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So chilts - you guess that the russkies want to force Opecs hand? Seems that china stats spooked the oil market today

This market is being pushed to suit an agenda. Is this to force Trump or Opecs hand?

There are simply no fundamentals at play any longer here. This is quite simply ridiculous.

Seem to have reversed course somewhat with enquest today. Lets hope this persists

Trump is probably also thinking what can i stimulate the world Economy with now that i have Done tax cuts. I will pull a fast one on Opec and blackmail msb to pump more oil. Voilà!

Yeah. IF it has taken mueller 1,5 years to do a proper investigation and he has interviewed thousands of people and he is not ready how good is the CIA analysis after 5 weeks and soeculation?

And it is so predictable that the CIA and Trump start talking about kashoggi now. Trump is doing this to pressure saudi and msb. He couldnt care less about kashoggi. Read that he offered to meet his fiance and she Said no way do i want to meet you. The same reaction was sent by Pennsylvania to Trump. Funny when us says that msb is not fit for Office - like the pot calling the kettle black.

But i have nothing against ineos buying enquest for 45p a share :-).AB has made big mistakes with Alma and kraken and the production does not match an investment of 3bn. What a joke! He really should be fired as CEO IF this was a proper functioning company

L3 - lets wait a second. Mr market is made up of simple people with a lot of money and they make decisions based on simple ideas. At the moment i believe that the philosophy is to short brittish oil stocks due to poo uncertainty and brexit - not so much company specific.

Hi pelle My reading over and above the 25% Magnus deal that from the 1 january 2017 that enough has been generated from the 75% to pay back halfvof the 200m loan so only 100m will be outstanding. This was confirmed by moodys. Maybe moodys is counting so of that payment back in the 285 for 2018 which would make sense as they take this up in their analysis.

Agreed romaron. What does ineos deal mean for Magnus purchase? Fair value or could AB have got a better bargain? Agree with L3. Debt purchases need to be stopped until enquest has generated shareholder value. We cannot become a disposal bin for others assets. When the Magnus transaction goes through we will have reserves of 270m barrels. I have read somewhere that typically a barrel is valued at 10 dollars so enquest going value should be close to 2,7 bn.

Moodys are calling a net debt improvement of 700m until end 2019. That is almost 1,5 Times market cap!

Oil market being heavily manipulated and now news coming out that CIA is pinning kashoggi murder to msb. Hmm - that was all quiet when Iran sanctions were raging and now when saudi and Opec talking about 1,4m barrel cut - the rhetoric starts and wont Trump start tweeting that. I think also that UK oil stocks have been shorted over oil and brexit. Not showing up in the stats over shorts yet but most of the heavy action of late has been algobot selling. Hope that moody report supports and lifts enquest - the reverse would have been true - that is a downgrade would have sunk enquest sp.

Thanks pelle. Good news! Hopefully translates into a higher sp. Need that after this shitty week

On a positive note L3 we should not forget Magnus which increased production to over 17k in August. I dont think this is reflected in the sp and could materially help with debt downpayment

Good considered post L3. I was very surprised about the reaction towards pmo yesterday but as you write expectations were likely for a higher debt reduction. It really feels like dark days now but maybe that is where it changes? Agree also that political agendas will drive poo in the coming weeks. What is your price target year end? Mine is 75

Agree fully L3. Just read report from H1 again and saw that heather should have been works over as well as Malaysia and Alma. I know that we have mo but given the company’s dire situation it would be good to get updates on those too. Really think that enquest should appoint a competent CEO. AB has money and maybe his long term goal is to dilute the other shareholders by underperforming consistently and continuing to do rights issues but that will not hold. Thoughts on that L3?

Hi pelle. Agreed - question is is it sufficient? I guess even with Alma at 40+ days it is somewhere around 10k (6,5 net to enquest) with 500k tankers. Nevertheless my concern is that Magnus deal will be closed at year end so can we count Magnus barrels to production 2018? Think not. Prod estimates for 2019 will come in Jan and that will include Magnus. I think we should see prod around 58-60 under these conditions. Re debt update saw that there was one in december last year but was there none in june as you write? Think they will do one this time particuarly given focus on debt.

And what are the chances of that given AB track record? Bit depressed on enquest forum. Maybe reality sinking in... L3 - will you act based at all upon what pmo achieves? Like IF pmo could pay down then maybe good sign for the poor relative enquest?

Sigh. 170m in h2? Is that really realistic given what we know re kraken and Alma?