Member Info for romaron

In a past life I'd be heading for the bar about now to celebrate. Juan, that is probably an important milestone 21p.

Dunno, but before they moved into closed session several were looking at their smart phones. Maybe there's a clue there.

There is no official bulletin yet but the Saudi Energy Minister did say before going offline that the media seems to be ahead of the announcement. Obviously due to leaks and contacts.
My daughter had her phone stolen so I sold 100 on City Index at 21.50 for a £636 profit towards her new phone. It was 21.34-21.57 and it went through instantly.

So many scenarios. Just with Saudi Arabia.
Extend cut means low demand. Sell
Cut- well they're not bothered so demand must be higher. Buy
Obviously done a deal with US or Russia. Buy/Sell etc...
You can add more but I imagine that each country has their own intelligence and projection for future oil demand. I'm aligned with their self interest which isn't lower oil and an understanding that there has been several years of under investment making the variable, supply, much more subjective. In comparison demand is relatively inelastic and it's Covid dampening it. Beat Covid and we're off to the races imo.

I have no one to blame but everyone else!

Very funny.

BTW, I forgot - Ammu told me he was training to be a mime artist. I haven't heard from him since.

Hi hitman - I've thought this for sometime. I imagine many here have more than they intended (OO and RI) but you've left off the II's already in. To avoid double counting I've eliminated Hargreaves and Avanza
https://markets.ft.com/data/equities/tearsheet/profile?s=ENQ:LSE That leaves 493 mio Add Bseisu and associates 178mio
https://www.enquest.com/investors/shareholder-information/shareholder-meetings/major-shareholders
For wet finger accounting let's say there is 1bio shares available. A milllion shares apiece is enough and the people I know have more than that. I have no idea of the average holding by retail investors but I'm not a seller and neither are they. There will always be speculative money but it tends to go home square at night. I agree that if you wanted "size" it is going to be difficult. In fairness there are other companies looking attractive. PMO for one.

I rip what I sew.

I look on the bright side. For example we aren't inundated with BTFATH1 and his blow by blow account of his trading so it looks like he missed the boat.
Sometimes the only way to get past something is to go through it. You can’t go around it, so just go through it.

Why spoil thing Juan. Now you've given him a reason to return.

Isn't it more a case of what the U.S. wants? Too high - threatens recovery, too low threatens the U.S. oil industry. Back in April Trump told MBS "“We are defending your industry while you’re destroying ours.” That ultimatum could upend a 75 year strategic alliance. The Saudi's blinked and Trump took the plaudits.
Today it's a different administration that is not overlooking the Khashoggi assassination. U.S. imposes sanctions on Russia over Navalnay. I can only assume self-interest from each party and Biden has enough on his plate so I predict, more of the same.

That was an excellent article Modestus. Quite simple to understand and the world always prepared to believe "this time is different". Cheap money is always welcome and with low interest rates the banks take on a more risk. We've seen the RBL effect here with "impairments".
Will the author be right? To put it simply, RBLs will be practically nonexistent by the end of 2021"?
There will always be lenders and in the vacuum caused by the traditional lenders retreat there will be private finance. They of course exact a higher price.
Cash really is King.
The article ends with "The feeling is mutual, so you shouldn't be surprised to see E&Ps building up a cash position, pay a variable dividend, and shareholders benefiting. This is where we are headed."
The future is bright for us.

Hi Pelle - half truths and spin but he does work hard at it. It's either his job or he's friendless. In 2.5 years he's posted 3.5 times what took me10 years and my wife moans that I spend to much time on "the forum". If I posted as frequently as gkb I'd be over 40,000 posts by now. Luckily, I have a life.
Regarding his latest post it is somebody talking their book. Rings a bit differently if you read this:
https://energy.economictimes.indiatimes.com/news/oil-and-gas/owners-of-permian-producer-doublepoint-plan-5-billion-sale/68107184

spin - that's a terrible analogy. A better analogy is that it's the equivalent of investing in Shire horses as tractors came on the scene. What made that happen was that one barrel of oil is worth 2,279 horse power hours. In human labour terms it is worth anywhere between 1-7 years. He's just going with the ESG flow. We could be heading back towards Shire horses with the price they want for renewables. In fact they're already cheaper than hydrogen or *"fool" cells. At least you can always get a bag of hay to continue your journey! *that's what Elon Musk describes fuel cells as

My ox-cart investment was inspired! I wonder if I should double-up?

BTW he was talking 2040 carbon neutral. That's 18 years away.

Hi GD - Afraid the book is closed. The "not so" magnificent seven were pretty random choices but it was more to see if my prediction that we're as likely to get it right as the Reuter's professionals. I will however buy you a drink at the 60p party.

Be lucky

I thought it was quite common in business to restock? If you know of any oil companies giving away production and reserves for free could you give EnQuest the details gkb.

Hi E - I only googled but it says that upstream oil and gas is 30%. I only commented because I was listening to R4 this morning whilst walking. They are talking of raising the corporation tax from 19 to 25 percent. If they fiddle with that then the likelihood is that they'll fiddle with O&G?

Right. All figures in. Brent oil average for 2021.
L7 64.4
hitman 66.5
Juan 67
Therapist 71.19
romaron 72
E121 75.5
Pelle 85
I cut the top and bottom so the middle 5 average is 70.44 All 7 have a ticket for a bottle of Bollinger; closest wins.
It actually shows we are a conservative bunch imo. It is only a game and the intention was to prove our blindfolded pin sticking could be as accurate as the Reuter's poll. It is a standard bottle (75cl) of Bollinger despite Juan trying to make it a magnum and I did consider making it a miniature if he wins. I was also considering making Pelle eat a pickled sardine buried in my back garden for 10 months along with the champagne for his attempt at gaming the poll. However, I am not a spiteful person and will keep it simple. GLA.

*I think L3Trader is an algorithm

Hi E121- from another post you guessed $75 for Brent average 2021. Is that correct?
Only waiting for L7 who is adjusting his bell curve and deciding how many decimal points.

*will an increase in corporation tax on Wednesday give a small filip to the share price. I realise it'll only be temporary but our tax credits will be worth more on a NPV basis. Not massive but might just titillate an accountant.

chilting - If Corvid turns up we are in trouble. Didn't Hitch**** make a film around it where a woman gets pecked to death in a shower?

Ah- you run the risk of being discarded. Is that your final answer? I didn't invite gkb because an estimate of c. $30 would have had a similar result at the other end. I expect a statistician to say that between me and Juan we've buggered it up already.

Thanks for that Therapist and this is something separate.
https://www.petronas.com/mpm/news/petronas-awards-offshore-block-peninsular-malaysia-enquest-and-petronas-carigali
We have a footprint in that part of the world and influence that others do not. Good point about Richard Hall from Squif too. It isn't always what you know. Sometimes its "who you know". The City works like that. Maybe it is only a feeling but I get the impression that EnQuest is better thought of in Malaysia than the UK. That part of the world made the Sultan of Brunei rich. Perhaps it'll work for us too.

*On the Petronas page they also mention (SFA) Small Field Assets. I wonder if Eagle was considered a SFA by EnQuest?