Member Info for DiveCentre

Hi Spindok

I also took my loss a good while ago. It was probably one of my best investing decisions. I held all the way through plant construction and for a year thereafter. It was pretty clear from early production that the plant design was not fit for purpose. I had assumed that aussies would know something about mining and ore processing: my mistake. I remember going on hot copper after the first quarter's results and the comments were scathing. On the first fund raise the Company blamed the APT price with no mention of the plant performance. Only six months into production was there any acknowledgement of processing under performance and then they blamed it on the wrong ore

RCF will get this company. They will have to deal with the other private shareholder but the free float shareholders are screwed.

I had a barny with DT13 when I suggested that RCF would make a takeover offer at 5 to 6p. We were both wrong, now they will get it for nothing.

The Plymouth Howler

SXX your innocent question is one I have asked myself. I can think of only three reasons for returning to Dubai.

1 Take on stores

2 Disembark any personnel on-board for the trials only

3 Attend to any problems arising from the trials

As to the first you would have thought that they are fuelled, stored and ready to go. Our observation of the tanker and Tarkers report suggest this; and for the second they have a helipad so why not transfer by helicopter, which just leaves three.

Good to see ricfle posting again.

adoubleuk

"There was a reference found on the net by myself and others (unfortunately I didn't note it down) made to 9 knots in regard to the first sailaway from Singapore."

My post on 22.09.18:

This is from a post on Ships Nostalgia 18th December 2008 when the AM was sailing under her own power from Singapore to Europe:

"Spoke to my partner last night, who called me via satellite phone from the Aoka Mizu - they are making good progress, at almost 9 knots"

The link:

https://www.shipsnostalgia.com/showthread.php?t=22809&page=2

and go down to the post by wee lenny

She has been up to 7.4 kn but should be capable of more. Calculating the distance between the AIS position reports at 14.53 and 15.28 gives an average speed of 6.857 kn.

I noticed Rizwan yesterday. She came out from port Rashid and shadowed the AM from the point when she completed a 360 turn shortly after leaving the dock area.

Any thoughts on why they have an escort tug.

Eventually

that's a relief!

Operation Hurricane (very apt)

https://en.wikipedia.org/wiki/Operation_Hurricane_(1944)

Lancaster rock dumping over Germany

korvet

It's a good question particularly in view of Tarker's observation of the unspooled offloading hose. I'm no expert but you have to wonder if its fuelling.

And an interesting reply by tournesol:

HD ...I welcome your post. That is an excellent example of a reasoned view contrary to the bull case prevalent on virtually every thread…. Not sure whether your comment is referring to s-murray's own words or to those in my post of May 2017 which he quotes at considerable length. If you are referring to me, then I would simply point out that my post in May 2017 seems to me to have been fully vindicated by the subsequent weakness in the share price which fell from a peak of 66p to a low of 24p. There's nothing faint hearted about avoiding some or all of that painful retreat by sitting on the sidelines while the risk/reward parameter is rebalanced. My strategy for re-entry was not about re-entering at the low point, it was about re-entering at a point when the balance of risk/reward was more favourable. It was obvious back in May 2017 that Hurricane needed to obtain financial support in order to keep going. It was generally expected that such support would come in the form of a farm-in. The non-arrival of a farm-in was a warning signal which is why the share price cratered. As we know HUR either chose or was forced to do a fund raising instead and that did not turn out well which was also bad for the share price It is irrelevant that the long term prospects are good. There is no point taking uneccessary risk and no point suffering avoidable loss. My big insight into investing is that you do not get rewarded for staying on board during detours and derailments, You get rewarded for being on board while the train is going in the right direction. It's not always possible to spot when it's time to get off and sit out a bumpy period, but when you can do so, it makes perfect sense. T

Great ramp but anyone wish to comment on the lowball takeover risk which has been debunked by so many on here.

Escargot

I use Halifax. It is not a problem with Halifax.
Have you never used the TradePlan feature. You can place an order stating your desired buying price

https://www.halifax.co.uk/sharedealing/getting-started/tools-and-services/

escargot

I think is means that there is insufficient stock available for automated trading. You provider has to pick up a phone to trade. You could try a limit order stating the price you are prepared to buy at.

This is from a post on Ships Nostalgia 18th December 2008 when the AM was sailing under her own power from Singapore to Europe:

"Spoke to my partner last night, who called me via satellite phone from the Aoka Mizu - they are making good progress, at almost 9 knots"

ReachForTheSky

As to the disadvantages mentioned I rather doubt that HUR has IHT funds invested.

I don't know if anyone else has thought about the companies reference to "a premium listing".
Whilst comments on this board anticipate a move to the ftse250, has anyone wondered if they might list on a non UK exchange, NYSE for example, noting they now account in US$.

BUSINESS
Hurricane on its way to first oil
Greig Cameron, Scottish Business Editor
September 14 2018, 12:01am, The Times

Hurricane Energy has passed another milestone as it closes on producing the first oil from its key development in the west of Shetland area.
The company said subsea work on the production system at the Lancaster field has been completed. It means the major engineering work has been done before the winter, when conditions make it much more difficult.
Hurricane, based in Surrey, was founded in 2005 and its profile has risen through its success in finding oil in areas west of Shetland. The Lancaster field was hailed as the largest undeveloped find on the UK continental shelf with an estimated 523 million barrels. The company floated on the junior AIM exchange in 2014 and is now valued at more than £1 billion.
Hurricane is tackling formations known as fractured basements formerly unexplored as they lie below traditional oil reservoirs. It is planning to develop a small portion of the field to prove its projections for the area are correct. Independent forecasts suggest it could hold 2.6 billion barrels of oil.
Robert Trice, the chief executive, said Lancaster remains on course to start producing oil next year.
A floating production, storage and offloading vessel is being prepared in Dubai with trials at sea later this month. Once those are completed it will start to make its way towards UK waters.
This month Hurricane agreed a $387 million deal with Spirit Energy to drill wells to develop the Warwick and Lincoln prospects west of Shetland. The two areas combined are estimated to have up to 1.5 billion barrels of oil.

Doc / adoubleuk
I thought controlled oversteer.

Drifting explained:

https://www.youtube.com/watch?v=w7mgEp_zMXQ

Shedfull

Wives serve a purpose, the WISA

MGW from his blog today:

"With the recent announcement of the GWA farm-out bringing forward value creation on that area this should frank the value well above the current share price."

or

Peter Stephens on MF today:

"Now, though, the company may lack the wide margin of safety which once made it a highly enticing play on the oil price. Using 2019 forecast earnings, the stock has a price-to-earnings (P/E) ratio of around 23.5. This suggests that investors are pricing-in the success of its Lancaster EPS, and the financial results which could follow. And while there may still be upside potential in the long run, other oil and gas companies, such as Shell, may now offer superior investment prospects."

It it quite possible NV is still involved in Lancaster SURF work . Her present location on the Tyne is adjacent to a Technip umbilicals facility:

http://www.technip.com/en/our-business/subsea/umbilicals

and from google maps:

https://www.google.co.uk/maps/@54.9699618,-1.5388632,3a,75y,94.41h,75.61t/data=!3m6!1e1!3m4!1sT1dgzDX-T6uknBkjeKWcow!2e0!7i13312!8i6656?hl=en

WM

Oil & Gas UK Economic Report 2018

Page 58

There have been some encouraging development in the last two years, such as Lancaster and Halifax,---

https://oilandgasuk.cld.bz/Economic-Report-2018/58/#zoom=z

johnpwh

The Lincoln was a scaled up version of the Lancaster, the first two marks I and II being originally known as the Lancaster IV and V.

It first flew in June 1944 and can thus be referred to as a WW2 aircraft although it did not become operational until August 1945.

Jacdaniels

A subject which during my time reading and posting on this board has never been mentioned is the naming of fields. With the exception of Strathmore all are named after WW2 aircraft. Perhaps because it is not basement RT chose to name it in acknowledgement of the cigarette company that included British aircraft cards sets in their product:

https://www.londoncigcard.co.uk/product/british-aircraft-1938/720