Firering Strategic Minerals: From explorer to producer. Watch the video here.
A couple of Q's from me:
- What is the current net cash position? (estimate)
- What is the current day-to-day charges?
Along with the management salaries, I suspect that a number of advisory firms are continuing to charge AEX on a monthly basis for services that are seemingly providing no value or outcome.
The SP will continue to fall until we get word that the company is able to generate revenue. I have had to turn this one on mute and look only every month or so. Absolutely killing my portfolio!
I would normally say good luck but we require much more than that currently.
Aiming for EBITDA between 1-2X... that should send a message across the market as we've always been portrayed as debt ridden and potentially on the verge of collapse.
Looking forward to seeing how the market reacts to this.
GLA
Hitman1a - I agree that with Kraken production down we do need a higher POO to compensate. However what are you referring to when you mean reliant? Are you referring on ability to pay debt? Reaching a SP of X by end of year say? Or just figuratively speaking.
Happy to hold this long term. If I had the available funds then I would be topping up.
GLA
Small trader
I would also like to see something on DC4 and also a more thorough response to the comments made in the Cairn RNS regarding the Kraken reserves.
And also no mention of any acquisitions or rights issues.. I'm all for ENQ growing its portfolio and I do think that in the next few years opportunities similar to Magnus will present themselves. However they need a 12-month period of consolidation and ensuring Kraken is stable so that the market can gain confidence in ENQ once again.
So am I right in saying that Moody's have ENQ down as a marginally safer bet than previous (with 3x EBITDA at year-end) and still we're languishing far lower than where they were in November 2018, around 25p.
The mind wonders!
I agree Kraken - the question is how tough of a stance is AB willing to take and what kind of leverage does he have.
Only time (and RNSs will tell). Can we pose these types of questions to IR? Or even to AB if we ever get an investor meeting?
It wouldn't surprise me if additional cooperation did take place. From Saudi's latest budget figures it was said that they need POO at around $80 to break-even.
Some may argue that by keeping it lower a little longer then they could kill off a few more shale companies but ultimately the Saudi government will be doing everything in its power to get it near that $80 mark.
Let's keep those fingers crossed all.
As an aside, when are we expecting next batch of data from ENQ headquarters?
I agree E121. And so based on the latest update ENQ are hedging around 50% of production in Q1 2019. I would certainly like to see more in the pipeline for later in the year.
Do we know how much ENQ's peers are hedging?
I agree. Do we have a (rough) idea of what the current price of hedging is? For example, hedging at $80 would cost around $5 per barrel.
Obviously this would not currently be possible given the POO at present but am trying to get a feel of what the cost is.
Given that we now have estimated production figures for 2019 what does that mean for FCF for 2019?
Pelle / Fernan - I understand you share a spreadsheet last month or so showing your figures for 2018. Would you be able to share again (apologies I could not find) and we can update putting in the 2019 estimates and also experiment with different POO for 2019.
The priority for 2019 should be continued debt reduction and so it would be nice to get a feel of what FCF could look like in 2019.
GLA
Debt reduction and forward planning hedging the 2 key things I was looking for. Seemed to satisfy both (in some way) and so am happy. Regardless of what day this was released this should improve over time.
Would have like a little more production hedged, particularly in the $70s as they is where I feel POO will be in 2019 anyway and would have at least provided a buffer.
Certainly beats other RNS's that we've had to endure over the last 2-3 years.
GLA
John2015 - I would have to agree. I guess the question we have to be asking is what can we (as shareholders) do? It's not possible to say they cannot be paid anything, however is it possible to vote on a removal of their positions? Again a little drastic but at least sends a message to them looking down from their ivory towers