Member Info for Tommo1985

As grumpy as we all are regarding the current share price, I remember thinking this was a great investment when it had debt of $1.2bn+. This is now down to $600m despite it being robbed by the fake tories who rinsed us.

I view this as being on a PE of 3, to pay the debt off and cover the current equity. Anything after that is profit we just have to be patient despite having had our pockets picked by the asshats in government.

There was quite a bit of cash (US$6.7 million at 30 June), and also nearly £5m from in the money warrants due by 31 December. I see no reason at all there would be any more dilution here.

Https://www.telegraph.co.uk/business/2023/09/27/pound-falling-euro-dollar-inflation-interest-rates-sunak/

“Sterling has dropped to $1.215, a level not seen since March and a sharp drop from its peak above $1.31 in July.

The currency has fallen more than 3pc against the dollar so far this month and is now on track for its worst month since the aftermath of the mini-Budget last year.“

Of course, crude is sold in $ and our costs are in £.

A nice little accumulator to juice earnings with strong crude prices.

Might be better to buy them out of administration if they are heading there. Hedges will vanish as will their debt. On the flip side, their assets may cost more. Harbour is probably a better buyer as they need tax losses if they can be used.

We are signatories to the Energy Charter Treaty, so they can't up it beyond 78% without (probably) triggering compensation. 78% is the highest current tax in the world...

Another day of Oil up, Enquest down.

Board have aimed at their feet and fired again.

Enquest half year presentation on in 14 mins.

https://presentations.investormeetcompany.com/conferences/93f9bd919408/bigroom

Https://oilprice.com/Energy/Energy-General/New-Report-Reveals-Costly-Shift-In-Green-Energy-Landscape.html

“The climate lobby says power from wind and solar is cheaper than from fossil fuels, but that’s true only with generous subsidies and near-zero interest rates. Price adjustments that renewable developers want in New York would make solar and wind two- to five-times more expensive than natural gas power.”

Would be good to view the full report and get it to Milliband!

Well French Connection it, I’ve bought some more. Now upto 88,000 which I appreciate is not as many as some but no doubt rather more than many.

At $90+ a barrel this is making money. Even with endless government thievery. Those tax credits are a useful shield and Malaysia helps to diversify and could provide an escape route from the clowns presiding over Uk waters.

My general feeling: the more the governments thieve from oil companies the higher the price of oil will have to go. Eventually the electorates might twig that they are being immiserated by their politicians.

I made a spivvy few hundred quid on Jadestone and now bought more here with the sale proceeds plus my monthly investment allowance.

Oil already at $86, oil demand looking strong, chinese stimulus kicking in and US shale production falling over.

Worth a listen to Luke Gromen on Wealthion. The oil draws are looking very positive at present. Which should result in us making some more wedges of cash.

This share is on one of my watchlists and just noticed it's dropped from 120p which I thought was overvalued to 55p. Is there a reason for this huge decline? Anyone able to summarise without me going through every report/rns please?

Seems an odd RNS to sneak out at no one is watching o’clock on the Friday before a bank holiday. Looks reasonable news. I’m also scratching my head by what it means. Certainly would give room to repay things early or make acquisition headroom?

Remind me. How many 9p warrents are still to be exercised and paid for? Iirc they have to be exercised by year end else the holders lose a 30% profit. Should generate some nice cash for RKH without issuing another placing.

And if you ever do pick a winner - Like Enquest - the government will rob those companies for daring to make a profit.

Any chance you can paste the text? I don’t have a subscription like most people here I’d guess…

I can’t see this needing to do another raise. Not least because the time to exercise the warrants from the last placement is running out. So they will have cash landing from those warrants which should remove the need for any raise, even if they need the cash which I don’t think they will.

Just done my last top up. Need to see some progress from the company tbf.

For those without Bloomberg subscription: https://archive.ph/zWWZ1

The US saw the biggest inventory draw in circa 40 years this week:

https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Balloon-On-Largest-Single-Week-Crude-Inventory-Crash-In-Years.html

Meanwhile demand has now reached another all time high:

https://www.bloomberg.com/opinion/articles/2023-07-27/the-harsh-truth-is-we-ve-never-consumed-this-much-oil

Even with the EPL nonsense things are looking increasingly good for Enquest. In fact the biggest issue is we could be seeing some more windfall profits very soon.

If you enjoy watching a Labour shadow minister having a rough time defending their net zero policies watch here: https://twitter.com/talktv/status/1686301559997583360?s=46&t=sBGeqaqNVyS0exMBsE2tkg