Member Info for Pacman121

Flying...

Labor lies caused a lot of uncertainty. Time to join the farmers in London. 2 tier Kier needs to pass some legislation to get himself and his cohort put in prison. I think the government is going to be faced with a lot of compensation claims.

Annoying isn't it. Puts of early shoppers.

Dodgy spread again this morning

It's all crumbling quite quickly isn't it. If Labor didn't have such a self-validation/confirmation problem they might actually be able to read between their own lines. Oil companies and unions need to continue to apply pressure to get improvements here as well, after all Labor require the industry to prosper to pay all these subsidies and guaranteed profits for the renewables duh!

£2k 'luxury' vehicle tax for new EV vehicles. That should convince people to go green. What is there so much wrong with that party??

https://www.telegraph.co.uk/money/net-zero/electric-car-drivers-new-2k-luxury-tax/

Click the 'ENQ Broker Rating' tab above. Jefferies have also issued a similar price recently if memory serves.

Broker targets 27p with a buy rating.

Every morning the spread on this stock is bo11ox

One of the reasons why free cash flow builds so aggressively in 2025. Coming round pretty quickly. I've been here since summer last year!

100%. Probably be a revolt before then tho. I wonder how much Starmer is looking to tax houses and hotels on a monopoly board?

Despite Labours plans being public knowledge when the half-year results were release on 5th September, the update was still very positive and rather bullish and Enquest (imo) is in a much much stronger position than its North Shore peers.

A couple of sentences:

'EnQuest’s robust liquidity position enables the Group to continue delivering its capital-efficient programmes of capital investment and pursue transformational North Sea and International production acquisitions. This provides a platform for transformational transactional growth, enhanced by the Group’s advantaged UK tax position. EnQuest has to date invested over £4 billion in the UK and has the capacity and opportunities to do so again.'

To recap it was the increase of 3% tax and the removal of the expenditure allowances that drove this down. Now the latter has been removed the options are back on the cards, and there may be more opportunities presented by those who are unable to weather the situation. I think Labour are going to have a much-needed reality check. Damage to the oil industry and now they are crippling retail. Even Elon Musk is tweeting about their stupid energy strategy.

Hi Stumpy. I was referring to the reverse from just under 10p back to where we are now as we got closer to the budget, and then immediately during the budget when it was confirmed that full capital spending investment allowances and decarbonisation allowances were no longer to be inhibited it went from 11.53p to I think 12.62p. These allowances are material to Enquests M&A and delivering on the transformational deal they have been trying to get through to hopefully make a significantly positive impact on the value of the company. If you check the volume for each session over that period you'll see it does breach the daily average quite often.

I don't do charts as imo you can draw a line anywhere to, as you say, see what you want to see.

Will be good to get the company's take and angle with the new shi11y government. Its already been a year since Viaro Energy's main operating subsidiary RockRose acquired a 15% stake in the Bressay Field (extraction potential c200 million boe). At the time that valued just the Bressay asset at over £300m! Enquests market cap now sits at only £220m (£70m less than when that deal was done) with even further debt reduction since Dec 23. It must be a takeout target and fully on the radar post the budget. Add £2.3billion in tax loses and the reduced expenditure forecast for 2025 and it's a fairly sweet target. Volume and trend has been positive and hopefully we have a good run into the update.

Nice steady rise with good consolidation along the way. Felt like something was holding it back, that print confirms it.

Watch this video: 41m 30sec in.

Tons of free cash flow. Assets. £2.3billion tax allowance which can be used to wipe out 40% of the tax bill on profits. It's not going anywhere despite Labors best efforts. £230 mil MC against £2.3b of tax allowances, debt dissolving fast. Now the Government has confirmed it will continue to allow capital spending investment allowances and decarbonation allowances the SP will recover as this is what brought it down.

Tax allowances are literally 10x the current market cap. The market is currently absorbing that. Just needs to consolidate for a bit and a solid update which I'm confident will see this open a lot higher one day soon.

https://www.youtube.com/live/tZpr7jLDZvs

Consolidating really well today and yesterday. Ticking up nicely in the background, level 2 looking healthy. Market still digesting but sticky money (mine included) making an entry. Not much resistance to get back to May's 16.5p level then a run to 30p.

Debt is down by 1.4b to 300m on the last RNS. Buybacks will increase on larger volume, subject to the silly price terms over the prevailing period. This will work its way back up on its own, anything positive on an update and it motors.

Depends on the asset. Initial goal of acquisitions was to increase daily production. I'd say thats a good route. Free cash flow is very healthy and there will be some bargains come up as the majors leave. ENQ are primed for a multiple of wins in this climate. The SP has been decimated while the uncertainty kicked in. I honestly thought Labour were going to dig in and be stupid and stubborn enough to remove the tax allowances and was quietly bricking it. Also Labour have been pretty dishonest with the way they have been conducting themselves, all this has been quite damaging. Now the cards are on the table the opportunities for growth are clearer. It would be curtious to get an update soon.

Hopefully they can get that deal they were hinting at over the line. Either way being able to continue to off set the tax is huge. I think it means ENQ pay 38% rather than 78% which is still extremely significant and creates an opportunity to pick up some cheap assets.

For as long as it takes. Not sure if thats going to help drag things out. FXPO now up 63% in 2 weeks. Amazing gains from the early money. Harris is still ahead according to the FiveThirtyEight's national presidential poll tracker. Algos have crashed this every time it gets to these levels. Is it too risky to hold into the weekend?