Member Info for Foresight22

I like that AS01, I think there is a Directorship going on well known company's Risk Committee!

...they should really understand the difference between RISK and UNCERTAINTY. Uncertainty has increased because of points mentioned, but Risk wise decreased as Oil Price increased. What about Risk of over paying Directors?

p22 2018 FR: Oil Price Fluctuation Risk Increased! Think they meant Uncertainty, at $75/BO around First Flaring -- best timing I've seen in a while. Catcher FOIL was poor timing ($66/BO)! (for those that keep mentioning Catcher). How much is that 'Risk' Director getting paid!

''This commercial backdrop offers a potentially fertile environment for Hurricane to pursue its strategy of attracting a field development partner for its Lancaster field.'' P8 2018 FR

''commenced work on reinstating the gas compression system on the Aoka Mizu… Subject to regulatory approval, this will allow us to utilise all of the 30,000 barrel a day throughput capacity of the Aoka Mizu.'' p6 GLA 2018 FR

...so not fishing on AM all day, probably explains why no 'smoke' YET. 'Commenced' word used late March 2019. Would make sense to do this before First Flaring.

''Our contracting strategy sought to transfer timing risk to our Tier 1 contractors'' p6 GLA, 2018 FR

how does it take 'days' for fractured well to flow stable oil?, 12 hours max.if at 10,000 BOPD!

Let's admit it - we are all bored waiting for First Flaring, keep fishing..

NB: First Tanker '3+ weeks' = PMO Catcher (remember Catcher Development was FFD not HUR EPS starting with one well, then 2..).

99.5% correct Cebo, FOIL will be when tanker takes oil to market which may be any time post First Flaring, most probable after 3+ weeks. My post was in response to ‘smoke & pancakes’.. FOIL is commercially defined which caused lot of BB posts several weeks ago. We know HE got good deal on AM - but looks like that meant AM dusting itself down on location rather than in dock or on route. Certainly understand all frustrations on BB over last two weeks.. HE obviously very busy and inward focused with rock funding secure - hence HUR SP bouncing around like a ping-pong ball on secure basement!

...we need smoke up the ‘stack’ before we can get ‘more reservoir data’ to maximise it over the consequential 20 days of start-up, post first flaring.

Your do wonder why they did not get AM more ready before going out into WoS... I take SP rise as they are finally ready.

Finished day of an upward trend! That has not happened for a while. All this climate change must be focusing AM on the real matter inhand - stop fishing and get some petro-monies in the bank. Maybe Dr T has been to see what they have caught? Tomorrow looks very promising.. keep hauling buoys...

...First Flaring must be very close. HUR SP seems very leaky on inside operations on AM. "Way hay and up she rises".

...anyone seeing the flare?

...back to HE, looks like Grampian Sovereign back over subsea wells again, and stationary(?), about time they stopped AM fishing.

Saudi are now spending billions on renewables - but they are also spending billions on refining. They have figured that at $2-3/BO OPEX, they will be last (main) producer of oil at end of this century - some 5-10 million BO/day. Hard to compete with in 81 years time...

...combustability when you drive into the back of em? Better in trains and buses!

...in fact North America is funding some of the most ambitious offshore wind projects along most of the East Coast. Renewables are big in USA - along with state of art battery technology.

Interestingly, 7 sisters have changed a lot since 1973. Based on market capitalisation, in 2017 Schlumberger entered the top 7 - having minuscule oil & gas reserves! Several National Oil Companies are also in top 7, which will lose funding as nations switch from energy to power. Most current fields decline at around 5-7% per year so remaining E&P companies will be expending to maximise remaining economic rent from their massive legacy fields. The World is spending $700 billion on Renewables vs some $300-400 billion on E&P, the later will drop post 2024 if Shell is right. We still use stone today post the Stone Age; so post coal & oil peak demand we will still use them too! Peak Coal might have been 18 months ago..

Renewables currently around 15% - expected to grow quickly to 30% with massive investment per year in offshore wind projects... If government cannot get foreign investment to fund nuclear - most likely new power stations will be natural gas... then leading to potential CCS sanctioned in 2025. Hydrogen could then be used to power our train network by 2030. All called the ‘energy transition’, just google-it.

Thought Shell said Oil Demand would peak in 2024. BP predicts much longer as they have near linear simple increase in electric cars purchases - most wisdom on actually having S shape uptake driven by changes in behaviour as demonstrated on the street of London this weekend! Probably two years off before having parity between electric vs fossil fuel cars functionality - benefits of use. At that point buying behaviour expected to sky rocket. HUR therefore not issue. Novelty attracts Capital - another good reason too.