The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Stevo - how could they push diesel and chemical costs into 2024. Use your noggin lad.
He took control in 2018. Funny how well Gneiss have done since then isn’t it?
Hmm so Fitzy isn’t a major shareholder then?
Fitzpatrick seems to be in the driving seat AA. TR and AR are his men.
Ariel we are in agreement for once. Doug was another snout in the trough. He could have gone a long time ago IMHO. The BOD have waited until they had no option but to get rid.
Gneiss very much still pulling the strings here IMHO
We have the term loan facility now -£150m drawn?
$88 locked in for 0.8mmbbls
Solid update.
Looks like Tom or his retained counsel are busy today
Enquest shares should provide a better return than 13% IMHO.
When a company announces that “all is well” “nothing to worry about” I will be hitting the sell button.
Let these guys get on with their jobs.
Stevo - why don’t you believe what the company is saying about shareholder returns?
What makes you think this won’t be possible until 2026?
Papegoja - what we don’t know is who has been hoovering up those shares sold by panicking small investors?
Is the group really in profit? Doesn’t sound like it to me…
Picked up some more this morning as well…we haven’t seen these prices since the dark days of covid winter 1. Back then oil was in the low 60s and debt was around $600m higher.
Obviously we are paying some tax now and our production is a little lower, but still seems crazy to me that we are back at 14p
Perhaps some swedes have been holding out in hope of a rise to offload into and are finally capitulating?
Steve-o
Enquest have stated quite clearly that their strategy is downside protection. That may change but until I see otherwise my assumption is that Enquest will retain upside exposure.
If that doesn’t fit with your risk appetite then you shouldn’t be invested in my opinion.
Investing on hope that the company have happened to change their hedging strategy and timed it perfectly seems a little foolish!
Insurance always has a cost.
I doubt they would want to be associated with dirty fossil fuels. Far easier to take the tax on one hand and beat the private companies up for easy votes with the other
Lol settle down
Not sure there is much new? Is there a fundraise that TC is trying to get away?
We know gas prices were high last winter, and we know what PMG have produced in that 12 months.
We know that the key projects have evaporated (platypus, Perth).
So from 1st of Jan costs will drop by $308,000 per day, or $112m per year.
Not bad if we get drilling and keep the volumes up.
Stand to be corrected by the number crunchers, From the Magnus prospectus…Hire rates per day are $447,352 until end 2024. From 2025 it drops to $139,860 .