Member Info for BlooBird

Spirit Energy was bought out by Sval Energi (Norwegian Co.) from Centrica on January 1, 2022.
Does anyone know how this will effect their joint venture with HUR ... did Spirit just walk away from it ?

HBR are raking it in with oil over $100 per barrel.
They will have cleared their $2.3 billion debt by next year .. shame they don't want to develop Sea Lion now that they can afford it.
https://www.proactiveinvestors.com.au/companies/news/977105/from-borrowings-of-2-3bn-to-debt-free-in-a-year-harbour-energy-transformed-by-surging-crude-price-977105.html

I'm only guessing but the probable hold-up of AM extension is financial.
I believe that Bluewater get a fee for every barrel of oil produced but it was based on the original estimate of 20k bpd.
Being that less than 1/2 of that is now being produced, they probably want to double the price.

I'm only guessing but the probable hold-up of AM extension is financial.
I believe that Bluewater get a fee for every barrel of oil produced but it was based on the original estimate of 20k bpd.
Being that less than 1/2 of that is now being produced, they probably want to double the price.

"The 27th cargo of Lancaster oil, totalling approximately 530 Mbbls, was lifted on 25 January 2022. This cargo was priced by reference to the average of the first five days of January's Dated Brent quotes, being $81.4/bbl. The next cargo is anticipated to be lifted in late March 2022."
It looks like the next cargo will be priced at $100/bbl, if Dated Brent holds at new high.
If costs are $30/bbl (only guessing) then this is 40% increase in free cash flow next month.

Largest volume for a very long time .... something going on other than the RNS.

SecretBlueprint
That's a bit naive. Do you really think that they'd tell YOU what's going on, ahead of RKH and their lawyers ?

Bubble point may turn out to NOT be a disaster after all.
https://onepetro.org/SPEEURO/proceedings-abstract/06EURO/All-06EURO/SPE-99369-MS/141072
"Of all the fields operating locally below the bubble point, reservoir damage was indicated in only two fields both of which had flowed with bottom hole pressures of about 50% of the bubble point pressure compared with a more normal minimum flowing bottom hole pressure of around 75% of the bubble point pressure."
"More extensive production below the bubble point can also have benefits in displacing oil from low permeability regions for instance and may be used where field economics do not warrant drilling injection wells. In this case high GORs may be produced."

Targa123
You should apologise to whoever it was you were calling a 'twat' and 'muppet' because you are obviously wrong ... unless you were looking in the mirror !

It seems to indicate that not much will be happening for a while else it could be construed as insider trading.

I've had a further thought about the Falklands since starting this thread yesterday.
If they were to become part of the UK then they would be part of NATO ... meaning that if ever Argentina tried to invade FI, the Americans would come to their defense.
https://www.telegraph.co.uk/news/2021/12/23/time-give-falkland-islands-seat-uk-parliament/

An Brutish MP wants the Falkland Islands to become part of the UK, with their own MP in Westminster. That would mean them probably coming under the control of UK Oil & Gas council ... an absolute disaster for SeaLion.

Muchaboutmoney
Re. Isobel etc. ... 65% now belong to Navitas
In latest RNS
"Rockhopper and Navitas would seek to align working interests across all of their Falkland Islands petroleum licences, with Rockhopper at 35% and Navitas 65%"

Is it a coincidence that MoD have decided to boost defense in Falklands ?
Royal Artillery's new Sky Sabre missiles 'can strike tennis ball travelling at speed of sound'
One battery of around eight Sky Sabre systems will be deployed to the Falkland Islands.
https://www.telegraph.co.uk/news/2021/12/06/royal-artillerys-new-sky-sabre-missiles-can-strike-tennis-ball/

"Every company listed on the UK stock exchange will be legally obliged to produce annual plans for becoming more green or risk financial penalties, Rishi Sunak will announce on Wednesday."
RKH have already solved that problem ... haven't produced any carbon for years and at the moment look like they never will.

SecretBlueprint
'Ombrina' means 'Umbrella' in Italian.

rpoodle and cyan2, thanks for the links.
For some reason Mutchaboutmoney is ranting on about £400 million cash even though I quoted $240 ... I've since checked and the amount was actually $231 million.

Mutchaboutmoney
Didn't PMO pay RKH an initial amount of $240 ... isn't that liable for CGT ?

Maybe RKH should approach Repsol as a partner ... I'm sure they'd love to show 2 fingers to Argentina after they nationalized their assets in Argentina and initially refused to pay any compensation.

HBR wrote in RNS
"The Group has decided to explore the options to exit the project and its other license interests in the Falkland Islands".
That's not quite the same as 'walking away' as some seem to think.
Surely they'll try and rescue some of the finances that PMO have poured into the project so far by trying find some-one interested in their share on the cheap ( such as Navitas).