Member Info for Pelle

Hi E,

Maybe you best one to ask about this.
In last 6 months report we see total equity 768 milj.
Is it possible have any rough idea's how that will look at year end?

Thanks Romaron
Your right, I dont share the view that Squif said.
I give up with him now and next time will be reported

Yes, hopefully start recover now. In Sweden there is broker “anonymous “ that seems steer the Enquest share direction a lot. Today is first day in like 1 month the biggest net buyer after being biggest seller every day

Yes, pay down debt is prio 1. But a new Magnus doesn’t influence that in the next years.

Good morning, Yes, I fully agree. And it’s time now look for a new Magnus that can run in background 2 years before exercise the deal with 100-200 milj. This Enquest should be able afford without asking for our money. Then we will have a really strong company in few years

Thanks:-)

Jodi, seems very interresting.
I clicked Jodi oil world database, and after choose all data.
Can see each country in world monthly production up until September 2018

Hi Squif

There some cost at Magnus also:-) around 11-12 usd/barrel opex.
And it should be some strong production months now Oct to March/April before adding new well again.

I think its just hedge founds and others making money on these huge ups and downs.

In early spring this can look really good again.
Tricky with further hedge now, I suggest they now need to play the game they started with so small hedge and wait price to come back to 75-80 usd

Good evening

Its bit depressing days,weeks,months now but I think oil should start to pick up over the next months.
Opec cuts + in few months market will start worry even more about the Iran sanction waivers running out in 5 months.
And I doubt global oil inventories increased that much in last months.
See this report from swedish bank.

http://ravarumarknaden.se/towards-the-end-of-the-sell-off-no-business-below-usd-70-bl/

We should also know that we making money each day even at 60 usd/barrel
Basically we were flat with 60 usd before Magnus in H1
Now we can add 62,5% of 18k = 11k x50 usd =0,55 milj/day FCF

Does anyone else have any good links of global inventories?

Thanks MO for everything
Hope you will be fine and one day come back here to have a chat

Thank you too E:-)

Thanks Joe

First post, welcome:-)

Hi Acchi

Exactly.

I was thinking maybe they have more in place, but will use that possitive information in next RNS.

Hi E

I still dont get how this hedge work.
Simply if oil average 65 Q1 what will the roughly get then. 70 ? or more?

H1 59 hedge I guess was necessary limit risks of running into deeper finacial problems.

Haha , you think we giving AB/JS a hard time here:-)
Some more then others:-)

Hi January

I have hard to find words for it, maybe stupidity. Think E called it greed.
I dont think anyone here would be angry if they hedged 50% all 2019 at 75-80 usd.
And oil prices averaged 80-100 usd all 2019.
AB often called it right before

I am in same boat as you with big holding.
I am still conviced we will achieve what we want sooner or later.
As I wrote before they looking at making 3 bilj profit/FCF over next 6 years with oil around 70
Thats massive! Then 500 milj market cap will be long gone.

Lets now continue our prayers for oil to recover over the next months

Hi E and L3

Thanks for trying explain

Do they issue the sold puts to recover the cost of the bought puts?

Floor at 70, Does this tell us they acted late when oil already started falling?

Hello

Can anyone explain how this hedge works?
Lets assume oil price stays at 65

three-way collar options for c.3.0 MMbbls of oil in place for the first quarter of 2019 at an average floor price of c.$70/bbl and the call spread between c.$78/bbl and c.$84/bbl

Hi Romaron

I support that also, if deal something similar to Magnus.
So no cash payment now but maybe 100-200 milj in 2 years time.
They mention that they wanted to use Magnus deal as a model for future

Good morning E,

Thanks for charing your view.
I agree with you but was expecting bit more, FCF, workovers on old fields would result better, and more hedge
Lets hope someone hears our prayers of oil prices today.

Today I found this piece in the Magnus prospect P 181.
If I understand correct that means they estimate clear about 3 bilj profits over the next 6 years.

GCA understands that EnQuest has recorded estimated CT losses of US$3,123
MM as at 31st December, 2017. Based on current 2P Reserves, oil price forecast
long term of US$70/Bbl and current planned activity around EnQuest’s existing
portfolio, EnQuest anticipate that these CT losses will be unlikely to be fully utilised
before 2025, when the Magnus 75% acquisition is taken into account. Post 2025,
EnQuest anticipates it will likely be in a tax paying position for CT.

Hi Squif, It seems realistic based on where are now. I think they should look for another Magnus deal. No money now and cost 100 milj exercise in 2 year. That Enquest can afford without asking for RI. Otherwise we will start see production decline in some years I fear.

Looks like saudi and russia really good friends.
1-1:30 minutes into the video
Maybe hard for you to understand the swedish:-)

https://www.di.se/ditv/ditv/oljepriset-har-fallit-30--pa-tva-manader/