Member Info for chilting

I totally agree bandanaman but I don't think that the additional investment was ever going to come from the UK - so there is still hope - maybe on of the big Australian mining giants will be willing to invest - it makes great sense for their business model - the iron ore price fluctuates with supply and demand all the time - adding polyhalite to their portfolio would do wonders for their cash flow.

I promised Kraken that Enquest would be back over 20p when he came back from holiday - so today is the first blue day with many more to come - it seems all the intelligent shorts have closed now.

After yesterdays high volume and fall plus todays attempt to push the SP below 3p and the subsequent recovery it seems to me that we can expect some shorts to cash out today - they seem to have already started - hopefully!!!

If the forecast is right it looks like they could have a weather window from next Tuesday for a few days - so maybe we will find out more in a week or two in an RNS - I guess the real issue is if the structure of the rig has been damaged.

Thank you MO
So its quite a complex operation - we see from Hitman's post below that there is certainly plenty of oil left in the field to motivate the fix.
The problem is that the field will probably be out of action for some time because Enquest won't even attempt to do anything until the spring.

Thank you Mommur - it seems Enquest have a few decisions to make - not good - also it sounds expensive.

members - I didn't say you were a troll but you are trolling these boards at the moment and I am fully able to make my own investment decisions without your help thank you.

There is a very thin dividing line between opinion and trolling and you have crossed it - mainly by being unduly repetitive - in other words - give it a rest mate!!!

My reading of it is that the old tank - that is probably heavy because it is filled with water - is firmly attached to the structure of the rig but the attachment to the sea bed has become disconnected or is in danger of becoming disconnected.

The simple solution is therefore to cut the tank away from the rig to remove the dead weight.

When considering how long the oil boom will last in the US maybe we are looking at the issue in the wrong way.

The question is maybe - how long will the American public and their politicians put up with they environment being trashed by the oil industry?

Excellent - another new product line.

members
If you only put 50% of the effort that you have put in over the last few days trolling both the Sirius board and the Enquest board you could be in a far better place - get a grip man!!!

I guess the bottom line is how well the Chinese economy performs - personally I think that the leadership in China probably welcomed a bit of a slowdown this year - things were starting to overheat - we could I think see it starting to surge ahead again in 2020 from a firmer base - their enterprise is astounding compared to the west.

The Saudi's will have a very keen interest in the oil price this year with the first stage of the Aramco IPO very likely to be launched in the new year - if not before - it has seemed so long in the offing.

The recent meeting between MBS and Putin - that actually received very little publicity - plus the appointment of the new Saudi Oil Minister are presumably stepping stones towards a silent policy to push up the price of oil without activating Trump.

https://www.aljazeera.com/news/2019/10/saudi-aramco-ipo-timing-depends-market-conditions-191020164758320.html

The excellent news tonight that OPEC will agree a production cut at their December meeting will hopefully see Brent back towards $70 by the new year and put what has been a very disappointing 2019 behind us - Brent only topped $70 once this year - back in May.

Maybe finally with the bulls back in charge 2020 will be a year to remember.

The bottom line is that there will always be issues with these end of life assets - the main thing is to regularly monitor with safety checks as Enquest has done with Thistle and act with caution.

Hopefully the fix won't be to expensive or take to long.

The impact in the short term seems to be fairly negligible simply because Enquest acted quickly - imagine what would have happened if the rig had collapsed in a force 12 gale.

Yuri.F
The current market valuation is distorted by the shorts - until we get some positive news it is not to be taken literally.

I wouldn't argue with your dilution estimates but it could be the case that we will see a whole series of equity issues with some being more dilutive than others - hopefully not with the SP at these low levels.

These loads clearly were for different markets.
Load 48 has just left Scapa Flo on Leyte Spirit bound for the Gulf Coast US - this is a default load - just like most of the other loads that have gone to the US since Kraken started production - although it was slightly larger than usual probably around 550k - draught on Navion Oceania was 13m
Load 47 left Scapa Flo on British Renown - she is heading for Malta - this load is larger and if it is heading for MARSAXLOKK on Malta as a final destination then it looks like the crude will be used for bunkering - Navion Oceania was showing a draught of 13.8 metres when she left Kraken - British Renown is showing a draught of 15m - I am quite sure that this load was well in excess of 600k.

No casual - its has just that it hasn't got enough diesel in the tank at the moment to get up the hill - we sent CF out for a can but he hasn't come back yet.

The journey is only over if you get off the bus - getting off the bus before it went up the hill would be rather stupid.

All the news is rather gloomy this morning - oversupply - trade talks - recession - Brexit....

A good time for a big bounce up I think - the more gloomy it gets the bigger the bounce - think about it?

Enjoy your holiday Kraken - 20p plus when you return!!!