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Thanks fernan for highlighting how debt covenant compliance is to be calculated. I agree with Jan - this is defamatory

Pelle - would you not say that they could get a waiver again IF it was to fail the test? I think it will be interesting to see how shale develops over the coming months - see article in oilprice re declining activity. WTi below 50 is a challenge

I sincerely hope that enquest does not send out an rns as this typically caused the sp to drop 30%. AB has lost touch.

I think there are forces at play here beyond what appears on the surface. It could well be that a takeover is being prepared - we saw a company that romaron highlighted and quite frankly enquest is there for the taking. I know that no one else agrees but the sp reflects ABs performance - abysmal. It is time for him to talk it up or get ready for a hostile takeover and i am not sure he would win that despite his 10%. It quite simply is not good enough.

Did you speak to Ian Wood Jan? Agree it would be good although i am not holding my breath. Sometimes this exaggerates the situation by giving some credibility to the claims although a clarification would be good.

Hi kraken I am not saying that be is 66 - i am saying that that is the number we need to pay down debt comfortably not just this year but up until 2021. IF it is 60 this year we might just make it but then poo needs to be significantly higher next year. The other concern is the write down on kraken - this has been speculated upon in other channels.

Hi pelle I get 200m with poo at 60. I use Opex and depletion with 24 each but i think they will decrease slightly with Magnus? To be comfortable we need poo at 70. I still think that 66 is the magic number and henne why we pay interest on the notes at 66.

Enquest must surely make a statement regarding this shareprice target if the facts (covenant breach) are flawed. This for me is the great problem with Enquest - there is apparently no substance in the sp. The sp can be moved at will be both algobots and banks. It is time for AB to step up and show that he is a business leader!

Just when you thought we were picking ourselves off the floor - Enquest is like a brown log that continually floats to the bottom of the bowl. Just waiting for the algobots to flush it down....

The last quarter has seen a steep downturn in shale drilling. Is this entirely due to the drop in poo or are the nay sayers being proved right that the rate of increase will not continue. Lets see what Trump tweets about this. https://oilprice.com/Energy/Crude-Oil/New-Data-Suggests-Shocking-Shale-Slowdown.html

Thanks pelle. I missed those figures from gca - certainly 2025 is a long haul but what is another 6 years after 4,5 years of pain. It is all about time horizons. I imagine that AB doesnt care IF his investment doesnt top until he wants to get out - the question is when is that? 2025 or 2035? This is his retirement egg

The real value with enquest lies in all the accumulated losses but how to get at them? Enquest will never earn enough money so for now there is now risk that they will ever be seen...

I think that bp was very generous with the Magnus sullom deal - maybe they need enquest to keep going? Without them enquest would be dead due to company mismanagement. Shareholders have been shafted. L3 - do you see 32p as tops or could we squeeze out a few extra p with a higher poo?

Agree. Kraken is a huge disappointment but i think that bp has saved enquest by selling Magnus ”cheaply” to enquest. Hopefully this will save enquest from the mistakes with kraken, Alma, galia and scolty.

We need chilts to decipher what has gone on here or even better mo...

I think the us china Trade spat could work out nickeltest and support oil. The Iran sanctions are worthless and were a mechanism for Trump to fool saudi and russia and put pressure on Opec+. That will disappear through further extensions

I think that they are releasing barrels from the spr to massage the figures

Good post l3. My call for net debt at year end is 1811 musd.

I think Trump is shorting the markets with all his useless tweets - a real twithead

Markets are designed to boom and bust - that is the American way as sick as it is - most people there are sick as well. One has to look beyond this period and see what is really going on. Appears that rate hiking is nearing the end and Opec is going to do whatever it takes to settle oil markets unlike nuthead. Hopefully that will calm markets. Analysts are calling for brent at 65 in q1 however that may happen but that is the crazy nature of markets. Just as quickly as it can disintegrate it can go up unexplainedly.