I find these sort of statements abhorrent. However, i suppose it wasn't serious. That kind of solution should only be used in exceptional circumstances, such as anywhere in the UK with a leave-voting majority.
And more from BH's post ADVFN Dr T on Lincoln result:
"We are delighted with the results of the Lincoln Crestal well. We have confirmed the presence of light oil which can be produced at commercial rates. The Lincoln Crestal well is now planned to be tied back to the Aoka Mizu FPSO next year. This would make Lincoln the second producing basement field in the UK.
"Based on the result of the 2016 Lincoln well, RPS Energy assigned 2C contingent resources of 604 million barrels of oil equivalent to Lincoln. This successful result brings us closer to monetising this huge resource."
So Dr T saw the 2014 6 well result result as producing at: "flow rates in the upper range of our pre-drill estimates". I see today's Lincoln result as very similar (almost identical) to the 6 well result, so a stonking result for me.
Dr T's comment: "This successful result brings us closer to monetising this huge resource." I think it does too. Good figures from the EPS on the 20th? and one more successful drill and it's a slam dunk.
1/ The maximum sustainable flow rate of 9,800 STB/d (ESPs).
2/ The well also flowed oil at 5,300 STB/d unaided (natural flow)
3/ Oil type - 38(o) API
4/ Produced water - 340 barrels of drilling brine were produced during the test of which 20 barrels were recovered during natural flow Dr T on 2014 205/21a-6 Lancaster result: Dr Robert Trice, CEO of Hurricane, commented from the Sedco 712 drilling rig: "I am delighted to report the successful completion of our testing operations which have achieved hydrocarbon flow rates in the upper range of our pre-drill estimates. The maximum sustainable flow rate of 9,800 STB/d is particularly impressive as it was achieved despite being constrained by surface equipment. Whilst the artificial lift rates are important, the fact that is a clear demonstration that Hurricane's plans for progressing to a Lancaster field development are technically viable. I consider this year's operational result to be major step in further de-risking the Company's 2C Contingent (444-470MMboe) and P50 Prospective (432-442MMboe) resources and very important as we seek to enhance shareholder value. This successful outcome reinforces the potential importance of basement resources as a strategic resource for the UK."
Regarding HUR, i'm hoping for 60p. Regarding politics, i listened to R4 this am. It was marvellous hearing how Boris and his cronies lost his first ever vote as PM. Throwing out lifelong Tories like Ken Clarke and the grandson of Churchill shows the UK what fascists the Tories have become. Brexit Prty without the logo. Down with this govt.
Members. 4 things are certain. 4. you will be moaning about the PMO SP.... I've bought back in just since i enjoy your regular rants here. Was very sympathetic until you regularly dissed ENQ on the ENQ board..
"A comprehensive set of independent expert reports on the Sea Lion project in the North Falklands Basin has now been completed. These, together with the Preliminary Information Memorandum, will form the basis of a loan application package which Premier plans to submit imminently to export credit agencies for the senior debt component of the project financing structure".
Magnus and Kraken FPSO - good news, debt reduction, bit disappointing...but Kraken's improvement should start to show through in revenue and FCF shortly after a difficult Jan/ Feb but great March/ April