Member Info for Genghis15

Those costs will be Bluewater's, not HUR's.

The cost to HUR is c. $25M pcm in lost production, @ $50 net to HUR.

I think the RNS is pretty clear?

"There were no injuries to personnel or damage to the Aoka Mizu. A survey of the buoy by remotely operated underwater vehicle (ROV) confirmed that it has returned to its starting position and is not damaged. "

chrishutch

I agree with the thrust of your post but wouldn't get too hung up on NPVs.

If we get the SP to 30% of those figures without selling them out I'll be amazed.

Still leaves plenty upside, tho.

Badger, I went around Purbeck on the bus Sat, good view of the rig from Studland but photos on my phone not good enuff to post.

good to see it with the Mk 1 eyeball, tho.

Sheltie
Complete f&ck up over there.

Hopefully we'll see better ST progress here, tho I am much more heavily into HUR.
Currently wish that was reversed!

"If it's Bluewater's financial problem, then no sweat to the SP."

I imagine the cists are BW, but the lost revenue is mainly HUR, and I cannot see there being an enforceable clause in the contract to cover that..

As I said last night, Lower Eashing will be near apoplectic today.

I know all the caveats, but if the AM had been on station in November, which we had every right to expect, we would have been hooked up b4 Xmas.
Instead we had delay in Algeciras Rotterdam, and then a snagged rope.
Every month late costs HUR,c. $25m at 17k bpd, but I doubt any contract would have an enforceable penalty clause to cover that.

HUR must b hopping mad at the incompetence.

Psy
That may understandably be your perception, but it is not mine.

I have faith in DR T which I believe to be well founded by the science, the track record, the availability of finance, the corenerstone investor, and a few other things.

The hookup, on the other hand, whilst it should be routine, is in the hands of a contractor who have failed once to do so, and who may have been responsible for time overruns in Dubai, Algeciras, and Rotterdam.

that said, I expect hookup over the weekend and RNS Monday.

Where are you then Badger?

I'm not too far away, may take a Purbeck bimble at the weekend just for a gander.

ilikesalmon
Your post of 15.57 ; yes, fair enuff.

My post was not intended to b combative, just that your OP seemed rather too assertive of one point of view.

pointless post ;

a) we are on the cusp of said revenues

b) there is never any way of knowing what is priced in, what seems the right price today can be all over the place tomorrow.

Price will be determined by market pressure ; and that may depend much more on who wants our assets than who likes our cashflows. w are not a utility or a biscuit maker, we are an innovative explorer opening up a brand new oil play.

Jack

I think we are pretty much on the same page.

To quote the other thread title, what a lot of people are missing here is that RBD is not an oilco, it is almost an investment trust, with a focus on early stage oilco opportunities.

As such, the revenues are useful but will not be the driver of SP returns, which will only come when RBD exits/monetises the assets whose value they have (hopefully) increased.

Which is why, despite some pretty impressive results to date and even bigger returns possible from 2019 drilling, the SP has not budged.
I don't expect it to on successful drills on Colter or California this year either, tho Parta might just move the dial if it comes in.

So this is slow burn territory, unlike taking a direct stake n a proper oilco like, say, HUR or PPC.

But as soon as RBD start selling interests on and showing significant gains on their investment, the SP will reflect it, imho.

I am prepared for the long game here.

Dreamon
Please clarify ; EOG said awaiting board approval....from the farminee, presumably?

That may mean little, in itself. "awaiting approval" is about as comforting as "the chequ's in the post".

paoloo, you are a complete arse/

Not bcos your post is poisonous drivel (tho it is) but bcos this is an investment bb and you have opened up the B word again, which most of us of whatever view have been trying to avoid.

So please stick to HUR, and if you cannot do that, f$ck off.

Thanks

https://email.edisoninvestment.com/2PWO-U0GR-B65DREKZ28/cr.aspx

"the DNO bid for Faroe recently showed that shareholders have little fight in them at the moment and that no one is safe in the sector. As I have said many times, when a fall in the oil price knocks oil share prices it becomes cheaper for oil-short, cash-rich oil companies to drill for oil in the stock exchange than go drill themselves. "

He said this commenting on Ophir, and the "drilling on the stock exchange" quote is as old as the hills.

Nevertheless, it may be timely to remember tht Ithaca was taken out on the cheap at just the juncture we are at today with HUR.

Ianb , do u have a link to the Twitter group?

Might like to set your recorders….
https://www.bbc.co.uk/programmes/b0c1nl68

Nice quote, tho I prefer "never approach a bull from the front, a horse from the rear, or a fool from any direction"