Member Info for mrc_mrc_mrc_mrd

Hi laid-back - kraken oil is very low sulphur and can be used as an IMO2020 compliant fuel in ships with no refining - just some blending to reduce sulphur content

Enquest have been selling kraken oil directly to bunkering companies. We get name checked in this article and there are a few others if you search kraken VLSFO

https://shipandbunker.com/news/world/556029-shipowners-buying-raw-crude-to-use-as-imo2020-bunker-fuel

Yikes - $69 for a barrel of VLSFO!!!!

Kraken must be worth mid 60s surely

Thanks Pelle - I see the premium has narrowed slightly in January - December was a massive premium though!!

Ill need to get my calculator out but looks like a good $5-$10 on brent

Looks like it is outstripping brent even!

Nm

That's usually when things start to boot aff on this share IMVHO

Is through the blooming roof!

Doubt they will be able to keep a lid on this much longer. Hopefully brakes come off and we get to 15/16p today

All depends on POO outlook. As they clear the debt we should see most of that added onto the market cap. There is obviously still some risk priced in here as well so as it becomes clear that debt payment in October is going to get paid we should see a re-rate.

£1 billion by end 2021 sounds reasonable

Looks like she could break through resistance very soon

And the SP hasn't flinched.

Floor established now I would say. Just waiting on the results now. Maybe a 30% drop on duster but upside 2-3x IMHO

When was the last offload and are there any tankers heading Kraken?

Pleth - yes the 40k is roughly what is left for ENQ due to their financing facilities (e.g. BP get 50% of FCF from Magnus)

As hitman says I think it was L3 that did a good post on this recently.

Hi pleth - same here - sold high 20s last year when it was looking tippy toppy, and just bought in last week at 11.5p.

I think they can repay in full without a cash raise.

They have non ringfenced cash of around $190 million which they could dip into of FCF doesn't quite do it.

My assumption is 9 month average realised oil price of $60 ( including kraken premium). 40k barrels per day. FCF BE of $25 per barrel. This gives 9 months FCF of $383 million.

It assumes a marginally better FCF BE than they have targeted but it is do-able IMHO.

Maybe farina follows the Baron?

Tasty little buy from a director just as he is selling off!

Consolidating nicely!

You want these little pauses on the way up

Nope, and it is completely immoral to be drawing huge salaries while we wait and see. If they are not adding value they need to go.

Farina sits on the Audit and Safety and Risk committees for ENQ.

Clearly she is happy with where ENQ is going!

Yep - nice to see a substantial buy on the open market by a NED.

Shows confidence in what AB is doing

Agreed Steve, and I think the momentum is now moving towards putting pressure on the BOD.

We need an update on the strategy which is in tatters.

I now have no idea what the company I am invested in is trying to achieve.

Lol Romaron, you are a real clown.

Can't export wind but can export green amonia etc.

Also let's start by powering our own grid before we need to think about exporting it.