Member Info for chilting

Now that is interesting - cat among the pigeons time !!! API showed a 2.028M draw - the largest since early April. https://www.fxstreet.com/economic-calendar/event/bcf389bd-5fe2-4bd1-b1e0-d0b3910ba944 Could be a very good time to buy ENQ 121 !!!

Thank you MO that is the best news all week - AK is back on track !!!! One point of interest re the final commissioning is that Bumi kept the news of Bumi Olombendo quiet for two weeks until their AGM, so I guess we can expect a similar orchestrated announcement for AK, especially when you bare in mind that Bumi Armanda's economic survival hangs on the two vessels.

I think we will have this turmoil now until after the OPEC meeting later in the month and that we can expect more falls although hopefully Brent will stay above $70. I think OPEC will increase production although hopefully on nothing like the scale that Trump wants. Then after the meeting with a lower than expected production hike from OPEC, more logistical problems in the US and a bit of luck with regard the trade wars we could get our bounce upwards again just in time for ENQ to announce that AK is fully commissioned.

The big question is - how far will WTI pull Brent back if it continues to fall? Some analysts are talking about WTI falling to around the $62 mark. Or will a resilient Brent pull WTI back up again if news output improves?

Look out for news from this London oil trade summit over the next two days. https://www.platts.com/events/emea/global-crude-oil-summit/index

Back on tanker watch now - nothing to report yet. Hopefully it will be one of the larger shutle tankers again for a 600k load - unfortunatly not Heather Knutsen she is Alba bound.

I don't think POO has anything to do with supply and demand at the moment. The problem is risk aversion ahead of the anticipated trade war. The good news is that if the danger goes away recovery should be swift but the bad news is that if it doesn't we are stuffed.

Anyway if I was AB I would be looking to get 100% of Magnus and keep 71% of Kraken as the first option and maybe compromise if necessary and farm out a smaller percentage of Kraken say 10% if pushed.

A lot depends on what AB would do with the proceeds of the farm out. If he just uses it to reduce debt that to me is a sop but if he invests for future profitability that would then be justifiable. .

Totally agree - a 20% farm out would just be a short term sop and reduce long term profitability.

The reliable Kenanga is reporting the following on the Bumi Investor.com web page. Kraken likely to hit full acceptance by end June. Despite experiencing maintenance shutdown in March, we understand that Armada Kraken is on track for its full acceptance by end June with average gross production from Jan-Apr 2018 at 36k bbl/day excluding the maintenance shutdown period. Note that the company is recognising 60-70% of its charter income in Jan-Feb 2018 under operating lease accounting model and will be switching to finance lease once full acceptance is granted. On the other hand, Armada Olombendo has received full acceptance from the client, Eni Angola on 17 May 2018 and has commenced its 12-year firm charter period since then. Meanwhile, the management is in talks with client to extend Armada TGT 1 which is expiring by August this year.

It looks like we could have a challenging week ahead with idiot politicians, especially Trump, to the fore. This is never good news but when the subject is trade talks things could not be worst. POO is very vulnerable, especially as it has been slipping and the next break should be back up. The point being that it could break lower on bad news. For ENQ we need a tanker by next weekend at the latest to confirm production is ok at Kraken.

No point Dave with so few shares in circulation. http://itaconix.com/investors-old/shareholder/ This is why I think ITX could be a cash cow - they will simply licence their products for others to manufacture but to do that they have to remain independent.

The last tanker left around midday on the 27th so an arrival on the 5th to start pumping on the 6th would just about be feasible. The important thing to remember this time is that Heather Knutsen drained AK dry - her load was more or less equal to AK's capacity - so we will get a very good idea at the next load of actual production. One proviso that should be noted however is that final commissioning has slowed down the drilling process at times as various wells are taken off and then brought back on line - don't forget AK will be out there for 12 years or more so they have to manage the recourse and AK prudently.

It has to be said that US producers and Trump only have themselves to blame for the mess they have created with WTI - record production has simply killed the market and analysts are now talking about WTI at $62. Brent meanwhile has been powering on with supply limited and good demand, the gap in price with WTI is the largest for three years and unless OPEC increase production could only widen. The irony is that it is the Americans that need the higher prices to break even - you could say that OPEC have "won the war".

The real test comes today at 16.00 BST - EIA data. We know this data can be manipulated by the Americans , so how the market reacts will be very interesting !!!

Not sure what the API data showed but it only created a minor hiccup. Brent looking good for your prediction of $78 by Thursday Jan - well done !!!

This is only a guess - the collaboration with AkzoNobel involves licencing rather than manufacture. As stated it will certainly reduce the need for extra capital so that is good news. ITX could become something of a cash cow !!!

Interesting - I read from this that the factory in the UK is closing and that there will just be a sales and customer support office in the UK. The US factory will be the hub of the business - as it was before the Revolymer takeover.

API - 21.30 this evening. EIA - 16.00 tomorrow.