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Soder, re ENQ you are looking at the trees when you need to look at the wood.

2020 Bond interest = $73.5 million
2021 Bond interest = $69.1 million
2022 Bond interest = $65-$70 million
2023 Bond interest = $48million ( and that assumes a 12.5% coupon for the new issue)
NB the new bond is for $300m which is less than the 1H 2022 free cash flow.

I'm hoping it will build over the next few days...

Soder, you are entitled to your opinion and views however you should at least post accurate info. It was with this in mind that I sought to allow you to update yourself. I will stop now.

PS the coupon is 9% not the 12 -13% you state, that's just one of your misconceptions and I can't be bothered correcting any more.

Soder, you are entitled to your opinion and views however you should at least post accurate info. It was with this in mind that I sought to allow you to update yourself. I will stop now.

PS the coupon is 9% not the 12 -13% you state, that's just one of your misconceptions and I can't be bothered correcting any more.

Soder, you may want to update your views on Enquest. My understanding is the both S&P and Moodys already are.
Here is a link that may assist..
https://www.enquest.com/fileadmin/content/press_release_pdfs/2022/2022.10_EnQuest_Credit_Update_-_vFinal.pdf

L3, it's speculation on my part but I suspect the reason for lowering the RBL is related to more favourable T&Cs wtr hedging and perhaps even dividends.

A merger perhaps...

Yes the bazzar or even bizarre mentality always seems to apply. I'm hoping it ' handbags ' and the deal will conclude ASAP. US, Europe, Israel and Lebannon all want this done ASAP so it should happen.

After the positive drilling results it looks like the mediation has hit a snag, let's hope it is a small temporary hiccup.
https://www.aljazeera.com/news/2022/10/6/israel-to-reject-lebanons-proposed-changes-to-gas-deal-official

https://www.energyvoice.com/oilandgas/north-sea/449323/lack-of-measures-to-prevent-a-major-accident-uncovered-on-kraken-fpso/

Nice summary L3.

https://today.lorientlejour.com/article/1313292/aoun-receives-written-resolution-proposal-from-us-envoy.html

Your correct Jan, what I should have said is that the US is a net exporter of oil (has been for 2 or 3 years). It does import,as you say, but the vast majority of this (70%-80%) is from Canada with Mexico the second highest exporter to the US accounting for 10% of imports.

My point is that the dependence on Arab oil imports, which is what the SPR was set up for is trivial and we should not assume that the US is likely to be rushed or panicked into restocking the SPR after the elections.

As I said earlier I think they will restock, at least to some degree, but I think they can afford to be leisurely about it.

KO, he (Biden) may not even need to refill it.

The SPR was put in place during the '70s when America was dependent on Arab oil and the Arabs imposed an embargo. Today the U.S. is self sufficient in oil so there is an argument to say that the SPR is surplus to requirements. I happen to think the will top it up again (as it's a useful tool against high oil prices in election years) but I don't think there will be any mad rush to so after November

https://www.middleeastmonitor.com/20220914-lebanon-cites-major-progress-in-demarcation-talks-with-israel/

Nice little piece in the Times today with something for everyone including Chilts.
https://www.thetimes.co.uk/article/enquest-offers-something-to-capture-the-imagination-rgh2gw0rr

We need to keep things in perspective..

When ENQ announce the Golden Eagle deal on 4/02/21 the Brent price was around $53/bl. The operating and capital costs of production were $25/bl. The deal included a clause to ensure that if oil went up to 55$/bl, ENQ would pay an additional $25M to Suncor, if Brent went to $65/bl then ENQ would pay an additional $50M.

Today oil has slumped to £94/bl.

NE

Good job as usual Kamrat.

I particularly agree with 'I foresee it being resolved once they have done their job (having simple terms on a new RBL)'.
....M&A activity aside which of course we cannot legislate/plan for.

Cheers

September for deal...not August as previously stated.