Member Info for chilting

One very important thing to note is that Heather Knutsen emptied AK - Heather Knutsen's load was almost identical to AK's capacity. We can now put production at the Kraken field to the test starting 12.30 BST Saturday 27th May. So we should be looking for the next tanker anytime from Wednesday 6th.

Heather Knutsen is currently just getting the final push by tugs to transfer her load to the Triathlon super tanker in Scapa Flo - this is without doubt the most expensive load of crude produced from Kraken so far !!!!

The logic is there with the double top at 44p - January and May. But that is all it is and the latest update will be the support to stop it falling to that level. Having said that if POO continues to fall we will carry on going down simply because the ENQ buyers will be waiting for POO to stabilize before coming back in. Hopefully POO will start to reverse by Tuesday - our only luck may be that Monday is a Bank Holiday.

POO has to stabilize before we can start to think of the recovery of our SP - it was still falling when the market closed on Friday.

I am not sure that it does Auson because of the delay - we will have to see how quickly another tanker arrives at AK. We seem to be slipping from the 10-12 day time frame, but we will see over the coming months..

The largest load so far but the delay takes the shine away.

Correction that should be 12.30 BST.

Loading finished at around 11.30 this morning - the result a very healthy 12.4 draught. Heather Knutsen is on her way to Scapa Flo.

Continues...�25 hours and counting.

Come the Vienna conference at the end of June, OPEC and the Russians are just as likely to say that as POO has fallen there is no need to increase production. The game of bluff continues - Trump can rant as much as he wants to, anyway come November 7th not even stormy will be able to make him potent again.

Meanwhile... In the North Sea the pumping continues - 17 hours and counting.

The net result of the last two days is that POO is back to where it was at the beginning of May and ENQ is around 2p lower than the beginning of May. Clearly ENQ is now oversold and should bounce back at least 10% early next week IF POO stabilizes but if POO continues to fall ENQ will continue to be disproportionately affected. Personally I think the events of the last few days have more to do with bad luck with the timing of the RNS at the same time as POO fell and some very savvy shorts who will clearly make a killing at our expense - again !!!

I guess we will get a lot of rumour and counter rumour ahead of the OPEC meeting at the end of June. https://www.opecseminar.org/index.php?aw=2

Is now falling quite fast - as expected. But I guess this short term pain may be for the good. OPEC haven't said that they are going to increase production and with POO falling they are much less likely to.

Looking at the past track it looks like hook up occurred at around 07.00 BST this morning - it is difficult to be 100% sure because the transponder on Heather Knutsen appears to be badly positioned to the rear of the vessel [hence the gap between the two] https://www.marinetraffic.com/en/ais/home/centerx:1.287/centery:59.929/zoom:15

The assumption that AK can produce continuously at 50k per day is clearly wrong and has to be understood. My understanding is that production is at this rate for short periods is possible but the technical process of managing flow from the wells slows down the process at other times. Also some wells probably have more water and other contaminates than others adding to the complexity. Maybe when AK is fully commissioned proficiency will improve and production rates will increase but it seems that expecting a very regular 10-12 day interval between tankers is probably not achievable this year.

After such an abysmal day at least we can look forward to a visit by Heather Knutsen tonight - due to arrive at 23.00 BST. A guess we are looking at a early morning hook up.

hydraides Your day trading instincts were certainly sharp but investing in ENQ is more about the long term and most investors here will be content that eventually we will see a much bigger return than from your casino trading.

I wonder if AB will surprise us all and announce final commissioning of AK at todays AGM.

On balance and with the high price of POO I think the market will take a positive view today and the SP will continue to rise in the short term if POO remains positive. However I agree with Krakenoil - it could have been a lot better.