Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
A couple of relatives are interested in O&G exposure but they are somewhat risk averse.
Their pensions are quite heavily weighted to bonds and gilts etc. They bond hold a lot of premium bonds.
I've mentioned ENQ to them before and I think the new bond (and existing) would interest them.
I have zero clue on how to buy/sell these bonds.
Can you do it via your platform of choice?
Any provide a short idiots guide?
Thanks in advance.
Ooops, CAPEX likely to be higher if we’re developing, I meant to say much lower OPEX/boe
Romaron, that’s a nice outlook!
We could be back at the market cap of early 2014, before the Alma Galia disaster, before the shale shambles and the Covid catastrophe.
But, with a much lower CAPEX, two great development assets and a stronger financial outlook.
Any idea what rubbish Hosie has come out with now?
"The recent safety system discoveries on board the Bumi Armada owned and operated Kraken FPSO will likely result in a material downgrade to EnQuest's Magnus and Scolty/Crathes field reserves, free cash flow and ability to continue to pay down debt and ultimately refinance the bonds. Reiterate underweight".
Probably something like that?
But did you guys not see;
Keir said that within a year of a Labour government he’d have set up a national energy company to give UK self sufficiency and end reliance on foreign energy sources.
I’d love to know the detail behind this proposal…obviously there is no detail behind this sound bite, but I imagine many people would fall for it.
It really boils my **** when politicians aren’t harangued by interviewers about the depth and detail of energy proposals. They just seem to take it as gospel and are more interested in chasing gotchas about some unrelated and ultimately unimportant subject.
100% Romaron.
I cannot believe this charade has been allowed to continue for so long.
The £billions wasted on this could have been spent on developing CCS and exhaust scrubbers to make it actually zero carbon as opposed to some net zero guff.
Could have left all coal powered stations open, belting out cheaper power and either removed the nasties from the exhausts or captured it all and packed it away underground.
F sake.
Hopefully common sense prevails....!! ha
Barclays increases target from 26p to 28p, retains underweight rating.
What a plug Hosie is. How to admit you're wrong, without admitting you're wrong....
It was an exciting time - remember all the "where's the Scott Spirit" memes on the iii XEL board.
Then it all went to rat **** and there were the usual calls for Cole's head on a stick.
To think they raise north of $500m, equity and debt? I suspect a lot of people lost a lot of money.
Maybe something can finally come of it? Would be a great reward to the perennial pain of being an ENQ investor - knowing that your holding is worth far, far more than the market values it at.
Auson,
I wonder if the Truss government funds the increase in utility bills a short term stop gap (in conjunction with other short, medium and long term solutions) then the public will be more amiable to the scraping of the EPL on condition that we crack on with more O&G developments and perhaps some rules on how it is sold (i.e. to the UK the products allow) and then everyone's happy and we can have a 60p party?
Jeff,
A guy I used to work with sold all his UK belongings and moved to rural Portugal in 201-something. He was formerly a Subsea Projects guy.
I think he said they bought 50+ acres and an old farmhouse for less than €50,000. Fertile soil, own well but zero utilities.
He was pretty handy so planned to install solar, battery back up, wind, reed bed waste, aquifer pumping system, satellite broadband and powered irrigation.
Sounded pretty cool, fancy that?
https://www.reuters.com/business/energy/us-crude-spr-hits-lowest-level-since-january-1985-2022-08-22/
Including a drawdown of 8.1m barrels last week. So over 1% of world supply has been “artificially” provided. Wonder when this supply gets wound down?
You've also got to wonder what effect the "inflation reduction act" will have on investment in O&G and the subsequent lack of new supply coming on stream in the next 5-10 years.
You've got a decade of massive US subsidies on "renewable" energy coming up, so will investors be even more likely to shun O&G leading to even greater supply shortfall in the short to medium term?
If so, ENQ will be a good place to park our capital.
Would love to see dividends.
Surely even a 5p annual dividend would propel this to 60p+?
So has the volume of posting.
It’s nice not to have the Trolls clogging the board up, but I am missing the well informed musings of everyone.
Maybe the heat has everyone a bit sluggish?
All around the windfall tax apparently - https://www.lse.co.uk/news/barclays-downgrades-enquest-to-underweight-due-to-government-levy-1zb91vizknqkv7g.html
Be interesting to see if CAPEX plans or a partial rollback of the windfall tax extent changes the view of Hosie?
Maybe Amjad beat him at a game of poker once and he’s never forgiven him?
Chilts, how many ENQ shares do you currently hold?
Curious as to your actual interest in ENQ as a company.
Seems like it would go against your principles?
I think Kraken emitted most of the UKCS NOx at one point.
There’s a “Climate Change Camp” in Aberdeen just now. I assume he’ll be there with the great unwashed/trust fund gang protesting against living standards.
“Just stop oil” um ok…
Don’t worry, 2030 will be along soon enough and we can all say “ha ha ha 100% of electricity is NOT produced by renewables only…”
5p!!!
That would be the mother of all Repairer spikes…
What exactly do you mean?
If EnQuest produce 50,000 barrels a day, they use 32,500 of those barrels in the production?
If 100 million barrels are produced a day globally, 65 million are used in the production?
Genuine question??
At one point kraken was burning crude to power the FPSO, but I cannot imagine it was 65%. That makes an asset somewhat inefficient.