Member Info for Fred_Bloggs

"Hmm.. an initial period of 3 years... I suppose that would mean that HUR will have AM for another 3 years+?"

Not really. Bluewater may well be looking towards making the vessel as attractive as possible to another company if HUR pull the plug on the whole thing.

The company goes into voluntary administration. Likely when the single production well waters out and production becomes uneconomic.

Heard it all before. Trice told us the Lancaster wells, both of them, were "world class producers". He was being extremely economical with the truth and cherry picking data in the extreme.

......on the other hand........

Toxic Trice ruined my weekend months ago. Now, just sitting here awaiting the inevitable end game.

It does and I wish I had never heard of it. Like a fool I believed Trice even when with the benefit of hindsight I can see he was being very economical with the truth. Statements of everything going to plan, no known reason for share price decline etc... Then followed two days later by devastating RNSs show what a fool I and other little guys had been. I am still here because it's too late to do anything else. I have written off my stake in this company. If 8t us ever worth anything again, that's a welcome bonus. But the odds are now sravked heavily on an early decommissioning. Last week the company said it had now put the money aside for that exact eventuality. I think the first break clause with Blue Water is 2022. But I think a force majeur declaration is possible with decommissioning next year. I truly hope I am wrong.

"Can anyone explain why CNE Cairn Energy is valued at over 14x that of Hurricane?"

Probably because HUR has just one producing well and it's going to water out within 6 months.

Death throes. Expect contract break with Blue Water at the first opportunity, I think that's 2022. It's all over bar the shouting. Those of us who believed Trice have learned a very expensive lesson.

I would have thought in any sensible market, HUR would have benefitted from improved sentiment this morning. But, no, down we go again.

"So has production slowed hence no tanker this weekend?"

I think production is similar but water cut is still increasing. The one producing well will be watered out completely within 6 months. Most likely.

If I traded in my 90% loss at Hurricane Energy for Rolls Royce shares? The three years share price trand in per cent-age terms is similar. But where HUR can disappear from AIM any time it seems though takeover or liquidation - RR can't go anywhere any time soon. The government owns a golden share and whilst I guess small investors could lose out in a full re-nationalisation of RR, it's pretty unlikely? Hence, am I mad to even think of this?

"From Lincoln
They just wanted to let spirit know again that their pressure is falling because hurricane are pumping their crude into the big boat."

Just a few hundred million barrels of produced water to overcome first though eh?

7p? Complete guess.

Kerogen and CA holdings now knocking on 30% - Expecting a bid from Kerogen soon who will no doubt more it with another business. CA are guessing or are in on the deal too. 7p bid coming I reckon.

"All I'm asking for is a fair bid...45p should do it.."

I'm not a greedy person. 29p will do it for me. If only.

Why have the wheels fallen of this trainset so spectacularly? Incompetence? Lying? Honest mistake? The CPR? Everything Dr T told us in the first 9 months or so of FPSO operation has been proven very badly wrong. Why?

So, what were they all about then? Just another awful day in this stock as far as I can see.

These events are very common indeed on off shore facilities. Something as simple as a blowdown valve or shutdown valve not closing/opening when tested often leads to an unscheduled outage for a day or two whilst the cause of failure on test is established and rectified. In fact, we should be happy that Bluewater and Hurricane take the maintenance of the facility seriously and take time off line when it is required to keep things safe and reliable.

Without a doubt, another (dry) producer is most desperately needed. Lincoln Crestal perhaps tied back after all? They have the long lead sub-sea kit already purchased for it. But Spirit Energy are in a complete mess and they have half of that resource now.

Woodside have no money. Like the big players, they have slashed both CAPEX and OPEX and are only doing absolutely essential work.