ENQ

Shotry,

I bought £2000 worth of Bonds for my ISA here. 9% is good and oil prices will help Enquest make the payments.
I closed positions on Monday in Enquest and made a 4 figure profit materially increasing my Spreadbet Account.
I am meeting my targets.
Although I would agree that Enquest should reach 40/42p soon using Spreadbets and CFDS there are overnight charges and weekends. With the Oil price so volatile I prefer to grab profits where I can.
I sold at 36.0p to 36.7p on Monday.
Today Enquest is down. Looking at IG 90% of investors are long, so 10% are short.
I will take a further position at 32p if it becomes available. I set up alerts on my IG App.
Whilst the Oil Price remains high Enquest should reduce debt over the next two years. Once debt free they can invest in further production. They have several licences including the Xcite Energy Bentley field.
My daughter has a £24,000 Junior ISA thanks to buying debt Free Producer SQZ at an early stage.
I see Enquest as a slightly different riskier proposition due to the debt and bonds to service, but they have significant production and when they become debt free the SP will be transformed here.
but until then I will trade it.

Elena, with respect I think you're getting enquest wrong. The chart suggests the first likely decision point on price is either 40p or 42.5 from my point of view. For the bonds, go search through the LSE discussion, it's not quite the way you're portraying it. Also, debt wise, they paid down 132 million in Jan/feb (POO around 85 average), obvioulsy with higher POO since that date, they're likely to pay down a lot more than that for Mar/April. This is no longer a quick in and out trade, it's a bet on the company having turned the corner. In my view, it will rise beyond 40/42.5 and head towards 56-60

Apologies for my view on the War in Ukraine.
I was completely wrong.
Let us hope that this war is over soon, the loss of life and destruction is awful.


I am still trading Enquest, I closed out a decent profit in this share yesterday at 31.05p.
Oil prices are so volatile but it looks like Enquest has only $1 Billion debt now and has renegotiated Bonds at 9%.
Should oil prices remain above $70 they should become a debt free substantial producer and the share price will increase substantially.
But the oil price is so volatile currently be careful.

Back in today for a short term trade.
Oil prices still strong.
There is not going to be a Russian Invasion of Ukraine.
Not unless Russians start getting killed in the Ukraine.
Will take profit at 24p

Today the SP started slipping like it did most day so I closed my Spreadbet positions only to watch it finish slightly up from the open.
I booked a modest 4 figure sum. I have only been brave enough to use Spreadbets since June.
IG phoned me and told me that they would close my accounts.
I placed money in the account and am now trading more actively since September.
I have increased my account over 250% since then which is fantastic.
I need to reach 20k to make the account more active, I am taking positions only in a select few companies.

Today ENQ broke through the 20p support.

I hold some profitable positions but if it looks likely that the fall continues tomorrow then I will close my positions and wait for the retest.