Member Info for DaveWin

The SP can go up and down as much as the rampers and derampers like.
My average is way below current SP levels, never to be seen again.
I believe in the project, the management and the future of this company to worry about daily rises or falls.
Im here until this goes into production and then i'll sit back and love the feeling of being proved right

I think when we get a red dot, or one drops or UKOG have filed one, thats when we will get one
All IMO
*any hint of sarcasm is purely intentional

Do swampys need a bath?

Not sold and no intention of selling.
I believe in this project and i'm here to the end.
Lets hear it for the LTH's who dont buy into the negativity sown by the derampers!

Ive been out all day, just got in and read the RNS That's one hell of a miscalculated difference in expected cost

out of 15.1 billion in circulation
That isnt too bad imo for a business struggling to resume investor confidence.
Let the market absorb whats been declared and see where we sit at the end of the week.
This however is a very positive start

I wouldve thought we may turn blue as for the first time since ive been here (3yrs) weve cut costs and are generating sales with no debt.

Just out of interest, did anyone look at the trades from after closing yesterday?
£655k buy (i know its shown as a sell but look at the price paid, its a buy not a sell)
If this doesnt open blue today there is something amiss

Sales of £50,000 monthly for July and August with increasing targets for the year end.....

Projected sales of potentially £millions for the year with minimal overhead costs and reducing EBITDA savings identified.

This sounds on paper like we may well have turned the corner.

Onwards and upwards

I know the ex-OIM of the AM
Like many FPSO's there is a limit to what they can take in. They arent just like a fixed pipeline which can pump and pump and pump.
Its a csreful juggling act between abillity to get the oil on board, with restrictions on pipe and valve sizes etc
Then theres the quality of the oil coming on board. The poorer the quality then the longer it will take to clear out the impurities.
Then you have ullage space of the cargo tanks and the ability of the FPSO marine crew to conduct maintenance and routine inspections of tanks as per class and state requirements. Its not a case of as fast as you can pump it in, they can pump it out.
An FPSO the size of the AM which will be handling 30,000bbls - 40,000bbls a day will need a loading /discharging cycle of around 10-12days between fully discharged and ready to discharge again.
Its a fine juggling act as it takes around 7days to prep, inspect and reinstate a cargo tank after inspection and there will be one carfo tank at least out for inspection during every month
Then you also need one tank empty and with enough ullage space to continue loading into during the discharge to the offloading tanker as you cant just load into the same tanks you are discharging as you need to be able to test the oil is up to spec and then you need to know how much oil was in the space and what was left after discharge to calculate accurate turnoaround figures.
Its not simply a case of putting a meter on the discharge hose and let it tick away like at the petrol pumps as there are huge discrepancies between meters, no matter the calibration. Tanks on both the FPSO are manually checked before and after discharge and again by the offloading tanker and the reception refinery.
They are physically checked as its the most accurate way to determine volumes shipped/received etc
No-one wants to purchase a 600,000bbl parcel of Lancaster crude, to then receive 10%more or less than agreed. As Hurricane will be hit with massive demurrage charges if we dont give them the expected quantity and on the flipside we would only get paid for what was agreed.
Give them more than 600,000bbls? Tough. You shoulder it unless agreed earlier.
All this takes time
So what bottlenecks they are hoping to unclog on the AM im at a loss as to decide what and where.
You could double the size of the risers and pipework but it doesnt translate into twice as quick turnaround and throughput of oil as it simply doesnt work that way.
There are some restrictions in place that cannot be engineered out

How?
We have the good stuff bubbling to the surface without pumping. I simply cannot comprehend that this cannot be a commercial venture based on such low land based extraction costs compared to the UK North Sea environment.
It simply has to be commerical.
Doesnt it?

This is like waiting for Christmas
Day by day, step by step we can see the progression being made to turn the dream into reality
I never realised dabbling on AIM could be so fun!

And so the feeding frenzy will begin
Once one makes the leap you can be certain that every other oil major is watching developments keenly
Prove up the EPS, successfully drill GWA and watch the bidding war begin as they all seek to grab a slice of the pie.
Brilliant news all round which will see Hurricane make all of us very, very wealthy indeed

Well thats me out thank god.
Good luck to all remaining LTH's
Dont buy into the hype as you are all aware that what Zaza says and then what actually happens are often completely different, so take profits where you can as nothing is agreed until its agreed.
Be careful and I only fear for those buying in now on the hope of a sustained rise to riches and fortunes.
Ive seen it too many times before.
Take your profits where you can and sont get left holding the baby
Other than that, best of luck to you all.
I genuinely hope it works out for you but I simply dont trust Zaza anymore, so im out of here.
Ciao

"In principle"
What is the point of releasing that?

One of the permanent offended is a girl called Constance Whiston (how middle class) https://www.facebook.com/constancewhiston
Shes a far left fruitcake, advocating no borders and communism.
No wonder she detests the UKOG plans.
My guess is daddy didnt give her the attention she needed as a child

I'm wondering what the mods will be? The vessel can only cope with a certain rate of oil per day due to ullage space and you can't just add on additional storage tanks So what mods?

Threatens our climate? This nonsense is the result of left wing educators filling children's heads with rocks and passing them off as golden nuggets Told at school that this is really, they are then pointed in the direction which suits the agenda and off they go screeching and wailing about the climate and how it threatens them Completely failing to grasp that older and wiser people, less prone to be swayed by pseudo-science actually live in the real world and know the concept by a different name Weather

I think its fantastic news
The entire plan has been to prove up the concept of fractured basement plays with the EPS on Lancaster.
I didnt think that any major player would want to get involved this early as its still (for the UKCS anyway) an unproven concept.
The fact that Spirit (read Centrica) have agreed to farm in for a consideration which could exceed £500million is fantastic news and certainly a boost to confidence in the play.
Today they have stolen a march on everyone else and provided us with a much faster means of developing the assets and releasing the revenues.
Im thrilled at this RNS as once one jumps in you can be certain that others looking in from the sidelines are nervously glancing around them weighing up the cost vs the risk.
Today is a good day in the Hurricane journey and vindicates Dr.T and his concept
Well done to all involved

I hear your pov and agre in the aspect of holding on. Not through choice but necessity. Like I said, as soon as this bounces back & im still optimisticl that it will, then im out of here as I dont think the BOD have any credibility tbh.
Once bounced im gone and I wouldnt talk anyone else out of doing the same