Enwell Energy Share Discussion Threads

[book5] 01/10/2022 11:26

This will ENd-Well

[vk1971] 30/9/2022 12:58

Almost $30m left to be paid. so keeping in mind that capex for major drilling has been accounted for that will leave more than $100m in cash which is in line with Arden's estimate for 2022 full year cash of $136m. this will leave the net cash value at the end of 2022 of almost 40p. having in mind that they also increased production to above 3000 boed (+another 500 boed when they restart VAS soon)this is completely undervalued. even the risk is lowered due to recent successes by the Ukrainian army

[34adsaddsa] 30/9/2022 12:01

The receivables are owed by LLC Smart Energy which I assume is related to the Smart Holding Group which is owned by our resident oligarch.

"Since the period end, $7.1 million of those trade receivables has been paid, and the balance is expected to be fully received in the near term."

Our oligarch condemned the invasion, is a Ukrainian citizen and stayed in Ukraine after the invasion.

I don't share your worries at all.

[tigerbythetail] 30/9/2022 07:53

So a pile-up of paper debts, given the static cash position. Are the debts collectible?
Also, I worry about the ownership structure here. Not only does our resident oligarch own all but 90% of the company (dangerous), but he has a strongly pro-Russian past (even more dangerous). How is that going to play out if and when the war ends and the assets are still in Ukraine?
For me, too much risk.

[moreearl] 27/9/2022 11:24

Bit early for a re-rate! This is still in a war zone, just need patience on this

[farrugia] 12/9/2022 10:00

At 30 June 2022, the Company's cash resources were approximately $77.6 million, comprised of $18.6 million equivalent in Ukrainian Hryvnia and the balance of $59.0 million equivalent in a combination of US Dollars, Pounds Sterling and Euros, and at 6 July 2022, were approximately $83.8 million, comprised of $24.9 million equivalent in Ukrainian Hryvnia and the balance of $58.9 million equivalent in a combination of US Dollars, Pounds Sterling and Euros.

read that again - see how cash is increasing - the company is still trading at cash levels...

[farrugia] 12/9/2022 09:49

yes good initial movement.

[officerdigby] 12/9/2022 09:44

...I'll answer my own question.Yessah!

[officerdigby] 11/9/2022 09:04

The Ukraine advancement moves ENW gas fields much further from Ruskkie occupation line. Derisks field development IMO.Time to accelerate the flow rates for the winter, IMO.Rerate, soon?

[officerdigby] 03/7/2022 22:41

The kremenchuk (or whatever) bombing was the nearest city to ENWs HQs so that risk is added after a period of being in a relatively quiet region.

[maloneyt] 01/7/2022 13:03

Excellent results and massive % increases all around, also with the possibility of a dividend payment to shareholders. That's more like it ENW

[farrugia] 29/6/2022 08:25

that's an excellent update - i added. cash now exceed market cap?

[maloneyt] 07/6/2022 12:36

Good rise today, I wonder why. May it continues........

[officerdigby] 08/5/2022 09:18

There were two wells that have had issues that they hoped to fix. They were big producers (at least one was).If they can deal with the water issue on these it would be >>5kbopd.Then there is then VAS field hasn't started up again.And the prospective SV.

[vk1971] 07/5/2022 23:20

the point is they are currently valued at $10M above the cash that they have. so their current production of 3,150 boed is valued at $10M which is crazy regardless of war unless something drastically changes in the field but as for now frontline seems far from their key assets. also I would say that cash pile must be drastically increasing every day as big capital cost for drilling new wells (all of them completed or being tested now) which impacted cash level in last update is done now plus of course huge gas prices. they stopped other wells but wonder what they achieved with SV 29 which was due before the SV 31 well

[officerdigby] 07/5/2022 16:12

I would say in normal times and considering the cost this would be a par.But for now it is smashing the ball out if the park! Hopefully the war won't escalate to their region or their pipeline facilities attacked..Ukrainian gas price is significant premium to TTF. So even withe the 20% given away cheap > 3100kbopd plus what ever is coming can they fix SV-2 in this environment? Some much else was in the pipeline. That could be restarted with peace.Not sure where this war leave Novynskyi.He has already lost big with Metainvest in the nkw world famous Azovstal!

[vk1971] 04/5/2022 12:31

excellent well result at any time but even better at todays oil and gas prices. share price should react as Ukraine situation ahs been priced in

[vk1971] 19/4/2022 19:24

well they reported a pause in all the drilling and testing but have actually further increased the production from 1,600 to 2,500 boed. Keeping in mind the situation and the fact that during initial part of Russian aggression they completely stopped the production, well done to them to be able to produce at these levels

[bocarugga85] 07/4/2022 08:00

I doubt there would have been much going on at all over the last quarter - I expect most of their operations team would have been more concerned with operating missile launchers than gas fields. Or they've legged it out the country.

[vk1971] 07/4/2022 00:38

Quarterly operations update is due in next few days. probably next week. Would be interesting to see what is happening with the production and if the overall situation has improved around their acreage. Also, would be good if they give an update on progress/testing on all those wells that were completed

[dimknaf] 19/3/2022 10:39

When I wrote the article about Enwell and JKX on my blog a few months ago, I thought political shift would be a risk. Then with Russia amassing troops, I worried for a limited war that would either lead to the overthrow of the government, and less for the risk of territory loss that would include Enwell's facilities.

But a full scale attack didn't seem reasonable to me. When it happened I was pretty sure that Ukrainians will not surrender. Unless if the leadership gave up, or caught by surprise.

I believe that a main factor for this resistance is that people there know how an authoritarian regime looks like, and they would prefer to die than live under a new iron wall. So, if you are in this position you either leave, or fight to death.

So, the attack from Russia surprised me (I thought would be only in the east), but the scale of resistance not.

Anyway, for Enwell the only secure value is the cash staying in the balance sheet of the parent company in the UK. The rest is a big gamble.