Member Info for oiluser

As are hedging, and note that TLW and PMO are significantly better hedged than Enq. TLW 60% at 57, Enq 20% or 2.9mbo at 65 and 1.1mbo at 52 or an average of 61.5 for 20%.

These 3 stocks are risky, no matter how u slice them. Some more so than others.

Actually here to discuss Enquest, as Enquest poster Ammu is on TLW discussing enquest. Go figure. As I said to him, I will dig into the op updates here and get back with my opinion on the share I dont own.

Bizarre why people invested in 1 share try selling its merits on another shares chat line. But alas, this is the world we live in.

As for comment on stress testing either of the 3 little biggies, none would pass. Each has their own set of pros and cons.

Dont forget the bond interest capitalization which is ongoing every year since refinancing, that's risen from 750 to over 900million since. Enquest is cutting costs and cutting production and deferring payments, like every other company in this oil environment. I will go through the updates to see what costs are being deferred, and come back with the hidden gems later. Bear in mind, operating costs per barrel normally include FPSO costs. The enthusiasm you show for Enquest is not borne out by the market considering the volumes traded. 4million shares Friday. What's the shares in issue, 1.5 or 1.6billion. I think its amjad only that's buying shares for his charity, emphasis on his.

Ammu, your a fkn prat and see you on enquest

Ammu, no one here wants your advice. And you are in cloud cuckoo land if you think Enquest are operating at 12/bbl. Last year with higher production they achieved 21 which was an improvement on the guided 23. You seem to forget how liberal ab is with the truth, and what payments he plans to defer to get to lower prices. FPSO operating costs are not included in your 12$ figure, and as I pointed out earlier, capitalising an ever increasing bond payment at 7.5% is the same as a fixed cost in reality. Suggest you worry about your enq investment, last thing you need is people coming over there to tear kraken a new AH

Debt increasing every day, more than a million a week. Wow. With losing barrels, I think were on the wrong bb. Let's continue to discuss Enquest on Enquest bb

I think I'm going to the Hur board later today, to discuss fractured basements and the like.

The earnings of FB and Apple are going to disappoint big time, advertising is going through the floor. The rosy picture portrayed by DOW and S & P which is recovered somewhat based on tech stock wound be that pretty come july

Ammu

I assume thats before they capitalize the bond debts as is the requirement with oil below $65. I remember first pointing that issue out when bond debt was sub 700million, now its 950million.

Also, enquest will reduce guidance, as they decommission a number of assets not previously planned for 2020. This will push up BE more, and as with TLW , PMO and Enq all 3 will likely face reducing production in 2020 because of cuts to capex (drilling).

The breathing space for all 3 is in hedging, that should see them all into next year and a lot can happen in that time. Not least that oilprice cant and wont stay this low as it's in no ones interest

If you ask me they are all as risky as the other for different reasons,
Enquest is capitalising debt continuously on its bonds. And now reducing production guidelines with the early loss of several marginal assets.

TLW is a bit of a basket case, have gone from top of class to bottom with the drill bit and tried to take on risky projects in Africa that generally would be left to majors. But it has secured its RBL recently and managed to sell off Uganda which will help with debt reduction and BE once finalized. Plans to sell Kenya ongoing which could bring debt inline but also reduces reserves considerably. Again Kenya is a majors project, too much risky for small company like tlw. Bond due in a year is convertible, probably gonna cause issues unless sop gets well up on today's price which appears unlikely in today's mkt.

PMO was doing ok, at least SP indicated that more so than ENQ or TLW in the run up to CV. The acquisitions now appear to be a bridge too far, but who knows. I'm out of PMO for the moment because of the threat of massive dilution and before that CV. Not sure its buried but it's in no more a hole than enq and tlw.

I suspect the reasons for concern on Enquest aside from CV / low oilprices is the deferment of interest payments on the bonds. Not that it's a bad thing currently but it is kicking the can down the road.

Can you explain that comment related to roof and tlw/pmo

"Uptick"

Huge optic in car sales now in China, read the economist 90% economy. 30% drop in mass travel system numbers, but roads are chockers

Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 57, falling to 408, with the total oil and gas rigs sitting at 582 fewer than this time last year as U.S. drillers continue to be squeezed between oversupply and under demand.

Over the last seven weeks, oil and gas rigs combined have shed a total of 384 rigs.

The number of oil rigs decreased for the week by 53 rigs, according to Baker Hughes data, bringing the total to 325—a 482-rig loss year over year. It is the fewest number of active oil rigs since June 2016

Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 57, falling to 408, with the total oil and gas rigs sitting at 582 fewer than this time last year as U.S. drillers continue to be squeezed between oversupply and under demand.

Over the last seven weeks, oil and gas rigs combined have shed a total of 384 rigs.

The number of oil rigs decreased for the week by 53 rigs, according to Baker Hughes data, bringing the total to 325—a 482-rig loss year over year. It is the fewest number of active oil rigs since June 2016

did anyone ask questions about the permission sought to issue shares? Someone mentioned the value of share to be issued at approx 50million US. Was any reason given as to purpose, were shares to be held in treasury for example?

Hardly surprising, I think the takeaway from this news is that the EIA are lying gits, and lower 48 production has nose dived so badly he will do anything to try stem the losses for next 6 months I.e. election.

Same where I'm sitting,

TLW like PMO is tradeable with fluctuations in the oil price, whether there is also manipulation thats another matter. You wont find steady here or in PMO, maybe you can have that in CNE or BP. These are less risky but offer less potential upside. TLW is risky, no doubt about it. PMO too with potential massive share issue. I think oil heading towards 40, that's why I'm in here. Whatever SP is at that time I will likely sell. I'm thinking closer to 40p than 30p