Member Info for DiveCentre

MP0818

Thanks for clarifying.

MP0818

“Even with the price rises due to Ukraine”

Did you mean price rises are due to Ukraine, or to the war in Ukraine, because the former implies Ukraine is responsible for the war whereas the consensus of opinion is that Russia is responsible for the war and that the rise in energy prices is a consequence of Russia’s invasion of Ukraine.

I should say it is the creater of this thread I am referring to and not the member named in the thread title.

Check members and you will find he is no longer listed. I looked at some other boards on which he posted and he rubbed a lot of people up the wrong way. I guess he over stepped the mark and LSE finally lost patience. Good riddance.

I don’t think it tells us anything definite other than what we already know. We know that a FEED contract has been issued. It’s for design work only and it is quite reasonable for Navitas to incur this expenditure so that the actual work can go ahead without delay if and when a commitment to the project is made. It is not a definite indicator that the upgrade work will proceed, and I cannot imagine Bluewater would terminate or give notice of termination to Prax without a guarantee from Navitas that the Sea Lion project will go ahead. It will require a final investment decision and if and when that happens you can be sure RKH will be informed and they will then RNS the market immediately. I doubt that Prax will voluntarily make a public statement as being a private company they are under no obligation to disclose contractual agreements unless there is an argument that DCU holders have a legal right to be informed, but as I said RKH will RNS and that may force Prax to issue a statement

So in conclusion I think the only thing we can be sure of is Prax will keep the AM to at least the end of November.

I was mistaken in saying Prax. It was actually from Kistos results last April:

Change of GLA operator expected in H1 2025 to provide renewed commercial momentum to sanction near-term development projects

I have been looking out for the lastest Aurelia Energy quarterly report and so far the Q1 has not been published. The last report was for the period ending 31st December 2024 which said:

"On October 15, 2023 a Memorandum of Understanding (MoU) has been signed with an undisclosed client for the possible

charter of the FPSO Aoka Mizu. The MoU comprise a Definition Study and FEED. Furthermore, it sets out the conditions

under which a contract can be concluded. The Definition Study has been completed. The FEED is ongoing and expected to

result in Final investment decision (FID) mid 2025.

Bluewater is in negotiation with current client for the contract amendment and extension for the FPSO Aoka Mizu on its

current location. Both parties have the intention to extend oil production as long as reasonably possible and convenient to

both parties to ensure a smooth transition from current client and subsequent new contract party"

The Upstream article mentions this statement from the report:

"Both parties have the intention to extend oil production as long as reasonably possible and convenient to both parties to ensure a smooth transition from current client and subsequent new contract party," said Aurelia.

So there does appear to be confusion.

The other matter we are waiting to hear is completion of the TotalEnergies deal which is dragging on. The advice from Prax when announcing the deal was H1 2025.

Recovered 42% of the dividend on day one. Not bad.

DU

"Maybe it's different in Aberdeen?"

Thank you for making me laugh.

However being of a suspicous nature I have also emailed JOG to ask if this information is correct and rather surprisingly it has been confimed so.

Quote from the reply "We are planning to release our year end results on the 28th May 2025".

My guess it the news is specific to SQZ. Is Triton back up and running?

The share price movement today suggests there is some news which the market makers are aware of but has not been made publicly available. We can only speculate but pleased to here from anyone with their thoughts.

In todays Times:

"Tony Blair calls for reset of ‘irrational’ net-zero policies"

Will it fall on deaf ears or will reason prevail?

Pisces 21

Thanks for that. It is a logical explanation.

Senseman

We can only speculate on Prax's reasons but there does seem to be a pattern of smaller offloads which indicates the likelyhood of another before the end of June. As far as the doller sterling rate is concerned this will only become relevant in September when funds are converted for the DCU payment. I am waiting for the monthly production figures to be published before attempting to estimate loads. We have to hope the TE deal completes at the end of the month as this will add significantly to future payments and since gas prices are in sterling the exchange rate may become less relevant.

There is of course the other unknown which is how long can Prax hang on to the FPSO.

Pearly Spirit is heading towards WOS and with Glen Lyon and Solan having recently been serviced Lancaster can be the only other destination.

Upomega

Nothing surprising about such an article from a left wing paper which has a green agenda.

Are you aware that the Observer is owned by the Guardian?

Since when has being a crank stopped people from becoming politicians, and even ministers. Remember Jeremy Corbyn.

Three reasons spring to mind. The effect of the NEO Repsol merger has worn off and any traders who left it too long are getting out. Then there is the fallout from Trump’s tariffs and the effect this has had on the oil price which would also persuade any lingering traders to exit. Third is we are into a new tax year and it is possible some long term holders are transitioning from normal trading accounts to their ISA’s, which is something I plan to do but getting the timing right is essential to minimise loss when the spread is so big.

For long term holders it is not of any great importance whether the sp is 90p or 80p when you know what will come when there is FID.

Totalenergies (TTE) are due to publish 2025 Q1 results on the 30th April and if the deal is due to complete I think it reasonable to expect an announcement.

fascinating that lse is not happy with s****horpe, but quite ok with scumthorpe