Enq 23 �pik Tog Discussion Threads

[ashkv] 28/11/2023 07:49

Trading update from Enquest today 28 Nov 2023



A solid update and meeting mid-guidance for 2023 :)

SP: 13.95
ENQ Current Share Price vs 52 Week low of 13.37p on 5 Oct 23: 4.18%
ENQ Current Share Price vs 52 Week High of 24.6p on 5 Dec 22: -43.29%
Brent: $81.00
Shares Outstanding: 1,885,922,875
GBPUSD: 1.255
Production Average (Actual) Up To End Oct 2023: 43,872
Production Guidance 2023 (Mid 42,000-46,000): 44,000
Production Average (Actual) FY 2022: 47,259
Net Debt (USD) as of 31 Oct 23: $585,800,000
Market Cap (GBP): £263,086,241
Market Cap (USD): $330,173,233
ENTERPRISE VALUE (EV=Market Cap + Debt - Cash)(USD): $915,973,233
EV/Barrel(USD) Average Production Up To End Oct 2023: $20,878
EV/Barrel(USD) Guidance 2023 (Mid-Point): $20,818
EV/Barrel(USD) Average Production FY 2022: $19,382
Decommissioning Provision (HY 2023): $715,139,000
EV/Barrel(USD) including Decommissioning Provision: $37,071
2P Reserves BoE (Year End 2022): 190,000,000
EV/2P: $4.82
EV (Including Decommissioning Costs)/2P: $8.58

[verymaryhinge] 28/10/2023 18:38

hxxps://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4407604&;lang=en-GB&companycode=uk-ipf&v=r2023

If you’re looking for a home ..

[return_of_the_apeman] 19/10/2023 17:05

Yeah ii paid up 1.16p for each £1 invested if that helps

[grahamg8] 18/10/2023 18:38

Has anyone had their interest since 15 August paid? HL coughed up the capital but no interest so far.

[return_of_the_apeman] 18/10/2023 18:12

£3.99 per trade on the phone, only have to pay £40 if it is over £100K

Have only ever called them for stuff that can't be dealt online

No I don't work for them :-)

[aamhager] 18/10/2023 11:28

Did you pay the phone dealing fee of £49?

[return_of_the_apeman] 18/10/2023 10:42

Thanks for the replies

fwiw - I've stuck the proceeds from ENQ1 into

CVBP (COVENTRY BUILDING SOCIETY 12 1/8% PIBS) @£1.51

and

LBS (LEEDS BUILDING SOCIETY 13.375% PIBS) @£1.678

Both yielding 8% - had to call ii to place the deals, but was straightforward

I am on the fence regarding ENQ2, I will probably end up buying some at some point

[grahamg8] 17/10/2023 16:08

I exchanged most of my 2022 notes for 2027 so I’m fully loaded. ENQ1 has been a good short term hold for spare cash, so I have to find another home for the funds sadly.

[my retirement fund] 17/10/2023 12:49

Yes, I've chosen to recycle into the 2027s. No brainer, really, if you can afford to wait and need some decent income.

[laughton] 17/10/2023 11:50

Depends on how much risk you want to take.
There's always ENQ2. YTM a shade over 11.5% at 92P

[my retirement fund] 17/10/2023 11:28

I think I've the same problem

[return_of_the_apeman] 17/10/2023 09:08

Anyone received their maturity payment yet and have any ideas where they are likely to put it next?

Tia

[return_of_the_apeman] 17/8/2023 17:00

Interest payment received at ii today

[grahamg8] 28/5/2023 08:04

ENQ2 now looks a better buy. Running yield coupon 9% = 9.47%pa with a buy price of 95. add capital gain 5/95 over 53 months around 1.19%pa flat rate. ENQ1 roughly 11.14% interest and -1.3% capital loss at a price of 100.55. These ignore dealing costs, a tighter spread if you are lucky, greater risk of default for the longer date (although the reverse could be argued).

Buying ENQ1 just before the interest cut off date might still work. Worth watching closely to give a short term home for spare capital. I bought on 31 January and ‘earned’ 6 months interest on 15 February. Nice one.

[return_of_the_apeman] 17/5/2023 09:46

I look at it as total you will get back is 103.5p + any difference you can buy at today below par of 100p. And I calculate the rough annual equivalent yield by dividing that by 5 months then multiplying it by 12. I have not checked todays price as I would have to ring my broker as neither of my accounts allow this to be traded online anymore

[verymaryhinge] 17/5/2023 08:34

right now you are getting 1.82 points of accrued for free, so you're essentially paying 97.95 - Bloomberg shows a Street convention of 12.32 and an Equiv 1 yr yld of 12.7pct

alternatively on Bloomberg enter a maturity of 101.82 at 99.75 and it gives an equiv yeild of 12.00%

[return_of_the_apeman] 17/5/2023 08:20

Hi VMH,

At a buy price of 99.75p, if that is what you are quoted? I make it

One coupon left on maturity of 3.5p + 0.25p as they redeem at 100p
Annual equivalent yield = 3.75/5 months left x 12 months = 9%

This will probably give you a slightly more accurate answer



Hopefully oil averages $65+ over the period and in a couple of months they are still trading below par :-D

[verymaryhinge] 16/5/2023 14:32

given these trade flat of accrued coupon - sub 99.75 i'm getting them at an effective 12.15 running yield to maturity for 5 months- that's f'in crazy ! not advice, just saying it's a gift horse imo.

[wozzitworthit] 13/10/2022 12:40

For past few days have been unable to sell or purchase ENQ1 on line with Hargreaves Lansdown

Haven't spoken to them yet, but has anybody else had same issue ?

[wozzitworthit] 21/8/2022 15:10

Not yet (HL)

[eastwind] 21/8/2022 14:29

Has anybody got their ENQ1 interest yet?

[ditchsid] 20/6/2022 21:24

Have you looked at ENQ2. 9% Coupon and no PIK restrictions.

[verymaryhinge] 20/6/2022 08:13

a better question is whether they are trading "flat" or "cum" accrued interest.