Shotry
23 Nov 2018
Brent down again Well, we’re finally following PMO down with crude. I have an area of support at 22.5 (we’re pretty much there now) to 21.5. A close below that on the weekly chart would be a big worry.
hitman1
23 Nov 2018
Brent down again I was told a few weeks ago to expect a Nov ops update with the usual details… Key Point; 2019 hedging price.( if any made). I know Brent is now $61, but the last 5 weeks of 2018 shouldn’t affect the 2H average price that much. Average Production to 30 October 2018 Net debt . easy to forget that this is after deducting cash/ and cash equivalents… so the real debt is higher…
gk10
23 Nov 2018
Out again Good luck
gk10
23 Nov 2018
Brent down again 30th November last year but it is not a regulatory requirement. If they choose not to give a Q3 update then January.
Shotry
23 Nov 2018
Brent down again When do they report gk10?
gk10
23 Nov 2018
Brent down again Shortry, PMO is no surprise when you compare the share price and oil price to a year ago, you could even argue that the 66.65p target is, to a degree, worthless now given the impact of the additional shares on the mcap. You could argue the same here but this has recently secured funds (albeit overly complicated) and added a valuable asset to the books. PMO has recently reported to the market that without asset sales and issuing additional shares through the conversion of bonds it is struggling to make an impact on its debt pile even at the recent high oil prices. Will EnQuest’s report be favourable? We’ll find out soon.
Shotry
23 Nov 2018
Brent down again It’s holding better than some, so is Ophir. I guess Ophir is a little different as it doesn’t carry huge debt. I’m a little surprised that ENQ isn’t dropping like PMO though. On PMO there is a possible support at 66/67 which is the rising tl support on the weekly chart. Those interested in PMO might be tempted to buy around those levels.
gk10
23 Nov 2018
Brent down again It’s still early but so far EnQuest is defying gravity. That’s something rarely see here, not that I am complaining.
gk10
21 Nov 2018
Back in Hit man, I’m sure in the not too distant future both yours and the director’s buy will look like a steal. It’s what the share price does between now and then that matters more to me. I took a little heart from the bounce off circa 22.7p again today, the third time and that is despite the oil price dropping another couple of dollars or so since the first bounce, could the $66 mark have anything to do with that? Who knows. I’m looking for a bit more than 3% this time but then I was last week! These crazy daily Brent swings are making it all a bit of a gamble and guessing game, it all adds to the fun. Good luck tomorrow.
hitman1
21 Nov 2018
Back in Well done again… Moody’s have already tested the 2019 numbers , so even the annual deleveraging should add 20p. , but lets say only 1p/mth… so target 34p… with Brent staying at $65 and 65k production for 2019. Yesterday’s purchase at 23.98p was more symbolic… I just had to have some below the last Director buy of 26.1 which I thought was exceptional at the time…
gk10
21 Nov 2018
Back in Good luck all.
gk10
20 Nov 2018
I'm out Good luck with your buy, EnQuest faired better than some today. I’m a little surprised you took a few today given what you posted yesterday. In my opinion this oil price drop was somewhat telegraphed.
hitman1
20 Nov 2018
I'm out With so many people exiting the FAANG stocks, Bticoin declining, long contracts on oil throwing in the towel, momentum trading and general trade issues, WTi sub $55 puts US producers just under breakeven on average… By the time the new pipelines are built, more production would have come on, decreasing the price of all the market, not just the excess…albeit some grades more than others. Canadian problem coming to US soon or has it already started. They will have a reduced amount of working capital to work with next year… I do feel like Wall Street is bullying OPEC into cuts to make room for extra US production… Feels like this will happen every 2 years. so looking forward to natural declines biting very harshly in the years ahead…
hitman1
20 Nov 2018
I'm out Bought a little more at 23.95 today, I know the OPs update is due by end of Nov, and believe the positive report will get this to 26.5p. Apple has stopped releasing some unit data on phones because they know the growth is declining… Enquest perhaps now things are rosier will release more info going forward as the cashflow is more positive… but they will still have issues with all sites… just like others. 2019: 70k average production at Brent $70 plus
gk10
19 Nov 2018
I'm out Hitman, Probably wise to wait. I’ll let you know when I buy back. Good luck.
