Member Info for OilViking1

No nothing for Enquest. It's about exploration stage. Maybe for free.

Enquest needs more production in the UK

Sekforde has sold his shares in Serica and switched to Harbour. He may be making a loss in that company right now. Because his friend Stevo12 wrote a few months ago that Harbour was going to be over 300 pence but instead the share went below 150 pence. Both are clowns. Don't answer them.

Nope. I mean Serica. Triton is a pile of rust that will never last. You will have your low production and have to waste a lot of money buying new oil fields in the UK North Sea. And also very high capex för 29k of production.

Serica is a crap company. I am glad Enquest did not do any business with this company.

Hoe says going forward inm..

AT $62 BRENT and NO CHANGE to EPL Serica will have negative FCF.

Full year production 29k barrels per day. Capex half year 138 million usd. Only for half year. Should be double for the whole year

No way this company will be able to maintain high dividends.

Hey idiot, let's see in mid-2026

Exactly. And giving 14-21 USD in profit (or 25-32 USD per barrel for production) to national and intenational oil companies is corruption.

Give about $7 per barrel in profit to the oil companies in the British North Sea and they will dance with joy.

People you have to understand, Iraq and Kurdistan will not give a profit of about 14-21 USD per barrel to the oil companies anymore. That time is over. Will not happen again. It is not fair to the Iraqi people who fight every day for clean water and 24 hour electricity.

I think the companies will get a profit of about 5-7 USD per barrel. The companies have now adapted to the new reality for two years.

In mid-2026 we will see...

Through exports, the companies will not get much more than what they got through local sales. Read DNO's latest press release. It feels like Iraq will not pay more than the 16 USD it has always said. It doesn't feel like a consulting company will be able to increase payments to the companies much more.

Yes, almost no free cash flow in the UK. It's the same with Serica, barely making any money to pay out dividends.

What you're missing is that Enquest has about 15 thousand barrels of production in Southeast Asia.

It is important to be reasonable, a split of about 45/55 is the most reasonable. But now there was no merger and therefore we can close the discussions.

Huge mistake not to merge the two companies. Such a shame.

The merger should have been done. About 43% of Enquest and about 57% of Serica. No money involved in the deal. Would have been to the benefit of all shareholders.

How is this company supposed to make a profit with today's low oil and gas prices?

The broker note was also a sign of weakness in my opinion. It felt like it was issued in desperation a few days before the deal failed.

The biggest mistake both Serica and Enquest can make is not merging their operations.

The truth is that both Serica and Enquest need each other. The biggest mistake these companies can make is not merging their operations.

A split of approximately 55/45 with Serica as the majority owner plus approximately USD 110 million to Serica's shareholders is reasonable.

The sad truth for Serica is that at $60 brent and 75p a therm gas it just is not making any. It has no tax losses against its gas production. And it has also big big problems at Triton.

The sad truth is that both companies need each other. The biggest mistake these companies make is not merging their operations.

Stevo, your numbers are wrong. Leasing is included in OPEX. Please, dont do any more calculations.

You are wrong, FCF break even is not at $64-73 per barrel. But is at approx $55 per barrel. And maybe at approx $40 per barrel due to lower investments due to low oil prices.

Haha nice try by sekforde and stevo. Sekforde is invested in Serica.