Updates

Enquest

November 2018

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.

North Sea oil & gas exploration & production firm Enquest has announced it will exercise its option to acquire the remaining 75% it doesn’t already own in the North Sea’s Magnus field alongside increases in its interests in two pipelines and the Sullom Voe Terminal. The consideration is US$100m cash up-front with the remaining US$200m to be financed by a loan from BP. This will be paid out of the Magnus field’s cashflow. Enquest is funding the deal through a 3 for 7 rights issue at 21p a share, raising £103m net of expenses.It’s an excellent deal for Enquest and on completion will add around 60m barrels 2P (proven and probable) reserves. The initial program is to drill two in-fill development w ...

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Hill & Smith

Cairn Energy

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Enquest (May 2020)

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Enquest - Giant Kraken field achieves first oil (August 2017)

Enquest (June 2017)

Enquest (April 2017)

Enquest - Â£82m equity fund raising boosts balance sheet (December 2016)

Enquest - 43% growth in production (November 2016)

Enquest - North Sea oil firm eyes strong production growth (June 2016)

Enquest - Shares rally as oil bounces (March 2015)

Enquest - North Sea oil producer to double production to 50,000 bopd by 2018 (August 2014)

EnQuest - Pipeline shut-down a small blip (October 2012)

Enquest (July 2012)

Enquest - North sea oil group eyes doubling in production and reserves (June 2012)

Enquest - Eyes 40,000 bopd in 2014 (March 2012)

Enquest (February 2012)

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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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