Member Info for romaron

Things are tight but we're not actually desperate for money so the deal has nothing to do with needing a Christmas loan.

Cobas hoovered up the Swedish liquidity. If the market likes this where will the liquidity come from?

Viaro HO is only about a 30 minute walk from EnQuest HO.

AB did say that the company is interested in producing more gas.

Why announce today? I think that like the Swedish delisting it helps clear the way for larger deals.

This was before the EPL in May last year. This has to be taken into account. Is Jonathan Swinney involved? I believe he does 'consultancy' work for EnQuest. They would have got the nod from both political parties. What will the media make of it? One company escaping the UK another prepared to give it a try. Exciting times.

"Operator EnQuest (LON: ENQ) is exploring a range of options as it draws up plans to develop two major North Sea prospects.

The London-listed company completed its acquisition of the Bentley Field, around 85 miles south-east of Shetland, from Whalsay Energy in November.First announced in April 2021, the deal was worth up to £30 million.

Located nearby is the Bressay prospect, which EnQuest acquired a 40.81% operating stake in from Equinor for around £13m last year.

Both prospects are situated close to EnQuest’s Kraken FPSO, a potential tie-back host for Bressay, which will be developed first.

In its 2021 results, shared on Thursday, EnQuest said its acquisitions of the two fields added almost 250 million barrels of oil equivalent of 2C resources to its reserves.A field development plan (FDP) for Bressay will be advanced this year, though Jonathan Swinney, the company’s chief financial officer, wouldn’t be drawn on when it will be up and running.He said: “We’re looking at various options around Bressay, whether it’s a tie-back to Kraken or whether we use the EnQuest Producer. We’re working with our partners around the prospect. I’m not going to commit to a specific time on an FDP but we’re working very hard on it.

“There was tremendous value in Bressay anyway, even in a $55 oil world. The one thing we’re not going to do is a big development type option. It is going to be much more about utilisation of current facilities and making sure we’re doing that in a capex cost efficient manner.”

One thing for sure. Where are investors wanting to get on board going to find liquidity? If this stimulates a recovery in the UKCS then they will struggle. We are unique enough to fill a few spaces on any strategic chess board.

*remember the 20 July 2022 Environmental Audit Committee where Linda was eviscerated by Tessa Khan and the Labour team : https://www.parliamentlive.tv/Event/Index/09e28c6c-4afa-48e8-aae2-d73485784719

"Woman scorned" - "Dish best eaten cold" I know who lost.

Hi AOK - it has never been easy to get accurate figures for major shareholders and it also requires them to inform the company and authorities.

This is from the FT: https://markets.ft.com/data/equities/tearsheet/profile?s=ENQ:LSE

I'm sticking my neck out here and suggesting the Avanza figure isn't up to date.

This also: https://www.morningstar.com/stocks/xlon/enq/ownership

Neither agree with EnQuest.

I stopped tracking them some time ago when moved away from fundamentals. Aberforth, Baillie Gifford and Schroders know fashions change but fundamentals eventually come back into fashion. I'm encouraged by BP donating £50mio to the British Museum. Can't wait for the usual suspects to damage their brands and cause even more with the predictable protest. They are becoming old news. The public have moved on and the claims of renewables are being demolished daily.

I asked a question at the AGM concerning a presentation that Waldorf were having or had. I found this in my notes.

"I think AB was genuinely unaware of the Waldorf presentation. I'm not very good with computers so I have NO idea if it was an old prearranged meeting by Waldorf.

AB was being straight (I believe) when he said that he spoke to Waldorf 3 times over the weekend and that the presentation was inflated by what looks likely to be a prearranged presentation. Obviously the talks with Waldorf would have been about the transformers." This would have been the weekend 3/4 June. Why does the CEO need to discuss the transformer problem. Isn't that someone else's role? I don't think it is leading anywhere and I'm only mentioning it in passing.

Auson - Anyone who sold out pre EPL did better. The point is that the tax losses are valuable is my conclusion. You need to be a tax accountant/lawyer with 'commercially sensitive' data to know the full answer. We can only watch from the sidelines. Plenty going on it seems. EnQuest would know what has occurred imo and the motivation. At a minimum because of self-interest as Kraken is involved even if not directly they would have been all over Waldorf.

‘disappointment’ as hundreds of north sea firms fail to respond to d&i questions' - raises two questions for me. wtf were oeuk wasting time on this survey when survival for many companies is more pressing and secondly why is it important? most of us are pretty tolerant and i personally couldn't give a monkey's about gender dysmorphia or what foot you kick with. most people in the uk are like that too. jocks are among the prickliest people i know but once they accept you you're part of the team and it won't be because of something you're born with. being a miserable f*cker or an evangelist excludes most people from any group but they are tolerated.

the industry have answered by ignoring the crass banality of such a 'survey'. there are plenty of women working in the industry and it will always have a male bias especially offshore. i'm pretty sure i'd have felt a tad out of place if i'd worked offshore where a ****ney accent isn't the most common. i also know that i'd have fitted in if i returned the banter. it is imo actually an insult to the industry that it has to be held to 'woke' standards that juststopoil and xtinction rebellion would support.

companies didn't respond to press requests for comment (that is actually an answer - they had better things to do).

"harbour energy, the uk’s largest producer of oil and gas, was among the firms that only provided data on age and gender on this latest report – it’s understood the firm is now implementing new data gathering measures to track d&i across six categories." er, isn't their ceo a her rather than a they? and wasn't lord brown the ex ceo of bp ***?

Bit of a turnaround at EnQuest and AB's alma mater.

OK, I'll talk about it. Capricorn (Cairn CNE) was always cautious and circumspect about the NS. They have bought back in. Maybe it is for tax reasons but maybe also Egypt isn't the safe haven it seemed a few years ago. Sabres are rattling.

Waldorf have some interesting and well connected and competent Directors imo. Maybe they feel like many of us that to duck out now would be just before prize giving. We know both companies well and at the last AGM AB said to me that he had spoken to Waldorf the past weekend (I can't remember my question). With Waldorf's problems quite well known there would have been conversations with EnQuest concerning this move, maybe informal but that is how most conversations start.

Why aren't we talking about this?

https://1ft.io/proxy?q=https%3A%2F%2Fwww.energyvoice.com%2Foilandgas%2Fnorth-sea%2F543912%2Fcapricorn-energy-north-sea-waldorf%2F

Tax losses, both companies known to EnQuest through Kraken. That $48m will be spent somewhere and may just be necessary to tidy up a deal. I added it to this thread because Serica gets a mention too. Stuff is happening.

"Electric vehicle (EV) technology is an overreach, rather as Concorde was; and both were only every luxuries for the wealthy. But whereas supersonic passenger flight was submitted to market forces, which killed it, Professor Kelly notes that BEVs are dangerously different. Governments seem to have determined that consumers must be forced to buy them regardless and are rigging markets with bribes and with enforced destruction of better alternatives. This, he suggests, will most likely lead on the one hand to Cuba-style prolongation in service of older internal combustion engine vehicles and on the other, eventually, to public anger and resistance, as happened to Mrs Thatcher’s ill-advised Poll Tax."

Source: chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.netzerowatch.com/content/uploads/2023/12/Prins-Archimedes-Fulcrum-Final.pdf

This is incredibly deep and right wing (they'd say Libertarian). However, I find myself agreeing with most of it. I particularly like the simplicity of some of their solutions. For example, exiting the ECHR and changing texts in legal documents by deleting the word 'respect' and replacing it with 'tolerance'. You need google to read it but is absolutely worth the effort.

Agree Frac and I prefer the term 'windmill'. A turbine is inside a tube. They're cheaper to install and run onshore but there are plenty of problems with that. I'd pay good money to see juststopoil and the RSPB explain why they're right and the other is wrong. The only way to satisfy both fully is to go back a few centuries. UAE's Sultan Al Jaber said phase-out of coal, oil and gas would take world 'back into caves'. He is right. The costs of this evangelism are frightening.

I surprised myself by almost understanding our position. This from the 28 November update:

"As of 31 October 2023, cash and available facilities were $386.3 million, including restricted cash and ring-fenced funds held in joint venture operational accounts totalling $130.7 million."

I struggled to find out what the $130.7 consisted of. The nearest I got was there was something like $95m about JV receivables. Is the $130.7 largely monies due to us but actually in the bank account of a partner?

With the windmills onshore.

https://www.connexionfrance.com/article/French-news/Noise-bird-deaths-Wind-farm-ordered-to-close-for-first-time-in-France

*Anniversaries for 2024 5/01/2023 Labour New Year's Speech by Keir Starmer - "renewables are 9X cheaper than IMPORTED fossil fuels".

19/01/2023 Keir again at Davos “in the UK renewables are 9X cheaper than oil and gas”

Lest we forget. I won't.

My excuse is I'm bored. I blame another investor for mentioning it. Still, hopefully these matching amounts will disappear now that the delisting is over. My interest was more a potential masking of share activity other than the delisting. Let's hope the next movements indicate M&A activity that gets us moving upwards again.

UT funnies again.

UT 684,787 @ 12.91 and after, at the same rate

250,000

904,685

Apartheid

Https://notalotofpeopleknowthat.wordpress.com/2023/12/18/urgent-warning-scotlands-climate-changing-at-alarming-rate/#more-69754

Proof that bad news is always promoted ahead of other news. Even if it is wrong and manufactured. The insurance industry have expensive actuaries and would love to charge high premiums for events that happen once every 50 or 100 years. Competition stops that but if you can manipulate the fear quotient you can control the narrative at least. Come on Scotland - you're better than this.