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I bet Stobie, is glad he is no longer with HUR, they have hardly covered themselves in glory... it's a tight spot they have painted themselves into...the more time that passes...the greater the expectations...no pressure then.
Expectations; like WW, WD ...LC.... and now one production well, an achievement of sorts....ohhh and a 80'odd pc drop in sp.
.... fossil fuels are subsidised too ...by guess who, the UK government.
Bartlebobton, may be that is why Stobie is no longer with hur. He should have been writing articles telling the world of the returns they should be expecting with hurricanes massive asset base, rather than talking down the oil market, still just a sad and pathetic deramp.
DC don't suggest things like that otherwise poor little bartlebobton will have a 'cardiac event'
When Sunak looks at the bill for lockdown he is going to have to cut the budget. Green subsidies would be a start.
....Con, or not, there is a green tide and oil co's are being squeezed, pension funds and so on are moving in the direction of renewable s, dirty cars aren't fashionable. The congestion charge, in London, is soon to move out as far as the North Circular... Compare central London, Paris, Madrid to what it what is was 10 years ago, cars aren't welcome. There is an irony here, think of the transport everyone used in China not 35 years ago, yup, the bicycle...and now they are barely seen.
bartle...i agree the current flavour is green energy...however impractical that may or may not be. interesting youtube vid showing a lot of it to be a con.
if that is the case then it will be important that hur succeeds for the uk...there is a much lower carbon footprint in getting the oil out here than in saudi or russia etc and then getting it transported here. added to the fact that i think after the coronavirus nations will look to be more self sufficient in commodities
Absolute garbage Bartle. If the oil stops flowing, we are all really screwed. Forget about climate change, it’ll be the end of civilisation as we know it. The City might regard the O&G sector as in general already laden with as much debt as they can manage, I’d certainly agree that. Luckily HUR has pretty modest debt, although it’s come at the price of great dilution.
Pecten11 - Well I think the comments below are even more relevant today, than when the article was first published.
"Mr Stobie struck a chord during a recent event in Aberdeen when he said opposition to investment in fossil fuels had gone beyond Swedish climate change activist Greta Thunberg and was “mainstream City of London”.
The capital markets expert subsequently told Energy Voice that although the UK oil and gas sector is still finding favour with private-equity investors, doors are slamming shut in public markets."
Don't shoot the messenger, I didn't write the article, so don't get all huffy, I believe he makes some valid points, you might not agree, which is fine.
There is one production well at the moment, which isn't so...so... exciting, also, you couldn't say it's a significant contributor to N.Sea oil production, try and keep things in perspective.
You, bartle ???
Don't try and make it look like I agree with you...sad
Any reason why you feel the need to post a link to a twelve month old interview with HUR ex CFO?
Btw a quite from the article -
'Mr Stobie said the current state of the UK’s energy infrastructure meant a rapid switch to 100% renewables provision was not viable, and that the country still needs oil revenues.'
So your point is?.....
Hi Bartlebobton, good afternoon, I see you are still following your sad agenda, trolling up old articles, nothing changes. The Hurricane story remains. The EPS produces oil at low cost, it is still flowing after a year. Oil fields need wells and Hurricane may need to drill a new well, that is the business.
Yup, Pecten11 ... The trend now is a move away from investment in oil companies, they're not fashionable and have competition from other industries like renewables, the squeeze is on.
One or two interesting points from Mr Stobie;
https://www.energyvoice.com/oilandgas/north-sea/199724/mid-cap-oil-firms-facing-investment-crunch-as-fund-managers-go-cold-on-fossil-fuels-hurricane-cfo-says/
Yes, batlebobton, those pesky Norwegians are still pursuing fractured basement with a sanctioned EWT from their Rolvsnes discovery (with less than half the flow at the same rates as Lancaster) - delayed slightly due to Covid
https://www.lundin-energy.com/rolvsnes-extended-well-test-project-sanction/
With any O&G development there is risk - but the potential reward (and demand) is why companies still invest billions globally