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If another FPSO is being ordered or even thought about then that is fantastic news. RedOctober has been correct in the past with his predictions.This additional FPSO just shows what HUR management are considering and obviously they think that they will have sufficient oil in the future to fill it. Hoping the message from RedOctober is proved to be correct.
last time we had
an fpso
we had 50% dilution
only hope oil and other parties
pay for it.Will I ever make any blo,,y money
lol
Correctly reporting offtake dates and volumes is one thing. Any number of people could know that info on the FPSO. Predicting a massive capex decision is quite another unless it’s the same company of course.
I suspect it’s tea shack chat and too many sugary tab nabs being consumed.
"new FPSO being lined up as we speak, this is big, really big.."
Shouldn't be a surprise, the forward guidance section of the CMD shows a second FPSO on GWA for 2022. Just forward planning, getting contracts in place. Be interesting to see if new build, or more likely imho, another lease/refurb.
GWA FFD FID mid 2021.
FOIL 2024 so there won't be an FPSO at GWA before late 2023 at the very earliest.
Interesting FPSO article, there are plenty currently in construction!
And again with the link!
https://www.fircroft.com/blogs/the-fpso-market-is-growing-these-are-the-projects-to-watch-in-83481410575
Slippery - there are bins that need emptying.
Ah well, the sun is shining, there's a beer in the fridge for after work and Hurr will pay off my Mortgage in two years time. Happy days.
Its nice to dream that:
They'll move AM to GWA to flow LC and WC, making way for a 100k bpd beast to rock up to lancaster and suck hard on the 2 wells weve got and 3 more to be drilled next year. 5 x 20 =100k of goodness.
This is based on nothing clearly, just a slow day at work and thought id post some random tosh
Driver, you’ve been outed as Sliperyoil the former iii poster. A bin man. You lost money attempting to trade and have been bitter ever since.
I thought you said you were only 20 something
;-))
You need to grow up, that’s for sure.
Gaping Fracture, ref your post/dream. The three wells currently planned for next year are for the GWA, not GLA, although I expect we will soon be told that the GLA wells planned 2021 will now be drilled 2020 (2 GLA wells with further options for 2 more hopefully).
Ref the FPSO "news" - I would be very surprised if Hurricane weren't already looking at options for FPSOs but they need Warwick West result, and I suspect more drills before they can start any FEED studies or make any decision on that front. - I may be wrong but dont think we will get any concrete news on an FPSO any time soon.
I would also be cautious about trusting RedOctober - he is posting information that is already known or expected, claiming that he has inside information ("from the drillfloor") now why would you do that apart from to try and look credible?? - not only would the poster be on dodgy ground himself by posting info on a public BB, he would also be putting the jobs at risk of anyone that was passing on that info as well - he will guess a few correctly but huge bags of salt required when reading his ramblings. - I think it might also have come as a surprise to RedOctober to find out that FPSOs do not actually have drill floors.
Driver, not yet hence beer in fridge. NEVER swear on someone else's lives, use your own if you have to. Done all right so far with much more to come. Happy days. This is a share that will grow, I don't have the time to try and snatch 6% changes up and down.
It's like the Secret of Com"TIMING"edy.
2 x GLA for 2021 coming forward into 2020?
Do tell us more.
2 rigs next year??
Yes my post wad BS but seems it enticed a little nugget out of you in the 2 Lancaster wells nect year!
Halifax horizontal will be 1 surely, the other? Risk a Lancaster deep to try prove the mobility below structural closure??
I'm all ears
Driver, I'm not aware I did label you.
I thought you'd sold out - why are you here?
Gaping fracture, just to clarify, I do not know for sure about the GLA wells being brought forward, but after listening to AS talking, he at least hinted that this may be the case -
I think that Hurricane will need to ring-fence $80-100million for Hurricanes share of the 3 GWA wells, LC tieback to the AM and also to tieback the AM to the WOSP. I would still hope that hurricane would be confident enough to commit to, and self fund 2 extra wells on the GLA next year (another $100 approx IMO) - maybe more than 2 wells, hence a guess at a possible further 2 well option if and when they announce the rig contract. If I was to guess where the GLA wells would be, I suspect a step out on Lancaster towards Halifax, and then at least one on Halifax itself. - all IMO, and as they say, WTFDIK, not a lot :-)
There's no secret about the very real potential of some GLA drilling in 2020.
It was mentioned in the CMD presentation that HUR will in all likelihood bring drilling forward from 2021 to Q2/Q3 2020.
I can't remember if it was RT or AS that actually said it but I have a sneaky suspicion it was AS.
I think this was always going to be the case but they had to be confident in the EPS producing decent cash flow before committing publicly.
GLA.
I remember something about the possibility of the drilling programme being accelerated (in the context of better than expected income).
I agree Biffa, if at this stage they can confirm as you outlined, it will be a very confident signal & it will hopefully monetise the asset that much quicker (assuming zero funding from shareholders).
I agree, it was AS who raised the prospect of bringing the Rona Ridge wells forward to 2020. His prime consideration seemed to be whether it was HUR that broke the news or the drilling contractor. Let's see if he takes the opportunity this Friday to be 'first to the post'.
On cash flow the step that made this a possibility is the higher cash flow due to 'covering' the 15% FSPO downtime during the uptime. HUR could end the year with $150m in cash. Slide 21 slows their expectations for cash flows and Capex through 2020.
$47m from HUR covers the full tieback of the LC and the gas export requirements, leaving the 50% of the 3x GWA wells to fund from the balance of what appears to be $120m 2020 Capex guidance. The guidance for the Rona Ridge wells in 2021 looks around $100-120m. This looks very doable in 2020 from HUR cash flows.
It is only two and a bit months since the CMD but I for one will be listening for any stronger hints Friday as to whether this work is brought forward. If successful the payback on de-risking the GLA area further, i.e. in addition to good progress on the EPS would be significant.
I recall it being contingent on a full years EPS revenue ie FOIL in jan/feb rather than H2 revenue alone.
We’re probably somewhere in the middle given the early good EPS performance but probably not far enough into the EPS to make firm commitments.