Enquest Share Discussion Threads

[deanroberthunt] 21/3/2019 09:30

aye, Leo...let's just forget Democracy and just have Totalitarianism eh...

[american idiot] 21/3/2019 09:23

In the near term, we remain focused on investing in short-cycle projects which maximise cash flow and allow us to deliver on our plans to reduce our debt. We have opportunities for low-cost material growth in near-field, short-cycle infill and tie-back investments, particularly at Magnus, PM8/Seligi and Kraken.

"Longer term, our capital allocation will balance investment to develop our asset base, returns to shareholders and the acquisition of suitable growth opportunities."

Excellent !

[jotoha2] 21/3/2019 09:21

On those numbers 30p within a couple of weeks if oil holds or improves a tad.

[leoneobull] 21/3/2019 09:15

That's a good sign Andy. Assuming a double bagger from here

[svenice7] 21/3/2019 09:12

Agreed, if they maintain over 1 billion revenue and start chunking off the debt, easy 50-100p etc

[jswjsw] 21/3/2019 09:10

pe still 2.5 and TNAV 37p !!!
YOu could cite debt - but even that is dropping fast!!

Free money, anyone???!!
j

[american idiot] 21/3/2019 09:09

Still cheap as chips even at 25p on todays results / forward guidance for the rest of 2019.

[stansmith3] 21/3/2019 09:07

jotohaglad it worked out for you i did get some at 17.20 yesterday, having sold higher, so far this has gone well but if price keeps rising i will lose out as i have a smaller holding than i dideveryone though as i suspected/pointed out should have been following mallorca

[andypop1] 21/3/2019 09:05

That's me out.
GLA

[deanroberthunt] 21/3/2019 09:03

luv u mallorca

[deanroberthunt] 21/3/2019 09:02

luvin it..

[mallorca 9] 21/3/2019 09:02

Could accelerate through 25p.
Could be adding my next long position as soon as next week !

[gregpeck7] 21/3/2019 09:00

In auction... shorts are losing their shirts here.. new investors piling in as well as upside is clear. Oil pressing on.. perfect storm.

[american idiot] 21/3/2019 08:57

BUZZ – EnQuest: focus on debt reduction after 2018 profit doubles
2019-03-21 08:50:37

* British oil producer EnQuest up 9.2 pct to 19.3 pence after 2018 core earnings more than double
* Co says FY EBITDA jumps to $716.3 mln from $303.6 mln a year earlier, due to higher output...
* Co says it looks to keep its focus on reducing its $1.77 bln debt this year
* "In the near term, we remain focused on investing in short-cycle projects which maximise cash flow and allow us to deliver on our plans to reduce our debt" - co statement

[deanroberthunt] 21/3/2019 08:55

if you remove the debt 70bopd is worth about $2.5-3bn

[jswjsw] 21/3/2019 08:55

YOu could cite debt - but even that is dropping fast!!

Free money, anyone???!!
j

[jotoha2] 21/3/2019 08:55

Stan , you should always follow the money , that is how it works , fantastico morning !!

[deanroberthunt] 21/3/2019 08:54

smokin….glad I piled in yesterday....

[leoneobull] 21/3/2019 08:53

They are closing in a stampede now

[leoneobull] 21/3/2019 08:51

"FT - EnQuest expects Kraken 'improvement' despite Cairn warning". UK oil group forecasts increased production at key asset after maintenance concludes. Nathalie Thomas in London. UK oil producer EnQuest has insisted production at Kraken, one of its key North Sea assets, will "significantly improve", despite its partner in the project last week lowering its expectations of how much crude can be recovered from the field.Shares in EnQuest took a hit last week after Cairn Energy reduced its forecast of recoverable reserves at Kraken by 19 per cent, or 6.8m barrels. EnQuest, which operates the project and has the larger stake of 70.5 per cent, immediately disputed Cairn's revision, citing "different technical approaches" to forecasting production.In its full-year results on Thursday, EnQuest said production at Kraken is expected to improve as maintenance activities on the extraction vessel at the field - which has been at the heart of problems since the first oil was produced in 2017 - are completed.The field is expected to produce between 30,000 and 35,000 barrels per day, the company said, although this is considerably lower than the 50,000 barrels/day it had originally been expected to yield at peak.Overall, EnQuest's full year production this year is expected to grow by 20 per cent to 63,000-70,000 barrels of oil equivalent per day, primarily driven by the Magnus field, north-east of the Shetland Islands.EnQuest last year raised $128.9m through a rights issue to buy the remainder of the Magnus oilfield from BP after acquiring an initial stake a year earlier.Overall production at the company averaged 55,447 per day in 2018, a 48 per cent increase on a year earlier, which helped drive revenues at the group up 89 per cent to $1.2bn as it also benefited from higher oil prices, although this was offset to a certain extent by the negative impact of commodity hedges. Pre-tax profit improved to $290m from $47m a year earlier.EnQuest had net debt of $1.77bn at the end of 2018, down from $1.99bn a year earlier. It said debt reduction would continue to remain a priority, although the group's chief executive, Amjad Bseisu, said the company would look at "suitable" acquisition opportunities longer-term once debt has been returned to "sustainable levels".EnQuest, like several other UK listed independent oil producers, racked up high debts after the oil price crash of 2014 as they had already committed to capital intensive development projects as income was dropping". 

[mallorca 9] 21/3/2019 08:49

That was a nice start.
I think I said yesterday that we'd close today above 19p.
Maybe now it'll close around 19.5p on the bid.
I'll predict that the steady money and upward rise towards 25p will commence next week.
I will add my next 'block' at 25p.

[gregpeck7] 21/3/2019 08:48

Lots of shorts lurking under the 0.5 percent declaration zone. Panic stations there now as they see their profits going into reverse .

[leoneobull] 21/3/2019 08:47

185000. Short closing. Make them pay the max

[leoneobull] 21/3/2019 08:45

"FT - EnQuest expects Kraken 'improvement' despite Cairn warning". UK oil group forecasts increased production at key asset after maintenance concludes. Nathalie Thomas in London. UK oil producer EnQuest has insisted production at Kraken, one of its key North Sea assets, will "significantly improve", despite its partner in the project last week lowering its expectations of how much crude can be recovered from the field.Shares in EnQuest took a hit last week after Cairn Energy reduced its forecast of recoverable reserves at Kraken by 19 per cent, or 6.8m barrels. EnQuest, which operates the project and has the larger stake of 70.5 per cent, immediately disputed Cairn's revision, citing "different technical approaches" to forecasting production.In its full-year results on Thursday, EnQuest said production at Kraken is expected to improve as maintenance activities on the extraction vessel at the field - which has been at the heart of problems since the first oil was produced in 2017 - are completed.The field is expected to produce between 30,000 and 35,000 barrels per day, the company said, although this is considerably lower than the 50,000 barrels/day it had originally been expected to yield at peak.Overall, EnQuest's full year production this year is expected to grow by 20 per cent to 63,000-70,000 barrels of oil equivalent per day, primarily driven by the Magnus field, north-east of the Shetland Islands.EnQuest last year raised $128.9m through a rights issue to buy the remainder of the Magnus oilfield from BP after acquiring an initial stake a year earlier.Overall production at the company averaged 55,447 per day in 2018, a 48 per cent increase on a year earlier, which helped drive revenues at the group up 89 per cent to $1.2bn as it also benefited from higher oil prices, although this was offset to a certain extent by the negative impact of commodity hedges. Pre-tax profit improved to $290m from $47m a year earlier.EnQuest had net debt of $1.77bn at the end of 2018, down from $1.99bn a year earlier. It said debt reduction would continue to remain a priority, although the group's chief executive, Amjad Bseisu, said the company would look at "suitable" acquisition opportunities longer-term once debt has been returned to "sustainable levels".EnQuest, like several other UK listed independent oil producers, racked up high debts after the oil price crash of 2014 as they had already committed to capital intensive development projects as income was dropping".