Enquest Share Discussion Threads

[ashkv] 27/5/2022 11:49

Brent: $118.50
Shares Outstanding: 1,885,922,875
SP: 29.5
GBPUSD: 1.26
Production Guidance (Mid 44,000-51,000 for 2022): 47,500
Production Actual to End April 2022: 50,361
Net Debt (USD): $1,090,000,000
Market Cap (GBP): £556,347,248
Market Cap (USD): $700,997,533
ENTERPRISE VALUE (USD): $1,790,997,533
EV/Barrel(USD) Guidance 2022: $37,705
EV/Barrel(USD) Average Production to End April 2022: $35,563

[heialex1] 27/5/2022 11:34

So 70m GBP potential extra tax leads to almost a quarter of market cap... that doesn't make sense... people getting mugged here

[scaff55] 27/5/2022 10:39

EnQuest, which ended Thursday's session 7% down, dropped a further 9% on Friday morning to lows last seen in late March. It is expected to pay an extra $14 million this year and $73 million next year, Jefferies said.

[heialex1] 27/5/2022 10:31

MaybeAlthough already lost more than 20%, so might be in the price....Might even be worth topping up at some point if one assumes price or oil stays around these levels for an extended period.

[heialex1] 27/5/2022 10:30

When the government realises they've targeted the wrong companies (ie small ones not large ones) it will be interesting to see how they implement or amend this stupid levy

[wolfofhounslow] 27/5/2022 10:03

Can see further weakness here unfortunately

[heialex1] 27/5/2022 08:56

YupFalling on low volume, so just some minor panic and traders taking advantage of it

[scaff55] 27/5/2022 08:55

I can see a RNS coming to explain what it means to them ? And then it will turn.

[money mad] 27/5/2022 08:45

Won't be paying corporation tax for a long time and our investments in Uk will limit the 25 percent tax . Stop scaremongering . We are already well undervalued . This is a speed bump as people get scared and sell caused by people like you

[heialex1] 27/5/2022 08:44

The levy sucks, but it does seem an over reaction... admittedly, I haven't done the numbers. I think ENQ were over valued to begin with, and I presume they can find ways to mitigate.Going back to the main point, the government has found a way to penalise small companies trying to keep the North Sea basin alive... astounding

[scaff55] 27/5/2022 08:42

Away well over sold they will have many ways to invest this money back into the company, l believe they get 91p back for every pound invested

[deanmatlazin] 27/5/2022 08:41

8m barrel hedge at $76/barrel this year. take 25% off on top corporate tax 17%, ENQ will be knackered!

[deanmatlazin] 27/5/2022 08:23

No dividend, i cant see they can pay the debt off quickly too. What a shamble!

[dickiehhh] 26/5/2022 21:45

Hmm... the windfall tax lasts only to end 2025 at the latest. So will deferred "windfall" taxes be paid or not?

[heialex1] 26/5/2022 18:52

Yup.As I said, this government doesn't know what it's doing... grifters and charlatans; only looking out for themselves, their pals, and their egos...And unless I've missed something, I am surprised that this has hit ENQ so much harder than others. I presume this tax is aiming at the super majors... Good time for them to bring forward investment I guess...

[scbscb] 26/5/2022 18:08

The 90% relief for investment is only a deferral of the tax, because the investment should produce a profit at a later date, and this will be taxed at the new. Any company that invests in the UK North Sea must be mad as there is no certainty over future tax rates, like a third world country. Much better to invest a country with stable rules and tax rate, e.g. US and Canada.

[grahamg8] 26/5/2022 17:28

Well I thought BP rather relied on Russia for its oil. And anyway isn't it a tax on profits. That's on Company profits, so it doesn't matter a hoot where the oil comes from. It is all going to be taxed. 90% relief for investment, now that is a massive U turn on environmental policy.

[thegreatgeraldo] 26/5/2022 16:31

RichardBroughton26 May '22 - 16:21 - 12624 of 12624
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Why does ENQ get hammered and BP doesn't ?

...BP doesn't rely on the UK for around 90% of output?

[richardbroughton] 26/5/2022 16:21

What are normal prices for POO? It's been between $15 and $130 in last few years, ridiculous.
Why does ENQ get hammered and BP doesn't ? Also this tax has been well flagged, would have thought in oiler share price for a few days?

[urchin1] 26/5/2022 15:59

Government should set a retrospective profits tax on that company who was paid 37Biillion to right the Mobile App for Covid Track & Trace!

[wolfofhounslow] 26/5/2022 14:05

U.K. Treasury Chief on Thursday outlined a new 25% tax on the profits of oil-and-gas companies.Rishi Sunak told the House of Commons that this is a temporary levy which will raise around 5 billion pounds ($6.29 billion) over the next year, and will be used to fund subsidies for households.The tax will be phased out when oil and gas prices return to historically normal levels, Mr. Sunak said.