EnQuest Background
EnQuest PLC (www.enquest.com) is an independent oil and gas production and development company focused on the UK Continental Shelf . Its assets include the Thistle, Deveron, Heather, Broom, West Don and Don Southwest fields. Gaffney, Cline & Associates (GCA) certified that as at 1 January 2010, EnQuests assets had total net proved plus probably oil and NGL reserves of 80.5MMBbl. As at 1 January 2010, GCA has also net certified oil and gas best estimate (2C) contingent resources for individual assets. The aggregate of the oil 2C contingent resources on an unrisked basis is 67.5MMBbl, and of the gas contingent resources is 30.6Bcf .

On 6 April 2010, EnQuest was formed from the demerged UK North Sea assets of Petrofac Limited and Lundin Petroleum AB. EnQuest was admitted to trading on both the London Stock Exchange and the NASDAQ OMX Stockholm. On listing, EnQuest PLC went into the FTSE 250 index and OMX Nordix Index. Its assets include the Thistle, Deveron, Heather, Broom, West Don and Don Southwest fields. It has interests in 16 production licences covering 26 blocks or part blocks in the UKCS, of which 15 licenses are operated by EnQuest.

EnQuest believes that the UKCS represents a significant hydrocarbon basin in a low-risk region, which continues to benefit from an extensive installed infrastructure base and skilled labour. EnQuest believes that its assets offer material organic growth opportunities, driven by exploitation of current infrastructure on the UKCS and the development of low-risk near field opportunities, rather than exploitation of high-risk exploration opportunities.

EnQuest intends to deliver sustainable growth in shareholder value by focusing on exploiting its existing reserves, commercialising and developing discoveries, converting its significant contingent resources into reserves and pursuing selective acquisitions. EnQuest is focused on increasing production from its existing assets in its core hub areas. It believes that it has excellent operational, execution, subsurface and integration skills and it seeks to become the development partner of choice in the UKCS.

EnQuest believes that it has the technical skills, the operational scale and the financial strength to achieve its objectives and to take advantage of the production and development opportunities in the UKCS.

http://www.nasdaqomxnordic.com/aktier/shareinformation?Instrument=SSE75073

Similar here Al - not too bad and still managing to eke out a living - although a bit more conservative these days, with 90-95% 'invested' as opposed to traded.

19th August is a key date.

We expect to hear about Alma production (promised for "mid year", but nothing yet). Don't bet on it. ;)

Expect to hear that the Gadwall well has come in at very good rates indeed. Good news.

News from Alma may not be that good. Still nothing is the word on the street and that word is they are throwing everything at it so as not to disappoint the market yet again on this flagship development. Even if first oil is announced, do not expect things to continue, or at a great rate. The Enquest Producer is currently far from capable of driving all wells that have been ready to go for some time. Not good news.

Interesting week ahead.

Just to confirm I have no position either way at present.

Schroders plc go below 5%

KEEP an EYE
@ 28.75p ( 28.50 / 29p )

Oil prices spiking up and most shares prices has gone up by 3% to 7%, but this one is only 2%. Directors comment " EnQuest has responded well to the lower oil price environment, delivering a strong performance driven by production gains and cost reductions, both core areas of expertise, and by a well executed hedging programme. EnQuest now anticipates that 2016 full year unit opex will be in the low $30s/bbl."
Positive news today....EnQuest has confirmed first oil from the Alma/Galia development in blocks 30/24c and 30/25c respectively, 310km south-east of Aberdeen, in the Central North Sea. Production is via the EnQuest producer floating production, storage and offloading vessel ('FPSO').

An old article and never materialise on the up to ...42.50p or more

By Trends and Targets | Mon, 20th July 2015 - 22:13

ENQUEST (LSE:ENQ), is our next 'punt' share. As the chart shows, it's got a BLUE line and the price is threatening it. In the event of closure now above 42.5p, we're looking for movement to an initial 51.5p with secondary a longer term (presumably) 59p. While both numbers are fairly handy, the share risks a longer term issue as it really cannot be taken seriously until the price closes above the 'high' before the trend break.

The implication from this is it needs close above 61p before true recovery to a long term 77p becomes extremely probable. If we'd to guess, while our 59p thing makes sense, the share will probably stutter for a while just below the 61p level until either the market as a whole improves or the company issue positive news.

Of course, there's always a risk of it all going wrong as we can never be confident until a share actually closes above its downtrend. And even then, we're still wimps. In the next few days, we'd tend regard any spike upward at the open with extreme caution as invariably this is a harbinger of coming doom. For instance, we the market to spike it in the opening seconds to around 44p, this would easily give sufficient force for reversal to 36p initially with secondary 24p. Worse, until such time it actually closes above BLUE, it's trading in a zone with ultimate bottom of 9p. But if it starts trading intraday above 42.5p, we'd be inclined to take it pretty seriously.

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Has started well this morning and better yet this afternoon after the Oil price is spike up again this afternoon.

Down like most oils but what a chart from May.

Was 60p in May.

The silence is deafening, isn't it? :)

If they were not connected with PFC they may well go under the way oilers are these days.

Stan - odds on they go under if oil stays this low? Massive funding required once the hedging ends this year. It was, after all, the smartest thing they've done (probably) ever!! Things ain't good is the word on the street.

Forgot to say, I'm still trying to figure out whether it's good or bad the CEO has such a large stake. Does it colour your judgement? It's a conundrum.

A big holding by one person I usually think is bad B/A but it's arguably the PFC connection that underpins it.. in theory.

These did interest me when they were listed but that's in the past now and I don't hold.

Indecently Swedbank Robur Fonder AB go below 5% today http://www.moneyam.com/action/news/showArticle?id=5205499

Layoffs announced last week, Alma still struggling to give meaningful payback. The bad news is endless and likely to be for a very, very long time.

Not a place for anyone's money methinks.

Acquisition of additional interest in Kraken http://www.moneyam.com/action/news/showArticle?id=5217237

This is a very interesting one, Stan.

First Oil went into administration. It seems they couldn't find a buyer for assets including Kraken so Enquest and Cairn had to somehow stump up the cash to take their pro-rata split of First Oil's share. They had no option, clearly. However, it is known that not so long ago Enquest were trying to offload part of their share in Kraken. This is a complete u-turn. I guess if they had not then Kraken would have been in a bad place? Naturally, this has been funded by further debt.

When you read the Fisrt Oil statement after heading into administration, it was the bankers that pulled the plug. I'd expect this kind of thing to continue.

How many other banks will pull the plug on oil & gas companies, including Enquest? Still wouldn't touch this company.

Very intriguing to put it mildly as you say Big Al, and avoiding these does seem to be the best policy.