Member Info for DiveCentre

apologies to whoever if this has been flagged up previously. Includes some comment on HUR and not all doom and gloom.
https://www.youtube.com/watch?v=RfOE2_9Z4aI&feature=youtu.be&fbclid=IwAR0Hguu9ulwtDzaBVrVSUrJ0_gPTcV41lG8eBgGFvOaxe8bmP3bb6zXHO0g

Bloobird
Yes the oil is sold to BP at spot but you use a market derivative which is settled with the proceeds of sale received from BP
Absolutely no point in hedging at these current prices. If they had hedged there would be no point in partial offloads.

adoubleuk
It may be a stability issue but I am more inclined to believe it is commercial

On the ball as usual slipanchor

Showing a draught of 10.1m from 9.2m beforehand.
Possibly another partial offload.

JAdam
You may get a more accurate comparison using Mcap and debt.

mover 123
All the indicators suggested that the last load was only a partial offload. If as I believe it was for commercial reasons, (which in the event have not paid off) the logic at the time would be to offload the minimum amount to warrant a tanker visit. So about 350k meaning they probably held on to 200k to 250k. Laserdisc has mentioned these figures. The last offload completed on the 22nd January giving 19 production days so a further 350k to 380k, making a total load of 550k to 600k.

The Russians obviously went into the meeting with no intention of participating in further production cuts. Did they misjudge the Saudi response?

JB
Your last line:
"If you have a War chest of money and you survive CV19 , and you invest wisely, you may well make a fortune."
is one I definitely agree with.
Unfortunately I'm missing the war chest but I have certainly been watching the best potential recoverers.

IAmNotAnAnalyst
"DC - do you seriously think that China has the capability to control the outbreaks of a virus such that it only infects <100k people and then is cured in China so they can sell face masks to the world? Even if that's true it'd be completely dumb as the loss in trade elsewhere would completely negate the benefit in the face mask market..."
But have you factored in the opportunity to buy cheap crude?

JB
"Question is WHY? V China?"
When it was first reported that Wuhan was in lock down my thought was thank goodness China is a communist state where they can impose the rule of law without fearing the liberals screaming freedom.

JB
The early departure and reported draught spoke volumes (literally).
PA could have stayed another 6 to 10 hours.

adoubleuk
It was a gamble.
They offloaded the minimum to satisfy a tanker visit. At the time I thought it was a worthwhile gamble.

JB
It's a cultural issue,

https://www.bbc.co.uk/news/world-asia-46027702

JB
The Chinese government have ordered a step up in the production face masks.
Would that be for home use or export?

Jiffybag

"CV in China is now on a downturn cycle at last."
China gives the world CV and now they are stocking up on cheap crude.
Conspiracy theory?

I don't think there can now be any doubt that the 9th was a partial offload. Shame the gamble did not pay off.

daltry

The CMD is supposedly for institutional investors but very little if anything has been said about how much attention will be paid by the industry. We are expecting to hear how well the EPS has performed and what their data collection is telling them about the long term potential of the reservoir. Last year AS was talking about "the interruption". RT has previously claimed the industry are taking a keen interest in what they have however HUR have said that they were not intending to release data to the industry until they have analysed it themselves so it is perhaps not surprising that no one has jumped the gun with an offer, farmin or otherwise. That does not mean the industry has lost interest and I would expect they will a more attentive audience than the market analysts. It would not surprise me if there are industry people attending.
If the presentation is positive and the water cut is not an issue the industry will be looking for access to the data and this is when things will start to get interesting.
Personally I think investors should be informed when "the data room" is open.
Expect a CPR in H2.

If the OGA do not relent HUR will have to get the rig moving soon if they are to P&A this month. PBLJ is still moored in a Norwegian fjord and I haven't seen anything in requirements yet.

OPEC’s proposal to cut oil production by up to 1 million barrels a day would be enough to balance the oil market and lift prices to $60 a barrel, Leonid Fedun, vice-president of Russian oil producer Lukoil (LKOH.MM), told Reuters.

https://uk.reuters.com/article/uk-oil-opec-lukoil/opecs-oil-cut-proposal-would-boost-price-to-60-a-barrel-russias-lukoil-idUKKBN20Q0YW?feedType=RSS&feedName=businessNews

Alexios

see my reply to WWN.
"Wasn't well 6 supposed to be dry oil? Or is under 2% water cut classed as a dry oil?"
I can only say that HUR describe it as minimal:
"The 6 Well is currently flowing individually at approximately 14,700 barrels of oil per day with minimal water cut."

WWN agreed

I stand corrected.