The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
upstream 28 march 2024
mubadala spuds key ultra-deepwater well offshore indonesia
success at tangkulo could boost touted andaman gas hub project
united arab emirates operator mubadala energy has spudded its second well on the south andaman production sharing contract offshore indonesia, where it is hoping to find additional reserves to support the exploitation of its recent ultra-deepwater layaran discovery, which has potential to be a 6 trillion cubic feet-plus gas field.
upstream regulator skk migas confirmed that mubadala on sunday had started drilling operations on the tangkulo-1 exploration well, south of layaran.
the well is located 166 kilometres northeast of banda aceh city and 67 kilometres north of lhokseumawe in aceh province, and is being drilled by seadrill’s drillship west capella.
upstream has twice attempted to contact mubadala via the portal on the company’s website for possible comment and details on tangkulo.
mubadala, its south andaman partner harbour energy and bp — which is co-venturer to both other companies on the adjacent harbour-operated andaman ii psc — are already considering options to exploit gas discovered in the area including as liquefied natural gas or potential pipeline exports to singapore, malaysia and thailand.
following december’s success at layaran — the exploration well flowed at more than 30 million cubic feet per day of gas — the west capella moved to the andaman ii block to drill wildcats on harbour’s halwa and ***o prospects. the halwa-1 well delivered low gas saturations while the ***o exploration well resulted in a small gas discovery, which was tested.
andaman ii is home to the 2022 harbour-operated timpan-1 discovery that tested at 27 mmcfd of gas and 1884 barrels per day of associated 58 degrees api condensate. halwa lies to the northeast of timpan while the recent ***o discovery is located to the southeast of timpan.
on completion of the ongoing tangkulo probe, mubadala plans to drill an appraisal well on the layaran structure, thereby adding a fifth well to the drillship’s current charter.
head of skk migas’ programme and communications division, hudi suryodipuro, said the potential for oil and gas reserves in the andaman region is still quite large, adding that the regulator continues to encourage and supervise companies operating in the region so that they can realise all their activities in accordance with the agreed 2024 work programme and budget.
co-venturers in the south andaman gross split psc are operator mubadala with an 80% interest and premier oil (harbour) on 20% while harbour has a 40% operated interest in the andaman ii psc where it is partnered by mubadala and bp with 30% apiece.
Fingers crossed…..
Not much chatter about the recent rns
The principal risks and uncertainties facing the Company;
§ The Directors' responsibility statement made in respect of the Financial Statements and Directors' Report contained in the 2023 Annual Report; and
§ A statement regarding related party transactions.
Any thoughts ?
"Not much chatter about the recent rns"
I think everyone's bored to be honest, Harbour has been ran up and down these ranges for years now.
Those that sold the rip to 320p are relieved to finally be out, some who held are cursing themselves for not selling whilst other holders still believe that there's a 400p+ compare there.
Only time will tell...
If investors are buying Harbour Energy in the expectation that it will go to £10 in a year, of even £5, then they should not be investing. I suggest punting crypto.
If you invest in Harbour or any business for that matter - the same considerations should be applied as if you are buying the local laundrette. Balance sheet - debt, cash flow, profit. Management. Growth.
If you are gambling then you absolutely should have sold the rip at 320p. If you are a serious investor then you will be more than happy to accumulate more shares at these levels.
Db US 10yrar is killing the party.Israel bombing the Iranian consulate should keep.the pressure on the price of oil.
Seems.there trying all they can to drag iran into the conflict
Always makes me laugh when new accounts poo.up.talking of serious investors whilst ignoring the points in the rns
Tell me about the long term in your opinion what risks do.you not aee that the main institutions that are not piling in are seeing
ATB ;-)
I'm not saying I'm right. I could well be wrong. When I look at Harbour, I see a good business, when someone else looks at Harbour they may see a dumpster fire.
So far I'm being proven wrong.
Hold on quote
If you are a serious investor then you will be more than happy to accumulate more shares at these levels
So your a serious investor and the ones.with multi billion pound funds are not
So what are you seeing future wise that there not seeing
I'm seeing value
I'm seeing BS.
Now I posted certain phrases in the rns out for debate only to me it sounded a bit weird like are they just about to go all so called woke and destroy valuen
Now you ignored all of that and come back with your a serious investor then you come back with I see value and yet ignore all the points raided
So where you seeing the value what research have you done not saying your wrong but your the serious investor so would.loke to hear a serious reply
I'm not sure what you're getting at. I see value in Harbour Energy's balance sheet, in their business model, in their management.
I don't care about the news. There's always another crisis, war, crash, recession.. Until i see it reflected in Harbours earnings, its just noise.
So your not that serious then
I guess not
You really are a sitting duck then.
Harbour is a disaster, the management is a disaster, and the next crisis will be the nail in the coffin for us.
This share is the most manipulated and played share I’ve ever known. I’ve stopped watching it because it just depresses me. Give me £3.50 and I’ll take a huge loss and gladly never look at it again.
There’s a reason no big money is buying either, they’ve seen all they need to see to stay clear.
Rookie - why is it depressing you? Patience my friend. You'll get your 350p. But if you are still holding it then surely it makes sense to buy some more and bring your average down? Dividend coming up in May.
Remember - its impossible to go bankrupt if you don't have any debt.
What will it take to break 280p once and for all..even $89 Brent is not sufficient for this stock