Member Info for DiveCentre

HUR informed the market by RNS that the Court hearing was to be 31st January. Nothing has been said to indicate a change of date. The Courts decision would normally be given at the end of the hearing or the following day so it is reasonable to assume a decision has been made and the Company will have been notified of the decision.
We know HUR’s management are not shareholder friendly and thus may not be inclined to report the Courts agreement, but what if the Court rejected the application? Would that not warrant notification?

No

Dream on! lol

I’m not with HL or HSBC but if I was in receipt of an email advising of a dividend I would be inclined to ask them to advise of the source of their information. Do they have insider information or are they speculating? I suggest the latter.

If you go back and look at presentations for the EPS you will see that flaring was always acknowledged as a temporary solution. The favoured solution was a tie in to the WOSP but gas reinjection was also mentioned as an alternative option. It should also be noted that the planned development of Lincoln/Warwick was dependent on gas disposal other than flaring and Spirit paid upfront for a drilling campaign knowing this to be the case. Buckingham & Co wouldn’t propose to spend £250m if this did not involve a gas solution and neither would they spend that money if they didn’t expect to get a hell of a lot more oil than the current management have said. But that should be obvious to all but the simpleminded.

Retiredbanker
They had 21 days to call the EGM and they have left it to the tomorrow, the last day. They have another 28 days in which to hold the EGM so expect it to be the 9th of February. Maris and Chaffe will then be toast.

At the time I was lead to believe Stobie was pushed. In hindsight I am now fairly sure he had a vision of the future and jumped. He came in for a lot of criticism for having no skin in the game, which might tell you something.

Gloucester R
Prepare to be disappointed. I cannot see anyone coming in with a 12p bid. It might suit you but that does not mean it will happen and why would anyone bid 56% over the original bid of 7.7p.
Frankly I would be surprised if there are any bids exceeding 9p.
In any event it will be CA who decide. The FSP will fail and Maris and Chaffe will be history.

eskibeater
Why ask such a question? Do you really expect an honest reply?

Maris and Chaffe were prepared to wipe out shareholders ang give this Company to its bondholders. I will be particularly happy to see Chaffe go because in my opinion he was the primary mover behind the plan. He failed to buy back bonds in the market when they were heavily discounted before the Technical Review was published’ When the bondholders issued their warning against expenditure the Bod acquiesced and hatched the scam plan
Since that plan was stopped, they have done nothing to develop the assets They are good at relinquishing licenses and seem quite content to collect their salaries and do nothing until well 6 runs dry.
I’m not a fan of CA. They were protecting their interest in opposing the bond scam but in doing so they also saved ordinary shareholders from being wiped out. In my opinion they are acting again to enhance the value of their holding and that can only be to the benefit of ordinary shareholders.

Gloucester R
“I am hopeful that an offer of circa 12p will come to fruition "
Dream on, If there are any offers resulting from this current sale process they will be in the 8 to 9 pence range. I cannot see anything over 10p.

haggis-trap
There will be no forgiveness. They should be drilling. End of story.

Given that the documents are available on their website it is unlikely that any interested shareholder has not had the opportunity to read them. It is a technicality which has to be observed in view of the requirement to get Court approval and the possibility the scheme might be defeated by an objecting shareholder claiming they did not receive the documents.

Mals1960
Current indications are that this offload will not be going to Rotterdam.

Thanks Laser.
A few days earlier than I was expecting.

The Aoka Mizu is an FPSO (Floating production storage and offloading), and as sotb pointed out why do you need storage when production can be tied into the forties pipeline.

Assuming the AM were to become available it would have to be upgraded for gas disposal/export, water injection and electrification and whilst this may be cheaper than a new platform there would be the ongoing daily rate plus share of revenue to Bluewater but the main reason is the AM’s maximum liquid handling capacity which would limit maximum production well below the peak 35,000 bopd forecast by JOG bearing in mind the likely water cut.

“take chutes with pinch of salt.”
More like a bag of salt. He is talking rubbish. The Aoka Mizu is completely unsuitable for Buchan.

Intriguing comment from MGW today when he says: “With that now quantifiable and the company being more positive I am very happy to remain a buyer of the shares.”
And according to his disclaimer:” Malcy does not buy or sell shares, warrants or bonds in any company written about within the blog.”

I don’t think it’s surprising that RB is not replying to emails. With his nominees on the board he will be privy to inside information and accordingly has to be very careful with what he says, even to the point of avoiding saying anything with nuance.
In my opinion the Company should make a public announcement that CRS have been wall crossed.
The one thing that still puzzles me is Saba Capitals motive in forcing the windup, and De La Rue is not exactly helping CRS at the moment.

Cebo
I don’t believe it would be viable to use the AM at Fionaven. In the last full month of production oil was 11.77mb/d but the water cut was 81%. making total fluid production 61.14mb/d, well in excess of the AM’s fluid handling capacity.