Member Info for adoubleuk

All,

"Chris Oil ... The biggest no hoper on AIM . My Daughter could call better shots than that guy . "

Who is this 'ChrisOil' person?

I've got 100 posts on my screen, and can't see anything from a person with that name posting here.

Maybe I'm just a naïve investor in a company with money in RBD, a company investing in some promising oilwells.

But it seems like this 'shareholders Bulletin Board' is largely populated at the moment by a bunch of onanistic adolescents trying to see who can urinate higher on the wall, for what it's worth.

F***in' would-be daytraders.

JayKay1,

"Anyone know any good rope jokes?"

As it happens, I do know one.

An armed burgler breaks into a house one afternoon, and finds the couple at home. Keeping his gun aimed at the man, he ties the woman tightly with cords, hurting her, and causing her to scream in pain. He then demans that the man open his safe, hand over any jewels, cash, and whatever.

"Anything! Anything! But please remove those ropes!"

"Oh" sneers the burgler, "You must really love your wife more than your money".

"No, not really" sobs the distraught man. "But she'll be home soon"........................

(Boom Boom!, to quote Basil Brush)

Kaytom,

(How come there are so many 'Kay's' showing up around here? Am I being followed? Or copied?

"Prior planning prevents p|ss poor poker players"

"Prevaricating Poker-Players Probably Play Pretty Poorly"

(Just invented that new Law of Sevens)

JayKay

"Prior planning prevents p*ss poor performance"

Insert 'and Preparation' after 'planning'.

I suspect it was an add-on to the old 'law of the six 'p's, but a very important one. Post-Falklands, maybe.

Alexios,

It's a rather specific seabed / just below seabed level survey. I reckon it's 'mapping out' the area around the upcoming Lincoln well in respect to installation of SURF material (manifold etc.) in anticipation of tieback to the AM.

Assuming (as we all hope) Lincoln comes in as a 'winner', I feel the company (s) will 'fast track' tieback to the greatest possible extent. So get the required data in as soon as possible.

It mustn't be forgotten that although there's now revenue coming in, staffing (both direct and indirect) has increased enormously. Those people aren't sitting in their offices playing Nintendo games.

The 'Law of the Seven 'P's'.

scotlouie,

"in last rns it mentions rig will move to next well being the Lincoln Crestal well. does anyone know of timeframes that HUR will get a spud date for this? are we talking weeks or rather days?"

By rights, days. Hopefully. The tugs are standing by, and it's a very short rigmove. Plus seemingly the weather is perfect.

Foresight22,

" moving AM over to Halifax (2022)"

Dunno where you get that idea from. Hurricane have unequivocally said the AM will be remaining on Lancaster for six years (assuming all goes well with EPS), and maybe ten.

PS (To JayKay1),

That little phrase, " I'll not judge others on how they spend their money...."

I don't go into a casino with the idea of 'spending money' (maybe having a 'good time') neither.

I agree with 'Thedriver' when he says he'd bite someone's hand off for an 87p T/O price, given the level he bought in at. Now, so would I. But without a T/O, and when the SP reaches 87, I'll be topslicing again.

Might have to wait a few months for that, though.

JayKay1,

"I've only ever planned on a decent return here, so a set back that makes a spectacular return less likely isn't something that has made me question things as much as others...Some of the doom and gloom is justified, some a little is a bit over the top, but each to their own... I'll not judge others on how they spend their money...."

Who's saying a setback won't nevertheless preclude a 'spectacular return'? One dry hole out of a number of successes doesn't mean the whole thing's a dud. And a good thing is the decision tho P&A immediately, rather than go chasing rainbows. Off to Lincoln, and we'll see what we will see!

The SP drop was ridiculous, of course, but that's AIM. Stop-losses hit, the retail market getting hammered, some people having to cancel their holidays or maybe buying a second-hand Mondeo instead of the Porsche.

Really, nothing has changed. Personally I don't think (with 20/20 hindsight) a massive flare seen from the TOL would have changed much.

Neither will the CMD. Because it's not what is said there which will move the SP, it's whether the info is digested by the potential Institutional Investors invited there, and like what they see, and as a result, invest further.

I think we're back into the doldrums, at least until a result from Lincoln.

Maybe I should have sold in May, to come back on St Leger's day.

But too late now.

Still got some cash left, though, car's running fine again, so not a trouble in the world. I'll be running around (now that car's working again!) playing poker (terribly seriously, to cover car repairs, other expensive living expenses, and so on), starting in La Rochelle in a few hours' time.

The rig'll be moving probably sometime next week,but won't be 'shipwatching' it. (Or might be, secretly! But why bother?)

Que sera sera...

Here's something for Albi1:

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

PS: Missdosh! Loved the inflight flight-course picture! My little one-horse town actually on the map! (*_*)

Oh. I obviously got the film quote quite wrong...

JayKay1,

I suspect we're thinking along roughly the same lines.

Something we DO know is that it was at Spirit's suggestion (insistance?) that WD was drilled first, rather than Lincoln (the original idea). Also maybe going straight for the horizontal rather than including a 'pilot hole' wasn't a sign of huge confidene like I'd personally thought, but instead not building up a large pot when holding a marginal hand...

Although a dry hole, WD will have provided a lot of data and answered some questions. Unfortunately one question remaining is the 'connection' with Lincoln: we won't have much idea about that before toward's year end, now

As for your quote, is it from Jurassic Park? That's just a guess, though. Maybe it was Planet of the Apes. One thing I'm certain of, it wasn't 'Gone with the Wind', whose last line is 'Tomorrow is another day'. Nor 'Easy Rider', neither...

Longwait,

You have to be very foolish or very stubbornto hold on here".

Colour me stubborn.

Like Biffa, I'm still here, licking my wounds, admittedly. I saw no reason to trade before the weekend, though was interested to read that some did. And of course there was no way I'd sell into a drop like the one we've seen, especially on a Monday.

Just taking a break from posting a bit, and reflecting on the last few weeks' 'events'.

Fortunately I've booked myself into four days' serious poker for the weekend after next, so something to look forward to, and an opportunity to claw back some of the paper loss occured here.

Though still in profit.

Harryshang,

"I agree an IPO of Raithlin is the consonant route to establish shareholder value."

Who or what is Raithlin?

Commandokai,

Your ost is the funniest thing I've read here all day!

(No, hang on, it's now tomorrow.)

But I can't find a flaw in the logic.

Brilliant.

Jiffy,

"What are the chances of revisiting WD sometime in the future? "

Zero.

As mentioned in an earlier post (forget when, and this BB's been busy today!) 'plug and abandon' means what it says. Nothing remaining. Hurricane's got four wells (to my knowledge, might be wrong, maybe more) 'suspended'. This means the wellhead's still there (with a trawl-guard over it), and the well below that (casing, etc.) intact. And no doubt what's known as a 'kill string' suspended from the wellhead tubing-hanger.

In other words, these are wells that can be re-entered at a future date, without having to re-install all such stuff.

(By the way, all such 'suspended wells' involve a lot of expensive stuff. A wellhead assembly isn't cheap. Something a lot of people don't seem to grasp: Hurricane's ²work isn't 'garden shed' any more.)

Or rather, I started by saying 'zero' chance. But I might be wrong. Maybe in some far distant future Spirit / Hurricane might poke a drillbit in that area again, just to check it out further. But not now.

bartlebobton,

" you can on really speak of the depts and people you have worked with, not the whole shebang..... that's somewhat disingenuous."

Yes. But it's somewhat disengenious (sp?) of you to refer to TOTAL and BP as having 'brains', implying that others haven't.

Oh crikey. How did I miss this? Maybe the most important bit.

"The Company and its contractors are currently evaluating the drill stem test data and fluid samples with the objective of providing an update on this preliminary analysis at Hurricane's Capital Markets Day, scheduled for 11 July 2019. "

I hope they can at least keep to that schedule.

Plus I've got a 4-day poker marathon down south starting on the 12th, but I won't be missing the webcast of the CMD. It'd better be good. Otherwise might put me off my game..

bartlebobton,

"BP....Total et al with their brains, skills and years of experience are better qualified to make an assessment of what has happened than just about anyone"

Oh hahaha!

I've worked for TOTAL three times. Quit each time (won't tell you why) and still they asked me to come back. BP.? Utterly no way I'd ever work for that shower.

'Brains'? Maybe, but nicely washed. And if you don't fit the mold, you either get fired, or if you've got any sense, you quit. Like Dr Trice did.

Or of course you can always remain, as the Drilling Superintendent of BP America did, who sent an email to the rig saying he'd be out of touch for a while because he was going line-dancing to the music of the Village People. The Macondo well blew out a couple of hours later.

johnpwh,

"How do you see that TO & Petrofac screwed up? Bit confused on this point as I naively assumed Spirit and Hur would be calling the shots since they were financing the operation."

You have to understand the 'structure' of the whole thing.

Spirit are paying for these wells. They obviously have 'input' into how their money is being spent.

Hurricane is ''Operator'. Calling the shots, in other words. They're the 'responsible person', answerable to OGA and so on. But well design, day-to-day stuff doesn't come from BoD level.

Down the list comes Petrofac. In operational terms, they're doing the day-to-day operational stuff. But possibly with some new-hire Hurricane people in parallel. I don't know. Petrofac is a Subcontractor 'operator'. But the 'Company Man' onboard the rig is Petrofac, or their subsiduary company SPD, based in Dubai. The 'Company Man' (Or DSV: Drilling Supervisor) is answerable for all that goes on downhole. Below the wellhead. He's a 'Consultant'.

Transocean is the Drilling Contractor, providing both the rig and the drill-crew. The 'Boss' is the OIM (Offshore Installation Manager).

The DSV and OIM are therefore two 'bosses' on the rig. One representing the Client (in this case Hurricane, the client) the other, the rig and its crew. And in the best of cases, these people work together.

Then of course there are the specialist 'Service Companies'. Mud Engineer, Directional Driller, Mudloggers, Casing crews, Cementers, old Uncle Tom Cobley and all. They report directly (technically) to the DSV. But if they need some sort of pipe tie-in done on deck or similar help, or their bedsheets are smelly, they go to the OIM.

Is this beginning to sound complicated?

It's just a tenth of it. Or even less.

Back to your question. Today there's been discussion on this BB about 'information' coming from the field. And assorted shareholders have 'networked' (how I hate that expression!), so word gets around... The interpretation of news/rumours from the rig is of course then subject to interpretation, and myself, I got that interpretation dead wrong. Sorry. But the dismal result of Warwick Deep fits perfectly with the information received, as well, except in a couple of instances.

I can't go into details. They could be construed as libelous. But both the subcontracted Petrofac and the Drilling Contractor Transocean might be thought of to have made some serious mistakes in the drilling of the WD well, adding both time and cost.

However, to mitigate this, the final outcome would have remained the same.