Member Info for Pelle

Will be Interesting see what happens to oil prices after finishing SPR release in 2 months.
And the closer we get..

https://twitter.com/kcincanoil/status/1567633593886818304?s=12&t=5_6x2T-dqkEuLavbSxc18Q

Value of 2p reserves?
Maybe use the GE deal as indicator, was it 325m for 18m barrels at 50 oil price?
Then 190m barrels should be worth 3,4b as EV.
GE is lowest cost production so high value I assume on the other hand oil price almost doubled now so maybe fair use GE deal as value indicator on Enq.
Now we at 1,4b EV.
With 3,4b EV SP should be around 120p
Barclays analyse of NAV back in 2021 indicated NAV around 80p on these FCF levels.

Doubt market will wait very long to value up this if oil continue high.
In 6-7 months there will be only 400m net debt left.

Will be interesting rest of week see if we get any new SP targets and follow the market screener updates that currently have year end net debt of 760m 2022 and 500m in 2023. My projection now is debt free before end 2023 if they wish.

Romaron, it’s a reversed profit warning .
Be careful, you might get more money than you can handle!

At 1,3 and falling fast with debt.
Lol , that’s crazy cheap .
Going towards 1 year end with this SP

Relax Gents,
No need to count the pennies
AB just send me this video..

https://youtu.be/8qrriKcwvlY

Good morning ,
What’s the rules for buybacks in UK?
Maximum etc..

Itsmymoney, but valuations now is like half of what it was 5-6 years ago when oil was 60usd.
If this oil rise today was 10 years ago HBR and ENQ would probably done several hundred % increases in SP on top of pre COVID valuations.
But they haven’t, they got cheaper

Beerbull, and the tax saving is 40% on the 3b so worth 1,2b

Hello Beerbull, nice to see you also.
I have spread my bets a lot more but still 100% oil and gas. Still biggest holding Enq and second Africa Oil.
I was way to early into oil 6-7 ago and all the FCF that Enq made have just netted out with an reduced EV.
Probably same story with HBR, and around same cheap valuations.
EV’s now getting close to EBITDA, hope that’s a bottom and image if EV start to increase a bit.
Can recommend Africa Oil also with share buybacks soon and interesting explorations during next half year.
Similar cheap also as HBR and Enq.

HBR can buy Enquest and get 3b tax credits.
Long term holder of Enq and bought my first shares in HBR last week.

Beerbull, to be honest 60p will be enough as we collected so many shares cheap and still cheaper then ever. At least 60p will give us a hot shower through winter. Just need figure out out what I will do with 20p dividend…

Romaron, it’s too much!!
I could not even spend all the Petrobras dividends during 2 months in France even if I tried.

https://mobile.twitter.com/keithboykin/status/1240325221938315270?s=20&t=j3SJ8urFrwa0yST5RYcaNw

Hello Kamrat,
Exactly, so my finger in the air guess was correct.
If you have number in your file you can make a multiple EV/FCF development

Romaron, yes EV down down.
Might consider that FCF is around double now compared to some average FCF for those year with high EV. Makes it even more crazy.
Soon EV = EBITDA. Must be some new world record in financial market :-)

Yes KO, this is dirt cheap now.
Same price as last summer with lower debt, higher production, higher oil price and better outlook.
Added around 200k shares today between 3,27-3,30 SEK.
This will not stay on these levels for long if oil hold up fairly well.
Just wait for a catalyst…

30m better than my estimates.

Lol Therapist, hope Enquest outpace Petrobras 80% dividend yield.
AB got some serious competition out there with buybacks and or dividend

Can it be so simple that James Hosie just missed a 0 somewhere in his calculations?

https://www.avanza.se/placera/telegram/2022/07/20/enquest-enquests-vd-amjad-bseisu-okar-sitt-aktieinnehav.html

Banana, I am 100% sure If today was 10-20 years ago Enquest would have trading significantly higher.
Doubt you can go back in time and find oil companies with these valuations at PE 1 and EV/EBITDA at 1.
You can just look at the multiple developments over last 5-10 years.

By excluding funds, pension money etc to invest in oil we got these absurd valuations in Europe