Member Info for Therapist

Hi all,

On Enquest website investors factsheet Net 2P is in at 213MMboe on 31/12/19.

GLAXXX

Jan,

I hold the National boepd certificate for overboard oil for fish so have the licence to spill.

I lived in and my parents owned and ran a 16 bed Scottish hotel in the lower highlands close to the oldest distillery in Scotland. Maybe we were neighbours?

I have drunk a lot of Whisky. Mostly with shepherds and quantity rather than quality.

GLAXXX

Pills, get the pills, take the pills . . . change the subject . . .next load. . . so many options, like the whole fleet is begging for it. Down at EP just a static icon with support ship flies feasting on fpso doggydoo. If it doesn't move tomorrow I reckon they scuttled it.

GLAXXX

Jan,

One Code sounds exciting. Knit one pearl one "say no more".

With a serious but subjective head on I think EP is about to depart for Nigg, smaller vessels buzzing around like trolls outside a goat factory. That might be RNS worthy. What a joy to celebrate £150k a month ongoing expenditure until a solution declared. In fairness weigh that against cost in situ and it is probably favourable. I have listened to the update Q and A session with regard EP a few times and I think they know full well what is happening to the vessel just not able to say at present.

I've offered £74.99 and would fit it with a remote control and stick it in my nearest model boating pond. A reminder of those heady days at Alma/Galia.

Unaccepted as yet.

GLAXXX

All,

I have been deciding that while the chicken is in the siding, unless I need to be serious, which isn't many sunrises, that I will be posting in style and as a homage to avanza enquest forum google translations as a penace for my own bad financial decisions and until the enquest share price is over 13p or however many sek that is at the time. This will be lost to you if don't go there, but you should.

Like the forest in the moonshine this isn't derogatory to our Swedish friends, it is a a deep spade pushing hard at the thistles.

I think we are at the bottonm of the channel. If we can force the roof into the canal then there will be many buy signals. Hoping to solve my mistakes, the only missing link is the thread in the dough. If it is good, one thumb may be enough, but otherwise it is better to criticize than to skip the thumb. The bandits may push the course but we are now tickling the older fields that sing in the last verse.

All good then, don't know what the fuss is about.

Hope I haven't **** in the blue cupboard.

GLAAAAX

There's buckets more where this came from . . .

Jan,

Mark Wilson still has the faith:

"Jefferies backs EnQuest despite first half loss

North Sea oil explorer EnQuest (ENQ) has delivered another headline loss but Jefferies is still standing by its ‘buy’ recommendation.

Analyst Mark Wilson retained his recommendation and target price of 17p on the stock, which tumbled 10%, or 1.3p, to 11.8p.

‘Another large headline net loss due to charges takes the shine off results that operationally were very strong, beating our estimates on revenue, earnings, production, and most importantly debt reduction,’ he said.

As production is towards the top end of expectations in its largest assets, the Kraken oil field in the North Sea, breakeven costs are now in the ‘low $30 a barrel range’, this means Wilson has ‘renewed confidence in our recent update to ‘buy’’."

GLAXXX

L7,

I work for an SME and I think I crave information from Enquest like an employee of such might rather than a ten pence (ironic) shreholder of a large company. I rarely go knocking at door of IR but am surprised at distinct lack of investor comms even in a crisis like period.

A licencing bid costs something and has a strateggy behind it but no explanation at investor level. Tight lipped fear of failure rather than explanation of exploratory (E&P company) philosophy. Just adds to the frustration.

Good to do own research and you as ever come up tops.

Appreciated by all.

It will rise tomorrow . . . or slowly subside up its own arse.

GLAXXX

Agreed!!

All,

Semi Rant alert.

I feel the need to give the thoughts of a layman.

I was full of eternal hope and feel I have been battered with a ****ty stick. The bruises will heal and it might all get better.

I read the report by 0730 this morning, I watched the price dip from 0800, I listened to the Enquest Elevator Music Quartet (Sheila from accounts joined with her harp after I posted) from 0845-0900, and then got stuck into the presentation.

I know they have to be guarded with what they say so expecting a rehash of interim report with little extra detail and that is what we got. It might be the accent but I could listen to and believe Bob Davenport all day. AB and JS sound cagey and calculating. Less transparent.

Q and A which I was anticipating as the challenging bit was pitiful. Lack of questions, loss of opertor, AB unable initially to access webcast questions. Silences. JS having to improv MoC. Not well planned and not impressive.

75+ posts today, so what he said to the meat and bones, and regulars will know I don't do the balance sheet jiggy jiggy, but tug me sideways with an anchor handler I didn't see this going down like it did. I'll go with L7 hit and miss response as a fantastic analysis. I need to get my head around hedging a bit tighter (does announcement today replace and update previous statement or add to it?). Production, I can rejig to planned outages (yes that is an accepted word) but seems better than I had predicted so upper level sounds good.

OGA 32nd Round Winners on forum from Oiler87 as presentation started was interesting. Had a gander and one near Magnus old elixir plot and others harder to define. What does that mean and why is it not worthy of a mention? Surely they knew.

It's an education but it's not being a profitable one as yet.

Lovely forum though so wtf.

GLAXXX

All,

Davenport on steel guitar, Swinney on bongos, Amjad will kick in on vocals soon.

GLAXXX

Hej Pelle,

AB alive is a fair ask.

UK would pronounce "Hej" as "hedge" which is ironic.

Not sure we will hear the "utdelning w" tomorrow.

All clear here now. Calm and peaceful waters.

And earlier felicitations extend to avanza enq forum who read here also. Virtual distanced pre interim group elbow hug.

Bed now.

GLAXXX

All,

As a precursor to tomorrow I have had an emergency drains unit outside my city centre house jetting (drilling if you will ) for the past hour. The entire house was vibrating at times. I have quizzed all on board and none currently claiming responsibility although I'm sure ther will be a full HSE investigation. There goes our LTI performance. Must be what it feels like when the North Sea stops playing ball and throws some geology shaped sewage at you. No internal blow outs so I think we will hit break even on decex budgetting this financial year.

Thought I would share to calm the nerves.

I really hope it goes well for everyone tomorrow.

GLAXXX as ever . . ..

L7

"I'm sure I've missed something but it isn't coming to me."

What's happening to EP/NP?
Any detail on Bressay?

GLAXXX

Hi,

Is "Maintenance complete" actually "drilling complete" for Kraken?

In terms of production I have outage in my predictions based on company hints and history but you can never predict accurately or compare cross month on oga data.

I am currently interested in hedging. I have just spreadsheeted (??) last update data and I think we are 100% non NS Kraken Q1 production hedged and settled at $57.61 and associated cost.

Q2 is more diffucult with company info to April and then the $33 floor but that is minimum 2mmbl at $41.20

I think promised cost savings to drive down opex per barrel will take time and fulfill later in the year which may be alluded to in update.

A lot of peeps diss the Enquest hedging but the above doesn't seem so bad??

Always happy to be told I've f***ked it up completely.

GLAXX

All,

To relieve the tedium.

59882 bopd net to Enquest for June (normal Malaysia Estimate), which is 10% down on last month. Magnus about 4000 down, disappointing again. A good month for Kraken might be over 40k bopd gross and it was just below that. Seems like Don SW has lost the will to live.

Reported data to add to the mix Thursday.

GLAXXX

All,

Apart from the bangingly distanced bank holiday festivities that all are hopefully enjoying; there is a new flare stack at Sullom Voe (https://twitter.com/OceanKinetics/status/1299287165067722752), Bumi Armada Berhad praising the Kraken ( https://www.bumiarmada.com/251_250_250_391/Web/WebEvent/Investor-Presentations/Q2-2020-Analyst-Briefing.html ) p8, OGA figures due, Peary Spirit incoming, EP imminent move and future, NP future and hints of all that in interim report and oil price bouncing up and down like the clandestine partnerof a lockdown billionaire . . . going to be a fun week.

GLAXXX

Spider racing? There's a sport.

Just passing the time . . . .

All,

Vos Patriot is making a supply run to ENKWESTPRODUSER. Bought by the Dutch and renamed already or the captain's not too hot at spelling.

GLAXXX

Where will she go after Nigg warm stack and deep clean of course . . . .respect for the old girl . . . full of life we hope . . . . .

Hi,

ALP Defender and GH Endurance booked for EP Tow. Maybe not the ships marketing would have wanted for the demise of A/G. One at Aberdeen one at Montrose. 14 days booked. Update bound to come next week.without doubt. Where will she go??

GLAXXX