True but the rise came so out of the blue, with hardly any trades at all right up to the rise, maybe that's the answer, an easy day to manipulate the share price. Ah well I sold some BLVN at what will probably turn out to be just the wrong time and bought another £10k of this at about 70p so it wasn't all a waste of time :-(((( One day I will get one of these right !
Sorry to contradict you but yes there has, look at the p29 of the June 2014 Corporate Presentation. New build unit timeline could be 3 years from order if that is the route they go, so as and when the FDP confirmed by DECC start from there, and see what weather window it falls into close to delivery.
In addition, Aibel, one of XEL's MOU partners advised in their 23/7 PR on the subject of the platform that was expected to be onsite 2017.
settle down and look at the facts.......there has been no mention from the board as far as i know of production in 2017 nobody knows what is going on at the moment thats for sure, as the few RNS's we have had shine little light on the way they are moving forward......it is frustrating yes but we must not make assumptions and keep faith in our asset....GLA
Of course not. It's just useful for them to have it, more cover, especially as it was not paid for by them, but this had to be a DECC push.
What's also curious though, with the spread offshore at the time, and the cost of same, particularly with RC's comment at the last AGM re cost of laying more undersea pipe as a plus for the FSU close to the platform, was that XEL seemed unwilling to optionally move on to the new 1st phase B straight away, drill and produce after they had run the requested EWT. It was clear from both the EWT and the earlier ON flow test they were in a fleld that they'd proven could produce. Were they being ultra cautious re the opportunity that came up to early terminate the rig contract, just in case the EWT did not work, and/or had they been persuaded a successful EWT might bring in a jv partner at an early date that could operate/provide their own equipment?
Why did they not have some form of proviso in with DECC for them to agree for XEL to continue to production with everything on site if conditions found from the test wells warranted so doing. Banks also could have been in the line for RBL based on the existing at the time, and proven with the EWT larger reserves to back a large loan. Now the whole show has to be brought back again 5 years from being on station for the EWT. Any new equipment, platform, purpose FSU etc., could have been introduced as available while the field was producing and being further proven up at the same time with the purpose j/u rig they had, and are now going to have to re-book once more.
Sigh, chappi will no doubt point me to the errors in my thoughts..
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.