ENQ.L – Enquest

After the disaster that was CPP, it’s time to look at a slicker outfit, the Oil & Gas producer (geddit?) Enquest.

Finals have come in today, which look pretty good, but the market is unimpressed; marking it down 0.1p.

Just some updated numbers from SharelockHolmes first: mkt cap £1.06b, PER 12.8, PFCF 4.64, net cash £239.8m, net cashflow £404m. I;m using GBP rather than USD here. Not bad at all.

Looking at the finals RNS themselves (based in USD):

  • Production up 12.5% to 23,698 boepd
  • Revenues up 52%
  • gross profit up 113%
  • PBT and net finance costs up 130%
  • EBITDA up 70%
  • "2011 was another strong year for EnQuest as our operational performance continued to generate high levels of cash flow. We produced an average of 23,698 Boepd in 2011, reinforcing our position as the largest UK independent producer in the UK North Sea."
  • "We have also significantly consolidated and expanded our asset base"
  • "EnQuest remains confident in its production growth targets for the medium term and reaffirms its earlier guidance of net production greater than 40,000 Boepd by 2014."

Directors have a lot of skin the game, with Bseisu having a stake of nearly £92m, and Hares £4.5m.

If only I had more of this stuff, rather than Pace or CPP

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About mcturra2000

Computer programmer living in Scotland.
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