Enquest Share Discussion Threads

[laptop15] 19/3/2019 08:47

Well my theory seems to be playing out so far Stupmy :) oil on the rise again too and looks like its going back in to the $70 range soon enough

[colebrooke] 19/3/2019 08:46

Added more ENQ and PMO this morning. POO set up for $70+ and oil stocks have some catching up to do especially ENQ...

[laptop15] 19/3/2019 08:33

Oil on the rise and nice to see ENQ rise continuing from yesterday with results out Thursday and expected to be good :)) I'm hoping back to 20p by Friday

[stupmy] 19/3/2019 08:32

Good calls yesterday Laptop. On the charts, I was watching a pause in the fall but saw no strong evidence of a rise to come (other than bullish divergence on 4h chart 1433 stochs/RSI and MACD histo; not necessarily good buy signals). 4h charts and smaller time frames). I have a first decision point at 16.6, then a falling tl resistance currently around 17.6.

[colebrooke] 19/3/2019 08:23

Is Enquest worth a punt ahead of full-year results this week? (ENQ) by ValueTheMarkets • March 18, 2019 ValueTheMarketsMarch 18, 2019 Last week Enquest (LSE:ENQ) shares dipped to a three-year low after its Kraken project partner, Cairn Energy, reduced its estimate of reserves for the field by 19pc. Enquest was quick to dispute the 2P reserve downgrade, stating it's estimate remains 'materially unchanged'. Enquest highlighted it uses different technical approaches to Cairn for the production forecasting of Kraken and assured investors that it does not expect to recognise any impairment charge related to the field. At today's share price of 15.5p, Enquest's Market Cap is just £260m. That seems pretty cheap for a company expecting to average 63-70k barrels of oil per day (bopd) this year. It is, of course, the company's debt mountain which, in addition to a poor performance from the Kraken field, has continued to stump sentiment in the stock. At the end of December 2018, debt stood at $1.774bn, an improvement on the half year levels of nearer $2bn but the company is very sensitive to oil price movements and as a result, is not attractive to the risk-averse. However, things are looking up, with the firm significantly increasing its ability to generate positive cashflow after the acquisition of a number of assets from BP including the Magnus asset. In an operational update in February, CEO Amjad Bseisu made it clear debt reduction is the company's key focus saying: "We expect material production growth of around 20% in 2019. Our capital programme includes new wells at Magnus, Kraken and PM8/Seligi as well our pipeline projects at Thistle/Deveron and the Dons and Scolty/Crathes. The successful delivery of this programme will underpin production during 2019 and beyond. Our focus on cost control and capital discipline, combined with our improved cash generation capability enables further repayment of debt, which remains the priority for the Group." Amjad Bseisu has certainly put his money where his mouth is. The CEO bought Enquest stock in November and January at 23.3p and 19.4p respectively, collectively worth £663.5k.This takes the director's interests in the company up to pc via a trust vehicle set up for his family called Double A Limited. Enquest's recent share price action is ugly to put it mildly. The sharp pullback in the oil price together with the rights issue at 21p in the last quarter of 2018 saw the stock price halve. Cairn Energy's reserves writedown for Kraken pushed Enquest below 18p support with the price now stumbling along a weak support trendline (red). However, unless there is further bad news, it seems likely the worst is now priced in. When sentiment becomes this negative on a stock it can often be slow to turn, but there may just be a suitable catalyst on the horizon. Full-year results are due to be released on Thursday this week. Any positivity in the results will likely trigger a decent rally from these subdued prices.

[colebrooke] 19/3/2019 08:22

Is Enquest worth a punt ahead of full-year results this week? (ENQ)by ValueTheMarkets • March 18, 2019ValueTheMarketsMarch 18, 2019Last week Enquest (LSE:ENQ) shares dipped to a three-year low after its Kraken project partner, Cairn Energy, reduced its estimate of reserves for the field by 19pc. Enquest was quick to dispute the 2P reserve downgrade, stating it's estimate remains 'materially unchanged'. Enquest highlighted it uses different technical approaches to Cairn for the production forecasting of Kraken and assured investors that it does not expect to recognise any impairment charge related to the field.At today's share price of 15.5p, Enquest's Market Cap is just £260m. That seems pretty cheap for a company expecting to average 63-70k barrels of oil per day (bopd) this year. It is, of course, the company's debt mountain which, in addition to a poor performance from the Kraken field, has continued to stump sentiment in the stock.At the end of December 2018, debt stood at $1.774bn, an improvement on the half year levels of nearer $2bn but the company is very sensitive to oil price movements and as a result, is not attractive to the risk-averse. However, things are looking up, with the firm significantly increasing its ability to generate positive cashflow after the acquisition of a number of assets from BP including the Magnus asset. In an operational update in February, CEO Amjad Bseisu made it clear debt reduction is the company's key focus saying:"We expect material production growth of around 20% in 2019. Our capital programme includes new wells at Magnus, Kraken and PM8/Seligi as well our pipeline projects at Thistle/Deveron and the Dons and Scolty/Crathes. The successful delivery of this programme will underpin production during 2019 and beyond. Our focus on cost control and capital discipline, combined with our improved cash generation capability enables further repayment of debt, which remains the priority for the Group."Amjad Bseisu has certainly put his money where his mouth is. The CEO bought Enquest stock in November and January at 23.3p and 19.4p respectively, collectively worth £663.5k.This takes the director's interests in the company up to pc via a trust vehicle set up for his family called Double A Limited.Enquest's recent share price action is ugly to put it mildly. The sharp pullback in the oil price together with the rights issue at 21p in the last quarter of 2018 saw the stock price halve. Cairn Energy's reserves writedown for Kraken pushed Enquest below 18p support with the price now stumbling along a weak support trendline (red). However, unless there is further bad news, it seems likely the worst is now priced in.When sentiment becomes this negative on a stock it can often be slow to turn, but there may just be a suitable catalyst on the horizon. Full-year results are due to be released on Thursday this week. Any positivity in the results will likely trigger a decent rally from these subdued prices.

[bigsi2] 19/3/2019 08:09

Especially with rise in POO this last week-

[profitaker] 19/3/2019 08:01

Revenue is in the region $1.2 billon.

[onedb1] 18/3/2019 23:45

Big uncrossed trade there at the end today 15.7pAm 4.8p down at the moment . Av 20.5 .

[svenice7] 18/3/2019 19:02

Market cap does seem very low especially for a company with revenues of nearly 0.7billion$, even thou the debt is 1.7billion, debt is reducing. The patient investors will be rewarded imho.

[laptop15] 18/3/2019 17:39

https://www.cnbc.com/2019/03/18/opec-cancels-april-meeting-pushes-decision-on-oil-output-cuts-to-june.html

[laptop15] 18/3/2019 16:58

https://twitter.com/ValueTheMarkets/status/1107637559667109889?s=19Nice article here by value the marketsI've been buying anyway....balls are needed to make money.The secret to making money in shares is not getting scared out of them

[svenice7] 18/3/2019 16:41

Good value at these prices imho

[laptop15] 18/3/2019 16:41

Well that's a nice close....someone must be confident a nice 1 million share buy :)The recovery has started imo

[stansmith3] 18/3/2019 16:40

hano, dont have any enq, plenty others to keep me worried

[american idiot] 18/3/2019 16:37

15.7p UT

Nice to see you are now long Stansmith ! ha.

[stansmith3] 18/3/2019 16:30

huge amount of vlccs got filled up in the gulf last week, draw nailed on

[laptop15] 18/3/2019 16:11

Buyers coming in and an oil rally might be on the cards :))

[stansmith3] 18/3/2019 15:19

amerno problem, i was only countering steves post - someones posts i do like readingunfortunately i know only too well to my cost the problem with shares...best

[american idiot] 18/3/2019 15:07

WTI at fresh four month highs.

Brent moving ever closer to $70 / barrel



I am still awaiting the RBC upgrade in share price to reflect higher Brent prices (Their 15p analysis based on Brent at $60)

Come on, Victoria, please play the game fairly.

[american idiot] 18/3/2019 14:51

Stansmith,

That is the problem with shares. They do not always do what you believe they should do when you believe they should do it. 24p probably seemed a decent price when they were higher only days before...but then......hindsight !

For somebody buying for short-term gain then buying at anything much higher than the current price was a bad move, but then there are those who may have a longer-term view and are happy to pay 24p or whatever after seeing the share price in the 40's only a few months earlier.

AB might come back to you with a 'told you so' in a years time as hes counting out his pennies :-)

[stansmith3] 18/3/2019 13:02

and anyone who didnt follow his recent buys would have done very well alsohe bought loads at 24...

[steelwatch] 18/3/2019 12:19

Storm passed. AHTSs back on the case DC4

[steve73] 18/3/2019 11:39

"buying because the director is buying is not a sensible investing approach either"

Anyone following the PMO CEO's buy at c. 43.75 in June 2017, just before the refinancing was completed, would have done very well. His buy clearly signaled the bottom, and it was then further boosted by the Zama news shortly thereafter.

It can often be a noticeable signal... amongst other signs, of course.

[stansmith3] 18/3/2019 10:46

jotohofor enq to get to 32 all of my oilers would have done well too, in fact they would likely have outperformed enqthats really the problem here, some are starting to worry, others are locked in and making it personal as you just didenq rising wouldnt prove anything to anyone - although you seem to think so - buying because the director is buying is not a sensible investing approach eitherwho knows, lets just say the confidence has disappeared here and the sensible ones are taking a second look at what they own