Member Info for Profitaker

I'll ask again....

All this talk of refinancing. Can anyone give me a reference as to why it's expected "soon" ?

All this talk of refinancing. Can anyone give me a reference as to why it's expected "soon" ?

https://www.livemint.com/market/commodities/oil-prices-hit-highest-level-in-over-two-years-11622536128656.html

$70/bbl

Nothing to worry about here. The bond just ticked up a little.

Would anyone care to have a stab at full year EPS ?

Russia just announced they will take part in OPEC+ meeting.

Up 3%, Dn 3%.

"EnQuest has hedged c.2.9 MMbbls of oil in the first quarter with an average floor price of c.$65/bbl."

Does that mean the hedges were put on in the first quarter and they have hedged 2.9 for the entire year, or the stated hedges exist for the first quarter only ? I think the later.

Libya hasn't stopped producing oil, nor will they until they reach maximum storage capacity (no idea how far out in time that is), and anyway the port blockade could be lifted tomorrow or the next day. We just don't know.

Quite a resilient performance today considering the slide on Brent.

"What's at a 3 digit premium? Surely that's a typo..."

It can't be 3 digits, that ridiculous. More likely 2 digits, i.e. in excess of $10/bbl. Strange why ENQ and CNE are secretive about the actual premium.

No pain here, because I haven't sold any shares. Simple really.

From the Ops Update (21/11/19):
"Since first production, more than 24 million barrels of oil have now been produced and 49 cargoes offloaded from the FPSO"

which implies and "average" off load of 490,000.

I think the Kraken premium might be commercially sensitive because neither ENQ or CNE seem willing to disclose. A Moody's upgrade would be great (if and when) but more likely broker upgrades will be the driver.

Just some perspective - 2 weeks ago ENQ closed at 23p. We're now 28.3 bid ! 60p will never be a straight line, but we will get there, of that I have NO DOUBT !

It's just a slight pull-back, perfectly healthy. ENQ bond has ticked up this morning.

Kraken (Cairn 29.5% WI) averaged 35,600 bopd (gross)
On Kraken, FPSO performance was significantly improved during H2 2019 and this has continued.
Two wells (a producer and injector pair) are planned to be drilled on the western flank of the Kraken field (Worcester accumulation) and be tied in and onstream before the year end. Drilling operations are expected to commence in H1 2020.

Any consensus on this board on what 2019 EPS will be ?

Starts next week Tuesday 21st January. Hopefully AB (he's always there) will give a few snippets away.