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TRADING HALT: ORDER BOOK ENQ IN MARKET STO EQUITIES CCP AT 11:04:01.705

11:04
Trading Halt: Order Book ENQ in market STO Equities CCP at 11:04:01.705

Anyone asked if you can join this CMD?
Or if there will be video link?

About this Heather/Thistle communication or lack of it, its the small piece and limited effect on production and guidance.
SP was already in the low before anyway.

How they communicated Debt/EBITDA through out the year and probably shout down all communication with analysts so there no numbers out there that makes sense is worse.
Through out this year they had the chance to either accalerate SP performance or slow it down

AB see this levels of SP as ridiculous and gather as many as he can as while all others are in the complete blind.
Major disconnect how AB sees it and how market sees it.

Quite a difference between Lundin and AB for example

https://twitter.com/Ian_H_Lundin

Heather:
Deep vision
Vestland Artemis

Thistle:
Grampian Deliverance

Hello Jan,
Hope all is fine with you.
Well done analyse.
For next year need add the debt reduction also.
60 oil its about 150 mill / quarter
80 oil its about 250 mill / quarter

In my opinion most important is how transparent AB will be and what guidance he gives.
So far this year just repeating Debt/EBITDA below 2 and even when actual was 1,8 in June it doesn’t come of well.
Market is clueless about debt reduction in H2, looking at marketscreener average estimate is around 50 mill in H2.

And in my opinion he must have given a complete cold hand to analysts and media.

Maybe time for a change at this CMD?
Only AB knows

Is London closed today?

Good morning
I get following mid range guess sept forward net prod
Kraken 30k
Magnus 17,5k
Others 28k
Total 75k

Others 28k is same level as Jan-May
So Malaysia drills and pipelines North Sea needs to make up for the loss at Thistle and Heather

Fix the problem and get Magnus bit higher and we can add 5-10k more going into 2020.

Yes Romaron
People will think twice before buy those 6-8% bonds in US shale with this outlook.

I liked this comment, below the article

US oil production is slowing down given very rapid natural decline in shale holes. Democrat presidency candidates are talking about total fracking ban. This puts huge uncertainties to onshore drilling. Oil companies should re-look the offshore fields (for their production diversification) rather than drilling shale harder, at the least.

Finished now maybe 30 min ago

https://www.zerohedge.com/energy/us-shale-braces-brutal-earnings-season

https://www.bloomberg.com/amp/news/articles/2019-10-30/frackers-scrap-idled-equipment-amid-pullback-in-shale-drilling

Chilting, don’t forget order new tanker for 9th Nov

Hello E

Completely crazy, Enq doing more FCF then this Concho.
Market cap 13b about 30 times higher then Enq
EV 17b about 8 times higher then Enq

( I do see one row they have but not Enq)

If they bought Enq for 100p their numbers would look better and maybe double markercap to 25b
@ Tim, PM me if you want discuss details

https://www.marketscreener.com/CONCHO-RESOURCES-INC-57243/financials/

I think you get nowhere with IR about this.
Better invite AB for 18p party

KO,
My point is that its a 1b EBITDA company with approx 50% of that from Kraken.
Marketcap of 400 mill.
Risk is down a lot , basically only risk is that Neil wins on Lottery and get his 25usd oil price right.
Now its just just a question how fast Enq will reduce debt in 2020, 30,40,50,60,70 mill per month?

Not a single article or anlyst update

2017 again

https://www.oilandgaspeople.com/news/14566/enquest-boss-amjad-bseisu-kraken-is-by-far-the-largest-project-weve-done/

Remember this in 2017 now its soon 2020 and we have Magnus also.

https://www.telegraph.co.uk/business/2017/06/10/enquest-looks-cut-debt-700m-year-new-field/

KO, I feel exactly same as you.
Its easy see through this vacum AB created with poor updates about future and almost no updates from analysts.
I agree with SP in Q1 when Kraken at half speed and oil price low.
But after that its keept in the lows at tight range is not normal with the improvements thats been done.
2019 was a tight year, high capex and bigger scheduled amortisation.
We done it and now working of the April amortisation easy.

Lets hope for a change at CMD in Nov!
Otherwise there no point have it anyway