Member Info for mrc_mrc_mrc_mrd

Lol

Yes you keep telling us what you expect...problem is the market seems to be confounding your expectations!!

It's not often I agree with Romaron!

There is a lot of fuss here over $50 million dilution for a company with an EV of billions and free cash flow of about half a billion.

I would like this to drag out for a month or 3 until we see what brent is doing. We may not even need the extra cash, or it may happen at a significantly higher share price.

You sound a bit desperate mate.

This will still rise with brent and re-rate IMHO.

The need to go back to the banks is Covid. If POO at $70 last January had persisted through 2020 the RCF would be repaid.

HOWEVER - we would also be paying a lot more for this.

AB has done well IMHO to keep the company going. We now have much less exposure to the risky older assets. Our barrels are cheaper to produce.

Whatever you think of the update, ENQ has always been about POO, which is currently looking very bullish.

What isn't clear to you Kraken?

I agree Jan.

This feels like 2016. I think we will see a strong rise now the plan is clear.

Well for all the anger on here the SP has barely moved.

Good sign IMHO. Just PIs blowing off steam. Hopefully that is the stale bulls cleared out.

Back to where we were before yesterday's rise.

Chilts...I am all for renewables but ENQ cannot add any value.

ENQ goal is (and should be) to sell as much oil as possible in the short term. By all means begin to develop a more sustainable business for the future, but the focus in my view needs to be on low cost production and the cash generation that is possible in a high price low cost environment.

If Brent can average $65 long term then ENQ are very well positioned to repay debt and begin to return funds to shareholders or reinvest in renewables etc.

GKB - take responsibility for your own decisions. You made a bad call in 2018, and again last year holding on for the drop from 30p. You seem to wish the company and current holders ill. Presumably out of spite?

Says it all really.

Chilting - another disgruntled former holder burned at the 2018 rights issue.

He got it wrong then and he is getting it wrong now.

The guy thinks enq should be pumping CO2 into their wells FFS. Zero credibility.

Great opportunity for recent and new investors.

Yes golden eagle reservoir underperformed at startup but that is obviously a known quantity.

It is a modern platform so very low maintenance burden. The topsides have performed well and production efficiency is reliable. Operating costs are low and available capacity will reduce capex costs. That is reflected in the relatively high price per barrel 2P.

It looks like a very rapid payback at the current brent price

Hardly a disaster.

Lol chilting

Enquest is a cash cow at current brent and production costs. The deal is small potatoes in comparison to FCF and EV.

What have we been talking about for the last 12 months.

Repayment of the RCF. Buying more production.

Did anyone really think we could do this without an equity component?

This looks like a knee jerk reaction. Should repay debt rapidly this year even with this additional spend.

Chilts - I'm already in Profit.

Suspect this will rise through the day and finish blue.

Some rather obvious deramping going on. A placing is almost always bad news but in this bullish market I see it as a good thing. We have signalled our intent to grow and take risks. And we will be sorting out the immediate debt problem which has been putting the brakes on the SP

Market I believe has fundamentally misjudged this update. I have sold some other investments at a loss and bought below 13p here. Suspect this will rise as what is happening becomes clear.

I see this as a 2016 style transformational and company saving deal.