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Enquest - Eyes 40,000 bopd in 2014

March 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • ENQ
  • Price:
  • 117p
Enquest has announced that production to the end of October averaged 23,944 barrels oil per day (bopd), up 20% on the previous year, while latest guidance for full year average production in 2011 is 23,000 - 24,500 bopd. Encouragingly, Enquest has more recently announced that it has sanctioned the development of two new fields, Alma and Galia, in the North Sea. These are expected to cost US$850m and will increase proven and probable reserves by 29 million barrels as well as increasing production levels to over 40,000 bopd by 2014. Most recently on 9 January Enquest announced the acquisition for up to US$90m, of a 20% interest in two North Sea blocks, which include the Kraken oil discovery in the East Shetland Basin. The ope ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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