RE: Hmph6 Feb 2020 12:52
yorkshirelife read the dec rns...
Aqua 01 wrote this earlier... I do not personally think they mislead...
The BOD did not raise expectations of a tie-back; they have been brutally honest throughout , the exact wording from the Dec 13th RNS "The tie-back of a Lincoln well to the Aoka Mizu FPSO, tie-in to WOSPS, and associated modifications to the FPSO are still planned for 2020. Obtaining regulatory approval for this plan may, however, delay activity until 2021. Confirmation of the tie-in programme is expected during Q1 2020. In the absence of OGA approval for the tie-in of the Lincoln Crestal well (205/26b-14), the licence partners will be required to plug and abandon the well before 22 June 2020 in line with current regulatory approvals." This led to a sp drop to 27.34 from 29.06 i.e. was priced in then! This further drop from already ridiculous lows is quite frankly astonishing and will not remain at these levels for too long.