Enquest Share Discussion Threads

[colebrooke] 23/5/2019 09:07

Loan payments first then net debt.

[andypop1] 23/5/2019 09:07

The dog bit me this time, took the hit and sold.
Good luck all.

[kinwah] 23/5/2019 08:43

You guys have hit the nail on the head. The market is disappointed with the debt reduction and worried about the fall in available cash and bank facilities despite lots of positives on production. If cash performance is this poor while things are going well what happens if production hits a problem? Hence the market is worried about the possible need to raise money (placing/rights) to give the company more breathing space. My own view is that the BOD will be nervous about the debt but will be looking at selling the Malaysian assets or taking on more decommissioning liabilities before looking to raise equity.

[leoneobull] 23/5/2019 08:41

From lseepiphany1211,460 postsRE: May Ops UpdateThis is in-line with my expectations. I didn't expect any miracles, but steady performance and that's exactly what we got. There were no mis-steps and as NSeaOG just stated, the overall net debt reduction needs to be viewed in the context of the favourable working capital movements that had to wound down in Q1 19. I don't understand why there was larger net debt reduction expected by some on here, particularly in light of the commentary we had in the AR around this very wind down.It's good that ENQ is listening to the market (and us) and is layering on hedges. Production at Kraken is improving and hopefully, will continue to do so. The major debt reduction will be in H2 as is typically the norm. We'll continue to ask for better hedging

[leoneobull] 23/5/2019 08:30

Production is significantly improved and the so goes down. Wait until the anaysts upgrade:-)

[stupmy] 23/5/2019 08:18

Update was good, I'm hoping that the drop represents a back test of a tl break and that it will reverse from here. I think we'll end the day higher than the open, but it's not what I was hoping for at all (and my hopes are quite modest)

[catsick] 23/5/2019 08:16

I thought the update was ok, the bonds are higher but the stock is hammered, very odd ....

[stansmith3] 23/5/2019 08:15

Not impressed, depletion faster than debt repayment.Struggling to fit TA into this, perhaps the deuchbag, the gaslighter or stumpy can help?

[leoneobull] 23/5/2019 08:07

Decent results. Fcf h2

[deanroberthunt] 23/5/2019 08:07

ok so event 1 was a disappointment, event 2 won't be, off for a Dizzy Blonde, then to the polling station....Brexit Party!

[ammu12] 23/5/2019 08:05

Wow I reckon another broker update coming ....

[ammu12] 23/5/2019 08:05

Selling ....

[ammu12] 23/5/2019 08:03

I guess the market doesn't like it

[stupmy] 23/5/2019 08:02

Well so far, the share price response makes no sense at all to me! Down a smidge! You couldn't make it up. I think that will change over the day

[deanroberthunt] 23/5/2019 08:02

missed nowt down 7%

[stupmy] 23/5/2019 07:59

Thanks onedb1, I have my plan for the day and will stick with it. US markets also coming off. I suspect the rise in share price will come, but will be limited by spot oil price/concerns in US indices (US500 is the one i follow most). Risk of double top on that. I'll rationalise today.

[svenice7] 23/5/2019 07:56

You just missed the boat, I'm afraid

[svenice7] 23/5/2019 07:56

Very good update.The debt is gonna chunk off a-lot quicker.

[deanroberthunt] 23/5/2019 07:54

wasn't a patch on the PMO update.

[onedb1] 23/5/2019 07:53

Stumpy FYI : EIA numbers were high due to high imports and lower refinery utilisation - an ongoing issue . If one looks at the July - August Brent spread it shows a significant 92cents spread . To me that is high historically and indicates tight supplies . April and May on a 30 seasonal view historically show Brent go sideways as we have seen this year to then resume in latter part of May and rise till October . Obviously not all years follow this pattern but most do . Also 5 and 10 year views are a bit different . So a blend is needed . Am happy with the update . Clearly a H2 with these Brent levels will deliver a lot of Free Cash Flow as they front loaded debt repayment and seem to beat the deadlines . The rest seems all very positive to me . Market sentiment will dominate but I feel happy regardless . Still averaged at 20.25 . All the best

[american idiot] 23/5/2019 07:44

Not quite the update I was looking for.

Kraken production not as high as I expected in March and April but still heading in the right direction.

Production towards the top end of guidance despite scheduled maintenance at Magnus during May = Good.

Debt reduction of only $50m looks disappointing on first glance but we have to remember Kraken production was very very poor in Jan and Feb and also Brent was in the $50's during that time so although we were approx 50% hedged in Q1 the overall price for production would have only been around $60.

Will share more views a little later after the markets open.

[deanroberthunt] 23/5/2019 07:35

So another $100m scheduled to be paid in October, so yr end debt will be $1.624bn.
It just seems very slow, leaving the equity exposed to a downturn in POO.