The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Why should u feel sorry for others?
You should be happy that so is down isn’t it?
Don’t worry kraken oil and believers of enquest will have the last laugh
U can continue with your negativities
That’s a given with shorties
We all live with our beliefs
Looking at 12 to 14 days every load
Not ideal but much better than last qtr
For better or worse for kraken
If i were u just with all your negativity sell whatever u have
Then move on
Nothing against u
Your views well respected
As for me i ride with AB
Rightly or wrongly
Mo
That’s north of 40kbopd
July n aug had been poor
Sept been tip top
If maintenance deferred till next year then we get close to 30k net for the last qtr.
That will at least largely compensate for the lower poo
If Magnus gets back to 16k level be looking at 75k+ last quarter
Let’s keep the tanker watch
Pelle
If u use last 2 Magnus wells costing of 27.3m that’s well within affordability
All in 4 wells and u may see eagle discovery Ythan and don NE development brought forward
150m would to me be a comfortable figure
Debt reduction be the focus and value will return
Of course poo price will be the determinant
Granted that kraken gets back to 45k bop, just like in may and June before the latest breakdown, gross production should be 80k or thereabouts exiting 2019
There is sharing with BP for Magnus and share by malaysian government for Seligi and back of envelope calculation suggests net bop of close to 70k for 2020
There is natural decline to contend with but 2 wells each for Magnus and Seligi as well as better production for scolty as well as more stable kraken fpso should make up for it
With an expected lower cape and financial expense in 2020 look forward to acceleration in loan paydown if poo stays at this level
Dividends and share buybacks are stories for another day in my view.
At market cap of 500m for a 245m 2p oillie and net 70k daily production market is suggesting dooms
Risk may be high but the potential rewards are just too enticing
I am staying the course
Pelle is on dot on debt reduction
Too optimistic on my part
Kind of deflating with debt still at > 1.7b
Like the hedging though at floor price of 66
That takes away part of po volatility risk
Can only hope kraken performs consistently > 40k until the next maintenance
Back to tanker watching
Next load end of may?