spkiller I take it. you do not agree fdp late summer then ...,can you please be a bit more diplomatic with your comments there is no need for these aggressive comments all the time, one would think you were a complete and utter wassik hows your short by the way?
With the possible size of Blackbeard and the other identified fields it would be ideal if XEL can extract them from any Bentley negotiations, ideally keep any supply to Bentley directly under XEL ownership and control. A more logical 3rd partner if at all, other than Statoil and/or CNOOC, might be BP, at least they have already a HO offtake agreement with XEL. Even Bruce might be an alternative route to market for Blackbeard oil, being close by. Many permutations, sigh, see what wins out..
Personally believe the rig timing has gone back, even early last month KFELS said they were still in negotiations when asked. Until 30/4 RNS RC has consistently stated rig 'due to be built' or words to that effect, until that last RNS rig 'under construction'. The rig is being designed to integrate with XEL's scope of work and specifically with the MOPU, so likely timing will be tailored to match installation of all in the field 2018 prior drillling commencement thereafter. Also, a semi would be more suitable to shuttle around cleaning up the old wells as now seems the plan, and hopefully a drill of Blackbeard and/or 9/9f.
For Phase 2 it's a little hard to understand why XEL are not showing an ACE platform for that PUQ. If the type is deemed suitable for Phase 1, why not for Phase 2? Might be an interesting question for someone to raise at the AGM, as surely will be one to raise also on timing of the rig's arrival Dundee range.
Ive always had the view that Total will have some interface with Xcite at some point. There is this shared block for one thing and Totals expertise in HO refining and more recently the refinery refit in Rotterdam. But also the undrilled blocks are supposed to be potentially lighter oil which would be useful in providing a better blend for marketing the Bentley crude. The problem might be that Statoil might not want to leave room for Total on Bentley. However that would not stop Xcit Mk11 doing a separate deal in the future for the new blocks. Thanks again LEGENDS for keeping these issue at the forefront. You might upset one or two soon but that wont be a worry for you Im sure.
When FDP is finally signed off by DECC late summer. Then and only then, will the Bentley Beast show it's true value. Plan B finished= FDP sanctioned Plan A started- Full Asset Sale Of Greater Bentley Plan C complete- XER give birth to XEL2 with BOD changes.
Don't forget people. Bentley South, Phase 2, will probably require some sort of engineering drill programme prior to FEED for that phase.
As posted, the so called XER rig will be delivered in Q12017. Yes it will take several months to equip for UKCS operation (unless she is kitted out during construction) but, they could have her on site, Bentley South late summer 2017.
Yep this should be the second part of success from Bentley funding, FDP, and jv partners cash input from the recovery portion due to XEL of expenditure on Bentley to date. This will allow well(s) to be drilled into these blocks, either solely funded by XEL or free carry jv for the drilling costs. One way or another they should get sanctioned and drilled. What was Blackbeard potential again, 500m bbls oip? Not a month to consider sale of one's XEL imo..
What are people thinking about the global options, if the share price keeps going in the next few weeks? Looks like this rise will be very well timed for them, AGM, FDP coming, Potential interest from farm ;in to takeover and re- rate on FDP? Seems very coincidental that the rise has started right about when it's most beneficial for them? Tells you why we were sitting at 27/28 for so long and who was behind it; in my opinion ??
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.