Member Info for BlooBird

Terrible day for SP today … one way only !

https://www.telegraph.co.uk/markets-hub/share/S165/HUR/HurricaneEnergy

I now ADUK likes a musical comment.

https://www.bing.com/videos/search?q=song+down+down+down+down+youtube&view=detail&mid=48F940635B1F1D18EA6048F940635B1F1D18EA60&FORM=VIRE0&ru=%2fsearch%3fq%3dsong%2bdown%2bdown%2bdown%2bdown%2byoutube%26form%3dWNSGPH%26qs%3dAS%26cvid%3d0e45150a0687444b83dc1d8ebf754094%26pq%3dsong%2bdown%2bdown%26cc%3dGB%26setlang%3den-US%26nclid%3d4A782BB3F262B0EC6560150CC984E717%26ts%3d1585324541916%26nclidts%3d1585324541%26tsms%3d916%26wsso%3dModerate

Maybe US will replace Russia in OPEC+ ?

https://www.investing.com/news/commodities-news/breakingtexas-oil-regulator-had-great-talks-with-opec-invited-to-june-meet-2117128

Looks like US frackers are starting to feel the heat from low WTI Oil price !

https://seekingalpha.com/news/3553903-u-s-oil-rigs-tumble-20-baker-hughes-reports?utm_source=investing.com&utm_medium=referral

Hurricane's original idea was :-
a) Discover Oil
b) Prove fractured basement concept
c) Get taken over or farm out

But from todays SP action, it's now obvious that HUR is more and more being treated as an Oil producer by the market.
HUR SP graph today so far looks like mount Everest.
It peaked today at 9:51 a.m. at exactly the same time as Brent (tongue in cheek comment ... maybe Brent is following HUR).
To me it is reassuring that, as soon as Russia and Saudi get their act together and Oil recovers, HUR SP should really take off.

MCB55
That's what I meant.
i.e. As the price of Oil drops, HUR pays Bluewater less per barrel produced by AM … thus lower Opex.
But that's little consolation when considering the amount being lost because of drop in PoO.

The RNS this morning is very reassuring but one thing puzzles me :
Why is everyone so happy that Opex is now only $17 ?
One of the reasons that it is now lower, is ( I believe ) that BlueWater get paid a %age of every barrel that is produced by AM.
It was a hell of a lot better to be paying $21 costs @ $61 Oil ( net $40) than now to be costing $17 on $26 Oil (net $9) don't you think ?!

Krakenoil
I don't think many of their customers are going to complain about cheaper oil !

When I checked the stock market prices this morning, it reminded me of a plaque that was on my office wall many years ago.
It stated :-
' Once upon a time, when things were going really badly for me and I was feeling sad and depressed, a little voice whispered "CHEER UP … things could be worse".
So I cheered up … and things got worse.'

PMO is now 17p … up 30% from its low for the day of 13p

PMO is up over 6% at the moment … so maybe RKH will start to follow.

It would be intriguing to conduct a study to find out if Muslim women (who wear the full veil) have more/less cases of flu than male Muslims.
If it is less then this could mean that the veil is acting like a mask … so masks do work.
On the other hand, if it is more then this could be because they get less Vitamin D from the sun … which could explain why Flu seems to occur more during the winter and we should all take Vitamin D supplements.

The RNS states :-
"Premier's 2020 cash flow breakeven price is under $50/bbl and a $5/bbl move in the oil price point forward is expected to result in a c.$50m move in free cash flow on a full year basis."
But later "$35/bbl oil price for the remainder of the year, the Group would expect to be broadly cash flow neutral in 2020. "

So is it $50 or $35 needed for free cash flow ?

A few people have speculated that HUR should have hedged some of their oil production … but how is that possible if every drop has been contracted to BP at 'spot' price.
As casapinos has posted, according to BMO, no HUR oil has been hedged.

Brent is up over $3 (9%) at the moment so maybe a better day today ( Tuesday).

Diver69
Will 1 box be enough ?

disagree NOT dissagree

TheTexan I disaggree
Dr Mamdouh G Salameh says :-
"The minute the outbreak is contained and the global economy resumes its normal activities, oil demand and prices will recoup all their losses."

But that's like saying that if we have to cut back on eating and tighten our belts because of problems with food delivery then, when the Corona virus has died down, we will all start eating twice as much to make up for all the food that we've missed.
Are we all going to be driving lots more miles just to make up for miles lost staying at home ?
I don't think so.

It's a shame that LSE don't segregate the filters on different BBs.
Also it would be useful if they indicated who was being filtered.
The following green message just popped up even though I've never filtered anyone on this HUR BB.

"This message has been filtered, please adjust your filters to view"

Then I realised it must be someone who also trolls on the RKH board.
I must have filtered at least 12 there … they're mostly idiots over there who post dozens of times a day, creating page-after-page of green.

The big problem with Spirit is that any buyers will have to take on “significant” decommissioning liabilities, including 26 fields that have ceased production.

As posted by lucky-lady on PMO board.

https://www.offshore-mag.com/regional-reports/article/14168427/global-ep

"Early front-end work has started on detailed engineering for Talos Energy’s Zama field development in block 7 offshore Mexico. The company plans two fixed production platforms in 168 m (550 ft) of water, thought to be the deepest for any installation to date in the Mexican sector, handling a combined 150,000 b/d of oil plus associated gas. "

"Houston-based Navitas Petroleum is set to farm into 30% of the Sea Lion oil and gas project in the offshore North Falkland basin, after signing a Heads of Terms. Assuming regulatory approvals, operator Premier Oil and existing partner Rockhopper will look to move the development forward."