Member Info for chilting

If the Sirius sales team run true to form we can expect another TorP RNS on the 20th August.

Closing out one deal a month may well be the aim - I wonder where they are jetting off to next ???

It looks like Matrix was right it could well be Navion Hispania - very exciting !!!

Hispania is currently slowly sailing directly for Kraken from the Norwegian coast and is just hours away.

She certainly isn't going to Alvheim because Navion Scandia is due there - she must be for Kraken !!!

UT: Uncrossing Trade - This is used for for the single uncrossing trade detailing the total executed volume and uncrossing price as a result of a SETS auction.

So technically it is a trade but practically it isn't because no money changes hands - maybe ???

Also this -

Uncrossing Trade: During the auction period, there may be a point (or price) at which the best BID and best ASK match and a trade takes place. This trade on the London Stock Exchange (LSE) is known as an Uncrossing Trade.

So maybe sometimes it is an actual trade ???

Clear as mud !!!

I have just spotted Amundsen Spirit lurking off Rotterdam - very possible !!!

Amen to that SL.

Dilution doesn't always have to be a bad thing - it depends on the circumstances and the level of dilution.

Quite often it can be a means to and end and the cash raise will be the making of a company - I would a say that stage one was one of those occasions but any dilution in stage two would be excessive.

Dilution in the recent case of ITX is painful and excessive but with CWR the SP actually increased.

Grena Knutsen is still my favourite hopefully with a 600k load to go to Canada on Almi Galaxy - the only Canadian load so far was 600k.

It is I think reasonable to assume that the biggest surge in the SP will come when stage 2 is confirmed with the strong possibility of going oversold with a strong trader presence.

When the SP does settle down I think that that will be the time the institutions start buying in and we can expect a much more gradual rise in the SP right up to the start of production - all that assumes that construction goes smoothly.

Yes, I agree with all that DD.

However, on the commissioning issue it seems to be more of a financial decision to hold out for as long as possible before full payments are due, it seems most oil companies do it, the same thing happened with the Armada Olombendo.

The full pressure is actually on Bumi Armada who desperately need full commissioning and some good news for their shareholders, so I guess AB is squeezing as much as he can from them.

Assuming stage 2 goes through without dilution and on the back of articles like this I think that it is fair to assume that the SP will surge. For long term holders that is clearly very good news !!!

After stage 2 future investors may well find that the SP moves into overbought territory as it has on a couple of occasions before - this is I think is particularly relevant because there are so many small investors and we create a more volatile market.

Therefore, the window for buying into Sirius is I think beginning to shut for the time being - best get in now!!!.

It looks like hook up was around 06.15 BST this morning - that is Stena Sirita at Alma.

No sign of a tanker for Kraken yet, although there are several tankers at Scapa Flo that are candidates for the transfer.

Hello DD

Macquarie have just upgraded Bumi Armada on the expectation that Kraken will be fully commissioned in Q3.

However, Bumi were counting on Q2, so I am not sure that this will be realised - AB will I think only allow final commissioning when he is 110% ready.

http://klse.i3investor.com/servlets/ptres/46252.jsp

I came to the conclusion that the right time to buy is now and I virtually doubled my holding last week.

If there is dilution for stage 2 at least the capital raised would be a great benefit to Sirius and in the long run would have minimal impact on the SP, although dividends would need to be spread more - however I don't think that there will be any need for dilution in stage 2.

The real risk here is substantial construction delays and or cost overruns leading to Sirius needing to raise more funds from shareholders. The mitigation against that risk is to buy in before the SP rises as anticipated as a result of stage 2 - hence my decision to buy in last Thursday.

Now we are just one Torps RNS away from virtually guaranteeing stage 2, I think the case for buying now is absolutely compelling !!!

Excellent news Matrix - I seem to remember the last load was just before the fix, maybe back in May???

Don't forget that there are still shorts here that seem to be active, so presumably they were responsible for a lot of the sells and the reason that the SP didn't move higher today.

There presence here defies logic and if they get burnt all well and good !!!

Jan - I think it is 10 days but that's only from memory.

121 - Yes, only Teekay.

Rig count - minus 8

Grena is heading for the German Bight Anchorage - just outside the port - so not much help yet.

We might know soon - it looks like Grena is getting ready to sail.

Hello 121

The only two Knutsen tankers in the Teekay fleet are Heather and Grena - both are chartered in on a temporary basis.

Navion Oslo is a possible but always seem to service the smaller fields for some reason ???

So as you say Grena is currently the favourite.

Heather does seem to be heading for the Pentland Firth and all points west unfortunately - no other strong candidates at present.