Member Info for fecm

Jobs like that are usually very lucrative so I doubt it just expired. Fircroft are used by PMO to source personnel so I think their reputation might be brought into question if they were to mislead. Reading further into the job spec I don't think it was purely advertised for the FI project. Still positive in my view.

If you'd clicked on the link you would have read: -

This vacancy has now been filled but please feel free to use the links below to send us your CV or view similar jobs.

So yes, I'd take from that the vacancy was filled.

Do you then follow up with a vacancy filled statement Ralph - as per the Senior Drilling Engineer?

Senior drilling Engineer, check.

https://www.fircroft.com/job/923/senior-drilling-engineer-jobid-rms0194830

Why would we need this position filling at this stage - on a 12 month contract? Interesting.

Its definitely still not happening: -

"Based on the Islands, working for our public sector client, you will take strategic and hands on responsibility for a project to manage and deliver all workstreams relating to preparations for start of oil exploitation."

https://www.careerjet.com/jobview/fd19d620021c1504533cfc4ddb0f4738.html

pauldrayton, thanks for sharing this. I emailed the company on this matter and got no response. I presume the initial feedback from UKEF will give an indication to the applications chance of success. It could be possible that the part sale of Sea Lion that Sabyam was referring to could just be contingency planning in the event of a no deal with UKEF. Just my thoughts for what its worth.

Thanks Rob, would make sense. Fingers crossed.

"Funny that PIM application was moved to this week eh?"

Hi Rob, could you expand on your comment above? The only official statement I'm aware of is that it would be submitted during Q2 (which obviously ends on Sunday). Have I missed something?

Premier Oil PLC
27 June 2019

Premier Oil plc
("Premier")
Significant resource upgrade at Zama following conclusion of appraisal
campaign
27 June 2019
Premier is pleased to announce that it has significantly increased its
resource estimate of the Zama field offshore Mexico, following its evaluation
of the data acquired from the highly successful Talos Energy-operated Block 7
Zama appraisal campaign. The campaign comprised two appraisal wells (Zama-2
and Zama-3) and a vertical side-track (Zama-ST1) which was flow tested.
The latest appraisal well, Zama-3, has proven the lateral continuity of the
reservoir 2.4 kilometres to the south of Zama-1 with the quality of the
reservoir sands encountered at the upper end of expectations.
A comprehensive set of data was acquired during the campaign, including high
resolution wireline logs, extensive fluid sampling and pressure data, together
with the recovery of over 400 metres of core and a drill stem test to confirm
well productivity.
The data has demonstrated reservoir properties at the upper end of
expectation, including a higher net-to-gross ratio, better porosity and
increased hydrocarbon saturation. This has resulted in a higher estimated
oil-in-place and ultimate recovery from the Zama field. Consequently,
Premier has refined its gross resource estimate of the Zama structure to
670-810-970 mmboe (P90-P50-P10).
Tony Durrant, CEO, commented:
"We are delighted with the results of the latest Zama appraisal well which,
together with the positive results from the earlier appraisal wells, has
caused us to significantly upgrade our resource estimates of the Zama
structure. Our focus now turns to selecting the optimal development for the
field, ahead of taking a final investment decision next year."

Comertoes, certainly seems to be a bit more buying yesterday and today. Lead up to end of Q2 and anticipated PIM submission confirmation? Lets hope so for starters. Anything else that is being alluded to is a bonus.

Nigoil, I wasn't expecting anything this early on from OM but more than happy if progress is being made.

Muchabout, it could be about OM however I reckon Mogger would have been all over it by now.

Sabyam, yes it could have been regarding the PIM submission however this has been expected by the end of next week for quite some time now. The way I read GS's post was that something we are not expecting is in the pipeline. I could of course be completely wrong being the eternal optimist!

Morning Ovets. I found GreySquirrel's posts yesterday a little intriguing. He was suggesting a 'potential' catalyst is in the pipeline to get things moving with a 'possible' time frame of up to 4 weeks. He obviously doesn't want to state what it is, I assume so that he protects his source.

We've had a lot of others come on here making all sorts of predictions which never materialise. GS does however talk sense in his posts and tries to give his reasons which I find refreshing. On that basis, I'm prepared to give him the doubt.

Just out of interest, what are your thoughts on the discussion the other day regarding Sam's and Stewart's continued involvement with Desire?

Thanks for the replies Nigoil and no, I wasn't aware that Desire was still going! I must say I was a little surprised to hear SPs name crop up again after all of this time. My understanding was he took up a back seat when FOGL took DES out and then seemed to fade away once RKH took FOGL.

Were you ever on the iii board when all of this was going on?

Nigoil, could you expand a bit further on your comment re Phipps being behind the scenes?

We'll be halfway through phase 2 before that happens, if indeed it ever does.

I would rather it happened a little sooner than Carrot thinks it will!!

Ok, if we want to only believe information supplied by the company, try this (latest annual report): -

"Impairment of oil and gas assets
Rockhopper has tested the carrying value of its assets for impairment. Carrying values are compared to the value in use of the assets based on discounted cash flow models. Future cash flows were estimated using an oil price assumption equal to the Brent forward curve during the period 2019 to 2020, with a long-term price of US$70/bbl (in “real” terms) thereafter. A post-tax nominal discount rate of 10% and 12.5% was used for the Group’s Greater Mediterranean and Falkland Islands assets respectively. With no cash flow generation expected from Sea Lion until 2022 at the earliest, the impact of the Brent forward curve during the period 2019 to 2020 on the fair value calculation is limited. As such, no impairment arises on the Sea Lion project. A range of sensitivities have been considered as part of the impairment testing process. Even in the event of a US$20 per barrel reduction in the Group’s long-term oil price assumption, no impairment on Sea Lion arises. Equally, no impairment would arise even if the Group assumed project sanction was delayed by seven years."

So still profitable at $50.

I certainly agree with the points you highlight about securing the UKs energy security Ovets. Will this issue overide the drive to move away from fossil fuel investment? Probably but only just. Britain will want to be seen taking the lead on this one.
Lets hope our funding is approved and signed off before the proposed cut off of 2021. Will be tight but I think we may just squeze in by the skin of our teeth.

Not quite sure why you are picking surfit up on this one, however, why are you going back to 2017 to pick your figures? Try something more recent.
https://www.edisongroup.com/publication/market-heavily-discounting-sea-lion/23224/

Scroll down to 'Project threshold for commerciality: Premier Oil returns'
I wouldn't call 16% "barely profitable".