Member Info for adoubleuk

nen2319,

"I think it just shows how desperate the team are to achieve the hook up, that they decided to up anchor and go for what was a questionable weather window."

I must admit, with only slight reservations, I agree with you there. And when reading the other poster who mentioned 'shambolic amateurism' I baulked initially, but also on reflection (though again with reservations) agree with him as well.

Via other sites I've seen weather charts from various sources (thanks to those posting them!), and at best everything has looked 'marginal' for the next two weeks or so. And I don't understand the thinking of going for 'marginal' with the additional risk instead of waiting for 'OK'.

Sure, it's costing Bluewater money waiting around. But yet again, I don't know who's calling the shots in regard to this critical hookup operation. To what extent is it 'driven' by Bluewater, and to what extent Hurricane? As I say, I don't know.

The point being, even if the boat has to stay in the Firth for another three weeks before an OK weather window manifests itself, that still leaves three more months for commissioning and hitting First Oil within H1 as targeted. Plenty of time.

Sure, I've personally been in situations offshore where transfer of personnel to the rig has been by boat, it's sailed, but halfway it's been decided that doing the run would be too hazardous, so the boat's turned back. Tough luck for the guys left on the rig for an extra day (or two). The same of course goes for helicopter crewchanges.

However this is a different ballgame, and not a simple crewchange. Orders of magnitude greater importance and costs involved. But also, it's a major and critical-path engineering operation, not some sort of PR stunt.

Personally, even if there's a FoiL overrun (and I don't think there will be), and it's due to the weather conditions, that falls into the Force Majeur / Act of God category for me, and there's nothing to do about those things, so I won't complain. But if there's another engineering c*ck-up due to trying things in 'marginal' conditions, I think I'll have a right to do so.

I don't know if anyone from Bluewater reads this BB, but if they do, here's an open request from a little PI. Please don't weigh anchor again next time unless you know for sure the conditions will be suitable....

kaytom,

"why can she not take shelter in Lerwick?"

A while ago, someone posted here that anchoring charges at Lerwick are much higher than Cromarty. (I haven't personally checked on this.) Also the Firth is more sheltered, and it's closer to Aberdeen for any resupply.

scoredagainsteps,

"Hi what do you make of it "

Same a s Wellwell (surprisingly, and for once). Weather too marginal (that's putting it mildly), and I too am rather surprised they left Cromarty.

" Have you just woke up?"

Nope, out of bed early today. (Midday.)

"AM destination now Cromarty!"

Oh bother.

This must be getting pretty frustrating for the ship's crew, as well.

Hip hip hooray, she's on her way!

Now things get interesting.

Doubleheadedcoin,

"Looks like those who sold out yesterday or today thinking they may see 40p may have to be quick in the morning."

Talk about the pot calling the kettle black!

Personally, I've been watching the SP quite closely, due to all the talk about it going yet further down. 'Cos approaching 40p I'd have bought some, to trade back later on at a profit. But without touching my 'core holding'.

Which makes me a 'trader' of sorts, I suppose.

But any PI who trades their entire holding in this share hase got to be a blithering idiot in my books. Or just a far braver person than I.

The FPSO's now heading north, desination The Field.

At last things get interesting again.

Sovereign,

"When I stated I’m just trying my luck and all this is new to me i was meaning that share trading was new to me and I’m trying my luck at it."

If that's true, all I can say is be careful. Posting 'from the inside' can be dangerous for one's continued employment. The companies DO watch these BBs.

If your ifo was correct, thanks. But you'll understand why some people might be sceptical.

Wellwell,

"No takeover, no massive hike in the share price equals wrong in my book."

Takeover has only ever been a hypothesis mooted by posters on BBs like this. The company has only ever talked about 'monetising its assets'. There's a world of difference.

Albi1,

" I love the farmer's sayings on weather, i.e. n'er cast a clout till May is out (don't put your winter coats in storage) and for March - In like a lion, out like a lamb."

And weather-wise, March has started like a lion compared with the mild February !

(And so have I, but I hoper the farmers' saying doesn't apply to poker-players!)

Btw, referring to one of your ealier posts, (OT), hope you're winning the 'tag-matches' with recurrent colds! January I thought I was on death's doorstep and for a couple of days I wished they'd open the door. Finally threw off the 'flu. But whenever I mix in relatively crowded places, there I am snuffling again a few days later.

I wonder if someone's selling biohazard suits on ebay?

I wonder if they'd let me into the casino wearing a biohazard suit?

luckyman2,

"We should be thankful that City have been selling in an orderly manor over the last 6 Months"

There's been so much talk about this, it makes my head spin! At the latest presentation Sachin answered a question relative to whether Gaelic might be selling, and (I paraphrase), he didn't think so. CF seems to be an obvious candidate, but there appears to be no actual proof of this either. So it's all rather up-in-the-air.

I agree with an earlier poster who said this doesn't seem to be be behaving in the way one expects an AIM share to do, though! Incoming revenue, success stories, more success anticipated, two wells drilling and more to come in short order? Knowing AIM, this shouldn't be a penny-share, it should be a 10p share! With the MM's, the traders, the spread-betting companies making the SP as volatile as heck!

Instead of which...

There must be a big seller somewhere.

Personally I'm just holding tight: not buying nor selling. Waiting for something to move...

There's another thing I'd like to add to my earlier post addressed to Nigwit. I wrote

"When the order was placed, a certain lead time would have been given for delivery. Equally though, the manufacturer almost certainly had other orders in from other clients, who will have been given lead times quoted. They too, may have been in a hurry, who can tell?"

I don't know if this has been posted here, but some people who can be bothered to keep in contact with Hurricane's IR dept do, and I don't think I'm being out of turn repeating the knowledge. That being, the rope arriving (arrived?) is to an upgraded specification compared to the previous ones used. What I do not know is whether this upgrade applied to the original order, or whether it was made after the 'second attempt', after investigations, and identification of a potential weak point in the system.

Either way, it underlines the fact that this is high-tech custom-made equipment, and saying ' there's plenty of rope in the world' is missing the point entirely. If Bluewater had been able to use something off the shelf from B&Q, they would have done. But they haven't. The people losing actual cash money due to what happened is Bluewater, not Hurricane, and not Hurricane's shareholders.

I found an earlier post (now deleted by the moderators) interesting: someone claiming the rope had been delivered. But we still don't know. However I agree with Nigwit when he says Bluewater will be taking no chances with the weather next time out. Personally, I'm not looking at any of the weather forecast sites: I'll only get interested when the FPSO moves north again.

Nigwit,

" The rope discussion has been a complete nonsense. Clearly there's plenty of rope in the world and even if a custom rope was needed it could have been procured faster than the weather was ready given enough money, which I am sure the company, or Bluewater would have paid in the circumstances."

I'm sorry, but I would submit that it is that statement which is nonsense, and displays a complete misunderstanding of how the oil industry and other heavy industries work. The rope in question is not any old thing you may use to tether a cow in its byre. It's custom-made, and its manufacture to the particular specifications required obviously takes time. We know from IR that a new 'spare' was ordered immediately following the first 'snagged rope' attempt. Then the second unfortunate incident occured, leaving the AM with no pull-in rope available.

When the order was placed, a certain lead time would have been given for delivery. Equally though, the manufacturer almost certainly had other orders in from other clients, who will have been given lead times quoted. They too, may have been in a hurry, who can tell?

The point being, a piece of kit like this isn't cheap: and the clients aren't poor, neither. So what makes Hurricane / Bluewater special? What makes you think an under-the-counter brown envelope might accellerate the process? The people involved aren't some third-world customs post. And if word got out about such a deal, there'd be hell to pay for all concerned.

Reputable businesses don't work like that, and nor would they take such risks. Your post is incredibly naïve.

Albi1,

" any chance you could help us up the SP with another top up"

Someone else beat me to it! As mentioned a couple of days ago, I'd noticed the doom-mongers here saying that having gone below 44, the SP was headed further down. So I promised myself that if it got close to 40, I'd scare up some cash to buy some 'trading shares'. But it didn't happen...

scoredagainsteps,

"Hi you are about early compared to your evening shifts here . Do you think they have the rope and folks dont scream at me for asking this question thanks"

I only struggled my way out of bed an hour ago! (Hugely successful poker session last night, didn't get to bed 'til seven this morning.)

Wrt your 'rope question'. I have absolutely no idea. A few days ago I mooted that those manoevers outside the Firth might have been in some way related, but I hedged that post with all sorts of ifs, buts, and maybes. I have no greater access to 'inside information' than anyone else posting here, I just have to guess things, like the others. So I don't know if they have the rope. Sorry.

The only thing I feel pretty confident about is that the standby boat Grampian Dynamic will not have been used as some sort of delivery-boy service.

Gonebroke,

"Warwick has an historical well and I guess that oil was found back in 70s but thought to be not commercially viable. It is possibly this that they are referring to."

I'm sorry to say you are wrong.

I refer you simply to the RPS 'Evaluation of WoS Assets on behalf of Hurricane energy', published December 2017. A glance at the Executive Summary on page one reveals the phrase "No wells have been currently been drilled on the Warwick structure".

Arco drilled a well on the flank of Lincoln in 1975, but that's the nearest 'historical well' in the immediate area.

Of course there is additional in-depth reading about Warwick (and all the Hurricane assets) further into the document. You might benefit from reading it.

That Proactive article, good as it may seem, isn't 100% accurate, which isn't unusual. At one point it reads:

" Spirit’s Phase 1 programme will see three new wells drilled.
It aims to accelerate the appraisal of Lincoln and confirm the Warwick discovery"

What Warwick discovery? A well has yet to be drilled on the Warwick segment of the GWA structure. Sure, it's almost inconceivable that Warwick is not the same as Lincoln, and may actually be connected, but until that well is drilled it remains in 'official' terms an exploration prospect.

Oh double bother!

It WAS DC I'd quoted! Time for bed, I think.

Oh bother. Last post addressed to JK, not DC!

DC,

"Great day. 6% up. the market has a sense of expectation."

Well I'm really p***ed-off about it.

You see, there are all these 'knowledgeable' sort of people who post here (only during office-hours, mind), who were saying that having gone below 44p, the SP was headed for 39p or so. And I'd started rattling my piggy-bank again to find some small change and buy a little 'trading stake' extra around 40p, to sell a bit later for a guaranteed 20% profit. Without touching my longterm holding, of course.

Seems like those 'experts' got it wrong again, though.

Jaykay,

"A squid, a seahorse and a puffin walk into a bar..."

Interesting concept.

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