Share Name Share Symbol Market Type Share ISIN Share Description
Enquest LSE:ENQ London Ordinary Share GB00B635TG28 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.15p -0.48% 31.20p 31.30p 31.35p 31.60p 30.60p 30.85p 3,508,239 16:35:14
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 464.6 -180.5 -4.0 - 528.65

Enquest Share Discussion Threads

Showing 9601 to 9622 of 9625 messages
Chat Pages: 385  384  383  382  381  380  379  378  377  376  375  374  Older
DateSubjectAuthorDiscuss
16/10/2018
13:29
Steve73..... Like most of my share buys I always end up holding longer than I had planned...
exile
16/10/2018
12:02
exile.. depending on who your with it's probably already too late to buy the rights (or at least too late to pay for them, so you'd end up in the rump.) But your shares may well turn out to be pretty well timed, +/- the odd penny, if you plan on holding for a while. NAI
steve73
16/10/2018
10:55
As daft as this sounds I have ignored the rights and bought some stock,
exile
16/10/2018
08:47
exile.. I do know that Kraken is defined as 2 discrete heavy oil accumulations, and so we get 2 lots of allowance for that... 800MM each, which should last us a few years. btw.. My NP's need to be paid for by mid-day today...(although I understand that other brokers have already passed their deadline). Certainly looking like the "rump" will be worth less than anticipated.
steve73
15/10/2018
13:58
Do you think ENQ may be due a tax rebate ? www.dailymail.co.uk/money/news/article-6272799/Treasury-forced-hand-1bn-tax-refunds-oil-giants-North-Sea-profits-decline.html
exile
11/10/2018
08:11
Cheers Steve. Yes NPV is in favor, its just our much needed CF that's delayed.
rationaleee
11/10/2018
07:29
I'd missed that AB comment about spreading the loan over 5 years... so maybe we will get some of our 50% share (of the 75%) before it's fully paid off.. My understanding is that $1Bn must be paid from their 50% share for as long as it takes.. My model suggest it will all be fully paid after around 10-15 years.. Thereafter we'll get 100% of the FCF. So yes.. it will "cost" us more than the $300MM... but the NPV is still very much in our favour, and we should earn a lot more than BP get from it. But you need to recognize that the $1Bn is not a loan....if CoP (Cessation of Production) occurs before that's all been paid out, there will be nothing owing.
steve73
11/10/2018
07:12
Cheers Steve. I agree, hopefully Kraken holds 40kbpd until DC4. Wonder if OZ/RI was needed due to the lower realised oil prices of $59/bbl (lowest among PMO, ENQ, TLW) in HY18 and hedge losses of 70mn? So AB mentioned in the recent results ; 'So the vendor loan would then reduce from $200 million to $100 million, would be payable over 5 years. So roughly $20 million per year over 5 years. ' So that vendor loan you mentioned doesn't have to be paid off asap but is over 5 years. My confusion arises from the $1bn cap on CF to BP. Does that mean even after having 100% of Magnus we will keep paying from our half of the 75% with respect to vendor loan (20mn/yr) and CF from the other half i.e. 6kbpd keeps going to BP until $1bn cap is reached? I'm sure i must be misunderstanding this because from my understanding it looks like Magnus asset did not just cost $300mn but a lot more in CF terms($1bn?) In your recent comment Steve ; 'So if I understand the Magnus deal correctly, the net cash flow from the 75% portion is to be backdated to 1 Jan 2017... although 50% of this is for BP (until they've received $1Bn) and the remaining NCF must be used to reduce the remaining $200MM loan from BP (so we get nothing for the 75% until the loan is paid off).' Does that not mean Magnus actually is a costly deal in the end as we are only entititled to a total of 6kbpd production (ex our 25%) off the 15kbpd current production for CF (most important) purposes? Apologies for all the confusion. Cheers
rationaleee
11/10/2018
02:02
rats.. The glaring error in your summary is that the 50% of the Magnus 75% that goes to us, must be used to repay the 200MM load to BP. So in the short term (i.e. until the loan to BP has been paid, the additional 75% of Magnus bring us zero cash flow... but my estimations suggest that this will be fully repaid after a little over 2 years, and is back dated to Jan 2017 anyway. Oh, and Kraken is looking like it's back to around 40kbopd now, and expected to get higher as DC4 is completed, so that should offset the OZ drop. It still all very much hinges on a healthy Oil price.
steve73
10/10/2018
21:06
Steve, epiphany and others - Wanted to get your thoughts around my understanding of the recent Magnus transaction and the OZ deal. So OZ deal as I understand is 15% of Kraken ring fenced(not 15% of our 70% interest). So that would mean in terms of cash flow our Kraken interest is 55% now. i.e. at 35kbpd gross rate 5.25kbpd CF(cash flow) will go to OZ and our Kraken share drops to 19.2kbpd so roughly 5kbpd less Kraken production. Now for Magnus, our 25% share is roughly c.3.7kbpd in terms of CF. Out of the remaining 75% - c. 11.5kbpd for CF purposes is shared 50:50 with BP. Hence on net CF basis for us it would be 50% of this 11.5kbpd = 5.75kbpd. So Magnus excercise has got us only 5.7kbpd with regards to CF ?? So does this mean in terms of Cash Flow 5kbpd of Magnus gain is nullified by the 5kbpd loss of Kraken share to OZ with regards to cash flow? So even though the headline prodution number might be higher we have not gained any new production on net basis for cash flow? Have i misunderstood something? Obviousy, above it assumes Magnus 15kbpd production and Kraken at 35kbpd but does the above make sense? Cheers
rationaleee
10/10/2018
08:49
I guess some may see that, but it doesn't make sense IMO. I guess a lot of people are still forgetting that the alternative to taking up the rights is selling them or letting them lapse, for which you'd receive payment. It's currently about 12.5p per right. If you take up the rights you forefeit that money. Therefore the full cost of taking up your rights may be as much or more than you get from selling your shares to fund them! Rights issues are a blag to con the unwary IMO!
typo56
10/10/2018
08:23
I can see some thinking - no point keeping the shares now I have the rights... but I need cash to fund them.. and better to sell fewer shares, than have to sell more of the rights... bwtfdik....
steve73
10/10/2018
08:06
Selling to fund rights? That sounds crazy. I can't see the point.
typo56
10/10/2018
03:58
Looks like peeps are selling to fund their rights, which is driving the price down. Meanwhile Kraken soon to be offloading another cargo, which suggests an improving production rate of around 40kb/d.
steve73
09/10/2018
09:02
what sort of production do these produce?
upwego
08/10/2018
20:20
Without the rights looks like no one wants buy. 5% drop on a volume of around 1mn shares says it all. What is going to get some positive momentum with sustained volumes...a bit more simple and easy to understand capital structure to begin with
rationaleee
08/10/2018
11:29
Trading the NP's seems worthwhile.. 1p movement of the share (c. 3%) leads to a 1p move of the NPs.. where it's almost a 10% move...
steve73
08/10/2018
10:25
Cheaper than the rights. Fill boots time coming.
mreasygoing
08/10/2018
08:44
Yes - A 12 day gap between offloads. (Last offload 28th September) Excellent news.
american idiot
08/10/2018
08:02
Amundsen Spirit to Kraken, ETA 10th midnight...is that 12 days gap, the first i've seen?
rationaleee
05/10/2018
09:40
TERP was 34.82p on a Brent oil price of $85. Brent is falling a bit now so I'm looking for a dip in the share price soon.
american idiot
05/10/2018
03:57
So if I understand the Magnus deal correctly, the net cash flow from the 75% portion is to be backdated to 1 Jan 2017... although 50% of this is for BP (until they've received $1Bn) and the remaining NCF must be used to reduce the remaining $200MM loan from BP (so we get nothing for the 75% until the loan is paid off). By my estimation (based on $80 oil from here), we will have already paid off almost half of $200MM loan from BP by end of this year, with the balance by mid 2020. Thereafter BP keep receiving 50% of the NCF until the $1Bn figure is reached (which could take around 7-8 years longer depending on how successful our infill drilling is, well declines rates, oil price, etc.) From ENQ's 50% share of NCF, we will be NPV breakeven (on the $100MM loan) around a year after the $200MM Loan is paid off, and when BP have their 1Bn, we will have accumulated around $350MM (on an NPV10 basis), with perhaps a further $150MM by the time the reserves are fully extracted.
steve73
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