Enquest Share Discussion Threads

[andypop1] 10/3/2019 22:17

One dB,
You do make me laugh!

"not seeing much value in this short and closing"

They are realising the value of their short and taking the cash.

Who can blame them as they crossed the 0.5% threshold in August on this particular trade.

So using your same theory is it a bad omen for PMO that a new player showed their hand last week?

[onedb1] 10/3/2019 19:13

Further reduction of the small short from Marshall and Wace . Now at 0.77% , great stuff ! One of the biggest and best hedge funds ( walked passed it this morning ) not seeing much value in this short and closing . Am long same rationale as described already . MACD on the weekly cross ( its a position trade ) and lower end of the 2.5 year range ) roughly 18-40p ! Average at 22 and my call at 19.75 is 1.35p down so far but not at stop loss levels . Still long and happy to see a third week in a row of reducing rig counts in the US .

[jimarilo] 09/3/2019 21:32

Here is the latest Seapulse presentation. ENQ have first dibs on any discovery

First two wells (Wells 6,7)targeting Namibia this year and well 12 the following year

[steelwatch] 09/3/2019 12:11

Heather Knutsen en route to Scapa Flow STS2 anchorage. Looks likely to be a transfer to AFFINITY V already there.

[stansmith3] 08/3/2019 17:56

apologies to master rsi and onedeuchebag - i see whats happening, their charts are ok, brent is just falling again to december lows to get back in sync with enq

[steve73] 08/3/2019 14:44

Like everything in life.. availability is critical.. size is just a "nice to have".

[steelwatch] 08/3/2019 12:16

Thanks Steve. More a question of availability rather than size.

[exile] 08/3/2019 10:08

Is there anyone on this board who from the data regarding the draught of the vessel form when it arrived to when it departs can work out the value of the cargo to the nearest $ 1/2 million ? I know one vessel carries millions of $ just be nice to know roughly how many.

[exile] 08/3/2019 09:50

I will leave it to Steelwatch or Profittaker to post the links to confirm this.

Heather Knutsen is being filled to maximum capacity and she is going to take a full load

[sleveen] 08/3/2019 09:43

A large vessel explains the alleged delay between offloads.

[stansmith3] 08/3/2019 09:18

simple and stupid strategyif you followed him you would be well underwaterexceptional results might get you back to even...

[jotoha2] 08/3/2019 09:05

Follow the money , ignore the so called experts .

[stansmith3] 08/3/2019 08:56

based on what andy has said, what in particular is causing people to look forward to the enq results?

[leoneobull] 07/3/2019 18:12

My average is 21.75p. Will I ever see those heady levels again?

[american idiot] 07/3/2019 14:41

Profitaker,

Many thanks :-)

[profitaker] 07/3/2019 13:50

AI

"Magnus Acquisition and Rights Issue RNS dated 7 September 2018

I cannot see any reference to any interest on the loan in that RNS"




It's in the Competent Person’s Report section of the prospectus (page 182).

Annual interest rate of 7.5% and loan expected to be repaid over 5 years.

[american idiot] 07/3/2019 12:05

Steve,

Magnus Acquisition and Rights Issue RNS dated 7 September 2018

I cannot see any reference to any interest on the loan in that RNS.

Brent $66.9 and looking very bullish. Next stop $70 very welcome.

Courtesy of IG



Brent seeks to breakout

Descending highs since 22 February are about to be challenged here, as the Brent price tests trendline resistance around $66.50.

A breakout above here and then through $66.86 would mark a fresh bullish move. This view persists unless we see a drop below $64.60.

[profitaker] 07/3/2019 11:40

We pay interest on the vendor loan.

[profitaker] 07/3/2019 11:39

Steve

The Magnus deal cost $300m. $100m was paid in cash (funded by the rights issue), $100m would have already been repaid since the economic date of the deal (1st January 2017), leaving about $100m outstanding. IIRC the outstanding $100 is amortised over a 5 year period.

[steve73] 07/3/2019 11:38

thanks AI... Do we pay interest on the loan? ...I assume not on the 1bn..

[american idiot] 07/3/2019 11:32

The consideration for the exercise of the Magnus Option is $300 million (plus or minus customary adjustments) base consideration, and the entry into a cash flow sharing arrangement whereby EnQuest and BP share the net cash flow generated by the 75% Interests on a 50:50 basis (subject to a cap of $1 billion received by BP). $100 million of the base consideration, to be funded by the rights issue, will be payable in cash by EnQuest with the remainder funded as a non-recourse loan from BP and repaid out of net cash flow generated by the 75% Interests. The economic date of the Magnus Transaction is 1 January 2017 (the "Economic Date"). Therefore, on completion of the Magnus Transaction, cash flows from the 75% Interests since the Economic Date will be reclassified as accruing to EnQuest's account and reduce the base consideration and accordingly the amount of the BP vendor loan.

.....................

50% of the 75% of Magnus cash flow goes to Enquest which is then used to repay the non-recourse loan so no benefit other than to repay the BP loan. (Backdated to Jan 2017)