Member Info for DiveCentre

“Stuck with DCUs till end of 2026”

This why I sold my Sipp holding. Having enquired HSD told me they would not participate in the matched bargain facility so it meant I would not be able to withdraw and close my Sipp until the end of 2026. The only alternative being to go through the rigmarole of transferring to another provider.

So when I sold it was a welcome surprise to receive the 5.19p dividend on top of the 7.64p sale proceeds.

Has anyone considered buying DCU's?

Thanks Laserdisc, and for advising destination port. I had been thinking it might be Immingham so it seems they are sticking to the BP contract.

Shredders

I am not in the “industry”. My knowledge of the Aoka Mizu and field production is consequence of being a long term HUR shareholder.

Rollo_Tomazzi

Are you referring to this Energy Voice article?

https://www.energyvoice.com/oilandgas/north-sea/516208/fpso-buchan-north-sea-jersey-neo-energy/

The data sheet suggests that she would be quite capable.

https://www.enquest.com/fileadmin/content/operations/ICOP_PDFs/ICOP_EnQuest_Producer_2019_03_28.pdf

Greener101

I doubt it but I am no expert in reading sp movement.

The Aoka Mizu is not ideally suited for use at Buchan if JOG are looking to maximize production in the early years. If you look at the March 2021 presentation they are forecasting a production rate of 35K bopd in the early years. Buchan last produced in 2017 with a water cut of 59% so in order to produce 35K bopd the production facility will need to have a total liquid processing capacity of 85K bpd and the AM’s maximum liquid processing capacity is 35K bpd. This would restrict the maximum oil production to 14,350 bopd.

Apart from this I rather doubt that Prax have acquired Hurricane with the intention of allowing a wind down of production from the one well until it become uneconomic. And finally Prax want to buy in to current producers rather than fields in development.

Minella

Settlement is normally 2 days after the trade. I’m with Halifax so I am not familiar with IG’s platform and how they provide information but there will be a contract note for your trade and you should have access to it. If you can find it the settlement date will be shown. The sale proceeds should be credited to your account no later than the settlement date and then be available to reinvest or withdraw. Phone or email IG and refer to the contract note (it will have a reference number) and ask what is preventing release of the sale proceeds and mention that you will be contacting the FCA if you do not receive a satisfactory reply.

Mariog

Apologies, please ignore previous post . You are correct.

Mariog

sorry to have to correct you but the Ex Div' date follows the record date. For entitlement to a dividend you must hold up to the close of trading on the record date. The next day stocks trade Ex Dividend, i.e. without entitlement to the dividend which is why the share price will usually drop roughly by the amount of the dividend.

NMBS

Before CREST it sometimes happened that a sale would take place shortly before the Ex dividend date and the seller still received the dividend. It happened because of delay in updating the register and the seller still being on the register as at the record date. The buyer of the stock on finding they have not received the dividend would inform his broker and they would contact the sellers broker claiming payment. The sellers broker would then write to their client informing them of the claim and fingers crossed the seller would repay.

With CREST it should not happen and if CREST are saying the Ex Dividend date is the 6th I’m fairly sure this is what they have been told. It is more likely that either Hurricane or their registrars have made the mistake and given CREST incorrect information. Remember that Hurricane never mentioned an Ex dividend date for the dividend element, only giving the record date for the transaction, however the apparent error has only applied to the dividend and not the cash element or entitlement to the DCU’s.

It is a monumental balls up and it would not surprise me if Hurricane/Prax end up having to settle claims.

I do find Kevers numerous posts rather amusing as it suggests he is miffed at missing out on windfall.

The next offload is due shortly and it will be interesting to see where it goes to. LTH’s will be aware of the BP contract and I am wondering if Prax will tear it up as they have their own refinery. So if it goes to Immingham you can be pretty sure it is destined for Lindsey and the BP contract is dead. The question then is what will Hurricane get for its oil. What will the discount be because this will impact revenue.

Halifax share dealing are now showing a valuation of 1p for the DCU’s. No idea where they get this from as JP Jenkins are showing 1.77p. As many will know HSD, which includes I Web and Lloyds have said they will not trade the DCU's via the matched bargain facility. Can anyone with another provider say if their provider has advised on participation in the Jenkins trading facility.

Duchess21

In that case you are entitled to the dividend. If it is not showing in your account speak to your provider. They should also be showing your DCU entitlement so check that and query if necessary.

Duchess21

When did you buy?

thanks kinel.

i'm with hsd who also run i web.

interesting that lloyds say they have checked with crest.

i am wondering if there has been a monumental **** up.

Broomtree

You asked:

"will that be via Prax website?"

where else would you expect to get definitive information other than from the Prax website.

Kinel

That's interesting because I have had a similar experience. My provider has also declared ex dividend date as the 6th.

Who are you with?

Broomtree

I am rather surprised at the naivety of your question. The Hurricane Energy website was taken down immediately on delisting and now the only source of information is Prax, unless that is your are a subscriber to the font of all knowledge “kipper”

Classic sign of a narcissist.

Machin

I make it a policy to not mention other companies unless there is relevance to the subject of the board. When members do you have to ask why and do they have a motive. If you want to see what Companies other members are interested in you only have to look up their posting history.