Member Info for Stupmy

As I've stated mrc, I can't see the issue either. My basic thesis here is that over time the SP is likely to yield a good return. I've covered that by accumulating a good number of shares. It's interesting to try to exploit TA/Charts in a second account to exploit SP swings as it is theoretically just a way of objectively jumping on SP movements that are dictated by more significant players. When it works, accumulating profit from trades can cushion SP movements based on out of hours news that hit my non leveraged positions.

Osaka, I'd also add that there remains a reasonable probability that the SP will continue to fall. No-one can see into the future and no-one can have perfect and complete information. For that reason, we have to make decisions based on what we see and understand in the moment. My purchases today have been moderate as I am far from sure that the recent falls are over and I don't understand what has caused them.

You've misunderstood. That advantage I've achieved of a bit less than 2p is due to selling and buying some back at a price lower than the sell price. I haven't said the price will reach 17 or 16. At various times, under various circumstances those levels become more or less likely. I hold shares which I've been accumulating, but I also trade on leveraged positions which I try to make ongoing profits on. I have to respond to whatever the SP action/TA/Charts seem to be saying. I'm very happy to buy and sell over a period of hours or days on my levaraged account.
I don't think there is a need for you to be abusive. I'm happy to simpy discuss.

A little bit of buying going on at the moment, you could argue that having the 2h RSI closing above 20 forms a hidden bullish divergence on the 2h chart. These quite reliably lead to a rise in price. I'd prefer to see the 1433 stoch having also closed above 20 on the 2h chart and this is not the case for the moment. So, it's a little bit mixed, but I've but I've started to buy some of what I sold back. The advantage I've gained so far is just less than 2p.

That's all to do with time isn't it Kranken. Over time fundamentalists who are right about their research and premises should make money. In the short term, we don't necessarily understand what's driving price movements. A lot of stocks are down inside and outside the oil industry. Interestingly HTG reported today and they've dropped 12% so far despite reporting improving market conditions for the oil industry.

You have to take a view and act on it Angelis and what you say is correct. For the moment price has not retraced to 16, but there is a gap on the daily at that level. With the CEO and his affiliates holding so many shares at I believe around 18p), you'd imagine that it's not in their interests to have the SP drop below that levels. Plus POO is remaining nicely high (all year so far). I don't know why the SP is falling a little at the moment and can't see why it would go to 16 , but as long as it's going down 17.25 are or even 16 become increasingly probable. I think 18.5 looks like it could act as good support, but if it doesn't then we're into the realms of rising TL's and whether they might act as support. Figures on that will change every day, but I see 18.5 (tecnical support daily), around 18 to 18.2 (short term tl support and 90eMA which the SP has tended to respect; daily), then 17.3 (again a rising tl support; daily which coincides with gap closure; 2h). These are just areas at which I could imagine more interest from buyers in the absence of news. If they don't hold, I still view 16p as likely. Also Angelis, no-one can see into the future, so anything I'm saying could very well turn out to be tot. But one has to try to find a rational approach to decisison making rather than just buy and sell randomly.

20 or a little below now looks quite probable to me. I see clear support around 18.5, but can't help wondering if the SP is actually looking for 17.25 or below. I have no explanation for what might cause such a drop with POO remaining high all year so far, but I sold 70% of my leveraged trades above 22 and am not looking to add them back for the moment.

Doesn't AB's very substantial shareholding underline the SP at around 18p? I try to understand the significance of the board/CEO holding so many shares and one thing that makes sense to me is that it reduces the probability of a diluation? Am I being daft?

Thankyou mrc, I was worried about near term comitments to bring Bently on line.

Why is no-one interested in the conditions associated with the Bentley licence? Am I totally wrong to think that our comitments on Bentley are significant (despite the great purchase price; less than Flossoffa's shareholding when he lost the lot).

Price drop today has closed 2 gaps on the 2 hour chart. Worth noting that there is another to around 16p. Gaps often close and often don't act as support/resistance so SP looks fairly likely to hit 16 and to go below it. Lot's to learn tomorrow I guess regarding financing options and what Bentley means to us over the next couple of years.
Hitman, thanks for the reply regarding AB's large holding.

I have another question. What are the risks of having a CEO who is the major shareholder in the company? From memory I'd assume his average price is around 18p. On the one hand it seems to suggest lot's of confidence in the future of the company. But are there any other ways of interpreting that?

Does anyone else worry that there is a risk of dilution here. With 2 aquisitions. We have GE apparently to be bought through increasing our debt by 300 million or so plus a 50 million pound placing with related parties. After that we have Bentley for a very good price, but presumably that licence comes with work comittments? Does anyone know what these comitments are and what kind of cost ENQ will incur completing them (750 milllion?)? As long as POO stays high, then free cashflow means that these acquisions are great and will contribute materially to the business in the medium term. But as an investor I feel a bit confused about where the SP might go in the short term. A substantial fundraise would appear to cement the future of ENQ for the medium term and would seem likely to lead to opportunities for those with cash. But for those invested, it might lead to losses. Anyone have any views on whether I'm right to be worried?

It does look cheap, I wonder what our work commitments on the licence are. I believe the previous holder were looking at a cost of 750 million to first production in 2023.

We're buying Bentley. That didn't do ENQ any favours, but our management seem to know their apples. Anyone care to comment on the terms of the acquisition? Is this the real reason for the drop in SP?

Thankyou Tarmak.
When you say 'contents' do you mean details? The details of the GE acquisition will be presented on the 12/5 or is this something that will be discussed and decided upon at that meeting. I'm guessing the 2nd scenario as you state a decision will be taken at least 2 weeks after the AGM.
I must admit that I had thought that the 10,000 barrels a day was contributing immediately (from which I believed it was from the announcement in the results RNS; that's clearly incorrect if decisions still need to be made about how to fund this acquisition). I have to say I'm starting to feel confused.

Well there's something I've not understood about posting links, but my question is the same. Has the funding and placing regarding the GE acquisition been resolved, or is it weighing on the SP here. Over on the other board, two posters Bomfin and Chutes have suggested that resolution of this is not complete.

Not sure why that link wasn't allowed.

here it is without the https
www.enquest.com/media/press-releases/article/enquest-signs-agreement-to-acquire-equity-interest-in-the-golden-eagle-development

I've come across from ADVFN Enq board. That bb seems largely dead but there's more life here. Could someone tell me if the following funding and placing (for the GE acquisition) has been resolved or whether it's weighing on the price?
https://www.enquest.com/media/press-releases/article/enquest-signs-agreement-to-acquire-equity-interest-in-the-golden-eagle-development