Enquest Share Discussion Threads

[bomfin] 27/5/2021 16:12

1.7 billion shares in issue

[stansmith3] 27/5/2021 12:06

bomfingiven your comment about the 50million being 3p share, i can now see the issuethat is not how enquest is valued and it may account for your figures appearing optimistic good luck with your investment

[bomfin] 27/5/2021 10:51

Did not think anything different heialex1. Thanks

[heialex1] 27/5/2021 09:15

In case it came across in any other way, I was being genuine in thanking you.I agree ENQ is fundamentally under valued (clearly the whole sector is hugely out of favour in general) and believe that at some point it will re-rate considerably as the debt continues to come down

[bomfin] 27/5/2021 07:38

You are welcome. I do not short. Never have. I do not assist destroying value or companies. Shorters can destroy a company and put people out of work. When I find a value share I just seek to share the news. That is all. Energy voice have an article saying Enquest paid £42.4 million for the Enquest Producer. If you search £42.4 million and Enquest Producer you will see the link to it. You won`t be able to read the article without taking a subscription though.

The point of the research being that one reason Enquest is still undervalued is the debt figure which I believe they are eating into. Any saleable assets clearly help with that debt figure also.

[heialex1] 27/5/2021 00:03

Thanks for the research and view

[bomfin] 26/5/2021 20:17

Answering my own question. This references the buy price of the Enquest Producer in 2012. (On January 25, 2012 the FPSO Uisge Gorm was sold for an amount of U.S.$52.5 million, which resulted in a
profit of U.S.$12.4 million). The profit from sale is included under Other Income in the consolidated statement of
profit or loss and other comprehensive income. Cut and paste and search the text inside the brackets to find the source.

It then had topside modifications, I believe these were expensive and added value to the fpso in terms of having all equipment added necessery for it to produce oil from Alma/Galia. In general the price of oil tankers has been rising. The Enquest Producer is originally a 100,000 barrel oil tanker. Hence I am valuing it at £50 million or very nearly 3p/share.

[steelwatch] 26/5/2021 09:31

Cheers laser.

[laserdisc] 26/5/2021 09:15

Altera wind now to Kracken for a trial hook up tanker lower greenhouse gas footprint
edit in port for 5hrs which seems to be norm

[bomfin] 26/5/2021 08:10

Anyone know the value of the Enquest Producer ?

hxxps://www.energyvoice.com/oilandgas/north-sea/310435/significant-interest-enquest-vessel/

[ammu12] 24/5/2021 15:36

Brent almost 68

[bomfin] 24/5/2021 14:02

Enquest owns one of these.

[bomfin] 24/5/2021 13:47

Thanks. I wish I knew. It could even be better than I suggest if they gave hedged forward into 2022. I'd be surprised if they havn't

[eringael] 24/5/2021 13:31

Hi bomfin, great posts and makes sense - in your opinion why are we stuck below 17p given your thoughts on the value here

[bomfin] 24/5/2021 12:31

So, adding to this post from 22nd May.

By my calculations the above hedging is worth 13p/share. in the first 4 months they made 1p/share off every 12 days of production which = 10p/share. So, 23p/share better off than they were at start of the year whilst the share price is 5p/share better. As I said. Weakness is our friend as in my case I will dribble funds into Enquest in the knowledge they continue to make 1p/share every 12 days.

The other major change to the business this year, apart from end of production at Dons (which should see a lowering of the average production cost this year, is The Golden Eagle buy. Buying 26.69% of the GEAD. This deal is said to add $100 million of value at $50 a barrel. I believe that is a conservative estimate possibly to do with the buy offer and potential return on investment. Accepting it at face value though. GEAD will have already produced 1.5 million barrels net to Enquest`s share of production this year adding £10/barrel sold over and above $50/barrel. GEAD adds £85 million value which is turn is a further 5p/share making Enquest 28p/share better off than they were at the beginning of the year with a falling debt figure.

[ammu12] 24/5/2021 08:43

#OOTT | Goldman Sees Oil Hitting $80/Bbl Despite Likely Return Of Iran Supply - RTRS

[bomfin] 22/5/2021 23:55

By my calculations the above hedging is worth 13p/share. in the first 4 months they made 1p/share off every 12 days of production which = 10p/share. So, 23p/share better off than they were at start of the year whilst the share price is 5p/share better. As I said. Weakness is our friend as in my case I will dribble funds into Enquest in the knowledge they continue to make 1p/share every 12 days.

[ammu12] 22/5/2021 17:29

As at the end of April, c.6.2 MMbbls of production has been hedged with an average floor price of c.$63/bbl and an average ceiling price of c.$72/bbl.?

[onedb1] 21/5/2021 16:57

Brent up 3% now and Enquest closed up about 1.8% , that is poor. Had Brent fallen 3% we be 10% down. At any rate am optimistic for next week .

[ammu12] 21/5/2021 14:46

As at the end of April, c.6.2 MMbbls of production has been hedged with an average floor price of c.$63/bbl and an average ceiling price of c.$72/bbl."

[sbb1x] 21/5/2021 14:44

17s finally paid.. up she she goes

[sbb1x] 21/5/2021 14:41

Bid and ask slowly sneaking upwards

[sbb1x] 21/5/2021 13:02

Enquest chart looks like oil chart on 1 week.Hopefully oil back to 70$ now

[ammu12] 21/5/2021 11:27

Has to be the most undervalued oily on Ftse!!