Member Info for Squif

Fully agree romoron. I find comfort in that that it will eveeentuallyyy find its way even into our sp

Hi Auson,
I guess that is directed towards me. Not sure your point but would also say you cant say look at PMO down 0.2% today and Enquest up 0,2% - wow we are better. That is like looking through a toilet roll and saying today looks good. I think we need to look over the last 6 months.

Pelle - completely agree. Nevertheless we need to add in perspective of time and Kraken perhaps was viewed differently last year and not sure what Brent was at but this is key. Running a company is not just to please the CEO that he feels good about himself that he is a CEO. They need to generate returns for the shareholders and not just the debt holders.

Hi Profitaker - completely agree that his role is to operate the company but if it is not his role to make the market aware of the value of Enquest then who has that role - us?

I would go as far to say that the current market cap of Enquest is the equivalent of the value the market puts on Magnus. If Magnus has a NPV of 500m usd at 70 Brent and we are below 400m with Brent at 65 then that looks pretty close to me. That is to say that AB has managed to pump Enquest full of debt and deflated the company to 0. That means that the deal last autumn was desparately needed to give the company some market value. I am of course glad that we are not bankrupt but that is a shocking result for someone with industry background.

I guess IF one wanted to be negative on enquest there is plenty to find. The quoted net debt does not take all debt into consideration (Magnus and kraken). It is frustrating

I reread the analyses from rbc and barclays. Barclays thinks that we will fall short with our finances by 135 musd and rbc thought that our net debt would go down from 1,73 (below reported) to 1,65. Amazing that two vastly different analyses came to the same result - 16-18p. So IF we end up with a net debt this year of 1,5 bn (which i think would be very good) it wont impact their price targets. Lol

What i cant work out is the market cap is 330 mgbp. We shareholders have paid in 200 mgbp in Ri, we got 30m from bumi and bought Magnus that has an npv of 500musd at poo of 70. Where has all the value gone?

Hi chilts and pelle. No worries. I will still be here until we hit 0p. I have decided that AB and i are going down together. Feels better that way ;-)

Krak - its over i am afraid. I have grown to admire the unbridled enthusiasm of many on this board such as yourself, chilting, e121, mo but this is a sinking ship. I have mentally written off this investment and although we all like to think that our analyses have an impact on price the sad fact is it has zero impact. Even dc4 drilling has no impact. The analysts and market have determined that enquest is to go down and down it shall go.

Pelle - please go for it! You will probably be replacing one of the Khan brothers. Placing in Dubai so a bit hotter than Sweden :-). You will be great at it

Anything would be better than the cr&p they have now running their hedge program. What a mess! I know that we should not focus on the day 2 day movements of the sp but we are exactly where we probably should be. The markets confidence in AB ability to lead this company in a competent mannen is gone. Not to be replaced. That we shareholders paid 21p a share for an asset that was claimed to be worth 500m npv with poo at 70 and now the company is valued in total with poo at 65 for 400m. Well that says it all.

Accept all the arguments as to why we have bot moved an inch but ultimately the buck stops at the CEO. He has Done a useless job promoting the share....

Yes. 21st I believe WEny. Hopefully we should see the sp climb moving towards that date.

It would be a perfect response with poo well above 64 now for enquest to crawl over 20p. Feels like the bar being set at 2,5 m for a high jumper but maybe just maybe. Fingers crossed

Must admit disappointed that despite his dissappearance we have not rocketed up to anywhere near where we should be :-(

Saw in investors chronicle that rbc was predicting that net debt would be 1,74 musd at year end 2018 and 1,66 musd at year end 2019. They are predicting a cash shortfall again as is barclays so it will be key for enquest to highlight this on the earnings call.

IF my memory serves me right they motivated their target price with zero debt reduction 2018. So obviously the debt reduction of 225 musd motivates a 1p target price increase ...

Minerb - lol!

So that puts us around 35-36k per day then chilts