Member Info for Pelle

Wow, is it small apartment London?
Such rent I will take two please

According to Bloomberg, the oil trading giant Trafigura tried on Tuesday to sell a load of Ural oil with a record high discount of 18.6 dollars per barrel compared to international comparison prices without receiving any bids.

According to Bloomberg, the difficulty in selling the oil is partly due to the fact that more companies that own oil tankers are cautious until it is clearer what applies with the sanctions and that some international oil traders are afraid of negative publicity if they handle Russian oil.

"About 70 percent of the Russian crude oil trade is frozen. Most major players do not concern Russian oil and only a few European refineries and trading companies remain in the market ", writes the consulting firm Energy Aspects in a market letter according to Bloomberg.

KO , as Bananajoe say you need compare EV.
AOI Mcap and EV the same 900m usd and FCF 400.
900/400= 2,25
ENQ EV 1600/550 = 2,9.

So it’s around the same now give or take.

Hope you and Romaron take notes.
I will probably stick in same questions again and a few more. Lol
50p+ might be worth the travelling

Squif, point is there several alternatives out there with attractive valuations and dividend start near term.
So no reason be over exposed to AB.
It’s very difficult calculate what will perform best over let’s say 5 years.
And specially with Enquest as nothing been presented and involves developing Bressey and Bentley.

With dividends coming I won’t care much about share prices anymore

Squif, do you hold any other oil share?

Its Retail owners in Sweden using Avanza.

So your saying we still have a chance?

https://www.aftonbladet.se/nyheter/a/y40yMR/brittiska-regeringen-planerar-nya-oljefalt

Majority dates back to summer 2021, see half year report:
For 2022, EnQuest has hedged a total of c.6 MMbbls using similar structures, with an average floor price of c.$61/bbl and an average ceiling price of c.$75/bbl. For 2023, the Group has hedged a total of approximately c.1 MMbbls with an average floor price of c.$55/bbl and an average ceiling price of c.$73/bbl

Good morning Romaron,
We talked about these tax cuts years ago.
Another way could be buy a company loaded with money/ profits. Let’s say there a company with 1b cash but obligated pay 40% tax then only worth 600m.
Buy it for 600m and you get 400m extra.
I am off to skiing today in Austria so I leave it to you and AB sort out the details:-)

I remember after end 80’s crash there was a lot empty tax loss companies for sale.
Maybe it’s not necessary oil another oil company would be buyer. Buy and sell assets without tax losses and use the tax losses. Let’s hope AB gets max value out of this soon!

Come on now AB!
Show us what you can do at 100 oil.
60p and your welcome!

Jesus Romaron, at this pace AB working there will be no ladies, wife or gf whatsoever.
Tell him step up please!

Hello L7,
Enquest paid of the BP vendor loan 60m in autumn.
In return Enquest now get 100% of the FCF from Magnus up until around end March.
Guess the 37,5% works of the 60m

Romaron, flexibility is AB strength.
Throw in a good B/E number 2020 and leave out debt progress sometimes.

Romaron, ok so you used 2020 actual breakeven.
Actually it’s a good benchmark as AB cut his salary:-)
If you interested in cost increase 2022 it’s mentioned in last update

No, still have big holding but we need be honest about the history and future.

Breakeven now around 50 usd this year = 0 debt reduction = more debt problems.
So prices better stay above 80.

Eh, Romaron. At 65 oil I get 250m FCF so 5-6 years to zero debt and that If Keeping 50k.
How do you get 2 years?