Member Info for Pelle

https://www.avanza.se/aktier/om-aktien.html/5564/boliden

I remember Boliden mining company after crisis 2018 it was so low value, less then inventories some said.
Market didn’t understand they were doing pretty well until they said dividend.
Then SP went ballistic over months 500 % and much more over 10 years

I think simply the analysts have not done their homework and still assume 63k while we doing 80k since Oct.
Comparing with Tethys that is smaller and one field in Oman and pure production company.
I see EV / FCF 200/40 multiple 5
Enq 2019 1900/300 multiple 6

With 2020 increased EBITDA maybe 1200 and FCF 600 I think we will push up EV also next year maybe to 2,5-3b

Assuming 3b and debt 1b potential is around 80p

Yes, I get these graphs correct 99,94% of the times so I am confident

Nice Hitman, my graphics show if it can break 18,5324p it should go straight to 40p and hold there for approx 11 trading days and this is the period January needs book 60p party because on 12 th day it should continue up over 26 trading days to 62,36 p

Nice Hitman, GKB will put the coffee in wrong throat

TLW EV 3,5b
ENQ EV 1,9b
Roughly same EBITDA 1b
Its bisaar if all Enq debt reduction continue reduce EV

2020 FC
TLW debt 3b FCF 150 mill
ENQ debt 1,5b FCF 600 mill

And Enq is in safe countries

http://ravarumarknaden.se/a-neat-opec-deal-carrot-and-stick/

Hello HMH
Yeah its sad see it, I would blame the poor analysts and banks.
Agree most people cant put a value on things.
TLW have a many, Buy,outperforme and hold ratings. No sell.
Enq its quite opposite. Analysts basically said all year Enq will go belly up. Still do basically.

Guess quite many Enq owners gave up and thought better save the little thats left

Might be good for Enq this in next year.
We have one of the best abilities to reduce debt.
Analysts will swift focus

GKB, the Malaysia production rate you state below

GKB, yes if you multiply with 5959 you get the amount and load 75 is the date

GKB you need multiply Malaysia production rate with 5959 and calculate when Kraken tanker 75 will arrive

E- nah, it can’t be correct.
They must align the dividend with 60p party next year.
Its a minimum request after this pain

2018 Report:

Longer-term development
In the near term, we remain focused on
delivering on our plans to reduce our
debt. We also have the opportunity for
material growth where our portfolio
has significant potential for near-field,
short-cycle development, particularly
at Magnus, PM8/Seligi and Kraken.
After we have reduced our debt to
sustainable levels, and dependent on price
conditions and company performance,
our capital allocation will balance
investment to develop our asset base,
returns to shareholders and the acquisition
of suitable growth opportunities. The
application of our proven capabilities
in enhancing hydrocarbon recovery
from mature and underdeveloped
assets means we are well placed to
pursue long-term sustainable growth.

Hello L3

Yes, I have used a % factor to calibrate down FCF for gas , Malaysia and before oil was also sold at discount.
Maybe not the exact correct way, but works good enough.
Cross checked with HMH's numbers also and almost spot on if we used same assumptions.

NH, whats the point try grow if oil tanks and go to zero month after?

Hi Yhyh
Thats right but they build up production for many years and now reduced debt for 2 years.
RCF is already around 500 mill , the point there dividend is allowed
So its the PIK on bonds around 130 mill remains.
Teoritical I guess they could pay dividend April 2020

Give it until sept/oct and the most of the RCF and PIK is gone

Hi L7
Yeah, but I get a feeling they are not into exact details. Or dont care.
You mention yourself the barclays analyst saying 2020 FCF more light.
It seems very strange , as starting 2020 maybe 10k+ vs 2019 and with a lower cost / capex structure.

Another analyst asked, how Enq planned to handle near term debt maturities.
Assuming he means the 1 April amortisation.
Even I figured out that wont be any problem what so ever.

Hello HMH
Yes, I have the vision clear.
Thinking about selling Tethys and Lundin and make the final investment here in Enq.

Just hope they prioritise a dividend of 50 mill in H2 next year.
It would make a huge difference for many shareholders, with almost no impact for Enq.