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That sounds like we are refinancing soon speak, well done getting that reply, presently is a telling word to use.

"The bank debt matures next October (2021) with the bond likely to mature in October 2023. Given the restrictions in place in our banking agreements, we are limited in what we can do with the bonds presently"

TWalbyoff AB has stated that is the priority and we have been paying early up to now, I also feel a refinance will happen to open up Bressay and Banks love to lend to companies that demonstrate they will meet their commitments so a good slice repayed will be a good sign. Fingers X

Net debt at end of Feb was stated to be 1368m and the crucial RCF was 425m this being the important part of debt that has to be repaid by Oct 2021 they also said that for the rest of year $25 Boe was breakeven, because Bond interest is deferred at this oil price debt will be repaid off RCF even if overall debt is not reduced. Debt was re-stated at 1364m at 30th April but no mention was made about RCF at that update, I am expecting Debt to be reduced at interims to 1330m but that puts RFC down to about 360m
Looking forward to seeing real figures the one that count!

The bonds were extended to 2022 but if RCF is not repaid by October 2020 the bond automatically extend to Oct 2023
I am expecting they have repaid a chunk of RCF but doubt they will have a refinance deal in place to cover the RCF and the repayment of Bonds by Oct 2020 but wouldn't rule it out.

https://www.lse.co.uk/rns/ENQ/capital-reorganisation-gi9h4yn6rdztyef.html

I would have thought that was because of property sale. And Dividend not paid. We need a spark in Britbox they need to sort TV access I just found you can get it now by downloading app to firestick. But it need to start airing blockbuster programs before being transmitted on terrestrial TV something special to attract a young audience like Love island.

I doubt Capital is dumping remainder of its holding at these market prices, that is not the game being played in my opinion. Why would anyone who doesn't desperately need the money sell at todays prices.

I would hope they have no plans on Bentley, but my point was that this deal means finance is at top of the list of thing to sort out and the main backers must have confidence in our present position and we need to refinance at a cheaper rate. I am much happier with my Retail Bonds now.
A question for production experts can there be a case for using EP in tandem with AK to increase water injection for example.

Good to hear of new project, my feeling is this is not out of the blue much is in the pipeline and finance must be up there at top of list of things to sort, Logic tells me refinance is close to approval so the Retail Bonds should be a safe bet now and are the most likely early winners? We could well see a rights issue but not till FDP approval next year and hopefully higher oil and share price. They will be lowering our finance costs ASP
The third one is Bentley could they have the bottle to take on all of that heavy oil

The question is how much RCF have they repaid? in the interims. They don't have to pay anything but made it clear that is their focus, they stated expected costs per barrel was $25 they had hedges at $45 plus we know they are getting premium on Kraken all signs are that they have been producing above guidance and this years interest on Bonds have been deferred into PIK so I am expecting a substantial repayment $80 million my guess

Liability, he got off scot free for the hacking scandal he was only the Editor, the shareholders paid the price. Get rid will prove expensive otherwise. Horrible man

I have held both shares and bonds in my SIPP for some time, Only problem with Bonds is the spread its massive, I must admit I bottled on a large chunk of shares at 9p but managed to get into more bonds at 29p had to go for the safer bet Bonds would have controlled the share if Debt could not be paid back, I felt all should be well but in that case Bonds will be repaid in 2023 at £1 with 7% PIK annually. But it was sweaty taking that spread but yes 29p was in hindsight the very bottom but doubt I could switch back to shares and gain but It relieved the stress of $25 oil. And I still hold some shares

To claim Enquest is Decommissioning assets permanently is not quite what they said in the update, what they said was,

EnQuest's updated working assumption is not to re-start production at the Heather and Thistle/Deveron fields.

I believe this is leaving the option to restart production at a future date open.

Problems are blown out of all proportion with todays social media. I blame the advertising industry! everything online today is driven by clicks to generate revenue and the internet is now full of cleverly worded headlines to make you take an interest and click on it. If you said the world has coped for years with 100's of thousands of deaths from flue it does not have the power of the click that we will see when we get first case of coronavirus in LONDON..

How I see it londoner7, as we pay out the Capex then get back 100% of it from Magnus income then you must recognise that, when thinking of BP getting 50% of Magnus FCF as they don't till we have recouped the Capex outlay. So this recouped element increases our FCF as Capex has already been paid out. After it has been recouped our FCF will fall as we then pay BP 50% on 75% of Magnus till they have had $1 billion. Hope I am correct as I have again topped up with shares in the ISA

I concur with londoner7 we run the show now but after all costs including capex share any profit on the 75% of Magnus with BP the other 25% is ours outright. So FCF will include 100% of Magnus till Capex we make on it is recouped.
My understanding anyway.

Not to be forgotten that the capex costs of drilling more wells at Magnus will also be recovered at 100% to Enquest before the 50/50 profit split.

As we have made 2020 debt repayment already would it be advantages to repay the OZ loan early as that gives us back extra 15% of Kraken and would make a refinance on a cheaper deal more likely. As a retail Bond holder I would expect them to then trade above par. And of course the Equity price reflect true value.

Well I decided to sell rest of PMO this morning and buy to the hilt ENQ so lets hope I got it right Enquest must regain its true value soon selling below 21p rights issue price is unbelievable we have re-payed todays share price, already this year from the debt.

As I have understood it BP will receive their share of Magnus after costs including Capex, so as we are about to drill 2 new wells this outlay will be deducted before any payments to BP so it is too simplistic to say 37.5% of Magnus goes to them.

I would like to know how long some of the stations churning out all the repeats of old shows have left on their licences to broadcast left, as that will be an important piece of the take up jigsaw, the other part will be a blockbusting new show like Breaking Bad must see appeal, then there is the old US hit shows like Friends, Columbo etc stand by for further alliances I suspect. Aim Big is my advice to them.