The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Thank you SageOfOmagh .... really helpful info
Bartlebobton, LC tieback is indeeed 50/50 but HUR would charge Spirit a share of the AM cash costs, probably around $18/barrel with the higher production now confirmed. With Brent around $40 HUR oil generates $22/barrel with $18/barrel from Spirit's oil, so most of the benefit comes to HUR.
....Any LC tie back would be divide by 2 with Spirit Engergy ... HUR have a 50pc interest in Lincoln ....no ?
yobbo - agreed on phrasing. when i first skimmed i thought it was negative. I wonder if that was why price crashed initially?...or maybe MMs were expecting a big rise and wanted to flush out some cheap buys themselves.
I agree it is a good RNS....increased production. I think the hedging was a good choice given uncertain macroeconomics.....personally i think oil price should hold and do better but a bit of insurance shows careful approach - an improvement on previous management.
lincoln decision is good.
CPR - since trice said there should be a lot more down there than originally thought i am hoping he is right and bod are just being cautious. anyway with lincoln in play rreserves will go up....
main thing is we are moving forward again.....making money..proving up concept.....still think a takeover will happen so this just increased the potential price
Still as clear as mid to me why tie back was not permitted another 5k net to hur on top of these 2 wells and all of a sudden we are producing 25 k bopd
Agreed. New Bod downplaying expectations, hoping to outperform later.
I'm expecting a more comprehensive update on Lincoln once they have an agreement in place with Spitfire with how to proceed.
Genghis - Contingent resources CPR down rate. - I'm afraid its the nature of our Interim CEO.
H+S, Compliance etc.....will always plays the 'safe' card....
No wildcatter there....
They should have phrased the Lincoln part of the RNS better as it appears to be good news.
Not on LSE site. Everywhere else, yes.
Apologies for the potentially stupid question but..Anyone else not seeing an RNS showing this morning?
Ceng, yes, lost amongst all the excitable chatter here. Important in many ways, perhaps more so than the negative point about contingent resources which actually smells of over caution to me.
Apologies if already posted, but note amongst that, it also appears we got the field determination on Lincoln, so this may not now be P&A?