Member Info for Genghis15

Thanks to all contributors for the debate around Humber, it is apparent their situation is what is not just holding up WN, but legal considerations are likely preventing S&S from updating us with a likely timescale.

So, the welltest could be Q1, Q2, or even Q4 for all we know.

Meanwhile our other biggie, Parta, is also in limbo as we await ADX's assessment and testing from the last well ; again, no timescale available.

It is hard to see what is going to propel the SP back to recent highs, until we gat news on progress at one of these 2 projects, especially WN.

Pretty old news.

Cornwall has hot rocks forever and this tech has been around since 70z at least.

Part of Southampton city centre is hested by it, check google.

Tiggernan
I dont mean to be patronising, but y not just go the q4 presentation on the HUR website?
It's all laid out perfectly clearly what the plan is, except mention of "interruptions".

Well, it can do what it likes, nothingvto be nervous about here, only positive.

We've got 2 lovely fires burning WOS, no doubt a stonking WW RNS to come, probably next week, and a splendidly outperforming EPS.
PoO is behaving.

What's not to like?

I have no idea how MMs work, but it is incredible to still be at these levels.
A RNS on WW will certainly boost things, mb next week, tho I suspect not Monday.

But the EPS is being ignored. It is succeeding spectacularly well, and proving up the entire Rona Ridge play.
The market must catch on eventually.

It may get chopped from the manifesto, suicidal ifbthey want any Scottish seats.

Yes, the result RNS will be very interesting. I'm not relying on it dropping Monday, tho, with all the connectivity checking they will want to do with both LC and the EPS, it could take a little longer.

MB the morning or evening of the 28th, which would slot in quite nicely with RT's talk at the RGS.

However, I'm not even banking on that ; Spirit are paying for these drills, and I suspect we are marching to their music, not our own Doctor's.
So Mon 2 Dec is my bet.

Defo reliable, I would say.

It is absolutely the case that HUR modelling shows the Brynhild fault zone separating Lanfax from Linwick, and also shows the Westray fault zone sealing off Halifax in the north.

I am not a geologist, so I can't quibble with their model in any way.

But HUR have said -I think it was RT , but don't recall when- that this is unproven, and that until it is, they remain open to the possibility that the fields are connected.
As I recall, tho, in those comments the inference was that separate fields would be a better outcome, why I don't know.

One way or another, this DST should, I think, largely settle the matter.

marl

Don't bet on it. Market doesn't seem to put much value on oil in the ground at the moment, only assets in or near production.

Regarding offloads.

If I were the CFO here I would be telling ops to schedule one about Xmas day, so the cash gets in the bank by our year end. That's assuming of course, BP are prompt payers (prev info suggests that's the deal) and whether accounts dept at BP works between Xmas and NY, which I would expect them to do.

So, the next offload mb decided by corporate considerations, rather than operational.

"That recent rumour that this was a BIG find for HUR (was it 500 - 900 million barrels?)"

I saw the Twitter posts around that. Now, I don't know on what basis those were posted, or how even HUR/Spirit geos could be reading field size from data pre DST on WW.

What I DO know, is that HUR's High case for Lincoln is 4113MB OOIP, and 3C of 1537MB. Warwick is high case 2790MB prospective. So, a "giant discovery" of 500 to 900MB would not be at all surprising, imho.

"Mustn't grumble at 5% up"

Well, I differ. 5% up, on a rather incredible low point, back to where we were a week or so ago. the well's burning, so we can look forward to a cracking RNS in a few days time. Now, I know this I only 50% HUR owned, so so MB a BIG rise would not be expected.

BUt...success here reads across......partly nullifies the WD disappointment, and MAY, after testing, confirm Lincoln/Warwick connectivity. It may even show Linwick/Lanfax connectivity, tho that seems unlikely.

But taken together with the continuing EPS production (which the market is ignoring) and there is, imho, a serious S/value disconnect here.

We were at higher levels while the boat was in Dubai, EPS unproven, had no cash in the bank, etc, etc, etc.

At some point that disconnect will correct. And its a hell of a lot more than 5%, probably more than 50%, and possibly a hell of a lot more than that.

Grr. Apols, didn't check the date!

https://total-market-solutions.com/2019/09/05/hurricane-update/

I don't understand the negativity around today's RNS.
I looked at it, breathed a sigh of relief, and went back to sleep.

They've been down that hole for long enough to know if it works or not ; the only question in my mind is how good will it be?

I've not heard of a 30 day rule, perhaps someone better qualified than me can clarify. My understanding was the same as f15jcm.

Good to see.

We KNOW how undervalued this is t 0.9p, but a big confirmation from directors putting money where mouth is.

We are a third down on our pre raise SP, for no good reason whatever. I too would top up at these levels if I could, just getting back to our pre raise SP would give a 50% gain, and there's much more to come, imho.

Beg pardon, ronok, thanks for correcting me.

Per previous presentations, etc, any flow rate will be "constrained by surface equipment", whatever that capacity might be ; in the past it has been c. 10k bpd, which is certainly commercial.

LC has been suspended as a future producer after a test at 5k bpd.