Enquest Share Discussion Threads

[sbb1x] 21/5/2021 11:12

Brent bounced well off 64.57$ now 65.83$ come on get back to 70$

[sbb1x] 21/5/2021 11:01

Brent now moving up can see enquest getting back into the 17s soon

[bomfin] 19/5/2021 07:13

Anyone know how much Enquest clears on the Malaysian production ?

[bomfin] 19/5/2021 06:59

With Brent under a little pressure here are some pretty well known knowns. Until end April UK production was around 41,000 bopd. That is 120 days production at average oil price $60/barrel. Costs $15/barrel. Taking exchange of 1.4 $ to the £ and because of tax credits they are clearing £32/barrel. So 139 days into the year at those prices and production gives £182 million cash flow. Add to that 6.2 million barrels hedged forward at average $65/barrel and that is a further £217 million. That is £400 million guaranteed cash flow this year with all the revenues on production over those hedged quantities to come. Market cap still £300 million. Weakness in the price is your friend.

[bomfin] 18/5/2021 14:22

Yes Ammu. I was waiting for the placing before buying but the buy of the GEAD no longer needs a placing to placate the banks. It will be half paid for by cash flow at the time the deal closes imho.

[ammu12] 18/5/2021 14:02

Reckon it will rise before I.e once refinance deal is close to completion obviously the pi will be the last one to know....It's a gift at current prices....BUY

[bomfin] 18/5/2021 13:51

Using a simple bar chart. Take the debt at £900 million at start of year and the market cap at around £300 million then and now. Your bar chart has 1/4 market cap and 3/4 debt. The market values the business at £1.2 Billion pounds. At time of next results(sometimes early September it will become obvious that the debt figure is down to £600 million. Use the same bar chart with a total value of £1.2 Billion pounds. Debt is now £600 million. It is not the same business. It is now a better business. A business with a deal which added $100 million value at $50 oil price the GEAD buy and oil prices are $70/barrel and not $50/barrel. Market cap should at least respond and fill in the bar chart with a £600 million market cap. A simple way by which this should double in share price by 1st half results announcement sometime early September.

[ammu12] 18/5/2021 11:30

Nice 250k buy

[steelwatch] 18/5/2021 07:44

Cargo dispatched yesterday ATD: 2021-05-17 19:25 LT (UTC +1), so 14 days again.

[bomfin] 17/5/2021 08:06

Thanks Stan. Good luck to all holders.

[stansmith3] 17/5/2021 08:02

cant say fairer than that, normally all we get from onedb and master gaslighter is retro tradinggood luck

[bomfin] 17/5/2021 07:26

No doubt Enquest were in big trouble. What they did cutting costs last year and the recovery in the oil price has saved them. Credit to them for the amazing reduction in costs. The oil price is unpredictable. If we could all predict the oil price we would be off on our mega yachts somewhere. Hedging forward does guarantee future income. If you are able to do that when oil prices are relatively strong then Yes the price you will receive for your oil is predictable for a time period. I think there are a few good news items to come through that are relatively hidden. How quickly the Golden Eagle buy is paying for itself is going to be a highlight of the 1st half results I think. Then there is the reduction in costs for 2020 down to $15/barrel. Some of those assets were producing last year. Alma/Galia until mid year for example. Further reduction in costs is possible. Golden Eagle has had 4 new wells drilled. The 10,000 boepd guesstimate for production could be conservative for 2021. What we can predict on income after costs for 9 million barrels hedged is around £300 million. Add to that the rest of produced oil which they have been selling at good prices also. I don`t usually tip but I am buying when the market opens to add to my first buy last week.

[stansmith3] 17/5/2021 04:48

ammu9 / multi avatar posterdo keep up, reading the balance sheet and trying to convey the risks to this board is how i outed onedb and the other silly bulls who hadnt read themi was also the first person to mention the depletion issue, which enquest addressed in a very expensive mannerhappy to clear that up for you

[bomfin] 16/5/2021 22:57

Yes. The balance sheet will be looking transformed with as much as £400 million shaved off debt by end of the year. They could hedge forward into 2022 and almost guarantee paying off the debt by end next year making a £300 million market cap look absolutely ridiculous.

[ammu9] 16/5/2021 22:39

Try posting something meanigful Stanley dear !
Rather than just silly comments of one sentence. You like picking on people for fun, don't you dear !
Can you read a balance sheet Stan? Let me guess, you just see numbers, don't you dear.
Give us your thoughts and observations on Enqests balance sheet Stan. Come on show us you have a brain cell or two !

[bomfin] 16/5/2021 08:33

Yes Ammu9, This company has turned a corner. A year ago I was in the `This could be going bust camp` Even 6 months ago. The now 136 days of this year at an average oil price of over $60 a barrel with a further 6.2 million barrels hedged at prices over $60 a barrel means it shall be upwards and onwards for Enquest. Also buying production which shall almost have paid for itself by end September was supreme timing. From bust to boom.

[stansmith3] 15/5/2021 21:11

IF POO....blah blahsure i have that story around here before

[ammu9] 15/5/2021 11:52

I am confident that at the End of Sept we will see a very different market sentiment for our equity !
1) The GE deal and re-financing should have completed. The re-finacing is key to market sentiment.
2) Our production will increase by 10k bpd.
3) IF POO goes over $70, or even $80 in the summer our revenue and fcf will be huge on circa 60k bpd.
4) Our half year results will be out showing a much more exciting balance sheet with a higher NAV.

Until then we will float around 17p, 18p or possibly 20p if POO makes an early move North !

[bomfin] 15/5/2021 09:23

Anyone know the carrying value of the Enquest Producer ? in the accounts. I notice Beisu said there are more than a handful of options for reuse. Hmmm. I thought that was an interesting choice of words but still, I`m guessing there is something on the horizon.

[steelwatch] 14/5/2021 09:16

Next Kraken offload booked:

[sbb1x] 12/5/2021 20:46

Peak demand? More like a supply crisis propelling oil to US$100 https://t.co/ZwXsQ6ENot https://t.co/UbIubooB3w

[sbb1x] 12/5/2021 16:36

Closed 17.74p at least we closed green.

[sbb1x] 12/5/2021 16:09

It don't make a difference to any oil stocks. One day they will all do 30% rise in a week.