Member Info for Pelle

Its already shooting up now

Take the opportunity to add more shares.
You don’t get more signals then this that it’s going in right direction big time.

Whatever reason holding this down, analysts, debt, re-finance, complexy, it will come of at some point.

I have added for family approx 250k more shares last month at around 20p average.
Will go for another 150-200k more in 2-3 months keeping an eye at Kraken production and oil price stays normal.

Just debt reduction at this pace should result in 5-10% increase of SP per month!
If it doesn’t it’s cheaper and less risk also

Agree Swanson:-)
And next year looks even better with lower cost

Hi Romaron

Think your right about bonds price, they also want money each half year instead of alot money 4 years down the road.

Hi Londoner

Yeah, so change minus to plus if you base on 63 usd oil.
For me it doesnt matter if money goes here or there if oil is bit below or above 65.
Bonds are also only around 1000 and not 1600.
Dont worry too much about the 120 mill i April. It will be easy done with current oil price!

And within 6-9 months from now we will have a debt/EBITDA ratio between 1-1,5.
The lower range of there AB wants to operate.

So if your always worried about debt and that comfort zone maybe Enquest is not for you.

Hello Londoner

Yes, I saw my mistake already yday that your numbers was for 2020 delta and it looks ok.
But why you have PIK as a negative post?
I am not expert but as I understand it , if PIK at bonds happens the interest is capitalized on those.
And FCF for Enq increase and they will put those money on RCF paydown instead probably.

Think your H2 FCF 64 mill looks bit pessimistic, we will see.

And 343 mill in Oct 2021 if thats the exact case, then they have about 1,5 year to make that after 1 April 2020.
So I dont see any problem with that given current oil prices.
And I am not sure we will have any RCF in spring 2020, as they will look into re-finance.

All in all we have similar views your just more conservative then me.

Lol... is superdry no good?

In interview AB talked about next phase of growth. So I guess Hitman is right and they will try make something next year.
It could be a massive field if they make it similar as Magnus type of deal.
Maybe a combination of 100-300 mill usd cash upfront + cashflow share and some more cash in 2-3 years.
Of course even better if they can get similar conditions as with Magnus.

To me it looks like Enq is in right place at the right time. Endless growth opportunities almost.

Thanks Londoner and everyone

Good to see your detail capex calculation are inline with my rough estimates in head.

Squif, Londoner estimated another 140 mill debt reduction this year.

So I think everyone consistent on around 1,5b end year

Hitman, are you saying that money will go somewhere else? 60 p party or other charity?
Because surely we will go below 1,6 and 1,4b this year and next year

Hello Hitman,

Yes, EV going down. I also did same calculations and if you go back bit more there was a period it was rather constant at 2,4b in 2018 if I remember correct.
I also compared EV with EBITDA and of course that ratio never been as low as now.

Thanks Londoner,

What’s your view in general after report?
You liked it?

Maybe link didn’t work, but seems Iran taken another tanker.

https://www.di.se/nyheter/uppgifter-nytt-fartyg-be****tagit-av-iran/

How’s your Swedish here?

https://www.di.se/nyheter/uppgifter-nytt-fartyg-be****tagit-av-iran/

Hi Mavrick, they been almost spot on I think both on oil price and Enq numbers.

But I look forward to other analyst updates also, specially the ones that said Enq wont meet finacial ends this year to do the scheduled amortisations and other costs.
If they set 15p based on that I guess they can increase a lot now looking into H2 and next year.

Good Morning E,
Thanks for trying explain things.
I am curious about these 47 mill, it’s a lot of money!
Very strange no-one here knows.
Enq don’t explain it
Or no-one ask at web conference

Would appreciate if L3 or you could try ask. If not I can do it.

I also find it strange no additional hedge
been added since last update when they seem very trigger happy.
Think SP now paying a bit price for volatility exposure

Looking forward to analysts and Moody’s updates

HMH,

AB is talking about 2019 toatl hedge at 12,5 mill
Only 4,6 remains H2.
It was surprise for me they didnt add any more hedges during summer.

1 For the last six months of 2019, EnQuest has hedges in place for c.4.6 MMbbls of oil. Approximately 3.9 MMbbls are hedged at an average floor price of c.$66/bbl,
with a further c.0.7 MMbbls hedged with an average floor price of c.$56/bbl in accordance with the Oz Management facility agreement

L3, haha I get many names.
Sounds good with that Kraken capex, 150 mill total sounds fair to me

Hi L3

repayment lower in May/June?
I was surprised it was so high, moving net debt from 1724 to 1638 = 86 mill in last 2 months.

I dont understand what they talking about even:-)