Member Info for adoubleuk

Wellwell,

" you stride in telling us to stop debating what is in fact the very next critical step on leaving port. "

You are mistaken, sir.

Please continue your debates about the weather to your hearts' content, no matter how pointless they are, imho.

SotB,

"Fitguy5: could be waiting a while then."

Sure you've been there and done that as well, mate! Similarity between the oilpatch and the military is "hurry up and wait"...

fitguy5,

Your post in reply to Wellwell:

"As a simple statement of guidance that is correct, however the reality is far more complex. Short n choppy 2m wind waves are not as influential as a 2m long swell, due to the volume/weight of water in each wave length."

This is one of the stupidest debates I've ever seen on this BB!

And I can see it potentially getting worse. For example, the boat waiting off Lerwick for conditions to be right, someone here seeing that one of the many weather sites is saying '2m swell', and someone then butting in to say there's some sort of delay, or maybe it's the Bod's fault.

And for all you puff-boat people, it's not just swell, but also wave frequency which is involved. Juts like with 'landing' a jackup. But the final decision will be up to the Captain or the towmaster, and probably involving a few communications with head office.

And it's Bluewater's call, anyway.

Grow up. They'll latch the buoy when the conditions seem just right, as visually observed from the bridge of the boat and using the best local professional forecasts available. Even if that's Christmas day.

Fred_Bloggs,

" If anyone has a beef with Bernstein, I suggest the best thing to do is to buy shares in Crystal Amber. Then, if he is making money at your expense, at least you'll benefit from it?"

That brought a grin to my face! I suggest you compare / contrast CA and HUR share charts over the last year or two and see if you perceive a similarity. Take note of the dates, and correlate them with CA holdings TR-1 RNS's released by HUR.

Why use a middleman who takes his (considerable) cut, when you can do it yourself?

Also, in reply to a post by Wellwell, there was an RNS about a holding by a major shareholder which proves they actively trade their holding, and that their tactics have changed. So what's wrong with discussing it here? I'm sure that when we get an RNS about the FPSO hooking-up to the buoy, that will become the main topic of conversation...

yuyus,

"But the most comfortable was an old Mercedes G Wagen"

During a few months working in Congo a few years ago, my vehicle was a Toyota HDJ75. Other than around town and on blacktop, I regularly drove to the rigsite, which involved 35 km of seriously bad dirt-roads, including the rainy season, when 'road' became a bit of a joke.Cart-sprung (but with elliptic springs), it was nevertheless a very good ride, and unbelievably competent in horrendous conditions. Quite on a par with the old rangerover I had at the time, but with a better engine. Looking to change anyway, I seriously investigated these 'Africa Spec' things,(not to be confused with the 'Prado') but found I could only buy one in Belgium, and might never be able to get it street legal as not acknowledged by the EU.

An utterly amazing machine. Ended up just buying my (now old, but much trusted) Rangerover L322 instead. Which of course has a certain 'luxury' side to it. But all the electronics, which means that although I've done some modifications myself, there are a lot of things which require specialists when maintenence time comes.

Toyota specially make a lot of cars specifically for the Africa market, and which you just don't find anywhere else. Which is why you no longer see many Landrovers on that continent any more, except in safari-parks.

IJWT,

"Guess it depends whether you think his comments are controversial. I would contend they are not and some legitimate concerns have still not been answered. When disregarded by the BoD having stood tall when asked (bail out.of warrant VWAP) he was summarily cast aside over his objections to the VCP and fundraise above all other options."

I understand what you're saying. But still remain in fundamental disagreement. I see Crystal Amber as a millstone round our neck, though admit that no opinions of mine expressed here will do anything to change that. But as said earlier, I don't have to like it.

I don't consider CA as a 'major investor'. Instead, as a major trader. Capable of shifting sentiment and the SP quite easily. To the extent (just a wayward thought) I sometimes wonder if in the early (pre-Kerogen) days RB might not have been offered a place on the BoD! But turned it down himself, because then his further actions would be wide open to accusations of 'insider trading' and so on. And trading is how his Fund works. As a member of the BoD he'd be unable to make hype tweets about 17bn mcaps and so on without facing jail.

We PI's (unless we go through lots of hoops) can't stop brokers from leasing out our shares to shorters, spread-betting outfits, and so on. But equally, outfits like CA can lease out a lot of their shares quite willingly, without having to issue a TR-1. And I'm willing to bet my shirt that people like RB spend their time on the phone with those sorts of people, not with oil experts.

Which is something which makes me laugh when I see references to CA having an 'experienced oil geology team'. Balls. Just some hired guns ready to put in their thruppenceworth when it comes to roadshow time.Usually saying things which some of us know already, or repeating things said by Hurricane.

Oh the heck with it. The SP will be what the SP will be, CA or no CA. Maybe RB will change his tune and let the thing go hockey-stick when the time's right, just to let us little people see some action. But I doubt it.

IJWT, There's no hypocracy involved. I'm just a small-fry PI, not a major investor. I don't tweet, but if I did, whatever I said would carry no weight. I don't have a tame hack on the FT to repeat controversial comments about the HUR Bod. There's the difference.

Wellwell,

" you’d not **** on him if he were on fire...."

Yes. And I stand by that.

Of course there is the inescapable fact that were it not for CA's initial investment a few years ago, Dr T might have had a hard time getting his 'train set' running.

However, RB has shown his colours quite a few times now, and the latest TR-1 is proof of it. He has no interest in supporting Hurricane Energy's endeavours, simply making money for his Fund (and no doubt himself) by trading their shares. And his holding is sufficient that his trades can influence the SP.

I consider his tweets to be as honest as Cassius' speech in a certain Shakespeare play... And no more 'honorable'.

I agree with Biffa's distaste for major investors acting as traders. Unfortunately one must be realistic and accept that there's eff all a BB post from a PI can do to change such a situation. Doesn't mean we have to like it, though.

Biffa, "I woul prefer for larger shareholders not to trade the stock". Precisely. That in essence is just the point I was trying to make.

asitis49

"CA increased their holdings from 4.75% to 5.01%.
About 5 million shares... Any comments."

Yes. Our 'major shareholder', having worked his position down to a 'comfortable level' in percentage terms for his own outfit by selling into rises has now changed tactics. He's now shorting this thing something rotten, but given the size of CA's holding it doesn't have to be declared as a 'short position', he's just using his own company's shares held.

Check the last CA TR-1, and its date, against the SP chart since the start of October. It's quite transparent, and don't doubt it, the various big holders doubtless phone each other at least once a week.

Don't get me wrong. He's making himself a lot of money, and that's the name of the game. I don't criticise him for that. And he doesn't give a flying fig about PI's like ouselves, and if I were in his position, neither would I.

It's just the way he goes about it with his ramping / deramping tweets and attempts at 'activism' which I find frankly distasteful at a 'human' level, which is why I wouldn't p**s on the man if he was on fire, no matter how many tax-break donations he makes to Charities. (Which organisations aren't always noted for diligent accounting. I hesitate to use the word 'honest')

Anyone who believes that CA selling is a bad thing and a reason to sell is as crazy as anyone believing that CA buying is a reason to buy.

I've got my stack, regret missing the October opportunitity to trade, but I don't have the same contacts-lists as Mr Bernstein. Nor the bankroll.

One thing SHOULD be noted however, In My Humble Opinion, and all other suitable caveats.

Hurricane's BoD very very rarely comment at all about the SP and the wild swings it sometimes experiences on AIM. Instead they talk about 'monetization', and 'achieving full value', and I'm sure they'll drive a very hard bargain on that.

dh, yup.

All this nostalgia is fine. But there's an rns posted on the HUR website...

Okay, this is 99% off-topic. And I know it's not the weekend, which is the usual O/T time. But I've got a long drive south tomorrow (about 470 miles) to attend a party, so I'll be otherwise occupied.

This will be one of my usual long posts, so people who can't read quickly can skip to another thread now!

Christmas is coming, and when it arrives the Beeb will no doubt roll out its usual stock of old film fare. The Sound of Music, The Great Escape, etc. Back in the distant past, I liked re-watching The Dambusters. And also had a copy of the original book.

But a review in The Times has pointed me to a new book about the entire operation: 'Dam Busters' by James Holland, pub. Corgi. And the thing is, it's a completely 'new' thing, because the original by Paul Brickhill was written decades before the full story was realeased from an Official Secrets Act cloak, and before the Freedom of Information Act was instated.

And it's fascinating. Utterly rivetting. I'm only a fifth of the way into it, but it's a reason I'm only posting sporadically here for now.

Right, it's nothing about the oil industry. Instead an ultimately successful military operation that took place 75 years ago.

But here's a funny thing. While reading, I can't help drawing parallels with the Hurricane Energy story so far! It's uncanny.

It involves (amongst many other things) a person considered a 'mad scientist' by his detractors, even though he already had a solidly founded and recognised background in his field. His detractors included some very powerful people in prominent places. It involves raising funds and diverting resources from elsewhere to get proofs that the concepts were sound and would work. It also includes a thing called a Lancaster, how the operation was a resounding success, and had a massive strategic knock-on effect to the UK in general in their struggles against assorted hostile foreign powers.

I could continue, but won't bother.... Or at least, not for long.

Reading this 'thriller' (which is fact, not fiction) is (I find) great for personal morale in some gloomy times!

I highly advise putting it on your Christmas - stocking wish list, or simply buying it now, to keep your minds off the SP, Brexit, Paris burning, and stuff like that.

Fred_Bloggs,

A very interesting post.

And fully appreciate your not wishing to divulge who you're working for in your earlier one. Shows you're a pro.

" Centrica is most probably going to have to divest it's Spirit Energy holdings to just survive longer term. "

And that's interesting. Let's face it, the notion of Centrica being subject to a TO is nothing but speculation for now. But rather agree that 'They are the rump of the old British Gas empire that nobody really wanted.'

But if they 'divest themselves' of Spirit, who might that be to? Especially as Spirit is consortium owned? And is now financially tied into the Hurricane story, 'with no considerations outstanding' (quote) despite red herrings (lies) being spread here about their farmin being dependent on this that and the other.

It was the first thing that occurred to me.

Too easy to create speculative scenarios following on from this. So I won't.

Fred_Bloggs,

" I work for an E&P company none of you will have ever heard of "

Oh come on, try us!

Wintershall, maybe?

tinlode,

I know this is pretty O/T, but it's about IC engines, and this is an O&G BB, isn't it?

"'Ah yes, a HONDA engine' Yes, best choice because they are four stroke. More reliable, consistant performance, stable combustion and don't throw out so much oil and emissions out as a two stroke so are more environmentally friendly."

Honda is special. Probably about the only MAJOR caar / etc. company that although no longer exactly family-run, retains that spirit. The S2000 was one of the most under-publicised sportscars ever.

" Big two stroke marine engines operate completely differently and lubricating oil consumption is controlled similar to a four stroke engine. Yanks are slow to change their designs, any size, don't do big marine engines, use two and four stroke loco engines that were originally designed before WW2 for small warships and development can't go much further."

Oh, not sure I'd go that far! My favorite big big diesels are still Caterpillar with EMD close second. Even I know how they work! Screamin' Jimmies (Detroit Diesel) are something else, though. Assist a mechanic in taking one apart, put it back together, and there are usually a few odd-looking bits left over. The motor will still run, but just make more noise.I think this is why Halliburton used DD almost exclusively on their oilfield equipment. To deter Company Men from being present actually on the unit for casing cement jobs, and thus couldn't see when the cementer was getting things wrong, for instance. Luckily as an avid Grateful Dead fan I don't mind loud volumes, so never made that mistake.

But I'll never forget the first semisub rig I worked on. Built by Mitsubishi Heavy Industries in 1973 (won't mention the name). Mitsubishi built the hull, etc, but the mechanicals were pure yank. The main generator engines were Fairbanks-Morse: same as in big freight locomotives. The two tow-assist propulsion electric motors were rumoured to have been sourced secondhand from obsolete D-E military submarines being scrapped in favour of nuclear.

daltry,

"Nothing is going to happen before FOIL. Just find another way to kill the time gap. Go and order your New Ratcliffe Defender.....'

Whaaah! I'd just like to track down my old Series III County '88! I'm sure it's still around somewhere. Though I traded it in for a Rangerover, because (a) it emitted lots of smoke (once got hauled over by a motorcycle policeman for that), and (b) it was getting uncomfortable, despite the thousands of miles I did with it (many offroad).

If I could find it again I'd put on elliptic springs and install a Honda engine.

Diver69,

"Hurricane energy entered the market 50p per share. Here we are years later, Billions of barrels of oil, Fpso on the final leg of its journey to first oil with a share price of 44 pence? Sorry but this is being manipulated for a reason as I believe we at this point should be moving closer to £1."

Hear hear!

I personally thought we'd see a steady rise towards FoiL but it seems I was wrong.

It's still a 'trading share', but not for PI's except for 'PI 'traders' working day-to-day. Of course the big boys will be trading it, because they have the wherewithall to do so. Imho.

At some time value will out, and the J-curve will kick in. Unsure when that will be, though. I suspect a lot will depend on 'marketing' news, but equally on the mood of the 'market' at the time. Geopolitics (and the willingness of people to be 'bent' by such hogwash) has a lot to do with it, I think.

LadySonia,

"Anyone able to discuss the 'data room' ? Will any technical data be shared with Spirit and/or interested parties prior to any announcements to the market?"

It is a guaranteed certainty that Spirit had full data-room access before the deal was cut, otherwise there would be no basis for them farming-in.

Also as they may now be considered 'partners', there's no reason they should not have full access to all data up to, including, and post-EPS.

It will be a two-way process. Maybe (no certainly) shared with other stakeholders such as Kerogen (the word 'stakeholders' chosen deliberately, rather than 'shareholders'), given they have a place on the board.

Equally, BP will be appraised, if for no other prosaic reason than to schedule crude offtake per contract. Though they might not be given the whole nine yards regarding downhole data. But they'll be able to intuit that.

Certainly (imho) before any general market announcements. Real-time, even if it's just a phone call or a chat over a pint.

Cebo,

As SXX has said, the Adolo is spread-moored, so no comparison with AM. So that all had to be installed with the boat in place, along with the risers. For the AM, the mooring lines and risers are already connected to the buoy, which just requires a few hours to pick up and latch.

The 12,500 bbbl/day production is from two pre-drilled horizontal wells, as it initially will be for us.

Oh, another difference. Adolo is newbuild (other than the hull), so commissioning will almost certainly have been more time-consuming than it will be for the AM.