Member Info for Pelle

Hi Sturdy and others,
I was also thinking about this growth.
We saw in last update about Magnus that Enq lower opex from 60 to 20.
What is normal opex for similar Magnus field at other operator? 40?

And what would the price be for 10k production?
200 mill or something?

Hello E,
Ok, so you think after doing the RCF amortisation 1 April they will start focus on paying back the PIK to bonds?

And maybe re-finance remaining RCF also

Lol..Auson
He is funny without knowing it himself

Sounds good E:-)
But watch out for penalties from GKB and L3.
I am winning anyway after putting tariffs on GKB

Mixed feelings, I want stable SP 20p 1-2 months more.
Oil at 65 and Kraken 40k
Then I will go for final top up

Yeah, peak!
In Sweden we say tak = roof

Heardy, I am just waiting for US production hit the roof.
It will happen sooner or later and after that it’s game on big time.

Heardy, they just want to get in as cheap as possible.
Now they stressed because good update and oil going up.
Itza, even admitted its his game.

Itza, do you happen to know Neil?

Yes, Analysts was updated in July and presentation was shared.
“Talk up” sounds bad but I think you know what I mean.
Both in short horizon, AB could given FCF guidance H2 but they never do.
Bets here and among analysts are spreading.
What will happen with cashflow after 2020? I see 500 mill after capex even at 60 oil. I can only assume myself.
Neither we or analysts know AB vision for next 2-5 years.

I invest more and more because it’s dirt cheap and money got to go somewhere in the end. Not because AB’s clear vision for the next years.

To me it looks like AB have no intention yet to talk up SP.
AB and others will be happy load up more shares over next months.
Think it’s just a matter of time before AB starts buying again, its cheaper and less risk now then 3-6 months ago even at same price

Come on now English guys, Sweden up 3%

Hi HMH

Full year capex was 275 and they did 125 H1 so 150 remains.
I seen in Enquest documents that DC4 invoices was paid on 6-9 month after so we might even still pay of on those.
So for me it doesnt matter exactly what invoices they paying of.

About deduct BP cashflow with capex, not sure and I need go to work now.
Maybe you have time present where its stated.

Bye for now

Mavrick
Maybe market confused us with other Enquest?
https://www.enquestenergysolutions.com/

Enjoy the time and do a Helmut!

HmH,
PM8/Siligi, is included in the 150 mill capex H2. And cost for it is around 20-25 mill.

BP next year. 37,5% of 20k and FCF 40 usd at 60 oil give approx 110 mill to BP
Plus we still need pay down a 5 year 100 mill vendor loan for the 75% deal .
So its another 20 mill plus interest so maybe 25 mill.

H2 2019 BP will get slightly more then H1 36,8 mill.
A combination of above and less of the 25% deal that was payed of in Aug.

Maybe I am too conservative with this working capital and receivables/payables that I was trying to learn yday and it will balance H2 so I up 40 mill. Not sure and yday didnt help.

All in all H1 surprised almost everyone possitive thats why you got most right, but most here now see slightly less FCF H2 and I guess market does to.
Good thing its soon 2020 and it looks a lot better.

Even if your older then most others here its no reason to always become agressive.
You should know that we several people here put in a endless of hours here during last 3-4 years on this and we not stupid as you might think. In fact I would say some here are really smart, even if I didnt meet them yet I know them here well enough.

Early this year RBC come with false information and we toke a bad hit and never recovered since and on top of that Cairn reserv downgrade.

One guy here before wrote to both RBC and Enq and RBC shortly corrected their mistake, think it says a lot about the details some here knows and how smart they are.
There is no way banks/analysts can come with more of this for 2020 at 60 oil and its just a matter of time they need to
completely change their view even if its hard admit being wrong sometimes.

https://www.proactiveinvestors.co.uk/companies/news/212051/rbc-takes-back-enquest-debt-warning-but-keeps-heavy-downgrade-212051.html

https://www.aktiespararna.se/analysguiden/nyheter/enquest-rbc-rattar-om-kovenanter-men-vidhaller-underperform

Have a nice day HMH, but please do think a bit of how you treat other people on forums and maybe in life.

Hello E,

I stick to my own numbers and look forward to AGM 2021:-)

http://www.bilddump.se/bilder/20190909213851-185.205.224.13.jpg

Well guys, its not easy for me learn if you fighting about basic accounting:-)

H2
Prod:71k
Oil price include hedge: 62,5
Opex: 24 usd (300 mill)
BP / Magnus : 55 mill
Capex : 150 mill
Cost of finance and leasing : 110 mill
Continue pay down trade payables: 40 mill
FCF: 100 mill.

2020
70k conseravtive and 60 oil
BP 135 mill
Opex 20 usd
Capex 144 mill
Finance / Leasing: 180 mill

No capital movements or negative trade payables:-)
2020 FCF: 475 mill

end 2022 can be debt free. That got to be worth a lot more then 400 mill as today marketcap

Hello HMH

ok, I trying to learn:-)

Is it P10 your looking at?
Trade and other receivables increase 52,9
Trade and other payables decrease 37,5

If they stable in H2 its an possitive effect of 52,9+37,5 on FCF?

Hello HMH

Yes, I know profit and FCF is not same.
But I was talking about operating profit before working capital changes see P29 in last report.

Please see my last post again, am I wrong?

Hello HMH,

I am not expert on this accounting, but the other day I was looking at P29.
And saw it looked no normal in my eyes
operating profit before working capital changes: 523 mill
Cash generated from operation: 426 mill

So we "lost" 97 mill there to translate to FCF

You mean they will harmonize now in H2 so the full operating profit before working capital will translate into cash generated from operations?

Assuming we didnt have any of these capital movements going into this year.
H1 FCF would been + 140 mill +100?
H2 FCF everything same 240 mill?