Member Info for DiveCentre

Benitz said at the beginning of the farm out process they would not provide a running commentary so it’s pointless screaming for an update. News will come when they have something to say.

One matter that does merit some discussion is whether they can finalize a deal for the FPSO before the remaining farm out. They announced in July that it had been decided to use an FPSO (rather than a platform as originally proposed) and that key commercial terms had been agreed for the potential acquisition of a high-quality FPSO. It has been speculated that Western Isles is the candidate and this looks very likely given that WI is about to be retired from Harris and Barra and NEO have a 30% interest. I suspect NEO had in mind Buchan as a life extension for WI when agreeing the farm in deal with JOG. So the question is could NEO and JOG conclude the FPSO purchase deal before JOG agrees a further farm out deal? Personally I see this as unlikely as it will oblige any potential farm in partner to accept the terms of the FPSO purchase deal. More likely is that JOG will finalize the further farmout deal in parallel with the FPSO deal. The alternative is that NEO will exercise its option to increase its 50% interest.

The latest field production data reported to the NSTA is:

May: Oil 7.34mb/d water 8.58md/d

June: Oil 7.19mb/d water 8.68md/d

July: Oil 7.09mb/d water 8.73md/d

Note there is a three month delay in publication of data.

The Iweb platform is supported by HSD (Halifax Share Dealing), as is Lloyds. The DCU payment has appeared in my share dealing account today.

“but a BB consisting solely of cheerleaders is helpful to no one”

And neither is one where false and misleading claims are made. I have no objection to members making comments raising legitimate concerns, but once an issue has been mentioned there is no need to go on endlessly repeating it.

Certain members seem to take pleasure in spreading fear and winding people up and I have seen many examples of this behaviour on other boards. It has been suggested that such members be ignored and this is good advice. Do not rise to the bait. Filter if you must, but resist the temptation to say you have filtered someone as this will only add to their satisfaction.

Good question and it will be interesting to see how the market reacts. My first impression is that it suggests the creditor banks have some degree of confidence in the business model.

"I am even hearing rummors that an offer is just about to be made to purchase the whole of JOG for £79.00 per share."

That deserves a recommend.

Https://www.youtube.com/watch?v=LJDWKvsmhss

This is an interesting question and one I have thought about myself. I messaged Prax but have had no reply. (not surprised).

There is information on the Prax website. Click on investor relations and then Acquisition of Hurricane Energy PLC read more. Agree the discaimer and then click on DCU holders.

The only Hurricane Energy shareholder is Prax.

Are Prax are still in the running?

Simple answer:

Yes or no.

Read this Kever and then tell us Prax are still in the running.

https://www.offshore-technology.com/news/shell-north-sea-assets-sale/

Results due on 1st September, see todays RNS.

Nimrod99

See

https://www.gov.uk/guidance/carry-forward-corporation-tax-losses

and note this paragraph:

“If your company is part of a group and has carried forward trading losses made on or after 1 April 2017, other companies in the group may be able to use those losses. This is called group relief for carried forward losses.”

I very much doubt we will get the full 6.48p and probably lucky to get half. Prax are not in business for the benefit of anyone other than their own shareholders.

It may be a consequence of the rising bank rate and increasing guilt yields.

What I would like to know is what Bernstein and Kerogen were told, or promised to gain their support for the scam given that the only guaranteed payment was less than the previously rejected offer of 7.7p.

Given that NEO are in partnership with Dana there is logic in a deal, particularly as the alternative to re use is dismantling. Interesting to note from the decommissioning doc that anchor chains, risers and umbilical’s are also shown with optional re use. WI has only been in use since 2017 so hopefully it should not require an extensive refit.

Down 116p

What's not to like?

Halifax Share Dealing have now transferred the DCU's from my ISA to my SDA.

Mariog

If that question was addressed to me Halifax Share Dealing. I used the abbreviation HSD assuming it would be known. HSD also provide the brokerage service for Iwed and Lloyds. The ex dividend date for the two dividends totalling 5.19p has been confirmed as the 6th June. HUR never mentioned the ex dividend date and it seems the market failed to take note as the sp would otherwise have adjusted to reflect the dividend.

Miffed!