RE: Drilling through the anticipated zone22 Sep 2020 14:27
Greg while you talk your nonsense what does your CEO say,
Reflecting these new technical interpretations, the Company's unaudited estimate of 2C contingent resources in the Lancaster field has been reduced to 58 MMbbls remaining from 486 MMbbls in the 2017 CPR.
· The Company's estimate of the OWC in the Lincoln field is now 1,846 metres TVDSS (± 50 metres), compared to a range of 2,109-2,325 metres TVDSS estimated in the Company's 2017 West of Shetland Assets CPR ("2017 WoS CPR"). Accordingly, the Company's unaudited estimate of 2C contingent resources for the basement alone in the Lincoln field has been reduced to 45 MMbbls gross, compared to 565 MMbbls gross in the 2017 WoS CPR.
· More definitive estimates of the range of reserves and resources will be made available in an updated CPR in Q1 2021.
Operations - Greater Lancaster Area ("GLA")
· Hurricane continues to adhere to the strict procedures in place for UKCS offshore activity during the COVID-19 pandemic, with negligible disruption to the Company's operations during the period.
· The Aoka Mizu FPSO continues to deliver excellent uptime, with an average of 99% in H1 2020.
· Lancaster EPS production averaged 14,600 bopd for both H1 2020 and the year to date ended August 2020. Prior to the recent scheduled shutdown, field production of c.15,000 bopd was from the 205/21a-6 well alone on natural flow, with the 205/21a-7z well currently shut in to manage reservoir voidage and pressure decline.
· In light of the revised interpretation of the OWC, the area of the P1368 Central licence outside the determined Lancaster field area is being voluntarily relinquished and, following relinquishment, the Company will be released of its obligation to drill the Lancaster commitment well.
What does the CEO say about the wall of cash coming and we wont even talk about your share graph as it hurts me laughing. To be honest so are so stupid you are a embassaement to yourself. I know it hurts.