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Given Putin has managed to turn Russia into a Pariah State don’t expect him to now comply with the normal rules of International Law . That will be the least of his concerns. Asset seizures could apply at any time and the West would be powerless. Many Russian Oligarchs will still be in his back pocket and be itching to fight back.

“The ability to distribute dividends to all shareholders in an equitable way will be one of the factors in finalising the dividend decision”. 30/3. Thus the problem , given over 20% of holding in Russian hands !

Be careful….when this runs it will likely run quick thro those Stop Losses !

“Gold unaffected by sanctions” well yes, but it’s the mining operations themselves which are vulnerable . Quote from Vitaly Nesis 2/3/22 “ Currently, the largest challenge that we expect to face in the coming months is the logistical challenge related to significant disruption of containership service to and from Russia” eg. equipment spares / consumables etc…!!

The reasons why this dropped like a stone on the outbreak of war, are still with us and indeed have subsequently strengthened. An unfortunate consequence is the high volume of momentum traders now involved here together with the inevitable lemmings. That’s a glorious combination that MM’s will only be too happy to exploit ( so holding stop losses may at some stage hurt ) so I suspect you’ll get another opportunity to enter the den, if you wish !

Yes, caught up with a few old mates last Friday, at our old lunchtime boozer, The Counting House…Cornhill/ London. As in the Chair I picked up the bill …£245 , and that was without food. Some recession !

The chance of the West allowing Putin a “ face saving deal” are diminishing fast as that won’t effect Regime Change, which must be the number one objective. Unfortunately for Ukraine they can’t now agree on anything without the West’s blessing who are their safety blanket !

No so sure. Are we witnessing a watershed moment with shareholder pressure likely to mount upon all major investors will direct / indirect Russian exposures. Given the ESG snowflake brigade found Oil E&P Companies taboo, most CEO’s will be mulling over various exit strategies, as the calls for complete Russian isolation get louder. Always best to be proactive in these circumstances and assume the worst !

Think you’ll find that Liz Truss now intends to break the Cup…..they’ll be some collateral damage following latest indicative sanctions but will take a little time to fully understand impact. Until then this is likely to go nowhere.

Current pricing suggests Div will likely be pulled, which in the circumstances would be the prudent option, not that most traders will be that bothered as uncertainty just adds to volatility.

Mkts again getting jittery over new sanctions that Putin may introduce if EU don’t pay for his hydrocarbons in Rubles . He’s given a deadline for tomorrow and as the EU have told him to ‘go whistle’ we await to see his backlash, if any !

Yep will take some of those although suspect they won’t see their 5+ year maturity date, the way cash is pouring in !

Agree, not sure why they felt the need to Update the Market on this. Promoting one’s various product developments at key events is merely part of your PR. Hopefully it’s not a sign of AS trying to bolster his SP ( in which he has form ) prior to next update as only hard positive data will now be accepted. No amount of conjecture will change that.

“Thats why my strategy is still to hold for dividends”…..well dividends will be paid but unlikely they’ll be shared amongst Shareholders. Witness Managements previous decision to award themselves up to £150 in bonus payments subject to certain KPI’s being achieved & which Shareholders had no say in. So not sure of the logic in leaving cash invested here when this Market is presenting many other shorter term growth opportunities, particularly in the Commodity Sector, due to the current conflict. Just jump back in if/when a significant break out occurs !

See Next bit the bullet and downplayed growth for the year only to see their SP react accordingly. Inflationary pressures seem to have a long way to go yet.

Agree, his is a loss to Enq. although suspect a coup for the Head hunters given AB saying “I am sorry to see Jonathan leave EnQuest” . Otherwise update inline with expectations although Mkt will price in JS departure.

h-a, Yes was an interesting statement by JL on 10th March, “We are confident that pandemic-related headwinds are short-term in their nature, and our focus is to ensure the business is well positioned for growth as these headwinds ease." Nowt about ‘the elephant in the room’ called rampant inflation…..maybe he’s reserving that one for later !

Interestingly Norges Bank aren’t the most supportive of Investors many had hoped & still supporting the ‘dark side’. Be interesting to see if expected news elsewhere this week may influence pricing . Irrespective Mgmt don’t seem that concerned.

Not that I can think of any bad news but if AB has any up his sleeve, this will be the time to get it out the way. Otherwise it’s all about the outlook statement, which hopefully will be positive. Irrespective we’re only mid journey. It’s

That’s an interesting appointment !