Member Info for chilting

14 days since the last load

That's 27,000 for January.

Hello Pelle

We are ahead of my estimate - so slightly ahead of November production levels at around 27,000.

The weather is ok for an early hook up tomorrow but getting a bit choppy later and into the weekend.

Amunsden Spirit on the way - ETA tomorrow morning.

The volume increased by nearly three fold on results day yesterday but it was back to Mondays levels today.

Until that changes I guess we are stuck in this sub 20p rut.

It looks to me that oil traders are simply taking advantage of the wide range crude has at the moment and the real lack of direction and are simply playing a game of rinse and repeat.

Recent events are a violation of a rich heritage.

https://www.bbc.co.uk/news/business-47094831

Chartist
The share issue wasn't even taken up fully - at that time many long term holders were very anti because of the large discount on the rights issue and the way Woodford etc came out on top and the long term holders took a big hit.

Also many long term holders had brought in when the SP was much higher - my first purchase was around 20p - I am still down around 50% but was down 90% at the rights issue.

Build 2.514m - up on last weeks 2.098m

Euroclear data shows a small drop in shorts from 2.42% in December to 2.27% in January - Marshall Wace are at 1.09% [January 31st].

I am not sure we can read anything into these numbers.

avocet

That depends if it is an orderly controlled exit - take a look at the shorts and SP at Ocado between last January and May - especially May.

With Sirius some shorters may be relying on leaks - so many people will know when stage 2 is agreed - we may see a sudden rise in the SP for no apparent reason.

Yes, that all makes perfect sense now - it seems that Bumi have taken a far bigger hit than Enquest with regard to Kraken - basically their profits have been wiped out for the foreseeable future.

This article may also give some insight -

https://klse.i3investor.com/blogs/AmInvestResearch/183712.jsp

Pelle - I don't think we have an answer to that question yet - I guess we will get it in the Full Year Results.

It doesn't look like Enquest will be asking Bumi for any more compensation - the settlement agreement with the $15 million payable last December seems to be the end of the matter.

But as far as I know details of the full settlement agreement have not been made public yet.

I think that this sort of implies that the issue of compensation has been settled once and for all - the trouble is that Bumi are so much up against the wall at the moment it could be counterproductive squeezing them for more.

EnQuest PLC, 29 August 2018
Kraken FPSO settlement agreement
EnQuest PLC ('EnQuest'), an independent oil and gas production and development company listed on the London and Stockholm stock exchanges (ENQ.L and ENQ.ST), is pleased to announce an agreed compensation settlement with Armada Kraken Pte Ltd, a wholly-owned subsidiary of Bumi Armada Berhad ('Bumi'), in relation to historic issues with the FPSO. Bumi has agreed to pay $15 million to the Kraken partners, which is to be fully settled by 17 December 2018.
While there is still further work to complete before a final acceptance certificate can be issued, this agreement allows all parties to work together to deliver final acceptance on a defined basis.
Â

Chesh

All 13.3% of the shorts closing at once would give the SP one hell of a boost !!!

Hello 121

Yes, Amundsen is certainly a possibility - she is just out of drydock.

Also Heather Knutsen when she has finished her STS at Scapa Flo at the end of the week.

The Euroclear data for January has just been published.

It shows a small rise from 12.8% in December to 13.3% in January - Castellain is also up slightly at 6.39%

I stand by my theory that most of the shorts are bond holders simply hedging their potential losses against any problems that Sirius might have with stage 2.

We are still getting lots of trades for 5,000 shares presumably larger trades chopped up into tradeable blocks for some reason - does anyone have any insight into the actual reason for this please???

We need Lse2000 to push SP over 20p - current troll is not of the same calibre.