Member Info for adoubleuk

Wellwell,

"Good explanation AK-a little bit harsh though. His answer was correct in the context of the question."

I disagree. No it wasn't. And what's 'the context' ????? If the rig is still latched onto the BOP, and the well 'open', they'll (hopefully) still be experiencing fluid losses. If, however, the DST string is already in the hole but hung off and with the BOP closed, it won't be the case. However I don't know if that's the case at present.

Sorry (no, I'm not, really, not at all), but saying that losses only occur while drilling is downright 'go to the back of the class' wrong. That kind of thinking is what gets rigs burnt down.

Cebo (and Slip, for info),

"Slip, pretty sure the Esvagt Claudine is the standby rescue vessel for the TL, and she looks to be still on location."

Yes, roger, roger. The 'safety vessel' will be out there in all weathers at all times. Things have changed since the 70's and early 80's when safety vessel regulations were implemented, and many of them were just 'converted' out-of-work N.Sea trawlers. It could be quite frightening watching from the rig the 'plight' of such old boats, stuck out in weather which had they been fishing, they'd have run for port days beforehand.

The topic takes me back to the winter of 2016 / 2017, when things were 'exciting', and the TO Spitzbergen was waiting on weather to move from Lincoln to Halifax, and a lot of discussion on this BB was 'operational technical', rather than 'financial technical'. Happy days. A video appeared on youtube, which many felt might have been shot on the bridge of the Esvagt Celina, working for HUR, in a big storm. It was good stuff! But the video was 'disappeared' a couple of months later.

However (just checked), this priceless clip is still there...

https://www.youtube.com/watch?v=gPy2DHHnlqQ

From Slipanchor.

"When does the actual mud losses take place, while drilling the horizontal through the fractures, or when the drilling string is removed?"

From AlfaMale.

"Whilst drilling."

AlfaMale, your answer is totally wrong and incorrect. If the formation is taking fluid, in 99% of cases it will continue to do so all the time, unless some sort of LCM has been added. (Not the case in HUR's operations to my knowledge.) It's true that while drilling, losses may be greater, due to ECD, (equivalent circulating density) which is too complicated to explain here in depth, but simplified, means that while drilling the fluid (in 'circulation') exerts a higher pressure on the formation due to friction-losses (backpressure) in the annulus.

But even when the well is open to the formation, the fluid not being 'circulated', losses will continue unless the fluid is in perfect 'balance' with formation pressure. These are called 'static losses', and are monitored frequently, and the hole is kept 'topped-up' to compensate.

Obviously, if one ends up waiting on weather for any length of time, with the hole experiencing static losses, more fluid has to be mixed or obtained to keep things 'topped-up', and maintaining safe pressure-control over things.

Hurricane will not have been drilling 'on balance', if for no other reason than regulations, even though WW is appraisal rather than exploration, so they'll have been using lighter fluid than on WD. And the rig's not equipped with MPD, which would allow them to do so. Ergo, if they were experiencing losses while drilling, they'll continue to do so with the well 'static', just to a lesser extent.

petethestreet,

"WW it has taken a painfully long time for me to realise CB arbitrage is holding this SP"

Well I'm not buying that story. Not 100%, at least. Otherwise, how to explain the peaks in October of last year, and May this year? The CB's were issued in the 2017 fundraise, and I don't think any more have been issued since. There are other forces at play as well.

All fine and dandy. Except emphasis seems to be now being placed on further drilling on WNB, and nary a mention of restarting the EWT. I don't get it. Equally no mention of the brief EWT already performed in Rathlin's update.

MT Vessel,

" im defo at the wrong GIG, I see similarities with relation to WD!"

What are you on about? Right now it's soundcheck. The audience hasn't even been let through the doors yet. And we don't even know if the bands yet made it from the airport, due to bad weather.

I think you're very selfish writing such stuff at a time like this. There are a number of people who've been writing a lot more than you have here (and holding the shares longer, of course), who are as much on tenterhooks as you are.

Dark_Knight,

"I read that the DST test can take a few days to a month is this true in the case of hurricane?"

In general, Hurricane's DST's tend to take about a week. But there's another thing 'new' regarding the latest RNS. Alexios' comments are correct, but the Sept 2 RNS was primarily a 'Lancaster update' with Lincoln tacked on for good measure. The Sept 9 RNS was a response to photos of the flare having 'leaked' to the public domain, ie after the DST was well underway.

In the latest publiction, the company has said it will RNS 'when well testing commences' (which of course can be interpreted as meaning when the weather calms down). But it's rather unique for them to do so, and I hope they keep to the promise. But after that (as Alexios says), it'll probably be about a week before a 'results' RNS is released.

bransonbull,

You only got one reply to your question yesterday, which was "The RNS indicates that the testing is weather dependent. Does anyone know if it's the actual testing that's weather dependent, or the movement offshore of the equipment required for testing? "

nGOk said

"The weather statement can cover a range of operations. Need suitable weather to work boats for equipment, rig up equipment. Also need suitable weather to flare ie. wind speed and direction."

Which is pretty much true. But the important thing is that a calm 'weather window' is required for the whole nine yards, encompassing the entire DST operation, including running the test string, the actual testing period, and string recovery. A few days, in other words. Unlike something like a drilling assembly, a DST string can't be easily 'unlatched' in a hurry, should the seas get up.

I think it's a 'first' to see the weather-dependency of the operation mentioned in RNS, and maybe part of the motive for publishing it was to avoid negative rumours spreading on Monday if a flare isn't seen over this weekend. As it happens, there's a force 8 gale warning issued for the area today, so it's unlikely anything will be spotted in the immediate.

SG2,

" Simple sums time and you get a divi of approximately the current sp."

If there's one thing the company has been categoric in the past, it's that they have no intention of paying dividents in the foreseeable future. Of course, that could change. But given your scenario of no big buy-in, but two more fpso's, where's the money going to come from to finance such kit, and the further drilling? The company can't just do placement after placement. So maybe debt offset against profits, or something like that. Debt which will have to be serviced, probably from incoming revenue. Still think there'll be enough 'left over' to pay dividends?

I ddon't feel it's 'smple sums time' at all.

Electric Vehicle,

Oh, and more wrt your 18:39 post:

"Beware the wolf in sheeps clothing gentlemen! "

Hey! That's a bit politically incorrect! There are ladies present here, as well...

DC,

"You mentioned electric car stuff. Please keep up to date, they’re usually called EV’s"

Oh flock. Sorry. You were being subtler than I recognised on first reading. Nice one. :-))

DC,

"Please keep up to date, they’re usually called EV’s"

Sorry. But sometimes I feel my age and maybe behind the times. But I won't have an EV on my CV, unless you count the last time I rode in a dodgem-car, which must have been about 50 years ago...

EV,

" I really don't know how to explain this, a possible analogy would be that i am a meerkat standing watch giving repeated warnings to others, ridicule me at your peril my friend...."

I'm sorry if this may seem rude or impolite, but it appears to me that you seem to be forgetting a couple of things. (a) I am not a Meerkat, and (b) I instantly tend to distrust someone I've never met in my life (or at least not to my knowledge) who calls me 'friend'.

I was not 'ridiculing' you, merely pointing out that your post totally contradicted that of yesterday, when you said you'd sold out at a price less than today's close. And I've found no other recent post of yours 'alerting us' to today's 'events'. In fact I consider today to have been rather uneventful, other than Hurricane informing us that testing hasn't yet started.

And unless you have some 'inside info' which the rest of us don't know, or something like that, either operational or corporate to support your 'alerts', I've seen nothing today that has in the least way made me consider making a trade either way at this particular stage of the game.

Beerbull,

" oil is currently the new dirty tobacco"

Neatly put, Sir. Last weekend the price of cigarettes went up yet again in France by 50 centimes: all of which is 'tax', none of it goes to the tobacco companies. And all the electric car stuff being foisted on us reminds me of nothing less than the 1919 Volstead Act in the USA, otherwise known as 'prohibition'.

And the fun-sucking leeches still expect people to 'vote' for them, and somehow people still do...

DC,

"The only rational explanation is that investors are still wary of that term unconventional reservoir used to describe fractured basement. Is this a reasonable conclusion or has the FB risk factor been deliberately exaggerated and if so by whom and for what purpose?"

I think it's a reasonable conclusion. Though your other suggestion may be correct, as well. The problem being that if it actually is the latter, one enters into speculative territory, and runs the risk of being labelled a conspiracy-theorist!

EV,

"I believe I called (alerted) of todays events correctly before it actually started (Check my postings)"

I've checked your recent posts, and it appears you sold out yesterday at around 41.18, and today's close is 43. And what 'event' today did you 'call'? An odd RNS intended to calm some media speculation (not that I've seen much in the media recently about HUR)? Nope, don't see you having predicted that.

"and the time that I posted, a lot of honest investors lost lot of caboodle today"

Who, exactly? I doubt that many 'honest investors' traded this today, rather than waiting a few more days for the first of the two RNS's the company has now promised regarding start of testing, and the subsequent result.

Oh, and another thing. Kerogen may have sold a whole wodge of shares, but nevertheless, someone or somebodies seem to have mopped them up, and that requires deep pockets. A sort of cloud's silver lining, isn't it?

"While you're at it, boys, a bottle of whisky for whoever finds my Rolex..."

Genghis,

"Shows what damage Kerogen did, unloading at 20% below market price.

And just weeks after Roy Kelly assured us at the AGM that the then current SP of almost 60p was not fair value, and that Kerogen looked to holding periods around. 10 years.

I know they had their reasons, and I know he had to say what he did. just shows, tho, that its a dirty business, and you can' trust anything anyone says."

Maybe. But to me this begs a question. To which I don't pretend to know the answer, but maybe someone else here might have an opinion.

OK, Kerogen has representation on Hurricane's BoD. So they (as major shareholder) have access to technical and operational information which the 'little fish' PI's don't. BUT (here's my question), are Kerogen under any obligation to divulge information to Hurricane about their own shareholding / trading strategies? It's not as though (to my knowledge) any of Hurricane's directors also have a seat on Kerogen's board. In fact, such a situation could possibly represent a conflict of interests.

Also (now stating my own personal opinion), although Kerogen's last sell didn't help the SP whatsoever then, and the effect is maybe still being felt now, it seems partially understandable, and shouldn't necessarily mean there's some sort of 'bad news' about which we PI's aren't aware. Because surely a basic tenet of shareholding is to (a) recoup one's original investment asap, and (b) then start banking some profits? Plus times change, so stated strategies might change, as well. It mustn't be forgotten that Kerogen is a Hong Kong-based company, and that country's in the news daily right now. Then there's the Brexit farce (sorry to mention that) with an associated falling Pound, now an election, and also the 'Spirit deal' may possibly have caused Kerogen to change tactics.

Malrees,

"Are you able to explain to a layman how that communication would be learned and by whom? Would it be available at this stage of drilling progress?"

Sorry, no, can't (or won't) explain further. Just a wayward thought crossing my mind, and it might be completely wrong. And I don't want to elaborate in case it IS wrong.