What nobody seems to discuss or consider on here is the potential for ENQ to acquire more producing assets. It's no secret that ENQ has been at the table for recent deals - ENQ needs to continue to build production - doing so via the drill bit is part of the equation however I figure that acquiring BOEPD via producing assets has to be part of the plan. It's what kicked ENQ off after all. It is possible that ENQ has gotten / will get further ahead with timetabled debt repayments such that they have free cash to play with for a period, within which a significant acquisition could be made..... I'm not qualified to state this other than an opinion, but ENQ production profile is too fragile IMO for them to consider divis - I would imagine that increasing / shoring up their production will be higher up the wish list. Just my thoughs - DYOR.
Jaysus Hannon is nippy - that's him filtered, thank goodness for that. He's actually the only one in my cage right now - not because of any contrarian view, just because he is extremely annoying. Imagine actually knowing and having to put up with someone like that in real life... Do you reckon he is popular at school? I am sure once he attains adulthood he will settle down.
Hannon - there really is no requirement to arbitrarily criticise another poster because his or her financial gains are inconsequential to you. I am pleased for BTFATH1 that he is enjoying trading the share and making some profit - are you so unfortunate that you can only take pleasure in arguing with people you do not know? For a guy who has no money invested in ENQ you sure get emotional about the share. Have you really got nothing better to do than watch this board seeking an opportujnity to criticise? I feel sorry for you, you must be very lonely.
I don't post often but really am appreciating the detailed analysis - thank you to the contribuors. I have a small holding here - I invested in 2014 and have an average price of 35p. I have decided not to reinvest to bring that down, based on broader factors such as portfolio balance. The question I have is around the sustainability of production levels from existing Kraken wells, and how that may play into CAPEX requirements. Does anyone have insight to anticipated production curves from the existing wells, and / or any plans that may exist for replacing depletion through the drill bit? A common theme on this BB is that nobody can believe how undervalued the company is. Can anyone comment on why this is, aside from generic "market sentiment"? Is it possible there are technical indicators (e.g. well performance / production curves) that point towards the potential requirement for CAPEX investment that has not been anticipated until now, i.e. now that the wells have been flowing for long enough to understand them? I declared my position as an investor in ENQ so that it is clear I am not deramping, in plain terms, I just don't get why the SP is languishing below the RI price and it leads me to consider whether or not the market knows something we don't.
Hello experienced investors. Not being one of those I am not sure what to do with the 3 for 7 shares - I am not in a position to buy but logging on to my lloyds account I am not sure it even gives that option?! There is an option to sell for 15p and a bit. Is there a specific timeframe within which I must take action? And also reading back on here i see other people were offered 14p+ this morning - does that mean the Nil Paid shares might rise in value if I hang on a bit? Course if that is the case they could go the other way... Thanks and apologies - but I don't hold anything else apart from a couple thousand ENQ which I bought on a whim two or three years ago.
Re Petrofac: They had a division called Petrofac Energy Developments (later called IES) that invested in O&G assets. PED/IES owned stakes in the Dons, these were demerged, joined up with Lundin Britain's assets Heather and Thistle, and Enquest emerged. Another part of their business, formerly called Petrofac Facilities Management (now EPS) provided services on those assets. The largest part of the business is onshore (mainly) Engineering & Construction - i.e. they build $4bn refineries etc. Enquest is an Exploration & Production Operator / Petrofac is a service provider to E&P Operators. Petrofac has no assets of any interest to Enquest, hence there will not be a merger. Hope that helps.
Whilst I am on, can anyone advise what happens on Oct 1? Specifically, if I choose not to buy my rights issue, and sell them instead, will this be done in the same manner as selling any share in my portfolio? I realise that I would only benefit from the delta between 21p and the sale price.