Member Info for adoubleuk

IJWT,

"AdUK
Haven't had time to properly look at the Edison interview but on a fly by review, am I right in seeing he mentioned a 2nd FPSO.....? That would be multiple FPSO's on the Rona Ridge......shurely shome mistake....."

I advise you to 'take the time'.

Though it's a rather odd 'interview', in that one never sees the interviewer, nor hears the questions which the CEO is 'responding' to. Shot against a plain white background, as well, which is most unusual.

I can't help but get the odd feeling that it was filmed at Lower Easham.

But yes, definitely mention of another FPSO on GWA. So (per earlier post) I have to retract earlier thoughts about more than one boat. But as mitigation, wish to say those were before the 'Spirit Deal' which has shifted the goalposts considerably. The accelleration of work indicates a 'floater solution' being the best in what should be considered 'short-term'. Ie the next three years.

I'll almost certainly be pushing up daisies before the 'Hurricane Hub' comes to fruition and all of Rona Ridge comes online. But I still see a lineup of steel-jacket platforms marching off into the distance...

In my earlier post on this topic I said I was prepared to eat humble pie. But I've changed my mind. For starters I'm not homosexually inclined, secondly I'm not sure Steve Marriot washed too frequently, and thirdly I try not to dwell on the past...

Mr Jim,

"AM will only be in Rotterdam a week 2 max then that would only be if there was extras."

Please explain 'extras'. (Or rather, don't. It's Rotterdam. We don't need to know.)

I'd like to recommend DaveWin as 'shipwatcher of the month' for his latest post. Bravo! All of us watching AIS while forgetting basic things like signal flags, which will be visible to anyone in Dubai who can see the ship.

I hope she hoists the Jolly Roger on leaving port...

Joe,

"You'll be behind me, I'll do it so fast I will need a skin graft to repair the button burn on my finger."

But let's be reasonable. Don't call your surgeon for an appointment yet. Anyone with an IQ bigger than their hat size knows this SP isn't going to suddenly jump to three quid tomorrow!

Joe,

"Well it doesn't matter whether you think it will or won't happen, your personal view doesn't remove the possibility that it could. "

Totally agree. But if the SP suddenly goes to three quid I'll be breaking my computer hitting the sell button!

JB,

"Would a £3 bid before FOIL tempt you ? "

What sort of question is that? Anyone currently holding these shares would break the door down and sell them to someone offering such a sum. Unless they are totally thick between the ears.

Trouble is, I don't personally think it will happen...

Biffa,

" If Warwick fails for any reason, the SP will be in a much better place to take the hit, having been boosted by a successfully producing Lancaster EPS and a good result at Lincoln (assuming they both go to plan of course).

For the avoidance of any doubt, I'm not suggesting Warwick will be a dud, as I'm very hopeful from the CPR that it will be a real winner. "

Forget the CPR, just look at the facts. Warwick will not be a 'dud'. It's more the question of the quantitive results. And I'm beginning to get an odd feeling that GWA is bigger than Lancaster, hence the Spirit / Centrica deal. Though Lancaster (just upcoming the proving-ground) mustn't be confused with the GLA which goes all the way up to Halifax. Which if the postulated connection is proved is monstrous.

The only trouble to me is I won't see the whole thing come to fruition, 'cos I'm getting older, one year per annum. It caused me great sadness to see the dismantling of the Murchison platform hitting the cover of 'World Oil' last year, 'cos I was involved on the first well drilled there.

But time passes, so good luck all in these new ventures!

Who dares wins.

SXX,

"I've been curious about the "hub" since it was mentioned by Dr. T on a Malcy interview - this could ultimately tie in with
Schiehallion and also save BP using an FPSO at Schiehallion if they were to buy GWA/GLA ?"

Yes. Or rather, no. The Glen Lyon's going to be there for years yet! Also Foinhaven. But the forward-looking WoS picture is fascinating. It could make KSA or Russia (with their political problems) look stupid. And of course there's the brexit thing coming up.

Really, I dunno! But WoS is people like Dr T sticking the big finger at all the other turkeys. And I likje that.

Biffa,

"So, as I alluded in my recent post any delays in Dubai are not down to the Spirit deal. "

That has been backed-up by a number of sources. No last-minute modifications to the FPSO. 'Scope of work' is unchanged.

Anyone suggesting otherwise has no knowledge of heavy engineering. Plus any 'perceived delay' is unfounded, because such things cost money, which the customer wants to alleviate. DYOR.

Rangers,

"Last time we saw 60p was May 17 and I happily bailed given the need for finance. Will I be bailing this time? Absolutely not. Multiples of 60p in the offing now that finances are in a far stronger position and revenue is in the pipeline. Well, someone had to say it!"

Completely agree. And the way you express it, 'bailed need for finance', plus the the tech stuff you've posted here in the past shows that you're a 'genuine investor', Same as I did.

The more this goes, the better one feels, on an old, maybe 19th-century sort of way. Back the right horse, sure. That's the 'gambling' bit. But invest in ensuring the horse gets enough hay? That's different.

Hitting 60p today is VERY INTERESTING. But unlike May last year I'm not selling a single share!

Rangers,

"Another FPSO then. Seems the Admiral was correct. Humble pie and all that."

Yes, agree with you on that. About the humble pie, etc. (Though I do advise The Admiral to watch this https://www.youtube.com/watch?v=AuHBkNA9Wio)

That verbal CEO information is groundbreaking and hugely informative. I won't bother expanding on that. But it demonstrates that the recent farm-in is of great importance, and the pace has picked up enormously. A second FPSO on GWA only makes sense with the Centrica / Spirit deal; and in parallel, a pipeline tie-in. Bigtime stuff. The 'Hurricane Hub' as was mooted years ago...

Maybe my 'FoiL sweepstake' SP prediction could be wrong.

Practitioner,

" The Aarhus arrived in the Dubai dry dock at 11.46 hours this morning via Sharjah AE according to Marine traffic which I have bookmarked. This is an oil products tanker according to the info, so hopefully the Aoka Mizu is re-fuelling and fingers-crossed tomorrow is sail-away day. "

I've been following this and related correspondence today with interest. I've also been to assorted sites relating to DDW for information which I haven't been able to properly resolve. The inner question in my mind being this...

It seems odd to me that DDW wouldn't have its own land-based bunkering and provisoning services piped-in. Bringing in a vessel from another country just to fuel-up a boat in dock sounds very logistically inelegant to me.

There was a 'false alarm' a few weeks back when someone on another BB speculated that a LNG tanker coming alongside might have something to do with 'our' operations, when it was just in for repairs.

I'm not saying this is the same. Just that it would be good to get some info from people 'close-up' (Tarkers?) before jumping to conclusions which might be wrong.

While I'm on this keyboard, today's blue close is obviously very nice to see! I had the happy occasion to meet with a 'genuine investor' in HUR and his lovely wife on Saturday, and we were in agreement that the 'slow tick-up' we're seeing lately is good to watch. Even if neither of us really understand it, occurring during a somewhat news-sparse period. I suspect that maybe a forthcoming Poo hike and an almost-inevitable 'oil shortage' in a not-distant future due to the last few years' downturn might actually be starting to sink in...

Hecate,

"Happy Days"

I remember seeing The Stranglers playing support act for Patti Smith in (ummm...) 1976, I think. Camden Roundhouse.

ijwt? at no point was i suggesting that nluewater / HUR would leave the AM in dubai a moment longer than absolutely necessary.

IJWT,

"The window for sail away was once Q2/Q3 2018 and subsequently tightened to Q3'2018. "

You are being factually wrong. I have pointed this out more than once over the last few weeks. If you look at the company presentations, the window is marked 'READY for sailaway'.

Please don't ask me to define exactly what that means, 'cos I don't know. Phone Lower Easham instead, is my advice.

Snail,

"I'm thinking that should the trials not start before the month end that we are owed an explanation.How does everyone else feel ?"

I feel likewise. I disagreed publicly here with one or two people about the company not being open to all shareholders with a recent 'conference call'. But this is slightly different.

However, first a caveat. RNS's and company presentations (this doesn't just apply to HUR) are always ringfenced with disclamers at the bottom of the page regarding 'forward-looking statements'. In other words, such statements aren't some kind of 'promise'. We can't take the company to court in the event that something they 'anticipate' happening doesn't occur on a specified date.

As our friend Extrader has pointed out, the end of the month isn't until Sunday. And in the recent RNS the company 'hopes that' sea-trials will begin by then. We're not there yet, so why all the hand-wringing?

But if it turns out that there is some sort of delay of a significant sort (though I'd like to underline 'significant'), it might be prudent for the company to publicly inform shareholers about it. If for no other reason than to avoid the telephone switchboard at Lower Easham getting clogged-up with incoming from people wanting to know what's going on.

But right now, no delay.

Wessex,

"offer me one BP share for every HUR share and I'll bite yer hand off..."

...though I'll be right beside you!

Funny, isn't it? The way the SP starts moving and this BB starts filling with the "I"m going to order a Porsche" mob (showing lack of taste and automotive savvy) plus people stating SP predictions beggaring belief.

If this thing even makes it close to a quid, by that time my holding will be only about 20% of what it is now.

Wellwell,

"Just to clarify the The Rolvsnes discovery was tested for 10 days and would not constitute an EWT in my opinion."

That might be your opinion, but unfortunately it's not that of the OGA / DECC, who approve / reject permit applications regarding all well operations on or offshore UK. This is an excerpt from one of their documents providing guidelines to Operators wishing to apply for various permits:

"NOTE : Section 12 of the Energy Act 1976 requires a licensee to obtain the prior consent of the Secretary of State to any venting of gas. A licensee must also obtain the Secretary of State’s consent to flaring gas in accordance with the terms of his licence. A well test producing from any one interval over a period in excess of 4 days is considered to be a long term test. "

I suspect the 'definition' used by the Norwegians is much the same.

Google is a wonderful thing, sometimes! If you want to check above quote, one starting point is https://www.gov.uk/guidance/oil-and-gas-petroleum-operations-notices

Esteemed Rev,

"ADUK - love your message to the MMs - can I second your request?"

We 'Andys' have to flock together, sometimes!

I hope the MM's will get the message....

Wellwell,

"For anyone wonders what “hydrostatics” means I have often described it to those I’ve spoken to in theatres (I’ll avoid the phrase lectures) as this.... Imagine standing with a plastic drainpipe in your cupped hands that’s 1km high. Assuming you’re strong enough to hold the weight of plastic filled with air....then imagine it filled with water.
That’s it in what I consider it’s simplest form."

Stick to completions, mate! (For the uninformed, a 'completions engineer' is the person who orders up the ironwork shoved into the the well after it's been drilled, cased off, and proved). Or maybe the person reporting to the person who actually does that, in BP's offices.

Or maybe just calling Baker to order the bits and pieces...