Member Info for Squif

Hi Krak,
Yeah - believe it or not I am highly educated :-) although no experience in the oil industry apart from investing in Enquest for 4,5 years. Anyway, all things considered it was a very good report and lets hope that finally there is a sensible rating of Enquest because what we have is a long way off!

I have learnt to read and re-read the rns from Enquest as unfortunately the devil is in the detail like last time when net debt was down however there was 100m that was for payment to BP. I think that net debt of 1774m is very good - below my expectation of 1811 (E121 was right). Of course Capex was less having been phased so will need to understand that further. Nevertheless, the sp is still way down and there is no momentum up so that is disturbing and difficult to understand. But we are paying down debt (220m) over the course of the year, opex is steady and there does not appear to be grounds for a writedown in Kraken and potential to write-up Magnus.

Woohoo!! Lets get smashed and forget living off bread and water for the past 4 years to pay for ABs excesses!!

There is a link to a section called Investment Case. The link doesnt work unlike the links to Reports, Results and Presentations and Operations. I hope that doesn't mean that there is no investment case in Enquest :-(

Hi Pelle - thanks for the tip! Like the new webpage. Great to see that all our collective losses have actually ended up somewhere. Although I feel depressed because of all the money that AB has lost us it is somewhat better seeing that nice and shiney webpage :-). I credit Ian Wood who I think is very professional in his approach. He must have encouraged AB to leave the dark old ages and move into the 21st century...

I think it is probably naive to think that anything of substance will happen to Enquest on the upside until the next report. The feeling towards Enquest has been totally destroyed by RBC, Barclays and a host of others with rumours of Kraken downgrades, issues with Alma that the sp will simply go up 1% if Brent goes up. Naturally it will go down if Brent goes down but upside is limited. Sad...

Too true krak. Ultimately cash will still be coming in. I think also that we should be earning above brent for kraken oil given the situation with Venezuela, Iran and of course opec

Pmo has had a much healthier move to the upside. +3%. Victoria has crushed all confidence in enquest

Who put the handbrake on Enquests share price? Please remove!

Anything below 1850 in net debt at year end would surely beat the low expectations. I think barclays wrote that they expected net debt to Rise. IF below 1800 and no major write down that would be a huge positive. I will stop dreaming now....

Hi pelle Yes - we worked that out but i still would like to remember that net debt reduction was going to be 180m on annual basis. Not long to wait now. I think the current sp price has an awful lot of negative scenarios Baked into it most likely asset value downgrades. Hopefully this will not be the case. Positive that Alma production was higher - maybe also an explanation for heather

My call is for 1811 in line with moodys and ebitda of 750. IF we do that and get positive rhetoric around Alma and kraken that should lift the sp

So we are at 11 days now. Would hope for something then around friday to be above 35k. Heres hoping

Yeah - i was not that excited when he bought the shares as historically it has had zero impact. The market realises that he is trigger happy and shoots before he thinks. All i take from it is that we have enough money to pay the bills and maybe he got warm and fuzzy because the pipe got fixed. Still waiting for the next tanker and krakens 40k barrels a day as people have stated.

Hi all When did the last tanker leave kraken?

Cant believe that numpty is putting his foot in it again! Interesting that the article states that sa has little interest to help us after the Iran waivers. What a mess but hopefully good news for kraken crude. https://oilprice.com/Energy/Crude-Oil/The-Major-Risk-That-Oil-Markets-Are-Underestimating.html

Interesting - saw the following oil price article. It suggests due to looming Iran and Venezuela sanctions that medium and heavy crude are trading at a premium. Does anyone know what premium could be paid for kraken oil?

Hi e121 I make that 4-6% of 2bn to be 80 to 120m boe so there is an upside to the recoverable oil prediction

Yes. Late Jan or early feb.

We will be getting an operational update in the next few days so hopefully that will reverse some of the downward momentum. It was interesting watching the video - it looks like he had planted some of the questions re RBC and Debt so that he could directly speak out. He is a gentle soft spoken fellow - I would have shown displeasure at the RBC in a stronger way but he seems to take it in his stride. Interestingly he mentioned EBITDA at 750-800 being estimates.This aligns well with moodys estimate of 760M 2018. They also called EBITDA at 950M in 2019 with FCF of 450M. The more I read that analysis the more I tend to agree with it.

He made no point on new acquisitions but as long as there is no new RI I am open to a new acquisition in the style of Magnus to make further use of the tax credits.