Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
It is probably online and the deep vision has been carrying out post start up leak checks for the platform to confirm no leaks etc. Prior to any announcement.
Can you imagine the backlash here and else where if they say it’s online then had to rescind an announcement due to problems.
You do realise this is an offshore installation and things take time?
There will be possibly hook up to complete.
Testing and repair any faults found (some kit will be 15 years sitting unused)
Commissioning/installation of any new equipment they are waiting on
Waivers required for flowback or of completion chemicals post drill works so dependent on FPS and FUKA pipeline operators.
Any plant constraints i.e. liquid handling, gas compression availability, dehydration efficiency etc.
Export spec required to be met on water cut or CO2 export allowance.
Plus lots of other little things that may delay start up.
I think the fact we broke even after a 45 day outage and a dividend shows how good the 2nd half of the year should be as long as there are no more issues.
If OPEX is already covered from the 1st half every barrel produced going forward is profit and bodes well for end of year results.
Esvagt claudine - It’s a platform ERRV and it or an other will always be on location incase of an emergency.
Deep Vision - It’s an ROV vessel so guessing it will have ROV’s in the water either securing the caison in prep for a platform restart or removing the caison completely if they are able to do so and carrying out any inspection for damage etc.
Mitch has stated they want to be operator so unless they can buy shells share of Shearwater I would expect a BP deal to be ETAP or more likely Andrew.
ETAP being the better option but I would say BP happier to do a deal on Andrew.
https://uk.reuters.com/article/us-spirit-energy-m-a/centrica-swm-launch-sale-of-north-sea-oil-producer-spirit-energy-document-idUKKBN1XL19S
This would make a transformational deal. Is it possible or too rich for us?
Whats the thoughts on a further purchase from BP by year end?
The previous deals have all been announced at November to January and with BP’s announcement that there offloading of assets is expected to be complete by year end could point to a possibility of Andrew or ETAP sale to us. Especially since BP seems more focused west of shetland.
No not scare mongering, the opposite as I have some shares I want to sell which were bought a few pence higher than the current price.
I am asking as I am struggling to understand how serica shares price can be manipulated so easily by so few shares.
To answer one question I doubt the the shares would have transferred over as I know some people that transferred during the harding and magnus deals and they had no option but to leave BP share schemes and take or sell what they had.
Newkotb. Don’t know past or present amounts, guessing board got decent options going by the RNS earlier year for large amounts awarded. BP transfers of 100+ people and no idea what terms they are on.
So thats a lot of shares the company needs to have on hand to spread around? So are serica managing the share price to keep there costs down?
Jadam whats crafty and exposing?
How will serica deal with this and how will it affect price or is it the reason for some of the trading seen? As all employees transferring from BP on tupe will have I am assuming been on the BP share scheme and hence serica will have had to start one.
So I got into Serica on a recommendation. Still a novice at this but have been watching the share price, buys/sells etc. I keep seeing small buys/sells(mainly sells) that jumps the share price significantly.
How is this possible and why is it permitted?
https://www.serica-energy.com/downloads/Serica%20-%20Supplementary%20Admission%20Document%20(FINAL).pdf
R3 is hydrated up going by what page 75 says. So i would guess Serica are hoping the hydrate has dissipated since BP has abandoned the well when they carry out there first intervention to confirm status of the well.
If it hasn’t dissipated they will either have to pump in a chemical to dissolve it i.e. methanol or potentially re drill the well bypassing the hydrate.
Both not cheap or easy but the first option is the cheapest compared to having to re complete the well.