Member Info for Squif

Agree Ammu. We have been here so many times with this pile of **** company. IR could quite easily have come out with some statement to calm the market but no as usual they allow us shareholders to be slaughtered as they don't give a monkeys for us. AB earns money any way that he can and siphons it off claiming it to be losses on hedges and then dilutes us with another RI. The market don't buy this operating financial model any longer.

AB - come out with your hands up!!!

lol. What are you smoking Romaron?

AB should be held accountable for the poor IR, disdain he shows to shareholders and this is what the market is expressing with this sp. AB is a loser and failure pretending to be CEO of his own private company. We are now at the end of the road of this charade. He has bled this stone to death with all these failure RIs he has initiated.

Because he only provides corporate speak responses. I need to Communicate with someone WHO will Tell the truth what is going on inside

AB is ****ing himself with laughter reading all this positive speculation. He wonders what sort of tales he can spin next report. Reread yesterday that we had realised and unrealised Hedge losses of 60m H1 - that is a good place to hide pocket money for the next RI - i would like more visibility on these ”rounding errors”. Why are those guys in charge of the Hedges still employed!!!

Yes one day but that maybe in 10 years. He makes money pretending to be a CEO everyday with his bonus payouts and his salary continuing this charade. He holds all the cards.

I often wonder about Enquest Producer sitting there in Nig. We all assume that he will sell / deploy this one day. It is not serving anyone's interests sitting there...... No compelling event for him to do anything.

I definitely think that AB wants to buy more stock. Ideally he will find a new GE, get down on his knees and say the only way he can do this is with an RI, then he will dilute the stock and buy at 19p or below. Why change a winning formula?

Criminals repeat their modus operandi until they are stopped. Financial crime watchers have nothing on him so he will continue to bugger investors unchecked. Got to admire the guy and he is laughing at us I can guarantee it.

AB is doing a sterling job sandbagging the sp so he can reduce his average price. I am sure he has a good old laugh everytime you and Pelle write to him asking for timeline for dividends or what he should do with his money. It is like Oilver Twist coming and asking for some more scraps. lol

I will write to AB - Show me the Money!!

Agree with your Comments re dividends and the communication Skills of enquest. The current state of both reflects a high level of disdain for shareholders not called Amjad bseisu….

Enquest Money v AB private bank. Why 250m when the asset was in their hands for 9 months? Something again doesnt add up. It is so Easy for AB to hide things from us

Pelle - then in terms of net debt year end we more or less arrive at the same number. So somewhere 200m is disappearing when compared with barclays ananlysis!!!

Correction - so net borrowing of $275 (GE purchase price less RI of $50M) gives a net debt reduction of $455M against what Barclays writes of FCF $500M + 30% that is to say $650M at $70 Brent which coincidentally is what we have YTD for 2021.

I would like to see an updated set of accounts from Enquest. In theory what you write Pelle would make perfect sense but we know there is significant "leakage" of monies somewhere whether through sheer incompetence or more sinister actions on the part of AB. Cold hard facts - Average Brent YTD is $70. At H1 net debt was down $96.5M for a "bunch of reasons" as always.....

As someone posted yesterday Investor Relations said we should count with target production + 2,000. The net debt at H1 did not include the Magnus loan which should have been cleared by now and rolled up into the new RCF of $600M. If it was included I get a net debt of $1,246BN at H1 as Magnus including interest was around $60M.

So what have we ended up paying for GE after net profit was deducted and the RI of $50M? If we are generous and assume a nice round figure of $150M then we have a net debt of $1,396BN after GE closes. If we assume average production during H2 then of 48K (which is H1 + 2,000) and the average brent price during H2 which has been closer to $75 then I get FCF of $225M leaving a net debt of close to $1,17BN.

So, with an average Brent of $70 for the year and including the effects of GE (so average daily production close to 58k) the sum of all these actions is a change in net debt from $1,28 BN to $1,17BN less 60M for Magnus so we account similarly which gives a net debt reduction of $180M.

So behind all these "smoke and mirrors" of raising capital, buying new assets and so forth Average Brent of $70 for the year will yield a net debt reduction of somewhere in the vicinity of $200M. It is almost like Ole Gunnar Solskjaer who has amassed a team of expensive talent and should on paper win the league but loses 0-5 to Liverpool at home.

Where is the "leakage"????

Right - I will pm you later

Oil please change your calculator. 11 to 24 is 120% up. And why on earth would one select pmo as a comparison? That board should be behind bars. End of last week everyone on this board was claiming that on monday we would be up. We are down about 5% on the week!

Yes i would romaron. We all have to put up with the long drivel that you post on this board daily!!!! and to what avail? The share is still worthless. Cold hard fact

Wake up and smell the cheese old man romaron. You try and tell us everything will be ok, the sp is going to the moon, build it and they will come. Who?? The bailiffs??? The sp is going backwards and the information department should be fired. This is the worst performance I have ever witnessed from a company and oil is at $84!!! Do you work for Enquest Romaron???

Romaron - at your age I would be worried about dying before getting your money back

up 200%???? From when??? This time last year we were at 9.78p. We started the year at 11.78p so we are up 100% or is your calculator dodgy?? We are up from a point of being in the dust bin.