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Squif I have reported your post to both the admin and to Enquest given that it borders on slander. I see it as a harbinger of good news that there are so many old and new doom and gloomers that have appeared on the messageboard in the last week or so. Fernan and L3 have desperately tried using selective numbers to paint a negative picture, only to have been quickly shot down with facts. Although Enq is in a fantadtic position, I feel that H2 is when the SP fireworks will really begin. The market won't be able to ignore the facts for too much longer. I'm in the MO camp. Great things await.
Thanks E121. Another excellent post to thwack posters who are so clearly trying to spook investors. Thank you for continuing to post. I do hope Investor Relations are reading comments on this messageboard and take heed to your points regarding the issuing of future guidance as part of Friday's update. Regardless of this, the future is bright and there is no way I will sell a single share until DC4 fully functional and the remaining 75 percent of Magnus is part of our portfolio. Best of luck to all.
SK Let me remind you of your post earlier today:
“Expect SP drops Fri and next week. I think ninga baby will get his 115p. IMO” Funny how you magically seem to have now bought in now the price has risen nicely. Cynics may accuse you of being a Fantasy Hindsight Trader.
Fernan, there is nothing unusual about the figures. I think Shell's and BP's fields reservoirs also deplete over time. At 60 plus dollars the economics are very good with the debt being paid down very quickly. Don't forget, over time there will always be EOR etc to prolong the life of fields even further. And worry not Fernan I'm sure once debt is paid down and Enquest are near being in the black again, new projects will be added to the portfolio to replace reserves. Thats always been the Enquest strategy. In the meantime the Kraken will be roaring til that debt is heavily paid down. And if oil prices stay at these levels or higher, that will be sooner rather than later..
Yes Fernan and can you also let us know the name of the presentation you are referring to so everyone can read it first hand. In your peculiarly worded post, it would appear due to the yearly decline rates you elude to1 , Kraken will producing nothing in a few years time. Enquest just this year said they had 17 years of production left, together with the amount of reserves. As an engineer you should surely be more factual and provide more information when make such claims. If you are indeed an engineer.
It appears to be an old rating by Barclays (seen in the KL daily). Nothing new has been published by Barclays since the latest RNS.
Yes of course my money had the same value as yours. But do not repeat misleading and factually incorrect statements as these can affect the shareprice and land you in legal trouble. I did raise the point that more should be done about users on these mesaageboard who deliberately make false statements with the intention to mislead (we all know who they are). The company said they are looking into it and for us users to report the posts to LSE using the report button as this would always help with any potential action. I will also be writing to the FSA.
Nobody said II's sold out. I would be very careful with your words Krakenoil. In fact due to overexposed and emotional investors (I say investor to be kind) like yourself the price is falling and allowing the large number of 100k buys to go through today. Not to mention the 1m buy at 11:10. If you think the fundamentals have changed then sell and stop the constant whinging.
A lot of people foolishly look at the numpties that come on this site (who claim to have made thousands by trading it, special knowledge or who own 900k), and then become impatient themselves and angry with Enquest. This is greed element of human nature I suppose. But Enquest are doing all they can. I strongly advise filtering these Walter Mitty dreamers who slander and try to damage the integrity of AB or try to distort the facts and figures regarding production. Please DO NOT dignify these clowns by respinding to them as they don't care about facts. I have no plan to sell any shares until the key milestones have been reached wrt debt and production targets. The SP really doesn't bother me. I look at it and laugh at how easy it is for MMs to pick the pockets of the fickle. Very amusing. In all honesty I wouldn't even sell at 60/70 unless the milestones have been achieved. Yes I may lose out on trading it but I can live my life more comfortably and happily without anxiety or panic. Jam tomorrow. Stay healthy fellow Enquesters!!!
From where I was sitting there was no concern about the frequency nor loads. And besides a lot of this goes over my head... you and Chilts have kept me sane on that front for past weeks and months. Everything seemed as per plan though. But I would definitely email IR who appeared extremely professional and helpful. They also commented on the discount to Brent. Ranged between 3 and 6 dollars but depended on the deal being done and quantity sold etc. They were very transparent about this too and Jonathan Sweeney is no slouch wrt commercial acumen. I went to the meeting pleased with the RNS but needed to see their attitude and conduct during the meeting. I was happy they weren't messing around with new licenses and distractions. And I am happy that they are firmly committed to paying down the debt - this was the big take out for me... it was continuously reitterated!! Q3 will see a lot of optimisation work and milestones achieved, and October will see a huge chunk of debt paid down. I feel a farmout could also be annouced at any time, and more Magnus type low risk deals.
Hi DD you are correct with most of your assertions regarding the SP and reasons to be optimistic. I was also present at the AGM today and agree with what most of what the posters (in attendance) have said in their write ups with regards to the positive sentiment. I would however say that it is inaccurate for some posts to comment that Institutional Investors have pulled out. What was instead implied by the Board was that they (ii's) can have a stabilising affect on the share price and make it move quickly too, and there 'weren't as many as they would like'. Which is an obvious point. We can see ourselves that some of the Norwegians have reduced their holding but have not pulled out completely by any means. It was not said directly but all of what was implied was SP was due to debt status. This is being paid down as a priority. They were also very understandably vague with regards to details regarding the potential farm out due to the commercially sensitive nature of the deal. But I trust AB and his team will make the right decision. This is a very professional Board with a lot of personal wealth invested, as well as professional credibility on the line. Overall i felt it was a very bullish AGM with the Board showing confidence in the future and seemed very relaxed with where the company is heading. I got the distinct feeling that Amjad is not sitting on his hands and is continuing his search for value adding opportunities. I think he has a few surprises up his sleeve.... The Share Price is not something they can control. But providing value and delivering what they say they will, is. In time the market cap will reflect this when the Hedge Funds and IIs come charging in and the weak and impatient have been shaken out through fear or boredom. Reduction of 50 million debt is great for a start. Very pleasing indeed. As is getting Kraken up and running, albeit later than planned. I think the SP would have taken a hit today regardless of RNS.
There are some excellent write ups on the AGM on the iii Enquest website. Well worth a read and will reassure many on here who seem to be in a crazed frenzy. Good luck all.
Thank you MO for continuing to provide genuine insights and information. I think you are right that we need to be careful of the knee jerk reactions from derampers but even more careful of the subtle derampers who are new to this board and here to subtly bring fear and doubts in the minds of the weaker over exposed investors. Wolves in sheep's clothing. Switch off and enjoy the sunshine. Patience will pay off. Fundamentals. Fundamentals. Fundamentals. Good luck all.
I agree DD. Fernan often posts negative info dressed up as if he has industry knowledge, and then ends his detamp with the word "thoughts?". My annoyance has nothing to do with my desire to hear a one sided story. On the contrary. But what I do detest are the wolves in sheep's clothing. Squif and Indy (an enq investor who has made 20k profit lol) are extremely transparent which is why they don't even warrant a reply and more fool the people that do. Just ignore the trolls!! Even if you can put them in their place. Ignore them!!! This is your investment!
What's the real motive behind your messages Fernan? Through the last RNS it was made clear that there is an optimisation project about to commence and the market has already punished Enquest where they felt there was poor performance. The SP very clearly reflects this.
Good to see that GSA have reduced the short position that they declared late last week. This is certainly good news and I expect them and other shorters to be very nervous at the moment. The phrase running for the hills springs to mind..
Thank you Jan and MO. Just to add to your points, when Enq release positive news, these shorters will be scrambling to desperately buy back these shares in order to close out their shorts. This will add additional propulsion to the share price's jet engines. Shorting is a very risky game. I am sure AB will have a stack of RNS's that will be ready to launch at strategic times. We have plenty of time to catch up with our peers' market cap. No rush. Patience will be rewarded.
The Buckee videos have been invaluable and I too have watched many times, as well as looking at how much money Buckee has invested himself or part of his family fund. AB knows the city well and has meaningful experience of running large companies. I admired him for being able to walk away from the Dalek offer (who knew Enq were desperate at the time). What a decision that has turned out to be! I still maintain that the opening of the data room serves as a means of inviting potential predators into the Enq den. They would no doubt be licking their lips at the numbers. I do not believe they will sell off 20 percent of Kraken unless they have another Magnus type tasty deal in the wings. One thing I know for sure is that AB will not be sitting on his hands at the moment...
Romoran, thanks for your response. In the new high tech trading environment, there are legitimate ways to manipulate the price and the complex algorithms and the use of bots etc. to assist with that. The reason behind doing so is another question. Could very well be benign ie large order to fill etc or indeed an accumulation prior to stakebuilding/takeover etc. Or more sinister. We just don't know. The same is true of the motives people have. Miliband moving to International Rescue was most likely down to escaping what he probably saw as an embarrassment of losing to his brother despite being the favourite and having all the Labour big guns supporting him. A huge salary and sampling life in NYC also can't be bad. Not sure of Lewis' motives but I wouldnt bet that they would be completely selfless. Back to Enq I am comfortable the stock is not flying high ready to be shot down as I am a LTH. I am continuously pouring through the data. As have shrewd Dalek, BG, Aberforth, and the banks who gave Enquest a lifeline at the time of their critical financial restructuring. I also recently studied the Ithaca takeover and the parallels are very surprising with Enquest proving imho to be greater value. It's a fact that companies need debt as a tool to grow. Tullow is a master at this. However, many IIs and Hedgies have strict processes that cover investing in companies with large debt. When the financial health of Enq is better at the end of the year and the portfolio is optimised the large investors will smell the sweet scent of money from afar. This board gives me diverse viewpoints (albeit many paid cockroaches) and the tanker tracking that is kindly shared by Chilts and MO help me feel much more comfortable about my investment. Thanks guys. Surely that in itself in answer to your original question is reason enough to frequent this board?
Romoron Can I ask if you ever lived on Oakwood Road? You remind me of the neighbour who always punctured my football when it was kicked over the fence and used to shout abuse at me for riding my BMX on the pavement. Most of what's posted on these boards is drivel but you have unfortunately added to that. May I suggest you use the filter feature. Can you also share your evidence for proving that stocks aren't manipulated and why your opinion on the matter must be correct and why everyone who disagrees must be 'intellectyally challenged' as you put it? After all traders and the like are all very honourable and alturistic human beings, as are all company directors.