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Did you manage to buy them through your SIPP or a Share Account?
No
I bought them through HL / Jp Jenkins
Kever,
Thanks for getting back to me. Who did you buy the DCU's through? Was it Sharedeal active?
I bought my DCU's late AUG I think it was and I got the 0.309p dividend. You should get it as well.
Kever,
I, like yourself, purchased DCU's post acquisition. I am being told by Sharedeal active that I am not entitled to the first payment of 0.309p per DCU as I bought the DCU's post 30th June (10th / 11th July). Are you having this problem?
Nice to see the sensibles chipping in with different data each separately know how to access. keep it up fellas.
HUR projection was for 6.3 mbpd in December 23 and 5.9 mbpd Jan 24 @ $80 oil. so that's our P6 benchmark to see how things are going
The latest field production data reported to the NSTA is:
May: Oil 7.34mb/d water 8.58md/d
June: Oil 7.19mb/d water 8.68md/d
July: Oil 7.09mb/d water 8.73md/d
Note there is a three month delay in publication of data.
HUR's prediction was that 2023 Q4 would see significant drop off ie: more rapid decrease. But techies amongst us opined if oil seeping in from sandstone there may come a point where drop off stabilises even stops as oil continues seeping in from sandstone at continuous rate. In such does occur P6 could continue economically viable significantly longer than predicted. So it's whether drop off stabilises/ slows down which will be interesting.
Should read 345 bbls decline over 5 mths
ALSO in May 2023. They reported oil production at 7,345 bbls/d and water at 8,577 bbls/d (c54% water cut.
Really it has not dropped that much May June July August September 5 months the decline was 345 bbls a day evaluate that to future on those figures certainly looks like P6 can carry on production for a few more years but these are only stats and other factors that create the risks
Production days July23 17 days
August23 31 days
September23 30 days
October23 12 days
TOTAL 90 DAYS less maintenance 10DAYS est = 80 days production @7000 could be7100 or even 7200 either way
=560,000 then take off uptime at say 95% less 28 barrels comes to 542000 estimate for this offload .
We dont know if production continues through certain topside maintenance AM also has storage tank reserve which may not be fully emptied so there could be a carry forward to next offload of circa 5 days production, certainly some oil in storage reserve as its always shown in accounts at year end/ 1/2 year as accrual produced and not offloaded
I would be looking for an offload prior to Christmas. Est say about 22nd Dec weather also a factor at that time. Gives us a possible 67 days x7000 =469000 plus whats in storage could make a part offload up to the 500,000 mark. If that happens we would have 3 offloads accountable for the March 1924 DCU payment.
Thanks Laser.
If tanker 540K, can you opine what production bbp likely been since previous offload? Taking into account annual shutdown which I believe has occurred (tell me if hasn't).
Am I right in thinking that if production holds up (ie rate of decline stays constant), there should be another offload circa Dec 31?
Oil today $91 and not likely to fall much of at all by end of month. And was $91 ish 1st 5 days of month. So looking OK for not too shabby $90+ offload
The end Dec offload will be interesting as the bpp at end Dec will provide a good yardstick to measure P6 rate of decline
The tanker is now en route to the port of Rotterdam. Expected to arrive there on Sunday evg Oct 15, 19:00.
Offload indicates around 539000 barrels
0.8p/1p by end of March 2024
This payment was a tiny one, but I've seen several mentions of a better series of potential payments in 2024 and 2025 (and probably another small one in 2026). Anyone have a reasonable guesstimate of what the next payments could/should look like?
LANCASTER tomorrow
ETA: Oct 12, 05:00 (in 23 hours)
Allow Approx 10 days for the maintenace should give next offload this Thursday 12 October.
Https://montroseport.co.uk/live-webcam/ NJORD VIKING finished work on Hose Changeout @ Aoka Mizu Returning to Montrose in early hrs should be visible tomorrow in dock hull colour bright yellow. Supply vessel out at AM this evg should have an update over week -end re next offload
So as expected some very mixed responses from the brokers, who should all have received the funds at the same time on 29th Sept?
First off the mark seems to be ii (into ISAs/SIPPs on 29th, into Trading accounts on 2/10) and i-dealing on 29th as well. A few others now caught up late including HL and iWeb/Halifax/Lloyds. Poster ifaze on ADV saying Barclays now paid it into ISA yesterday. And it looks like IG are maybe using an old Maya calendar and don’t actually know which day it is!
Also some variance between brokers as to whether the payment is credited to ISAs or into regular trading/dealing accounts (wherever the DCUs are held) - all seems a bit random but not surprising. I discussed on 29 Sept that payment into ISAs may well be correct if the shares were originally held there:
https://www.lse.co.uk/ShareChat.html?ShareTicker=HUR&share=HUR.L&thread=FA0EB710-6294-41E0-8B86-141C8F367278
As ronwoking indicates below you don’t have to accept your broker’s interpretation when it comes to your tax affairs if you disagree with their approach. It’s a private matter between you and HMRC and you can present it differently to them if you have good reason to believe that, although they might not accept your view and may come round to nab yer telly of you don’t cough up ;0)
No advice intended, just for consideration if you wish.
"fwiw hl transferred my dcu's to a trading account but have put this first dcu payout into the isa as with everyone else. i assume this is a **** up and they will either transfer funds to trading account or tell us to"
Interesting that another platform has done the same as ii, as the more platforms that do this makes it less likely that its a **** up, hopefully.
Payment received 👍
thanks corryv. i'll have a butcher's.
fwiw hl transferred my dcu's to a trading account but have put this first dcu payout into the isa as with everyone else. i assume this is a **** up and they will either transfer funds to trading account or tell us to. i am assuming capital gains tax will be payable on all these payments going forward.
If I originally held my Hurricane shares in an ISA and I now hold DCUs in a trading account, how do I work out how much capital gain (or loss?) I’ve made from DCU payments? Finding this very confusing.
The dcu payment has arrived at my Lloyds trading account described as a corporate action not a dividend.
II paid it into my Isa account.
Nothing from Barclays yet.
I shall regard all the payments as originating from my ISA holdings of HUR and duke it out with the revenue if they query it.
The Iweb platform is supported by HSD (Halifax Share Dealing), as is Lloyds. The DCU payment has appeared in my share dealing account today.