Member Info for chilting

Moving in again now - just 0.5nautical miles to go.

The Reuters article - link repeated below - talks about investors struggling to find a decent return - or any return at all - for their investment so it seems that the SM bonds are being sold into very much a sellers market.

This should I think guarantee the success of the issue and give JPM the freedom to get them away at lowest possible interest rate.

https://uk.reuters.com/article/uk-markets-milestones-factbox/factbox-month-of-milestones-bond-borrowing-rates-evaporate-in-july-heat-idUKKCN1UL251?il=0

Not quite there yet - Petroatlantic has stopped just 0.7nautical miles from AK.

A great time for a bond issue - scroll down for the interesting bit about corporate bonds.

https://uk.reuters.com/article/uk-markets-milestones-factbox/factbox-month-of-milestones-bond-borrowing-rates-evaporate-in-july-heat-idUKKCN1UL251?il=0

Pentroatlantic is just 1.2 nautical miles from AK in the final approach for hook up within an hour or so.

Myo
When you finally finish harvesting the Pea crop it would be a good idea to dig the plants up and compare the roots - just gently lift a few of the plants from each group, wash of the soil and see how long the roots are.

Petroatlantic is due to arrive at Kraken tomorrow morning at around dawn - she has made excellent time from Rotterdam and is currently doing 13.3knotts - this bodes well for an early hook up. The weather is set fine.

Its just a waiting game at the moment with a big spike to come when the bonds are sold - hopefully sooner rather than later but it won't make any difference in the long run.

The problem with Enquest is that its biggest asset is also its Achilles Heel - this has been amply demonstrated with a $16 million loss on this latest breakdown - maybe this is one of main reasons why Enquest have such a low market cap.

Looking at Tullow their financial position may not be great but they do have 28 fields in production.

https://www.lse.co.uk/rns/SXX/sirius-minerals-plc-notification-of-major-holdings--7a7zuqbmilb33gb.html

Aubery
Maybe that's what our friends from Qatar have in mind?

The Chinese have ended subsidies on EV's - one of the reasons for this was the metals needed for battery manufacture - it seems that they maybe consider pure electric battery powered technology to be a dead end. There are also signs that the Japanese share this view.

So vehicles powered by hydrogen with electric motors and steel cell batteries would be the obvious replacement.

Hopefully the shorts who have just been here to take advantage of the volatility are in the process of cashing out or have already cashed out and we are just left with the shorts hedging the bonds. With an announcement due on the bonds and the anticipated spike to follow the risk for the shorts is just to high.

The low volume

No, she has never been to Kraken - up until recently she only serviced Foinhaven - owned by BP.

Now, she is also servicing Hurricanes Lancaster field - hopefully they will also start using Sullom Voe for STS transfers.

Load 41 completed on 7th July - 18 days.

Excellent - thank you MO

More a case of wishful thinking monkey and a bit of logic but clearly wrong.

There is one issue with Petroatlantic - she is substantially smaller than most of the other tankers in the fleet - I haven't been able to find her actual capacity but as a guestimate is probably around 400-450k - the tanker for the STS is much larger than usual..

Excellent YOY - ETA Kraken early Saturday morning - so we haven't had three week shutdown - the last hook up completed on 7th July - so that's about 8 days unscheduled shutdown if hook up is next Saturday.

Petroatlantic is Teekay owned but along with her sister ship Petronordic has until recently just been servicing Foinhaven under contract to BP - so this is a first visit to Kraken but I understand she has also visited the Hurricane owned Lancaster Field recently.

I am wondering if today's shorting activity may turn out to be a one day episode - there was a big £302,000 buy that could have been shorts cashing out after the close of trading.

Maybe they know something about the bond sale that we don't?

Its all speculation Squif - we will have to wait and see, it seems unlikely that we will see another hook up before 2nd August at the earliest.

Its important to remember that even with this break in production Enquest should easily meet their production targets.