Member Info for DiveCentre

If the price spike is due to this article you might question the timing. For all those on automatic dividend reinvestment the higher price will result in fewer shares being purchased. This is why I do not use automatic dividend reinvestment. I will be reinvesting my dividend, but at a time of my choosing and when as is most likely the sp has fallen back to 1.06p.

4.798p is the maximum still due according to my reckoning, and there is no certainty this will be achieved.

I have just spoken to Halifax Share Dealing and they have confirmed to me that they have received notification of the forecoming DCU payment and the amount being confirmed as 0.756p.

Would Prax have bought HUR in expectation of making a loss?

It is a simple question with a blindingly obvious answer. The HUR board recommended the offer on the basis that Lancaster production would drop off and become unviable. If that was the case why did Prax buy it, and before anybody says tax credits, I do not buy that.

The fact is the HUR board had no regard for its shareholders as evidenced by the failed bondholder scheme and Maris and Chaffe in particular were only interested in looking after themselves. Maris was brought in when Trice was forced out and his only credential was knowledge of basement reservoirs. He was a poor choice and the board should have chosen someone with the skills and temperament of a CEO. Chaffe was promoted following Stobies resignation and again was some one without the qualities required of a CFO and board member. All commercial enterprises operate with some degree of risk and if you are not prepared to live with that risk element you are not fit to run a listed company

I suspect that Prax offered Maris and Chaffe something in return for their recommendation of Prax’s offer but we shall never know unless any of those involved speak out.

Hi Laser

If the offload is imminent I think we can discount Altera Wave as she is servicing the Captain fpso.

Since it was expected there would be an offload in August and we are now 2/3’s way through September it suggests there has either been an unusually long maintenance shutdown or some problem has arisen. The post by Pisces 21 mentioning the cessation of flaring is intriguing because it would appear to suggest that the maintenance shutdown has only just started. If this is indeed the case then production has fallen of a cliff. If you read this Pisces, are you aware of the AM flaring or not throughout August?

I may sound stupid to ask this but is there any way we could have missed an offload?

See my post 27/08/24

"On the current rate I am now expecting .75932p."

Looks like Kever's reply has been deleted, I wonder why.

The short answer to your first question is No.

Second question: production figures are published at the beginning of the 2nd month on, so July’s production was published beginning September.

Regarding the absence of an offload since the last in May it suggests an extended maintenance shutdown.

At the end of July they had 485k and if production had continued I estimate it would have taken 16 to 20 days to reach the AM’s storage capacity limit.

If there is no offload before the end of the month it would suggest some problem has arisen, but as fandg2 says you won’t hear much out of PRAX re HUR. Augusts figures will be published next month and that may provide some clues.

Serica's results are out today and this is from Chris Cox's review:

"Buchan Horst is precisely the sort of project that the UK needs, involving the creation of over a thousand jobs across the UK, the re-use of existing infrastructure, industry-leading low emissions and domestically produced oil. We and our partners are keen to have the opportunity to allocate capital to the project and we hope that Government will deliver a fiscal framework, and (following the recently announced consultation on Environmental Impact Assessment guidance) a regulatory environment, which will enable this."

From the Times:

"Volvo, the Swedish car marque renowned for its environmental commitment, has scrapped plans to sell only fully electric cars by 2030 in the latest sign of a global slowdown in growth for battery-powered vehicles."

Laserdisc

Lastest production figures indicate the AM was holding 485k at the end of July. Since there has been no offload it suggests there has been an extended maintenance shut down.

Altera Wave is also en route to Mcduff and Jamine Knutsen and Heather Knutsen are both at Aberdeen. All are potential candidates.

Interesting to note that despite todays news Ithaca's sp is not just holding up but remains in the blue.

"Or have I got this wrong"

Yes you have.

Sterling is getting stronger against the dollar which is good if you want to buy dollars and bad if want to buy pounds.

On the current rate I am now expecting .75932p.

miserable emoji!

Littlened

see my post 11/06/24;

https://www.lse.co.uk/ShareChat.html?ShareTicker=HUR&share=HUR.L&thread=6225108C-20A2-4DF3-B776-6730B0C24B57

As conversion to sterling takes place shortly before payment it depends on the exchange rate towards the end of September. The current rate is 1.30 which will reduce the payment to around .771p

Hi Laser

Given the reported production rates for May (6.65mbd) and June (6.66mbd) you would expect the AM the be full so it seems odd there has not been an offload. Hopefully it is due to the annual maintenance shutdown but this is usually the end of August. I just hope it is not down to a production issue. July figures will be out soon and may give a clearer picture.

Anyone with a bit of nous could have predicted this rise. It was just a question of when it would start. It is due to traders anticipating speculative buying in the run up to the budget. Evidence: all the new posters on the board. Expect profit taking as we approach the 30th.

Hi Laser

Jasmine Knutsen is off Aberdeen, with draught 9m. What do you think?

By my reckoning AM should be brimming.

Hi Mals

Withdrawals from SIPPs can only be made in cash:

https://www.hl.co.uk/help/adding-and-withdrawing-money/withdrawing-money/sipp

So it will not be possible to withdraw your DCU's. You would have to Instruct HL to sell the DCU's, then make a cash withdrawal and then buy back the DCU's through JP Jenkins. Don't forget there will be a tax deduction on the SIPP withdrawal and there will also be Jenkins charges.

“apparently the DCU's are not trade-able within a Sipp”

Mals1960 Who is your provider and have you checked with them if they will trade the DCU’s. I know Halifax will not but it is quite possible other providers will. I suggest you phone around because it is always possible to transfer your SIPP from one provider to another.

Zeus Capital has published a new research note onJOG suggesting Labours manifesto pledges should not prevent Buchan going ahead.