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Must think - why bother! Why bother upgrading your target by 1p when the previous analysis was based on rubbish. Maybe they want to claim that their analysis was more correct. I have Done the maths and with poo at 62 we are meeting our debt repayments this year and should bring net debt down to around 1500. Then i am interested to see what dc4 and Magnus brings. Dont think they are properly included

Agree that our target for this year should be net debt below 1,5 bn and production of 70k next year.

Hangon krak - our capex for this year is 275 and Opex is 600. 875 all told and then we have financing of about 150. Over and above is fcf. Moodys predicting 450m with brent at 65.

More or less sums up enquest :-(

IF AB does know how to generate money for shareholders. I realise he has a lot of industry experience but he appears to be clueless visavis how to generate returns for shareholders. Disappointed

As stated there does not seem to be a big shorter, no updates to the targets based on the ops update but someone is selling and pushing the price down or at least keeping it in check. Doesnt appear to be a major shareholder so who could it be?

Looking at the website it appears only that baillie gifford is a little below where they should have been at. 94 m rather than 99. Some are slightly above which is positive

very Frustrating what is going on with enquest sp. Lots of automated trades. Maybe the institutions are selling out?

Hi doll - i was agreeing simply with your assessment IF the rns. My view of the market reaction is my own

I agree doll. I think the market reaction today was very strange. I believe that we could have an ebitda of 800m and remaining 720m on the rcf so quite frankly it makes no sense

I really wonder what is moving this sp. It is apparently not the results but something else. Poo is at a comfort level but the shorters are continuing to short the share. Can't believe that new report as I see that they are still very active today so maybe there are new funds that have stepped up. I am not selling so they can f#¤k off!

I hope that AB has learnt an expensive lesson and that is to not invest in new projects. Magnus looks to be a gem (thankyou BP for saving our skin). Hopefully AB has another Magnus in the offing.

L3 - good points.'

Looks like the autobots have got hold of the sp again but this can only go on so long.... It is bloody annoying though

Interesting that you pick up on that E121. I agree that both are appealing but would prefer the RCF to be at 700 and a slightly lower EBITDA :-).

I have to give Minerb right on this one. Again, unfortunately, a case of slight of hand by enquest. Instead of writing what opex will be they state that it will be 600m. With average production of 63k this equates to roughly 26 and with 70k it is 23,5. I simply don't understand why they need to engage in this sort of stuff

I have to give Minerb right on this one. Again, unfortunately, a case of slight of hand by enquest. Instead of writing what opex will be they state that it will be 600m. With average production of 63k this equates to roughly 26 and with 70k it is 23,5. I simply don't understand why they need to engage in this sort of stuff

I have to give Minerb right on this one. Again, unfortunately, a case of slight of hand by enquest. Instead of writing what opex will be they state that it will be 600m. With average production of 63k this equates to roughly 26 and with 70k it is 23,5. I simply don't understand why they need to engage in this sort of stuff

Minerb - barclays wrote that net debt would be unchanged. Nothing could be further from the truth.

Thanks for clarifying,

I hope that we get a rerate from RBC and Barclays if they can understand the subtleties.

Minerb - I think that your work is done here now. Collect your fees from Victoria

Great points L3. Indeed with your points the debt would have almost been spot on 1811 that I was calling. As said the devil is always in the details. Deferred Capex is a new concept to grapple with :-).

To your point on the Magnus 100m. This is something I may have missed. Does Enquest get 100M back from BP once they have paid down the vendor loan of 100m or do you mean something else?

Agree - Ramblaron has lost his marbles