Enquest Share Discussion Threads

[bomfin] 22/6/2021 07:31

Yes, I was asking for any other tips and it just might be that hbr could be bottoming out. They must be raking in the cash and smashing that debt figure during the last couple of months.

[heialex1] 22/6/2021 03:33

Interesting interview with Jeff Currie. He's been calling oil higher for months now and sees much more upside. Oil equities still lagging price of oil quite significantly.https://youtu.be/Tk2cAuSt6jY

[bomfin] 22/6/2021 00:27

That`s good Stan. I can`t see anything worth investing in at present other than Enquest which I understand to be very undervalued. I`ve said this a few times but if anyone can show me something with better value then please do.

[stansmith3] 21/6/2021 21:42

well my pf at all time highs despite my best attempts to thwart it, sure its the same for most other people who got out on the covid slide and bought back q3/q4....

[bomfin] 21/6/2021 17:29

A voice crying in the wilderness looking for the land of milk and honey.

[stansmith3] 21/6/2021 16:58

youre welcome lol

[bomfin] 21/6/2021 16:44

I`m in till 50p and will reassess then. Thanks for asking Stan.

[stansmith3] 21/6/2021 16:44

good day today, where is everybody?

[bomfin] 18/6/2021 17:15

The longer it hovers the bigger the opportunity. When the placing clears I believe this shall motor. Swift rerating.

[ammu12] 17/6/2021 13:07

Yes equity raise is keeping the lid on the rise

[heialex1] 17/6/2021 11:26

Let's get this acquisition and equity raise out of the way and then hopefully this can re-rate properly. As with so many in the oil space, strikes me as fundamentally under values considering the outlook for oil prices.

[bomfin] 17/6/2021 10:08

More on the infill drilling at GEAD. My understanding of the presentations about this asset buy is that 5 million of the P2 reserves of 18 million bo was dependent on these 4 successful infill wells. Meaning that each well has potential to produce just short of 5 million barrels. Enquest share just over 1/4. Each well cost will most likely be somewhere between £10 million and £20 million. I think towards the lower end as there are a lot of rigs stacked at present. If the well cost is £10 million and it gives reserves which will return nearly £200 million at current oil prices they should be peppering this field with wells unless of course they are already up somewhere near capacity ? Enquests share of the 5 million barrels from these 4 wells worth over £200 million at current oil prices. They did of course also beat expectations and were within costs.

[harry rags] 16/6/2021 16:31

$75 barrel

[bomfin] 16/6/2021 15:55

Sounds like more reservoir to me.

[bomfin] 16/6/2021 14:01

It was this paragraph from ammu12's post that suggests reserves upgrades at Golden Eagle

The four wells, which are located in the central area of the field, exceeded subsurface expectations and have added significant, immediate production, it said

Interested to hear others interpretations.

[steelwatch] 16/6/2021 12:14

Confirmed ATD: 2021-06-16 10:01 LT (UTC +1)

[ammu12] 16/6/2021 10:47

Yes placing happening defo

[bomfin] 16/6/2021 10:23

Thanks Lonhro

[lonrho] 16/6/2021 10:10

apparently the chairman has confirmed in an e mail reply that there will be a placing. Its on the LSE board.

[bomfin] 16/6/2021 10:06

Re likely placing and possible placing price.

I think there will be a placing. Not more than $50 million. No advantage to the CEO in making the price cheap. He already holds 10%. A cheap price will mean a higher uptake meaning less extra shares for him to buy up. He will already know Enquest are cheap at current share price. More in it for him to get the price going upwards as he already holds 10% imho.

[bricklayer] 16/6/2021 08:20

If deal completes end 3rd quarter price will be a third lower due to extra production and higher oil price and be recouped within 12 months from then. Like buying a new house off plan and house prices boom in the mean time.

[bomfin] 16/6/2021 07:50

I would also suggest that possibly Cnooc made this information known ahead of Enquest releasing their prospectus. If not they may have said nothing. So prospectus soon ?

[bomfin] 16/6/2021 07:24

Heialex1, Ammu12 posted news from Cnooc which they released yesterday. My comment about 3 wells being in production at higher than expected rates is from the March 25th results presentation. Cnooc confirmed yesterday that all 4 wells were on production with better than expected results with Cnooc`s wording suggesting possible reserves additions. imho