Member Info for Stupmy

There are now very good reasons for the companies prospects to be significantly improved and for the SP to move up, and it has done to an extent. But if you look back over previous years we've had large rises, which we all welcomed and tried to rationalise that were really on the back of very little. For example Feb 2021-Mar 2021 13 to 25p ish. Dec 2019 to Jan 2020 18 to 29p ish. There are others. I took advantage of those. This one for me is different and the price is not far ahead of Jan 2020 despite ENQ being in a significantly better position. On this occasion, I'm not seeing the value in trading as I believe the SP rise is based upon very solid and 'irriversible' changes to ENQ's fortunes. I hold to that even if POO slips back. We've had a game changing few months. I've not sold a share, but I'd been better at what I do, or more disciplined etc I could have made a packet trading 37 to 31 to 36 and some bumps in the middle. I wasn't good enough, or I was too convinced of the back story or something. For me this remains a very strong conviction.

buy her a new bike Spin. You know it makes sense.

Epiphany (reply to yesterday 13:57) maybe a little bounce today although US markets still look to be overall favouring the bear case. In my view fridays are not the best days to accumulate, but I'll probably be buying (not ENQ) today for short term trades (close by end of business) in the hope that there will be a relief bounce. Still very comfortable to hold all of my ENQ shares and the longer term view I agree with the other poster who sees 200p in 2025. Could be earlier in my view. I'm assuming were able to (and I hope we did) pay down more than 130 million in debt for mths 3 and 4 of this year. We're now half way through month 5 and there's no obvious sign of POO coming down imminently. Press reports suggest Putin's health is deteriorating and associated video/images appear to support that. I guess you never know when this will all be finished, but it might not be the long slog that we imagine it has to be. Every mont that passes, ENQ becomes stronger and stronger. FTSE 250 is calling, debt is falling, judging from the research of some of you guys production is likely increasing or will do in the near future. All looks good to me, but as I've said before, sometimes when I've been confident, I've been wrong. If this were to drop back significantly, I'd increase my position significantly (depending up the reason; accounting errors give me the heebie gebbies and will normally stop me investing).

While not directly relelvant to oil stock, the DOWs latest leg down gives a good idea of wider market sentiment and for the moment it seems to confirm the bear case. Long term it doesn't change ENQ's turnaround story, and so far we're holding up reasonably well.

Dow drop below 31200 could presage a poor day for all tomorrow. Oil also dropping.

I apologise, not sure how I made that mistake, that was Arsenal!! Apologies again

Newcastle beat them 2 nil also, despite no team changes under the new Saudi Ownership (to come I imagine).

I now have 2 different stocks at 36.45. It's a sign! Just need KO to call a 'repairer spike' and 40p will seem like old hat

I can add to that, there's a lovely pennant forming (small triangle pattern) fom Apr 19th. The top of the pennant is currently around 36.7. Historical data suggests that the price usually leaves these patterns in the same direction it enters them i.e. it's a consolidation/ continuation pattern. Since the lower side of the pennant is steeper than the upper side, it appears that buyers are somewhat in control so it would support an upward move being more likely than a failure and movement to the downside. That along with the back story that seems compelling to me has me believing that we'll head up towards 40 and after that probably 43/44. I can. However, no-one can see into the future.

We seem to be favouring the upside still and pushing towards testing our previous high of around 37 from Apr 19th. There is a gap to close on the daily to 40 or just above that co-incides with a short-term tl from May 2015 (first touch), Jan 2017 (2nd touch) with the 3rd touch threatened recently and currently around 40. After that there is the major tl from Mar 2014 (first touch), June 2014 and hypothetical 3rd touch around 53/54. Looks intersesting at least with POO staying high.

Pelle, it's been argued here previously that any windfall tax shouldn't make a difference to us due to our tax credits?

Thanks for the replies. I shall keep watching for now. The wider stock markets are indeed looking weak.

Not new to FRES, I trade it relatively frequently, but surprised by the size of todays drop. I work more from TA than anything and realised that the SP had come back into an area worth watching. Just wondered whether I'd missed something company specific that might make further falls likely.

I've just read through the recent thread, tried to find a reason for the drop today and as far as I can see there is no FRES specific reason for it. Am I OK with that view or do we have more labour outages whether COVID related or not or something else. Quite some drop.

I thought I'd already posted, but RNS yesterday indicates RWC asset management have increased their holding by about 1.8 million shares. Looks like a vote of confidence.

Wahey, I've moved into profit. Averge entry still just over 23. To be honest, I could with a few pence on this one. Bit of a thin period.

I added some today so I'm back to 80% of my previous holding. Just based on the SP apparently perking up significantly. I had thought the SP would dip closer to 21 or even below, but somethings lit a 'fire' under it this afternoon.

There's a gap down to just over 21p on the 2 hour chart (possibly also visible on the daily). As we're in down trend on the daily there's a pretty good chance that will fill. When gaps fill, price very frequently continues beyond the gap fill so, in my view, going to 21 or below is quite likely. What we really don't want to see is a close on the daily below 20.

Seeking alpha is a great source of information and intelligent discussion/views

At the moment the US markets look to be quite threatened by recent interest rises and the war. I guess it's having an effect on us as large players move more to cash. Still doesn't seem that logical though as, these oil prices have provided ENQ with incredible opportunity to turn around and develop.