Enquest in the Sunday Times ENQ1

"Faced with a worsening outlook, EnQuest recently held a beauty parade for debt specialists. It is understood that Rothschild, which was hired by rival Premier Oil for a similar mandate, is set to be appointed shortly"


  • Prelims out today and, to me, look pretty positive.
    This bond currently YTM a shade over 26%
    Anyone any thought?
  • Yes, ENQ have given an impressive update, I listened to the call. The management have done an excellent job, BUT they are still a hostage to the Oil price. For me it's a HOLD. I get the feeling that since it is a very well run business, if ENQ did run out of cash, the lenders would probably opt to swap debt for equity.
    The share price was super charged by a rising oil price, rose 30%. But it is still a long road ahead.
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