Enquest Share Discussion Threads

[stupmy] 14/3/2019 11:48

I don't want to see it that way hsfinch, but I think you have to. POO is strong and other companies are showing signs of share price movement north. Here share price is currently looking more likely to head down. My personal view is that any additional bad news on the 21st will see the share price hit 12.4. Sellers have outweighed buyers for a while now and there doesn't appear to be very much demand currently. Maybe nothing can really happen until the results are out of the way.

[chrismultisante] 14/3/2019 11:33

The fog will clear on 21st march then its blue sky all the way.

[hsfinch] 14/3/2019 11:31

You can't argue with the reserves downgrade. Pretty obvious from production stats to date. And confirmed by Cairn a couple of days ago. share price had to fall to current levels. Sure if oil moves up then enq should move up. But worry about more bad news from Kraken. It can't be ruled out.

[american idiot] 14/3/2019 10:45

A piece on Brent courtesy of IG.



Brent rallies through key breakout level

Brent has managed to rally through the $67.82 resistance level this morning, providing confirmation to the similar move that happened in WTI yesterday. This points towards further upside to come, with a bullish view in place unless we see a break below $66.32.

From a wider perspective, this looks like the beginning of a strong surge for crude prices, and with the price having broken out of its recent consolidation, we are hoping to see the bullish bias really take hold in the coming days.

[sleveen] 13/3/2019 19:38

good post steelwatch

[steelwatch] 13/3/2019 18:41

I would also point out that DC4 should have been drilled immediately after the other drill centres were completed in the Spring of last year. As it was, after arriving on location, the rig developed mechanical problems requiring the rig to be towed to repair facilities in Norway. This allowed Enquest to terminate the contract and renegotiate on more favourable terms and also to take a breather. After repairs were completed, the rig went out on a single exploration contract on the Agar field and should have returned to DC4 in September. However, due to the Agar Plantain well emerging as a discovery and the need for extensive flow testing, the rig finally arrived at DC4 in November.

None of this was allowed for in setting the 2018 production target and DC4 is finally coming on line some 9/10 months late.

[colebrooke] 13/3/2019 17:50

Production guidance from the Ops Update in February for 2019 was forecast between 63,000 and 70,000 Boepd.Debt at 31/12/18 was $1.774 million reduced by $200 million from $1,973 million at 30/06/18. Not bad debt reduction for 6 months. If oil stay where the Saudis want it this debt will reduce significantly again this year.In terms of Kraken even Cairn are saying with the DC4 wells online in Q2 that 40,000 Boepd at the top end is possible. If they can get that sort of sustained production then the share price will recover significantly.

[datait] 13/3/2019 17:32

Ammu how is it going lmao

[colebrooke] 13/3/2019 17:25

Agree this is drastically oversold unless I'm missing something. Production guidance from the Ops Update in February for 2019 was forecast between 63,000 and 70,000 Boepd.Debt at 31/12/18 was $1.774 million reduced by $200 million from $1,973 million at 30/06/18. Not bad debt reduction for 6 months. If oil stay where the Saudis want it this debt will reduce significantly again this year.In terms of Kraken even Cairn are saying with the DC4 wells online in Q2 that 40,000 Boepd at the top end is possible. If they can get that sort of sustained production then the share price will recover significantly.

[leoneobull] 13/3/2019 16:33

Encouraged by the stable share price today. I expect a decent bounce on full year results barring any skeletons in the closet. Do not take as investment advice

[stansmith3] 13/3/2019 15:59

deanpositionpostingc@@@and here you were complaining about me persecuting you yesterdaywithin one day of turning up you start the nasty posts about single digits based on your positionno words for people like you

[onedb1] 13/3/2019 15:52

Cairn up 2% today too .

[onedb1] 13/3/2019 15:35

I saw that Colebrooke. We need to see a stop in the decline forming for Enq . Need to keep oil doing well and results (21st ) to motivate buyers back in . Crazy as CEO correct me if wrong bought at 19.5 and the recent Magnus acquisition at $70 has a NPV of almost $500m . $67.1 at the moment ....if Enquest was forecasting a different production target am sure they have to tell the market . They are saying guideline is intact

[laptop15] 13/3/2019 14:43

Nice to see Oil up again!

[deanroberthunt] 13/3/2019 14:40

PMO up 6% 2day

[colebrooke] 13/3/2019 14:38

EIA inventory saw a drawdown of 3.862 million estimates were for a build of 2.655 million oil moving up to new high.This won't stay at 16p

[colebrooke] 13/3/2019 14:37

EIA inventory saw a drawdown of 3.862 million estimates were for a build of 2.655 million oil moving up to new high.This won't stay at 16p

[stansmith3] 13/3/2019 13:52

still waiting on 22 forecast by onedeuchebag and master kleenexthe latter i note is hiding in his bunker after peeing his pants

[sleveen] 13/3/2019 13:10

CNE down 3%

[deanroberthunt] 13/3/2019 12:41

full disconnect from it's peers....PMO 57p to nearly 80p in same period

[stansmith3] 13/3/2019 09:46

if mkt agreed with you they would be snapping them up...

[laptop15] 13/3/2019 09:34

I've been loading up in the 16s....way to cheap imo....results next week could see a big rise from these silly low prices

[exile] 13/3/2019 08:23

"One of them is a member of the General Synod of the Church of England and of the finance committee of the Archbishops’ Council for God's sake!".

Personally I'm suspicious of people like this.

[leoneobull] 13/3/2019 05:26

Thanks to Romaron on LSE"While the Group's audit of the 2018 financial results is not yet complete, the Group does not expect to recognise any impairment charge related to the Kraken asset. EnQuest will report its financial results for the year ended 31 December 2018 on 21 March 2019."So they are still putting the finishing touches to the FYR and it is not yet set in stone. Today's events will have to be run past the financial auditors who last time I looked were EY. They also have to get past the company's own Audit committee. Directors have reputations to protect and I have seen nothing to suggest anything other than total probity and adherence to best governance practise. One of them is a member of the General Synod of the Church of England and of the finance committee of the Archbishops' Council for God's sake!. I'll wait until Thursday week and try to ignore the mud-slinging from anonymous posters who clearly have too much time on their hands or are just seeking attention. Build it and they will come.

[leoneobull] 13/3/2019 05:22

Materially unchanged...means they aren't likely to downgrade reserves by that much, if anything. Again, a small reserves downgrade with some upside from Magnus ought to stabilise this baby.