Member Info for Pelle

Hi L3T

Yes, below 1,8B Debt at year end should be very double
1970 milj at half year
30 milj from right issue
20 milj from Thistle
10 milj Bumi (15x70%)
That leaves 110 milj for operation to do

yes AB should have saved those 2bn on the bank until oil was around 30 usd.
Then he would have got most value of it.

Agree its overcomplicated deal, one thing its complicted but then it should be explain easier.
Guess they dont care much about how many understand it or not.

Magnus prod was 17,5k in July and one more prod well added in Sept + 2 more for next year.
So I think we around 18-19k now. and bit more next year.
And seems we above the base case prod on page 173 in prospect.

Hi Squif

Magnus prod around 20k
25% part 85 milj vendor loan will be paid of around early Dec 2018, from that date cashflow go to Enquest.
75% deal for 300 milj. 100 milj cash, 200 milj vendor loan and by end of this year 100 milj remains as deal is backdated. these 100 milj wll be payed of on 5 year.
So it gives Enquest 62,5% around 200-250 milj/year cashflow
BP gets 37,5% cashflow until around 600 milj is paid of, this will take some year.

Magnus is a game changer for Enquest cashflow next year

Hi Squif

Magnus, I see to Enquest cashflow 25%+ (75/2)%= 62,5% minus 20 milj/year and remaining 37,5% to BP
OZ deal will also pay down debt, just its separated. If you want to separate it you need reduce Dept with 195 milj also.

Malaysia, I guess can can be correct with 3k less

Good morning Squif

You say prod 2019 74k but only 45k will generate cashflow.
Can you please explain more in detail where the other 29k will go.

Yeah, Kraken 50k seems far away. 35-40K Kraken + Magnus will be fine with me.

I see how your thinking and looking backwards at graf I agree, however there some other things to consider.
-revaluation, most here been looking for lonterm revaluation and it will come, next year Enquest will make alot money even with Oil at 60 usd. I can easy see a 2-5 times higher valuation next year if oil hold in 70 usd range or if ENQ have have made some bigger hedges at high levels 75-80 usd for all next year.
-all it takes to trigger this revaluation is one solid article in finacial magazine, one RNS, one good report from ENQ
-if you sell out early at wrong price you might never come in again
-Need consider the amout of shares you hold also, can try trade part of holding to
-If your really longterm holder +2 years you might want to hold as many shares as possible and hopefully get big dividends. Once debt is paid back or even before we could see ENQ pay out 200-500 milj usd/year.

Time now for "smalltrader" last advice, day to day job and try switch off:-)

Yes, it was paid I think 195 milj in Oct but that was done with taking up other loan of 175 milj
15% ring fence at Kraken

I think it was 175 milj in april 2019, dont see any problem with it

Hi E121, Exactly, we same view of it

Hi L3 54k H1 Plus rough estimates where should be today Kraken +4 Malaysia +2 Alma Galia +2 Magnus + 1 So I assume we must be above 60k today Then add 75% Magnus + 14k And DC 4 kraken maybe 2k

I am also sick of it but outlook have never been better during the last years. It will atract investors with a bigger positive cash flow and debt reduction.

Hello See where we were one year ago and today Coming into H1 2018 with hedge 59 and actual prod 54k Now coming into 2019 i assume hedge 75 usd and prod close to 80k minus 7k to BP. We should be lucky RI is completed, might been worse if it was just some weeks later. Revaluation will come big time once these figures start to sink in

Hi L3T

Ok, I didnt see that post.
Anyway, I remember they did one off some year ago and revised down. So all is possible
I dont understand what they were thinking when they give such a guidance in Sept.
Surely they must have a better idea then 46 to 62k

Group net production up 45.9%, averaging 53,990 Boepd in the six months to end June 2018; full year 2018 guidance of 50,000 Boepd to 58,000 Boepd reaffirmed.

So guidance for H2 is 46 to 62k
Time to make an RNS and and update markets and narrow the guidance.
Would be nice gift for longterm holders, as I assume a production lower then H1 is out of the question.
Or do we need to wait another month it...

I really hope Enquest made some bigger hedges during last month for full year of 2019.
Yday I looked at PMO reports and they hedged already in early this year into end 2019.
So Enquest have had the opportunity to hedge at much better levels now during last months
Whould be nice present this on operational update in Nov

Enquest is not valued at NPV with or without Magnus.
The only way for Enquest to really get a revaluation is to start show a big free cashflow and reduce dept.
So I hope they start with 150-200 milj free cashflow H2 this year. And next year much much more.

Looking at the charts compared to PMO the down trend started 3 rd Oct and is very similar.
The oil stocks in Sweden have also been weak last weeks
So thats a relief to me, if only it would be Enquest down I would be worried.
But its strange development with oil prices stable at 80.

I think so far AB have not cared about the shareprice and selling in the company.
Hope this change now once AB and directors loaded up with shares in the right issue once more.

Presentation of Magnus deal could have been more simple.
So everyone would understand how much it means for Enquest.

Hi Kraken,

Lets hope your right that monday RNS is important
Moodys I agree with importance, after Magnus we should be close to 80k production minus 7k+3k non cash flow for share with BP and malaysia deal with the pre sold oil

EnQuest PLC, 4 October 2018

Magnus and Thistle Options exercised

EnQuest PLC ('EnQuest'), an independent oil and gas production and development company listed on the London and Stockholm stock exchanges (ENQ.L and ENQ.ST), is pleased to announce that following Shareholder approval at the Company's General Meeting on 1 October 2018, it has exercised its options with BP relating to the Magnus field and associated infrastructure and the Thistle and Deveron fields.

The Magnus acquisition, which is targeted for completion by year-end 2018, subject to requisite regulatory and third party consents, is expected to add approximately $500 million of net present value to the Group with a significant increase to both existing 2P reserves and annual production.

Hi Kraken,

Yes, it could be correct as they taken the money from us during this week.
Anyway I expect the right issue to be 100% success.
If that RNS on monday can lift share price I am happy but I dont see that RNS importance.