captain development details, is similar to Kraken but slightly lighter crude... Has been producing since 1997, has had a couple of phases added over time but is still producing in the 30ks. Is a good model... MO

Hey E121 Did you know that first 2018 Magnus well (211/12a-M62Z) was 7.6km in length.... I heard mention is 3rd longest drill ever in UK, not sure if correct, is defo a long drill though... The 63 well is not currently showing in OGA well database, it does lag sometimes by many days though so may well be under-way Can see if lookup licence P193 at https://itportal.ogauthority.co.uk/edufox5live/fox/edu/WONS_WELLBORE_SEARCH_PUBLIC Also can filter by spud date > 01-jan-2018 to reduce data returned... Good luck MO

Is like MO's Ramadan MO can only drink when shuttle tanker arrives ;-} Hoping for a tipple around 7th June Trying to get some AIS info for Seligi drill, did see briefly for a few hours, but is very dark for real-time AIS in Malaysian basin... Come on super ENQ, please don't make MO wait too long for next tanker tipple... MO

LOL Jan Think correct, not had any for 6 days.... Giving tummy+internal organs a break.... Think need it :-) Best wishes MO

Morning all.... Very late night... MO knackered this morn... Magnus 25% cont'd... Is 11 months interim, not 12.... i.e. 1-Jan-2017 to 01-Dec-2017... If continuing on December's margin and excluding new drill CAPEX ($??? per drill gross)/Brent Poo +30%/Ops efficiency, think would be about $50m outstanding as of now... Think should be starting to accelerate with current levels... Too much maths for Friday morning ;-} Good luck all MO

Defo will be watching Star Trek in a mo... just listening at the mo, lol Think understand now... reading this section of report... "The base consideration was $85 million, which was adjusted for interim period and working capital adjustments since the economic date of 1 January 2017, resulting in contingent consideration of $66.6 million." So in twelve months since effective date, ENQ have reduced the 25% consideration from $85m to $66.6m Hope finally understand... Cheers all MO

E121 from glossary on FT article... "Economic Production" Production to which the Company has an economic entitlement. It includes production between the effective (economic) date and the completion date of an acquisition. Accounting production excludes all pre-completion production. Only ENQ know for sure, otherwise why have an effective date, plus sure have heard ENQ clarify in webcast at some point... If thought was good deal in Jan 2017 when Brent Poo was circa $55, must think is very good deal @ $77 Best wishes, time to watch some Star Trek Cheers MO

Not sure I totally understand E121, is ok brain entering shutdown mode Am just reading from the previously posted RNS and Acquisition Presentation. http://www.enquest.com/~/media/Files/E/Enquest/2017%20-%20magill/MagillEnQInv_lowres.pdf Will leave the nitty-gritty to contract accountants... ;-} Good luck MO

Hi E121 Please see RNS dated 24 Jan 2017, under "Transaction details" Link: http://otp.investis.com/clients/uk/enquest1/rns/regulatory-story.aspx?cid=201&newsid=838761 i.e. - Effective economic date is 1 January 2017. - The transition for the change in operatorship is anticipated to between 6 and 12 months. It is paramount to EnQuest and BP that we maintain safe operations and a smooth transition. - EnQuest's acquisition includes interests in the Magnus and South Magnus fields. EnQuest will also be acquiring a 9.0% interest in NLGP and 3.83% interest in NPS and will become operator of both of these pipelines. - In relation to the 25% interest, the assets to be acquired were valued at $230 million in BP�s balance sheet as at 30 September 2016, with a loss before tax for the year ended 31 December 2015 of $31 million, which includes the impact of impairment reversals of $13 million. Is a good deal... MO

Cheers E121 Have had approaching 18 months of repayments since 25% effective date of 01-Jan-2017, when signed in Dec 17 Brent Poo was $63, so hopefully repayment has accelerated as should also start to feel operating and production efficiency savings coming through as better return per barrel. Is hard to call, can see both sides, think will trust AB and ENQ to make correct call, as far better vision of situation than MO. Good luck MO

According to OGA well database is now complete.... Think rig going soon, if not already, seen tugs a couple of days ago... Hope enjoyed first unofficial day in FTSE 250 with all those tracker funds needing to buy :-) Save some for ENQ later in year ;-} Good luck MO

Think will probably wait until Jan 2019 for Magnus 75%, as currently BP helping with CAPEX for new drills. Can remember AB rationalising it during Jan 2017 announcement or maybe a webcast later... Might change if Kraken gets 20% farm-out, think is steady as she goes... Good luck all MO

LOL Indy0105... MO trusts AB to sign-off when happy Bumi ready to take over operations and AK is performing optimally. Realists' like MO will let tankers do talking ;-} MO will be happy if rest of year AK does 40-45k, 50k+ will be bonus, DC4 will add maybe 8-10k+ late 2018/early 2019 Will obviously continually observe AK and how things look at other assets... Good luck MO

Seconded KO, cheers for sharing... "The reservoir pressure is now being raised and all wells back on line will see production raised further than the start of the year," Tis music to MO's ears :-) Best wishes, hopefully ENQ next for FTSE 250 promotion !!!! MO

FK MO will definitely miss your positive mental attitude when you're on your hols... Please take mobile device so can send some sunny posts, think maybe gloomy without you.... ;-} Please don't go, don't go away :-) Think MO will keep head down... Best wishes MO

Hey JoeSoap.... To MO, CASP are pacing themselves to bring the deeps within current cashflow and trader advances... They are so close now, I feel they are learning, better mud etc, it has been about 2018 for a long time. Hopefully CASP can deliver as MO thinks will... Good luck MO

Would be nice to see some maps and seismic for 3ab licence area... Just to get a feel for it, similar to what's been provided for BNG, also info on the two previous drills. but can wait !!! Maybe we won't see it until deal is done... Hoping it's no distraction and CASP's full focus is on BNG for current and near future activities. MO