BUZZ-EnQuest: drops after FY production forecast cut

** North Sea-focused oil producer EnQuest (Frankfurt: 3EQ.F - news) shares (-9.9 pct) & post biggest intraday percentage drop in five months after co cuts full year production forecast

** Expects 2017 overall average daily production to be similar to the first-half production rate of 37,015 boepd, plus or minus 10 pct

** This equates to a range of 33,313.5 to 40,716.5 boepd, well below its previous guidance of 45,000 to 51,000 boepd

** Says it does not expect the current operational issues in the Kraken ramp-up to continue beyond 2017

** Expects Kraken oilfield in the North Sea to increase production in Q4, achieve plateau gross production of about 50,000 bpd in H1 2018

** "This (operations update) confirms our cautious view on Kraken and the time it would take bring the field on stream... This news will inevitably raise questions from investors on EnQuest's balance sheet and the critical importance of a timely delivery of Kraken to the company's future," - GMP Securities analysts