Have to agree, 99% people here frustrated but good to read both sides. This isn't even going slow as we currently are moving backwards from a MCAP perspective and have been for years. We should all take a 6 month sabbatical as it isn't good for your health watching £££ disappear!
I find both Chappi and HB worth reading, if one is a little too positive and the other a little negative that's fine, they balance each other out. I was glad to see the end of the spat that reduced to name-calling. Let's keep the board better than ii. After 4 years I find myself still hoping for the best but anticipating a go slow.
It sounded a good move and of value for the company to make when promulgated at the time, believe between 2010 and at least the WOHC 2012 it was stated as an objective. As qualified production operator and duty holder for their own leases they retain full control, they are not tied down, with costs also for the service, to employing a 3rd party as AMEC for now, to act on their behalf. Something we should hear about from the company, what's happening about their application, is it still considered useful to have, and remains under process.
It might possibly be due to staffing levels required to maintain such status, with the delay to production over earlier anticipated dates, FDP approvals etc., they are still gearing up so it may be the back burner until Bentley at least in place. But would be useful to have for development of other leases, both the company's, and others where they may be contracted to provide HO service they express their ability to perform.
Although banks will limit exposure to start up costs on something as big as Bentley, there's nothing to say that a financial group/ conglomerate won't lend substantially bigger funds to help startup costs and with the mou's in place, first phase is a reality..
Prodigal son may return soon after having spent some considerable time in Kurdistan. Currently licking considerably financial wounds inflicted by a variety of people including the bod there... Only got myself to blame... I should have learnt from the undeliverable promises made by bod here... Remember the 200%-300% uplift from 385 p as xel was then! Still, I've always thought xel would come good and with the middle east situation and Ukraine/Russia proving an absolute imperative to develop our own resources and pretty damn quick... The government need to wake up now and get it sdorted..atb all
The expiry dates tie in with AMEC's stated aim of commencing the detailed FEED design phase during Q4. Also worth noting AMEC and Arup announced their collaboration on 14 April 2014, and the job vacancy was published on 22 April.
It's unlikely they would commence complex front end engineering design work without funding (and subsequent FDP) being either in place, or very close to being approved IMO.
Having began the programme last year, they of all people should know the projected timelines.
12 June 2013 'XER and AMEC will shortly commence a front-end engineering and design (FEED) programme, during which the terms for a wider services agreement are expected to be formulated to include project and programme management and controls, further detailed engineering and design, fabrication management, sub-contractor management, hook-up and commissioning, operations and maintenance planning and system build, and Duty Holder services.'
14 April 2014 'During the initial concept assurance phase of the work, AMEC and Arup will be developing the ACE design to allow Xcite to take a final investment decision. The concept work will be executed from AMEC’s London office.
This latest agreement reinforces the MoU signed between AMEC and Xcite in 2013 to develop a wider services agreement for the Bentley field to cover key items of the field development scope and the ongoing field operations.'
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