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.

Hi everyone,
Long time no see.
I am currently long in ENQ. They are pinned down by debt but have substantial production.
The problem was the latest market reaction to short term maintenance issues after the RNS was issued.
With Brent above 80 they have a chance of reducing debt.
They probably earn $2.5m a day gross profit, more than enough to service debt and reduce debt.
Imagine if the Oil price stays above $70? A company worth £300m becomes a £3BN company if debt is reduced to less than £100m.
Looking at a short term trade here there was minor resistance just below 20p. This looks to have a gap to fill which should make a very nice short term trade.
With their level of debt is definitely one to keep a very close eye on.

No problem Paitech. It seems likely the issues are sorted, but it also seems that ENQ could have some difficulty servicing it's debt in 2023. After the RNS, there would seem to be enough negativity to mean that the gap at least to 17p area will still likely fill. I closed all leveraged positions (at a loss) prior to the RNS, due to the bd from the TL support. Glad I did. I hold shares and have to say it's been a big winner for me over time. I will not add, until the gap to 17 has been filled. I'd prefer to see the gap to 14 filled if I were honest.

THanks for that heads up buddy.... phewwwwww
its down to 19ssss

Maybe worth keeping an eye on what is happening with Kraken. Some talk of production being down 40-50% due to technical issues. It's been going for a few days now and some believe it will have a material affect on ENQ's year end debt targets. Worth taking note of 2 gaps to the downside to 17p and 14p. With price having dropped below that TL and the market worrying about Kraken production, closure of those gaps becomes more likely in my view.

This has fallen after my last visit...

Currently under the long term up trendline...

With oil looking going higer, maybe worth the punt , before it breaks above the trendline...

ta
G

I think its a super broken out of triangle in weekly and daily

I had these ones from 16p, and holding it when it went to 26, then it started falling down , and sold it at 22p...

Now I feel, I should have hold it , hindsight....

But I think its still a good buy at 25p?

TF comments please... charts attached, weekly and daily
This has broken out of triangle nicely? what you guys think?
ta
G

Thanks TF.... yes, I would bank some profit... every little helps...

hope you and family are all well.

ta
G

enq - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...CDji1vAglTE3Yw6CI%3D

i think this should make a a higher high....and its bene making nice higher lows.
The next initial target here is about 30/32p area imvho....

Only a break below the channel and then the 200 day ema line would cancel the bull view imvho...

40p is a more longer term target....

lets see...and a very good entry here Paitech....maybe a good idea to bank some and hold some?

atb, wdik, dyor,
trendfriend

Hi TF,all
whats your view on this? It looks like it filled the gap you mentioned earlier, and oil looking good too.
Not sure if I should hold for 40 or take profit early
ta
G

I did buy some at around 17-18 p.
Not sure when to take profit
Ta
G

This one is still struggling.... to cross the down trendline.

charts attached...

Oil turning bit bearish too...

ta
G

enq - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...28yKlSpxyWE%2FL3Q%3D

yep good spot....as long as that gap stays unfilled the target is 40p here imvho...

atb,wdik,dyor,
trendfriend

No chart as working but just a heads up this broke through the downtrend resistance a few days ago and has today gapped up past TF's 23 key level.

enq - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...Lev+oFl9+NT7hVngeYM=

This is a good spot here....
It looks strong but its at a point where it needs to prove its the real deal....or a just another bear rally....

If it can get its head above 18p and 23p on eod closing basis....both pivot levels and strong support turned resistance....then it should find the legs and have enough follow through to hit 40p imvho.

Buying here would be buying at resistance and too risky...wait and watch imho.

atb, wdik, dyor,
trendfriend

This seems to have come up a lot....
not sure if it will break out?

TF? any thoughts?

ta
G

enq - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...c45nIRSzaLmn3a77pO0=

thanks for posting this up....this looks good for a bull run...if it can break above 24.25p and hold that number....it should provide the momentum trigger for a nice rally imvho...

the rest of the notes are on he chart...

atb, wdik, dyor,
trendfriend

Heads up. ENQ has broken what proved to be a significant resistance at 23.5. Price currently sits at 23.82 (hit 24.4 earlier). I think there is further signficiant resistance around 24.5. However, you could argue that price broke from a diamond bottom on July the 11th. That sets an avarage target price around 28. There are clear resistances around 29/30. Gaps often close quite quickly. On the down side there was a gap up today which is clearly visible on the 2h chart. That would close around 23p. On a more 'to infinity and beyond' view, there is a large gap overhead on the daily chart that would close just above 40. Just sayin'