Member Info for Tigar

Hi Therapist
I wonder if there is something in the fact is was post dated to 30th June, will that mean it is new investment under WT but if dated 1st June it would not have been?

Mind boggling that is for sure, we just need to remember what we know, net debt in Feb was stated at $1022m we also know $1083m of Bond debt has increased by the retail bond new issue of $70m so we have repaid all the RBL or have a huge cash pile the HYN are $827m and we have until summer 23 to repay cash to do that is almost a cert. Why not repay some of them early and not bother to refinance them. Or use RBL to repay all this summer?

From the graph we are just about right Disinterested a good description of traders at the moment, I have doubled my small stake but am looking to double that should they retreat further this is one for a year or two's time but will be hard to time for cheapest entry point could be now. But not for widows and orphans as they say.
http://www.24hgold.com/english/news-gold-silver-the-second-best-time-to-buy-mining-stocks.aspx?article=994240570G10020&contributor=Investing+in+Mining+Stocks

On top of supply shortage, I read they have woken up to fact it is madness to grow bio fuel to drive while the world starves, we could be back to good old petrol instead of E10
all that investment wasted, it was only grant money from taxpayers so no problem!

Ukb
Or until the RBL is repaid, the extra RB $70m that was raised should have made the RBL repaid by June stress test in my view so expect hedging to become a voluntary thing.

Ammu123
65% reduction in profits..?
Please get facts right a potential 25% could be conceived as fact but an offset of that Tax by investment will lead to increased production to offset our tax losses against.

I reckon the net debt will have fallen by about $10m from the increase in the $ in H1 RB being in £'s am looking forward to H1 accounts.

Hi epiphany121
In end of May update there was no net debt update, last one I can find was 24th March were it was stated as $1090 net at end of Feb so for some reason that being the stated aim for Enquest to reduce, they did not put it in the May update.
One reason why I was convinced we would get an update today how can they answer questions at AGM when the main one is what is the net debt situation! unless we get one just before the meeting.

Ps it was a buy!

ENQ is being traded by the A trades hardly any O trades well one from me 20066 at 26.94p

Bressay & Bentley were thought to be connected and may well be? much data is known about them and development of one could well lead to both, and the difference in stakes will need to be negotiated, a joint project would make sense. Bressay gas cap first timing is right.

We bought GE 19mb of 2P at $17 a barrel it has been paid for and we have 15mb of 2P left that is selling at $90 profit per barrel so have over $1bn of profit to come, debt free from GE alone.

On a Bressay project we got a 40% stake for $17.5m and if we have a development plan to tie back to AK or to use EP for say $500m our share $200m we are going to have to pay that much in Tax at the 25% anyway so it is an opportunity to put a $17.5m investment into production. Take it.

It surly makes sense to invest in UK even more if you have $3bn in Tax credits, those credits being on the 40% standard Tax if you can claim back most of that investment against the new 25% Tax you can still use up the $3bn quicker after that.

What we know, 31st Dec RBL outstanding stood at $415m by end of Feb Debt had dropped by $132m so RBL $283m then we raised $70m from RB so RBL $213m production has been steady and prices better than Jan-Feb so we had $132m with those prices so by my reckoning RBL should be clear about now. Bonds next?
AGM is looking like a turning point, plans on the table?

Barclay's $450m Tax is not the contentious part of the broker's note it is that Enquest now have problems with re finance. They have not given note to the obvious fact that $450m means we will be awash with the other 75% of FCF! and should we mitigate that Tax with investment we will be increasing production and have more revenue. In fact $450m Tax over 3-4 years seemed on low side.
We now have $450m to invest without any borrowing is one conclusion of Barclay's note.

https://www.msn.com/en-gb/money/other/sunaks-tax-breaks-could-lead-to-more-than-%c2%a38bn-of-north-sea-energy-projects/ar-AAY8ZN7?ocid=msedgntp

Hedgers will make more profit from Enquest oil than the Tax man will, the treasury targeted the wrong company!

https://www.msn.com/en-gb/money/other/barclays-raises-brent-forecasts-on-russia-oil-sanctions/ar-AAY7GTR?ocid=winp1taskbar&cvid=978886a506d44eed8a93a15c9a2ff6be

Barclays on Monday raised its Brent crude price forecasts by $11 per barrel for 2022 and $23 for 2023, citing a larger and sustained disruption in Russian supply following sanctions by the European Union.