Member Info for Bubblepoint

Pmsl, of course they would say that !!!

""Bubbles can you not answer the question with some sincerity. Production is up last few days so it is a genuine question.""

Fartoomany, production is NOT up so to speak, it is simply around the same as it was back end of last year, in regards to you asking anything genuine or even logical, well that is highly debatable.......

""Any views on the production levels increasing when they said it would be 60% for January? @bubbles can you check your ChatGPT account and see if it offers any insights please, namely could they being seeing production uplift this soon in the process?""

The ONLY increases are in your fantasy/wet dreams Fartoomany, add to that, the likelihood is that the draining of banked liquids is on one well, and therefore I truly doubt it will raise the overall production for the field by more than 10%,, AND that assumes flow without velocity string, meaning drain the liquids and throw it back on full production while there is limited liquids in hole.

IF they are flowing through a "velocity string" then expect a lower overall production rate FACT !!!!!!!!!

""Suspension took place 12 days later, on 19/05/25, following the leak about the potential RTO.""

What RTO ?? Ahhhh you mean that smokescreen they dreamt up to cover over the DEFAULT issue !!!!!!!! pmslllllllllllllllll

""All the negativity, the delays, the operational missteps are already well understood and largely priced in""

You gotta be avin a Larffffffffffffff !! how can it all be priced in, when they deliberately went into suspension just prior to DEFAULTING on their huge debt pile ?

What you mean is NONE of that is priced in, nor have they concluded or informed the market of just HOW they are gonna fix the default with Trafigura and OTHERS that are owed significant sums by this shower !!!!!!!!!

Great, just in time to offset the production disruption that they will endure while trying to remove banked liquids, something they should have probably thought of doing LAST summer when prices and demand are at their lowest, and while they "were" enjoying the latter end of their generous "grace period" lolol

You mean, they will be "lucky" if they still got a shirt on their backs !!!

Sort what funding ??? they gotta sort out their finances relative to a severe default on their current debts first !!

Production will do well if it is enough to offset the lowering gas prices going into the spring, and by the end of summer they will be back to being choked out on liquids AGAIN !!!

I don’t use telegram hits

Pmsllllllllll

Market headliner, will obviously not affect this shower coz they never had a hope in hell anyway ,,,,

BP has also cancelled several hydrogen projects, including a hydrogen and carbon capture project in Teesside in north-east England

Fartoomany,

It does not matter HOW you try to fill over the canyon sized cracks in Angus world, the foundations were done extremely badly, therefore ANYTHING you build on top of those dire foundations will continue to crack, crumble and tumble.

YOU can pray all you want for your 0.5p lol,,,,, shlagggg anyone off who doesn't agree with your dreamy carp lol,,, the results will still be the same, an undermined asset with NO retail upside... enjoy lol

""You’re mixing historical cash flow under suspension with forward cash generation post-restart""

Ermmmm no I am not mixing anything up, this shower has squandered every penny they ever made from SLBY, be it under suspension or prior to suspension.

It is clear PRIOR to suspension that they were ermmmm "consuming" virtually ALL revenues, proven by what was in the pot "immediately prior to DEFAULT suspension", where they had not paid ANY debts or royalties from revenues for the 12 months grace period, When in reality they should have been swimming in a pool of banked cash...

Any revenues earned under suspension are going to be fully exposed to lenders and they WILL want their pound of flesh,

Pmsl, you mean you didn’t get the answers YOU wanted so they don’t count in your book lol,

Fartoomany,

Any monies that have accumulated in the pot since suspension (considering there was very little in the pot prior to it) is owed to various creditors, royalties & Forrest, along with no doubt an unusually expensive coil tubing workover to be paid for from it.

Prior to suspension they showed almost no funds in the pot, now remember they were paying royalties via shares/dilution, so no cash, they stated the booster etc was to be funded from the original trafi loan, AND they had a 12 month grace period of no repayment on the main Trafi debt pile. yet they had no funds left in the pot after the 12 month grace period.

SO if they cannot even bank enough to cover Opex and what was a modest debt repayment plan prior to suspension, then HOW the ferk do you think they gonna do that now lol..... AND have excess for anything else plus some retail upside lolololol....

They are royally ferked,,,, and the ONLY outcome is Trafi & the others set it up to ensure they keep getting some payments, with a little to keep the lights on and nowt else left in the pot......... THAT is the reality........

Anyway, those that constantly look to battle my factual posts, what I suggest is !!

If you are SO SO SOOOOO confident this is all going to be rose covered cottages,,, a massive rerate, massive flow increase, massive revenue increase, massive reduction in monthly debt payment levels etcccccccccccccccccccccc etccccccccc then no need to read anything I post or others that post factual info that is deemed negative by the pom pom brigade... JUST CHILLAX,,, wait,,, WAIT some more,,,, Ohhhhh and maybe SOME MOREEE !!! for this miracle to happen... its all good in the hood !!!!!!!!!!!!!!!! lololol

Retail has ALREADY LOST fartoomany, FACT....

This SLBY project HAD all the hallmarkings o potentially be a small company maker, IF it was managed well from the start, AND they DID have a decent plan at the start, but greed got to a few and then it was simply a race to drain the asset value/undermine it with really bad debt decisions, dilution enough to sink the Titanic, hedges so bad that it both cost them a fortune and lost them a fortune...stupid life royalty deals for their mates at the time, Forrest is probably the one who on a personal level made the most from this sheite show....

It should have and could have easily done 5-10p back in the early SLBY days, but as said, they couldn't stop themselves.....

As for any current monies in the pot, that Trafigura might say keep hold off (lol), well if their drilling costs and management are anything to go by, then I expect they will make sure this consumes any funds available.

Also there is a building pile of royalties to pay that are also in default, so they will likely again pass that on in shares so it screws retail AGAIN,,, or it will need to be paid in cash... AND Forrestgate is still open for his payout too,,,

It is likely there is a coil tubing draining operation heading to the cashpot as we speak................

Lenders don’t back workovers and consolidation for fun…

They are not backing it because they want too, I don't even deem it as "backing", more backed into a corner & they are simply dealing with a very poor management team that technically defaulted on the very FIRST payment on what was a fair loan deal, AFTER a VERY GENEROUS 12 month grace period too....

THEY want their money, and they will either get it all back and some, or they will end up with a storage facility for the price of the debt, they will not lose overall. THE only people that will lose are retail, even the shower that run this outfit have not lost, they still get paid, they have taken their bite out of this apple a long time ago, thus UNDERMINING the asset value through insanely bad deals, poor operational practices, massive, MASSIVE overspends on anything they touch etc etc etc,,, and the swill trough brigade who helped dilute this into the multi BILLIONS in issue

MR,

I can assure you I am not sitting on the fence, there is no miracle from any workover they do, simply because they cannot change reservoir pressure depletion and the effects of breaching the "dew point" when flowing.

Add to that, what will likely happen if they are "only" draining the liquids now, and not installing any form of velocity string as a more long term future liquids evacuation method, will result in a likely short term uplift in surface flow rates, but not significantly greater, that will then fairly quickly re induce liquids and banking of liquids to choke back the flow AGAIN.. only a little worse each time.

If they do flow through any form of coil velocity string, then it will almost certainly NOT see an increase in flow/production, the velocity string will simply just mean most liquids induced from flowing will flush out to surface, but the overall gas to surface will be less per day, but will extend the flowing life far longer.

The reality is that SLBY will continue, but only as the repayment facility for Trafigura, and retail will see NADA,, simply because it is not capable of producing more than what it takes to maintain the field opex and pay back a much larger loan (due to the default), that will likely be set at a repayment rate to match the found optimum production level after this workover.

It IS a dead duck for retail..................

Lol, verification from the chair whisperer lol...

Anyway, for them, I "hope" they went for a decent size coil, and not say 2", which is common for general coil ops, and would be fine for draining the liquids, but would be VERY limiting for a velocity string evaluation.

If they have only ran 2" then in my book it would make a velocity string evaluation test period borderline pointless and would provide disappointing daily gas production numbers. It would need to be more like 2-7/8" for a proper evaluation, but it would be far more costly than 2" and we know how this shower operates !! usually with cheapa55 method first, that usually costs 3 X in the end and still needs doing properly.

It is likely that once coil is into the liquids, they will put it back onto production, as well as simultaneously draining liquids.

Meaning that they will stop "that" well production while rigging up on the well and running the coil in to bottom, and then once in position, they can put the well back on flow, and simultaneously start the draining of liquids through the coil, that will likely be fed (tied in) straight into the plant separator, to split out the condy & water to go into the site storage/offtake tanks.

Once they start getting free gas coming up the coil with liquids, meaning the end of the coil is no longer engulfed with liquids, then they may try to maintain flow back through coil of liquids and gas to test the velocity string potential, and test what the induced liquids rate is at different flow rates, being the more you open the well, the more you drop the pressure in the well, the more you induce liquids, etc etc...

""Putting in the Compressor in early 2025 seems to have halved the fluid production from over 70 bfpd to around 35 . However it's been climbing again since July 25 and by October""

Mirasol,

As said before, they did the egg before chicken, and should have installed and trialled velocity strings before booster compressor, and the "reason" for that is obvious, the booster drops the flowing pressure notably more than under natural flowing conditions, under natural flowing conditions they were already breaching the "dew point" and inducing liquids.

Installing the booster and dropping the flowing pressure more only induces greater fluids to be created, thus why they are forced into doing what they are doing now, but that will need a more permanent solution, not a quick draining of banked liquids and flow again, as it will simply slowly build back up, and the more the natural reservoir pressure depletes, then the more it will also induce.

It isn't a shortage of gas that kills such fields, it is near always liquids.