Enquest Share Discussion Threads

[laptop15] 18/3/2019 10:46

Mallorca is obviously a shorter with his negative comments...lol

[stupmy] 18/3/2019 10:28

Thanks, Laptop, that's what I wanted to know. I guess time will tell and hopefully soon.

[careful] 18/3/2019 10:27

Looking forward to the results.
all of this market trading and chit chat means nothing compared to the results.
Risk reward may be high here, but this could be a multi bagger if things turn out well.

[laptop15] 18/3/2019 10:20

My Take on the share price about to change is the large delayed sell from last week had caused the share price to drop below the 16p range so the mms drop the share price to fill the sell order at 15.3p and now its through they will more than likely rose the share price and allow other to buy it back at a higher price. Plus I have a feeling we will see some large director buys on results day so once again the mms will push the share price higher to get the highest price and cash in on the opportunity. That's my theory on the share price anyway. Coupled with my other points. I particularly follow the William % indicator as once this hits -100 a rise often follows in a few days or more

[mallorca 9] 18/3/2019 10:07

sub 10p this week - let's wait and see.

[american idiot] 18/3/2019 09:59

Not necessarily !

High Debt levels + Uncertainty surrounding production from Kraken + Brent dropping like a brick into 2018 year end + Lack of 2019 hedges = The perfect storm to hammer down Enquest's shareprice.

Fearing the potential of the worst case scenario and what is actually the reality can be two completely different things.

For all we know, there might be a huge sigh of relief on Thursday that things are really not so bad for Enquest which might then propel the share price a few P higher. It wouldn't surprise me at all.

[cumnor] 18/3/2019 09:53

Reserves are one thing-can ENQ get sufficient oil out of the ground from Kraken in a timely manner to service its debt?

[mallorca 9] 18/3/2019 09:52

Well the Market doesn't like something.
Debt = short.

[american idiot] 18/3/2019 09:48

Mallorca,

Apparently both companies have different ways of preparing the reserve values of Kraken.

Me thinks more probably we share the same views on that....hence Enquest so quick to defend on 12 March.

[mallorca 9] 18/3/2019 09:45

strange then that Cairn has announced a reserves downgrade then and set aside an impairment charge !
Could be very serious for ENQ given the debt pile here.

[american idiot] 18/3/2019 09:41

Wrong Mallorca for the reasons Enquest explained in that RNS dated 12 March which was released AFTER Cairns downgrade.

Maybe just kicking the can down the road but no material Kraken impairment is expected on Thursday.

[mallorca 9] 18/3/2019 09:34

Idiot -
yes I've seen that.
It say's that they 'do not expect to'
If Cairn has now downgraded the reserves estimate then ENQ will have to do so also.
That's what is behind the most recent fall in sp, and a lot further downwards to go I think.
May tank below 10p on Thursday.

[stupmy] 18/3/2019 09:30

Laptop I agree with all of that, but it's not really what I was asking. That information may help with a long term view, but you suggested selling was over and that price action was going to change. It's that that I wanted to know your view on. I can't see that for the moment. I can't even see clear evidence of support at this level. As far as being oversold is concerned it really does not indicate that price will suddenly change direction. It may be a reason to sit up and pay attention, but I don't see that as a buy signal. I have no view on the next move, but for me I have no evidence yet, that the downside is over. This has been sold down for a reason. If it's Kraken, maybe the selling is going to slow and maybe even reverse on/after the 21st. If it's something else you might see sharp downside. I'd like to think there will some buying soon, but I'm not seeing it yet.

[american idiot] 18/3/2019 09:24

Did you not read the RNS dated 12th March Mallorca ?

Just incase you missed it, I'll post part of it for you.

Me thinks you have already seen it but you're just trying your best to talk the company down. Whatever works for you eh ;-)

12 March 2019

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.

[mallorca 9] 18/3/2019 09:21

Surely the results on Thursday will have to declare the impairment for reduced Kraken reserves - as Cairn has already announced in their results.
There will then be another sharp share price fall - sub 10p for starters.
Will that then also worry the bank ?

[laptop15] 18/3/2019 09:16

Well stupmy, the share is very oversold. The CEO was buying at a much higher level and has the largest holding in the company so that's something tobtake note of imo. Also the large increase in production and target of 63,000 -70,000 bopd....economies of scale will come into play. Oil looks like its going to rise. The Magnus acquisition also looks good for the future. Results on Thursday should read well as oil was strong and interims were good. Some clever hedges were also made so that will also help as oil declined

[steelwatch] 18/3/2019 09:02

AI - winter storms may have impacted production too, as was the case last year I believe.

[stupmy] 18/3/2019 09:02

Laptop, I have no idea what the future holds here, but from the charts I currently see no evidence at all that everything suddenly turned rosy. Could you explain your view please. For my money, we need more time to develop patterns of price action that suggest a turnaround. Not saying it won't happen, just saying that I don't see any evidence for the moment. Please explain your view

[jotoha2] 18/3/2019 08:56

I will remind you of your .32 rise once we recover to 32p , which will not be that far away , great company , will come good.

[american idiot] 18/3/2019 08:54

Kraken offloads this year...

Last offload in 2018 was December 29th.(I think as I put a ? next to this on my notepad)

First offload in 2019 was on 24/25 January. Thats 26/27 days after the last offload. This delay was due to a mechanical breakdown onboard Kraken which was later repaired.

Next offload was 11 February. Thats around 18 days after the previous offload. (A few days behind the norm of 2018)

Next offload was 9 March. Thats 26 days after the previous offload which is very very poor. Initially, this spooked me out as there was no reported breakdowns leaked online anywhere. The shareprice then began to sell off and then Cairn downgraded 2P reserves to make matters worse.

I now just have a vibe that DC4 being connected could have had something to do with the limited production between 11 February - 9 March and I'm now fully expecting (give or take the next offload or two) for timespans between offloads to resume back to the more normal 14/15 days apart with the potential for better still given the production boost expected from DC4.

Just thinking aloud thats all.

[stansmith3] 18/3/2019 08:34

up .32 onedeuchebag getting ready to come out his bunker and master kleenex just wet the bed..

[laptop15] 18/3/2019 08:33

Blue day today after selling pressure off now and all those stop losses triggered....my guess is a steady rise to the results and 20p by the end of the week

[stansmith3] 18/3/2019 07:39

if he had made the same post two weeks ago saying 15p you would have also called him deludedit seems someone is deluded

[cumnor] 17/3/2019 23:03

The idiot mallorca posting his usual tripe on weekends only when there are plenty of student shelf stackers to relieve him from his daily grind. Deluded.