Member Info for chilting

This isn't definite but it look as though we will see a hook up in the next few days or so.

Heather Knutsen is due for a hook up at Scapa Flo STS2 on the 9th March with a tanker bound for St James Mississippi.

I am 95% sure HK is Kraken bound.

Auson

Exactly!

The total shorts on Euroclear simply reflect the marginal changes on Short Tracker.

January was 13.30% rising to 13.82% in February.

Nothing dramatic at all.

Yes maintenance but maybe on a more extensive scale to try and improve AK's performance - I would guess that Bumi engineers are also onboard.

If we are going to get a hook up in the next few days it has to be Heather Knutsen but she is just slowly drifting towards Aberdeen at the moment - so not any time soon.

I think that we have to conclude that current production is being sacrificed for longer term gain - hopefully.

The main safety vessel at the Kraken Field Esvagt Don has been replaced by her sister ship Esvagt Dee - unfortunately Dee doesn't have AIS so we are reliant on poor AIS coverage.

Don is on her way south east to the Danish port of Esbjerg - her home port - so presumably she could be gone for a while.

Stena Natalita is finally underway heading for the Ross Oil Field.

Heather Knutsen will shortly be at Aberdeen.

Myo

Yes, I suppose the lenders can dictate all they like - they are taking the risk and making their own assessment of how much the total construction bill will be and also maybe more importantly how much contingency they demand.

A large contingency would be excellent insurance for SM and the lenders but may cause a bit more pain to shareholders, however it is vital that SM don't need to raise more capital at a later date - that would be from equity with excess dilution.

Marshall Wace have been "with us" since January 2017 when the SP was at a 3 year high of over 50p - they dipped below 0.5% for a period so they may have reduced to zero for a time - they seem content to just milk the SP with regular fluctuations around and below the 1% mark - I don't think they will be going anytime soon.

Myo
Yes, that would be my understanding but I am not sure that they would dictate the size of the contingency because it wont be debt.

Hopefully we are now very close to this point.

Scotman - yes, thankyou.

I should have pointed out that we won't get the commitment letters until the $400-600 m is sorted - both processes are interdependent.

I think that it is important to remember that what we are waiting for is the commitment letters from the stage 2 lenders - this is not the final stage of stage 2 funding - completion will take another couple of months or so.

The important thing is when SM have the commitment letters in their possession they can raise the extra $400-600m to solve any short term cash flow problems.

Hopefully we are just days away from being in this position.

Good news for SM as well -

https://www.thisismoney.co.uk/money/investing/article-6760447/MIDAS-SHARE-TIPS-Emmerson-harvesting-profit-fertiliser.html

Hello Kraken - yes it was in March - for a couple of weeks - but it was supposed to be later - AK was taken out by the beast from the east.

4th fact.......someone has sold out recently and is being more than a little disingenuous!!

I guess he lost his bottle.

We are down to two contenders - Heather Knutsen on her way to Aberdeen - Stena Natalita at MacDuff.

Heather would seem to be the most likely but she is making very slow progress north - never a good sign.

The good news is that there is still a tanker waiting in Scapa Flo for a STS - destination St James Mississippi US.

The bad news is that it is now 22 days and counting.

It looks like we are just 2 or 3 weeks away from half year results - although Ceres did a technology update at the beginning on March last year.

Good news should push us back towards £2 in no time - especially news on commercialisation.

It looks like AB has decided to do a bit more empire building.

Update - HK on her way to Aberdeen.

Heather Knutsen has just left Rotterdam - waiting for an update on destination.

Navion Hispanica - going to another field.

Stena Natalita - still at MacDuff

Milo
Looking at the RNS on the 12th November - re Procurement complete for the major construction packages - the CL's should I think be with us very shortly - the actual completion of stage 2 though will be several months later - probably April-May - but that doesn't matter because the extra $4-600 m can fill the funding gap.