Member Info for Profitaker

Nothing really in the Labour manifesto that wasn't already known (not really). ENQ will just take their expertise and wad of cash and invest away from the NS. Calm down folks !!!

Sekforde - as of yesterday the average 20 day volume was 3.6m and 25% is 900,000. We need to buy 481,000 daily (current SP & USD/GBP), easily doable. ENQ just need to up the ML daily limit. If I remember rightly, somebody said this point was made at the AGM.

I don't want a cheeky bid. I want 60p+ and I don't care if it takes 5 years.

"We thought debt reduction would add value- it hasn't , we thought the 15% sale of Bressay would add value - It hasn't we thought Buybacks would add value - It hasn't (Yet)"

It has added value, absolutely added value (and there's a lot more to come). It's just not reflected in the SP, yet. But that's the mannic depressive nature of the stock market, nothing to do with Enquest. Let Enquest keep doing what they're doing well, and ignore the SP !

VoR

"I think if anyone expects them to exceed 10% they’ll be disappointed."

Well I'll be disappointed then. Because at the current average buy rate (240k/day) they'd need to buy 37 million shares on Friday to achieve the $15m spend in 2024 (using current SP & USD/GBP). I'll be even more disappointed if they don't.

What is it with 10% ? Is it written somewhere ? I also hold VTY, which is engaged in a share buiy-back and yesterday (as most days) they bought well over 10% of the volume.

Even to get this done by year-end they'd need to be buying just under 500,000 shares/day, from now. Clearly that size sell volume is available every day. So, if ENQ have indeed constrained them (ML) with a percentage of total volume, that will have to change.

It's occurred to me that the authority to buy-back shares expires at the AGM, 30th June, which coincides with the expiration of the ML agreement. Since it's not a given (they can't just assume) that a new resolution to buy back share will pass, surely they must get the $15m done before the AGM ?

Yet there's no sign of that happening, with ML plodding along at 250k shares/day.

Any thoughts ?

Even to get this done by year end in 166 trading days remaining, using current SP & USD/GBP, ML would need to nearly double their current daily average of 258k shares / day.

But the SP is stable, without them doing very much. So more to come...

Https://www.enquest.com/media/press-releases/article/joint-press-release

I'll be going. It would be nice to meet you all.

Well 1,051,612 shares sold at 11:58 and it didn't move the bid, so hopefully that was ML in action.

What I don't understand is....why don't ML just sit on the bid all day long, adjusting up or down, as necessary. Hoovering up all sells until they've acquired 74m shares (or there abouts) .

Maybe VoiceOfReason will know ?

When the share price goes up, it's great. We see those gains, and it's very pleasing. However, even when the share price takes a little dip, we shouldn't sweat it too much. Why? Because every share our company buys back, cheaper than it did the day, before means they're putting a little more value in our pockets.

So I prefer up, but not bothered when down.

Hi Kraken

It's quite clear that ML are authorised to buy up to $15m from 29th April until 30th June. If there was any other dealer/broker involvement in the $15m buy they'd have said so in the RNS.

Must admit though, I don't know what "The first phase of the programme" means. The implication is that there are subsequent phases, but no mention of it in the RNS.

No chance of that Papegoja !

I've seen buy backs in action before (VTY just started) and they start small and ramp up. There was plenty of liquidity yesterday and they chose not to wade in. ML have a reputation to protect, and if they are instructed to buy $15m then $15m they will buy.

Considering the end date of 30th June, the GBP/USD, and the current SP, they need to average buying 1.7m shares/day. Should be interesting !

On the upside, at a lower SP, we are getting a better return once the buy backs start !

Anyone have any idea why we see ridiculous sized trades going through ? Typically at the open and near the close.

e.g. 120, 12, 11, 91.

What exactly is the point ???

Aim - I would think around 20p before just the share buy backs start. Thing is, it's a fairly illiquid stock anyway with only around 50% free float, so the buying could have a massive effect.

I see that Iran has seized an Israeli linked cargo ship in the Persian Guld, ramping up the tension. Hopefully this is the extent of their threats of retaliation for their Syrian embassy, as I dont expect them to start a war they cannot win. I'm expecting crude to open much higher Sunday night.

Israel has naturally promised "consequences" and who knows where this will end, or will it ever end ? But if that Strait of Hormuz gets closed crude will be through the roof !!!

If I was ENQ I would not be hedging oil, just yet !

I hope Starmer and his idiots are taking note of the potential national security issue in trying to close down this countrys north sea oil operations. Thick as two short planks they are !

Steveo

"Yes this could be achieved through developing Bressay and Bentley but this is going to cost $10b minimum to access the combined 500m barrels of reserve"

Where did you get that £10b figure from ?