Member Info for chilting

Matrix Statoil are now with AET - Eagle https://www.osm.no/en/Press/OSM-News1/Major-North-Sea-Shuttle-Tanker-Contract-with-Statoil/

Matrix Sorry that's not correct. it is the eight plus Peary and Nansen Spirit plus Stena Alexita - assuming they join the "pool fleet". Natalita was already part of the "pool fleet"

Hello Matrix No not quite, the list is out of date and also explains NB's departure. Teekay have lost the Statoil contract, it ended in March. This is why Stena Natalita was used for load 12. We could also now see Peary Spirit and Nansen Spirit in addition to the other 8 plus Natalita.

Hello Matrix The fate or otherwise of NB is still a mystery. On balance I think it may have gone for a refit. Although other Shuttle Tankers from the Tekay Fleet have not been so lucky eg Navion Marita - destination Alang, india but that was smaller. This is a very interesting reference document - http://www.stifel.com/prospectusfiles/PD_3610.pdf

Jan This real world info gives us some insight into oil supply - http://teekay.com/blog/2018/04/06/tanker-insights-tanker-scrapping-in-q1-2018-was-the-highest-in-over-35-years/

The first target has to be the January high of 44p. Brent was $3 cheaper then so there is we should be able to top that now the shorts seem to have retreated.

The simple reason for todays increase is that the shorts are loosing their grip - this was always going to happen eventually !!!

... lets hope it continues !!!!

romaron My failure to answer Therapist's post was simply that I was reporting a fact, I made my conclusions quite clear with my comment but it is up to others to make their own judgement.

Barclays have just lost their head European Utilities Analyst, he is now the head of a climate change think tank - need I say more !!!!

Certainly more positive at the moment - good momentum building !!!

I guess financial propriety also comes into it. The stage two backers and the city would probably expect SXX to put their house in order and remove any unnecessary debt. They wont care about dilution its only shareholders who worry about that..

I think the main reason for conversion is the high interest rate on the bonds. The plan was probably always to convert before stage two to reduce costs.

In light of the bond conversions I think that the worst case scenario here is that we may get a slight dip in the SP or the SP will flat line between now and stage two. But assuming stage two goes ahead later in the year I still stand by my prediction/guess of 55p at Christmas. The BOD are doing a great job and all the financial backers will be well advised to fulfil their commitments - with Government backing it is a no brainer for them.

Patience, and lots of it, is the key here. The products produced are gradually gaining acceptance - but much slower than expected. If the main backers of ITX want to protect their investment they will provide the funds to continue trading - a tiny investment in their terms.

Yes, I guess they are turning one of the production wells into a water injection well. Geosund has a tank for drill water that will facilitate this process and the subsea cranes. https://www.rigzone.com/training/insight.asp?insight_id=341&c_id=

Good morning Matrix Certainly a very interesting vessel - accommodates 88 crew - lots of cranes for sub sea work but maybe not a diving vessel but has special capacity for drill water. I guess they are working on the undersea infrastructure but no idea what they are doing.. More here on page 8. http://www.dof.no/Files/PDF/DOF%20Group/Media/DOF_fleet_booklet_web.pdf

The transfer has now finished. Cherokee is getting ready to depart to the US with her 1,000,000 barrels of ENQ crude from Kraken and Sullom Voe. Amunsden has already sailed for the Norwegian Skarv field.

"Goldman Sachs said this week that the case for owning commodities has rarely been this strong". The full where we are now article is here - its well worth a read https://www.dailyfx.com/forex/fundamental/article/special_report/2018/04/13/Crude-Oil-Bulls-Have-a-Banner-Week-As-Reasons-To-Be-Long-Multiply.html

It just shows how far ENQ has come in the last year - this would have been unthinkable last year. Every barrel of that one million has come either from an Enquest owned field, a ENQ operated terminal [Sullom Voe] and/or a ENQ operated pipeline, maybe from another Enquest field. All these developments have yet to hit the bottom line but when they do the SP will soar !!!!