Member Info for Pelle

Hi Kraken

I see that only as an formality.
1.You saw the voting result.
2.From what I understand, any left over right issues is garantueed by number of banks
3.And you saw last RNS also that Enquest already exercised the Magnus deal on 4 th Oct.

So from what I understand Enquest already paid BP the 100 milj to save some weeks time and not wait for the 130 milj right issue money

H1 2019:-)

I find it strange market didnt value the deal more already now but value will come when enquest can show I good free cash flow that will start pay down dept.
And it will come
25% Magnus should be paid of around early Dec this year, and from that time cashflow goes to Enquest
and the 75 % Magnus 50/50 cashflow should start come to enquest latest 1 Jan.
So from next year should be alot better cashflow.
I also expect the oil price hedges for H1 2018 to be good

From what I understood last RNS regarding Magnus, Enquest have already paid the 100 milj to BP.
But deal will be finally completed before end of this year.
Its great deal for Enquest so I hope they finalize it Nov/Dec rather then end Dec

Hi Squif

I dont listen too much to bank recomendations, estimates and sharerpice estimates.
They go completely wrong in many times.

You now changed your mind from 175 milj free cash flow H2 to 0 based on Barclays?

I stand by my 150-200 milj H2 free cash flow

Squif, look at where we stand now and forward next year.
Place your bets if you think it will be a stronger company end of next year.
I believe once we start pay down dept and this in included in reports this share will rise.
If they make the 175 milj free cashflow you asumed for H2 then I would not be suprised if share is atleast 50% above this level today. I lalso belive in something in that range.
Lets wait and see for H2 and into 2019 how it goes.

I would not see it that way comming from 100 usd + oil price with heavy investments.
+ he saved the company through low oil prices with big hedges
+ Magnus deal

- Alma/Galia too low production last years but now fixed
- AB presentation, he could have explained the Magnus deal so anyone could understand

So all in all he saved the company and now its time pay back the dept.
If this managed in 2-3 years then we far bigger company then we would have been without investment.

You didnt answer about if your shareholder?

I agree with you, its been a long wait for this.
Now its time for AB show a good H2 2018 and 2019 and start pay down debt

Squif , are you shareholder?

Hi Squif

I assume less capex 2019 then this year. So around 200 milj.
And Magnus, the 25 % will be paid off by end this year so from next year this goes to Enquest
The 75% deal split 50/50 cashflow basically
So all in all 62,5% to Enquest = around 250 milj extra cashflow

With your figures then 350 + (100 less capex) + 250 Magnus = 700 milj

Will be interresting future if no colapse at stock market or oil price

Hi Squif

Capex we quite sure about around 125milj
so then you estimate they make 175 milj free cash flow that can be used to pay down dept?

What is your take on 2019 free cash flow then, lets assume brent 75 usd and you include Magnus deal also?

Squif, what is your estimate on free cash flow H2 2018?
Excluding money connected to the right issue

Thanks MO

Does it indicate around 40k/day production?

Hi E121

Yes, I live in Malmö.
So if you visit again let me know if you want to meet up.
1 pound big celebration would be nice:-)
I am prepared visit January's target celebrations too in UK if I am invited
/ Pelle

Hi E121 and MO

Wow, looks like nice place. I never been to south africa yet.
Could be some destination for meetup if we get our so long waited revaluation of shareprice during next year.
Or go with January's meetup plan, doesnt matter really but would be meet up with people here.
Nice weekend / Pelle

Hi Jan

I believe we already slightly above 60k with increase on Kraken, Alma Galia, Malaysia and some on Magnus
With Magnus 2019 you can add 18kx0,625 = 11 k more
Plus upside on Kraken, Malaysia and some more northsea fix
So 2019 should comfortable be above 70k

Hi L3T

If I remember correct it was outstand 39 milj and they cleared 27 milj H1
So I expect all to be cleared before 1 Jan

Yeah, if 500 k unload its huge improvement for H2 and with oil price.
Better then I ever could hoped for:-)

Hello

The rights will start trading tomorrow in stockholm if I understand correct.
I read on swedish forum some people get them today but I cant see mine yet.
Depends if you direct holder in sweden or if its through trust/insurance with 0 tax on profit on sales on shares.
Instead we pay 0,5% yearly tax on all the holding

With this fast rise of brent you might open 5-10 % above the teoritical price.
In stockholm it happened on x-day and I tried take advantage of it by selling a part of my holding as stock has about 15% to high compared to London.
People didnt relise it was x-day and I understand because the information been very poor.
But I was delayed due to my holding was locked and I had to call in to bank trading table. and during that time London price started to lift.
In the end I was happy to be able buy back the lot a few days later just little cheaper.

Hope we can have good spike in price tomorrow

Thanks MO

This is very interresting keep an eye on.
If they could do an 500k unload in 2-4 weeks it would be fantastic.
Enquest last info on this was very silent, " aggregate production increased as planned"