Member Info for Bubblepoint

""TURKEY LATEST: Operator AME advises that Pinarova-1 access road and site preparations are completed. Updates to follow.""

Translates to : The site is of such minimal importance that we had to send in the strimmer gang to clear the growth from the area as no one could actually find the wellsite when inspectors recently over to ensure it is fit for purpose !!

ZZZZZZZZzzzzzzzzzzzzzzzzzzzzzzzzz

Fekin SpaceX could build a new launch pad, build a new rocket an cargo, and already have launched it in the time it has taken this shower of incompetence to just get these BIG guns into country, never mind to location lol.....

Noelplz,

Ohhh finding the data ids not a problem, though I barely bother to look these days, since they clearly are struggling to get it to previous peak levels, and the almost certain reality that regardless of what they do going forward at SLBY, it is likely to ONLY ever maintain current levels at best.

Not that they are bad, just not great !!, nothing to do with that, it is far more about future upside, which I cannot see.

""Can anyone tell me the flow rates for the last few days please.""

Singhie seems to have lost interest in posting them, probably because they are not where they need to be.

BUT, I can update you on the gas prices, currently ALL months are UNDER 80p !! Putin or the Houties need to stir up more trouble I guess !!

UPDATE !!

UKOG successful outlook is measured by the number of Trades in 2024, 3, ys THREE hours of trading = 0.0000000000000000000000000000000

Which, for those interested in potential stats also equals the most likely amount of oil they will see from the Turkey shoot !! 0.00000000001bbl/day

UKOG successful outlook is measured by the number of Trades in 20241hof trading = 0.0000000000000000000000000000000

Which, for those interested in potential stats also equals the most likely amount of oil they will see from the Turkey shoot !! 0.00000000001bbl/day

You forgot to add that they will also likely step up production to an all new level at the confetti factory !!!

Anything else within their totally pointless and valueless tweeting is just the usual pump from the grand master of spin !!!

No one spouting it was a buy nonsense for the 432,222,222 trade at close lol !!!!

Someone ditching big time this week !!!

Where's that Mannan dude, still not answered my question from yesterday lol.... WHO is ""WE "" from his post before they were deleted lol....

OP,

Just because it doesn't use the word hedge, which is basically nothing more than setting a discounted fixed price to protect the producer from volatility, is basically the same as "fixed" pricing, which will almost certainly also be at a notable discount, it's basically the same, but this time to protect Trafigura, all Angus really end up with is a clean line in the sand on all the old carp, and enough left over to satisfy Trafigura payback, maintain the field and keep the hobnob cupboard full !!

OP,

The problem as always, is the lack of fine detail, they kinda merge a lot of the information into blurriness, but in my book, Dynamic pricing, hedging, or whatever is NOT (in my book) to do with benefitting Angus, more to do with Trafigura ensuring they get a decent layer of cream off the top, and to protect themselves. Angus is not in control at all.

OP, it states

"A dynamic rolling gas price protection programme has been agreed which will provide protection at least until the scheduled maturity date of the Refinance Facility."

Which is basically a fudgy way of fluffing over the word "hedge" well it is in my book anyway lol.

OP,

Yes I totally agree, Mercuria do hold all the cards here, and I expect they will not give it up easily, if they do manage to crowbar it off Mercuria then the batten of control simply passes on to Trafigura.

As per the post title, I don't think ANYONE is expecting this deal to fail, meaning it will get signed off at some point in Jan, the real question is at what cost, meaning Trafigura ultimately wins control of the production and anything Angus does at SLBY for at least the duration of the financing and associated total hedge.

Ultimately it is likely the "cost" of consolidating the old hedge and any associated legal bindings that will influence the almost certain "discount" applied to the new full finance term hedge.

It will be very interesting to see if Angus actually provide the detail or just froth over it with lots of waffle, my gut feeling is the combined interest and associated likely discount applied on the new hedge is likely going to be fairly costly & won't make for great reading, and why I expect the eventual RNS will be very just bullet point, with no real detail that retail punters really want/need.

Still, any deal is better than the carp they have right now.

The month of January isn't far away so we should learn more quite soon, Bubblepoint.

I expect the "date" assigned to the "payday" loan end of extension will be a factor in the "Trafigura" sign off timeline, but I still expect that ALL deals will need to be tied in to a deadline, and I doubt ANY finance will be released until all loose ends are dealt with fully.

Ocelot,

I would "expect" that Trafigura must have had some reasonable round table discussions and "agreement/s in PRINCIPAL" prior to that RNS, but clearly it also indicated that it was still a "work-in-process/progress".

I doubt the "payday" loan clearance will be much of an issue as long as it is cleared in full within the specified timeframe, I also doubt Forrest will but any hurdles in the way of his "part" payment. I would not be surprised if there was some "hardball" play to get closure on the original hedge, along with them possibly also wanting to quash the 8% royalty with some kind of play in the deal to close it out. I fully expect them to play hardball, and I would say it has the potential to be the "fly in the ointment" too.

Ocelot,

Trafigura has a fair bit of work to complete before final sign off, meaning for them to ensure all parties will be satisfied with being closed out, and getting that original hedge dissolved so that Trafigura has full control through total dynamic hedge on ALL production.

I doubt he sign off will happen until those factors are legally satisfied to an exacting completion date that suits all parties.

PMSL, it is the equivalent to the clock ticking down in the dentists waiting room, as you wait for a root filling without anaesthetic lol...

Well I am not sure what there is to be disappointed in with that deal, it was literally about as good as it gets, OK not a Major, but still with a highly competent outfit, Turn around it will !!!

More than likely some outfit dumping a shedload in readiness for another confetti factory placing by the grand master of SSpin !!!

SP/MC 60% down in just 6 months !!

May be looking ripe for great re-entry level at anything in the current range.

Yes Ocelot,

And it is EXACTLY WHY you nor anyone else should put an ounce of trust in the likes of Leni"laughing"Gas, especially when the Stetson wearing bullshiner seems to think the Kimmeridge IMMOBILE & IMMATURE geology has almost no producible hydrocarbons, yet he still wants to spout on about 8.2billion barrels lying under the licences, yes there may be small pockets that have migrated into small geological traps bound within the Kimmeridge, but it is tiny, and it only goes further to demonstrate that he is a born P & D specialist.

He is most definitely a fine example of a leopard never changing its spots, and more fool you for latching on to his carp.