Member Info for Squif

Dropped the target price 25% ahead of the Ri. I guess they are not buying AB crap.

I laughed when i read mo’s comment that jeffries Wrote that they could not exclude further rights calls because they were upset because they didnt get commission for the sale of kraken. Really??? On another note - who is the polish oil company lotos? Never heard of them. Is that the best that we can do???

It is verging on irresponsible for AB to build a business that depends on poo being 100+. I know he has Said that they have made the business efficient but i dont see that and they should shelve delivering new projects because they dont have the skills for that. It is sad that they will Almost get the same net volume of oil from Magnus that will effectively cost 230m (funded largely by a Ri) as they get from kraken (21k) after 15 months which cost them approx 1,4 bn and brought the company and shareholders to their knees. Thankyou BP i say. Dd - you are Living in fantasy land

Me thinks L3 that dd aka dancing Queen has been enjoying a spliffy wiffy before writing that dribble. Dd blindly follows what people say that are positive. Of course i would like to be positive as well and it is great that they have acquired Magnus dont get me Wrong but it is time for AB and JS to start delivering. 18m fcf after financing with poo averaging above 70 is pathetic. I know there are excuses but it is time for those to stop.

Glad that you have at least got your money back. It is time for AB to start generating returns for shareholders and not just stretch out his hand to us shareholders

Sorry whiteace. You are not the first to be fleeced by AB

Hi l3. It is worse than that. Enquest has borrowed 2bn and Indeed raised approx 100m and in this time thevalue of equity has collapsed 700m. The whole point with borrowing is to make equity more valuablr

Oilman - no use writing such negative comments about enquest on this forum. Everyone here is smoking the Ri pipe and you will be shot down. AB is great! Wonderful person WHO has turned 2bn in debt into -700m in equity!

Would love to see it but dont forget this is AB we are talking about. Regardless everyone will need to folk up the Ri money so as not to be diluted. I agree on paper Magnus looks good and it is what enquest is good at namely bleeding legacy assets. AB med shocking investments in Alma, Galia, scolty and kraken - hopefully he has learnt that they are Crap at bringing a new asset on Line but hopefully they Wont mess up Magnus the new jewel in the cloth

Kk - lets forget reality and go for 70p. Given the announcements it should be the 40p party but everyone seems to be drunk and forgotten the scandal that the bod delivered.

Agreed Jan. AB owes everyone WHO has been through the nightmare when enquest was technically bankrupt. He now must generate returns to shareholders. This is not a charity

This sp has the same credibility as elon musk. I cant believe they went for the heavily discounted Ri. Why kick the shareholders in the teeth again just two years after the last time. AB is sitting pretty. He has had time to prepare. Everyone else can f.off!

I saw that GMP securities have maintained a buy and target price of 60p. Would this be before or after RI impact in others opinion? The SP reaction is disappointing but what to do. I think it has more to do with the lack of FCF after financials in H1 than the RI which should be interpreted positively.

So are you thinking that the shares will gravitate to 26,4 p then mo?

Hi krak. Can you post that link? I am only finding their upgrade to 53pbfrom the 30th july.

Can someone explain that post? Is it simply to visualise what the realised price would have been has the Hedges not been in place? 68 inbthis case. The hedges are a necessary evil but they have helped in the past. Am i Also correct in understanding that the Oz loan will be off b/s?

That is simply not sustainable then is it. The sheer mountain of debt is not sustained by 54k boepd. I cant understand why they maintain guidance of 50-58. That implies that h2 prod can be anywhere between 46 and 62k. Wow! AB - get it together man!

Boepd can be used to pay off debt? I mean allbeit that production is rising but how much can effectively used to pay down debt. Generating 18m to pay down debt h1 is a joke!

Trying to piece this all together. Net debt of 1973 m USD including PIK at 30 June. By April 2019 this should be decreased by (195+175 less the 175 that they are borrowing from Oz) so that should bring us to 1778m. Is that right? What is not shown there was the Magnus loan for the 25% but as others have written that should be now written off due to the 75% accruing from 1st jan 2017. What is concerning is after interest payments, capex and other items (unclear) the net cash flow was 18m (page 14 of the presentation). This was on 54k barrels at a poo of 71 average. This was on a fcf of 339 m on a turnover of 548m. With this performance how are we going to generate 175m to pay down debt in april if we can only generate 18m in half a year? Am I missing something?

That is an interesting point l3. So it is 85% of 70% of kraken plus Alma plus Malaysia and the Old assets that will fund the pay down of 175m. This is insane!