Member Info for mrc_mrc_mrc_mrd

Aimster - what about the millions paid to related company Gneiss? What value did that deliver?

AB is 100% right not to state net debt.

We had that last year where year end had at least a million barrels sold that were not produced in that quarter. Luckily at a much improved price!!

It is definitely material cash flows, and net debt does not tell the full story.

We also know that debt can be fully repaid out of cash / hedges so there is really no need to state it. Production numbers tell the story and we also have capex and opex forecasts.

Agree with AB on the net debt. Silly to announce quarterly.

Lol good question pelle!

You have to applaud AB really despite historical misjudgements / timing / luck.

He has kept the show on the road and ENQ now well positioned to provide shareholder returns. I can’t think of a better value share for the low risk.

lol, no wonga these days and even the provident is on the way out!

Where will hopeless gamblers get their SCIR top up funds now. I don’t got no amigos to guarantee me :(

Excellent post aimster - they will find some excuse for not delivering. And many here will buy their bull**** again!!

Oh dear Chris....you don’t really believe it is “manipulation” do you?

At the end of the day, buyers were not willing to pay as much, and sellers were willing to accept less. It is quite simple.

Chilting - we speak all the time about stuff happening.

With cost cutting more stuff will happen.

ENQ do well to set guidance that is achievable, even if, inevitably things don’t go to plan. They are right on the raggedy edge this time but I take confidence from the reiteration of guidance. If this was a long term issue they could have reduced the range in this update.

Sounds like gas import issues at Magnus?

Operating and capex lower than last year - 22.9p per unit at low end of guidance

Assuming overhead costs added to that largely unchanged then unit cost looking to match last years figure.

Should realise minimum of an extra $20 per barrel of pure profit this year with the hedging!

Production within target
No major outages

I knew who started this thread at a glance.

Yes folks looks like KO is on the short side again.

The last refinance spurred the SP.

I can’t see what will not be to like tomorrow if they reiterate production guidance. All of the bad news is already out there.

This is a really good recovery story now. SP is in an uptrend. I think we will be OK tomorrow, but of course you never know how the market will react. Hopefully it will be a blue day in general markets to help us along.

Brent looking blueish

https://itportal.ogauthority.co.uk/eng/fox/path/PATH_REPORTS/current-projects?PATH_PROJECT_ID=111

The field is appraised so there won’t be drill or drop type commitments that come with exploration licences.

The OGA want to see this developed so it will be a collaborative approach with Enquest. I doubt there will be any near term commitments, though enquest might spend some money working on new concepts and a FEED fairly soon. Not significant spend.

I expect the existing draft FDP will be put in the bin and a new area plan developed. Major capex is a few years off.

Flosoffa is a blast from the past

I think targeting more than. 6 bagger is just greedy.

Take it off the table and put an end to placing sand death spiral finance (for a few months at least)

Hopefully, still seems like a very good price to me. Get out while you can territory!

I think that is unlikely, but can see someone wanting a piece and opportunity to buy a large chunk.

Low / no discount would indeed send this into orbit. I would prefer the starting price to be a lot higher, but it’s only 50 mil.

I think predicting net debt reduction by quarter is a little bit pointless. We don’t know when cargoes are sold or when invoices come due.

But I will play along - $90 million reduction.

Production YTD 47kbpd