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Good post romaron. Essentially pmo copying ABs playbook- theonly thing different being that they have hedged and will be Broadly fcf neutral and enquest should be fcf positive. No one picks this up though apart from the Hardy souls on this forum

Yeah. Around 8-9 with current production. Hopefully They can find more at the three hubs.

Hi hitman. When you write reserves Do you mean monetary or oil?

Save your time with enquest and go stress test tlw and pmo. They need your help more. Probably al Stanton. He should really be brought to justice for being a waste of space

Who knows. One thing i have learnt is not to believe anything that i read any longer. Most articles are written to advance a point of view and get people to act in panic. We were told that oil consumption has fallen 30m barrels. Then we were told that oil storage was not at peak. At least Goldman is predicting an upturn in prices and they are normally right.

Overall a very good interview by AB. He is putting his money where his mouth is. I am doing the same. Taking a risk but continuing to buy at these cheap levels. I believe we will see $60 a barrel quite soon again. Of course there is a risk but they have now become a low cost producer. He maybe looking for another creative deal in Malaysia or NS.

Great pickup modestus. That is good news.

Haha. I have to say - credit to AB. He has really fought tooth and nail to bring this company through the worst crisis ever to engulf the oil industry. I imagine he is looking to do some more creative Magnus deals with the majors but will wait for some visibility. I think that he has learnt some hard and valuable lessons. Q2 is a right-off but it appears that analysts and in particular Goldman are starting to look beyond this period and seeing a fast rebalancing.

I think that it is an absolute disgrace. Al Stanton wants mud to stick so first of all he sends out a half baked analysis and then trots off to the print media to throw even more mud by saying that he fears for a debt equity swap. Agree Romaron that it was a great response and most likely formulated by AB. For f**** sake he is buying shares on a weekly basis - that is more than most Oil CEOs are doing.

Nothing surprises me any longer with that idiot. Why on earth would the democrats allow the us government to invest money in businesses that Do not work at oil prices below $50. The electorate would also punish Trump at the next election. He is between a rock and a hard place. Maybe he is the one drinking dettol? Any way i read the annual report from enquest. Overall quite good and stress tests work as long as prices dont remain at theselevels for extended period. I still Hope that we Will get going in june and oil prices recover in q3.

I must say I don't really know how all this will play out. Assuming low Brent prices for Q2 averaging around $20 let's say and then a re-rating after that as demand picks up and capex cuts and bankruptcies in shale oil play out. This means surely that as long as companies have enough cash to ride out this period then they should survive. Naturally profitability is taking a hit but cash is probably of most concern for most. At $25 break even and 60k average production per day Q2 at the above price assumption would drain cash reserves by $27m. The hit to profitability would naturally be higher with depreciation at $20 a barrell over and above this. The real question in my mind is where Brent will be Q3 and moving forwards. AB has come this far - I don't think he will be throwing in the towel and at the same time buying more shares.

Hopefully that means there is a buyer for kraken oil

Hi Chilts. Hope you are well. Are you still doing tanker spotting or have you cashed in and left enquest? Hope that you still have an eye on it. When was the last load btw?

Agree Pelle. No clue when the sp Will go up again but i am sure it Will soon

That was my feeling as well Romaron. Good that we have parties buying decent sized parcels. I think that there will be pain being inflicted on Russian producers as well. Lets be clear here. This is Trump we are dealing with. He is making sure someone else is also feeling the pain

Hi Romaron - always good to be wary. So in your worst thoughts what do you think this could mean?

Agreed. I topped up again myself today.

Hi Luck. Not sure if you even bothered to tune into the 2019 presentation. The $33 is for 2020 but given the great Q1 that Enquest had it is now $25 for the rest of the year. The $25 covers all opex, capex, finance and leasing costs. As the CFO mentioned they are not at risk of breaching the covenants for the SFA (only) and they have received waivers in the past. You can read the covenents in the prospect for the placement back in 2018. They have cash on hand to cover the requirements. The bond maturity will be extended to 2023 so long as no refinancing is done prior to October 2020 and loans are accumulated as long as brent is below $65. Naturally depreciation costs are not included within the $25 so that will impact profit. Anyway, I think you are the one misleading investors claiming that Enquest will be takenover by creditors so I will report your post. You seem to be NeilHannon.

Hi all long termers. I think that next year is quite plausible for 60p. Hopefully this year but i am realistic. Was holding on by finger nails at 7p. The break even at $25 this year and $27 next year isimpressive

Hi E121, Romaron, 60p, Pelle,
Has there ever been a price differential this extreme between Brent and WTI? That Trump will act is a given. High stakes politics.