Member Info for chilting

SP

https://www.google.co.uk/search?ei=5WiHXJGRC4qH1fAPj7GwyA0&q=sirius+minerals+share+price&oq=sirius+minerals+share+price&gs_l=psy-ab.12..0i131j0l9.3754.8237..10655...0.0..0.73.762.12......0....1..gws-wiz.......0i71j0i131i67.UxBJw2tqWVg

sheps
Can we read from this that the IPA involvement won't be part of the debt structure?

The cost saving would I think be significant?

We have a new deadline for the end of April - cutting it a bit fine but not a problem.

Additional funding for the $400-600 remains the same - no resolution yet..

One big lender - I guess SM know what they are doing.

The main thing that comes out of this is that Cairn have reduced their estimate of Kraken reserves as a direct response to current production.

The second thing is that there is a planned shutdown later in the year to sort out AK problems.

From Cairn

"Kraken
Gross production from Kraken (Cairn 29.5% WI) averaged 30,300 boepd in 2018, which was below expectations. Production levels were most significantly affected by production system outages on the FPSO, weather-related incidents and higher water-cut than originally expected. Cairn is working with the field operator and FPSO contractor to achieve improvements in the uptime of the FPSO and a planned shut-down is scheduled later in 2019. Reservoir performance has been evaluated and at year end, Cairn's estimation of Kraken 2P reserves has been reduced to reflect current performance. This has resulted in an impairment of US$166.3m in the carrying value of the Kraken asset. The JV is evaluating further investment opportunities in the Kraken area to provide new drilling opportunities in 2020.
The DC4 subsea infrastructure was successfully installed in H2 2018. The three-well DC4 drilling programme is ongoing and remains on schedule with production onstream from the first DC4 well."

I guess we will learn at 7am tomorrow if there was a leak - the way that the SP fell after 3pm suggests that there was - probably from one of the lenders offices.

But it could have been just a well coordinated move by shorters - start the selling - create a bit of panic - take out the stop losses - cash out with a big profit.

The trouble is that I guess most of us are a bit jittery at the moment - just grin and bear it.

Sorry to say but this is looking ominously like a rerun of what happened at the beginning of last September when the SP dropped just before we got the news of the extra funding needed for the tunnel.

In other words - a leak.

Whiteace

The only positive is that the benefits of the rights issue are still to be realised - for ENQ and for the shareholders.

Hopefully the year end results will give us the boost, but Kraken may ruin the party unless we see a resolution to AK's problems.

Brent, I think will stay around $65 for the forseable future - so hopefully things will improve - anyway we just have to wait.

The thing is though - who is the large seller??

Is it MW? - total shorts are only about 2%.

If its a long term holder - why sell cheap??

I agree with Kraken - the logic of the historical charts means that we should be trundling along at around 25p in subdued times looking to climb towards 30p as Brent moves towards $70 - this is before end of year results.

Doing very well !!!

A question -

I was wondering what sort of contingency budget the lenders might be asking for and if lack of agreement between SF and the lenders could be the issue that is delaying things at the moment.

Any views?

Yes, just over 25 hours.

Heading for a hook up at Scapa Flo with a tanker bound for St James Mississippi.

Load is probably 525-550k but HK has not updated yet.

Transfer tanker is the AFFINITY V - normal size tanker to suit southern US harbours.

https://www.yorkshirecoastradio.com/news/local-news/2822807/yorkshire-coast-homelessness-charity-awarded-25000/

Twenty three and a half hours and counting - the weather is very calm for March.

Yes, its just politics but good politics - encouraging oil companies to diversify has to be good news from the Norwegian Governments point of view.

Maybe AB's next project will be the floating Kraken Wind Farm - who knows it might be more productive than AK.

Hello Pelle
Anything to get AK producing more !!!

24 hours and counting - the weather is no problem right through until Tuesday lunchtime.

http://www.lse.co.uk/ShareNews.asp?shareprice=PMO&code=s0rudogz&headline=UPDATE_3Norway_fund_to_sell_exploration_production_firms_keep_integrated_energy_stocks

Now that is very bad news!!!