Member Info for Genghis15

Anyone going?

I plan to be there.

looking forward to that, Malcy said at AGM it was lined up.

I don't imagine there will be anything new, but confirmation that everything is on track.

Thanks, Tarkers.

I suspect some of our shipwatchers have alarms that will blare as soon as her screws turn!

Very interesting, surprised no other comments. Remember the 3 ship flotilla all over our and adjacent acreage last year, never really knew what that was about either.

It would be nice to know who she's on hire to, is it HUR?

Sooner or later a gas pipeline, and some sort of hub , mb even an oil pipe, will be needed.

Could the OGA, either off it's own bat/budget, or thru pressure on others, be behind this, or is there some other simple explanation?

Boyzee
I am certasinly not one of RB's "protectors" but given his recent statement re trading in HUR I would doubt if it is CA.

well corrected, that seems to make good sense.

Biffa
Going back to your OP on this thread, the PBLJ is booked solidly or thru options to either Zennor or HUR right thru to Aug 19.

so effectively the timing of her release to HUR is in Kerogen's gift, tho of course they would have to balance the interests of their 2 investments.
So it is possible , no more, that HUR might start punching holes whenever FOIL starts giving us cashflow, Zennor ops permitting.

I know nothing of subsea engineering, but extrapolation from recent events (like the rig move) company timelines, etc, leads me to think that the 2 wells should be completed by mid July. We know the Xmas trees are installed; we know the buoy is in Lerwick.

Seems to me there would have been no point going to great lengths (ie the warrant issue) to raise funds for "long lead items like the trees without getting all the SURF kit arranged for the same window.

Bearing all the above in mind, it seems to me that by mid July it is perfectly possible that we could have an Ops update , or several, confirming well recompletions, SURF installation, and buoy on station by then; and even the AM could be on sea trials, at least, by then.

Corrections welcome.

"our favourite holding period is forever"

Well if I were a holder I would defo want to be there!

Interesting thing is that this share has only bounced back to previous levels today, so if this strike turns large there is still time to get in.

We shall see.

Of course there is no particular reason to use the PBLJ next year, could be a different rig.

Ricfle I do not believe there is sufficient "contingency" in the EPS raise to fund a drill anyway, as I said before, but RT stated firmly and specifically, without being asked, that drilling would be subject to FOIl, and if FOIl was late drilling would be late as well. If you go back to the 2 presentations of the rsaise and look at the different bdowns . fixed sums, reimbursables, etc, I think you will see what I mean.

And btw, it was made clear at AGM that drilling would be funded from cashflow; if FOIL delayed, drilling will be too. Other attendees can confirm.

pjoe The "contingency" in the EPS cost was analysed much here at the time of the raise. I remember posting then that whilst the different bdowns and terminology used in the different presentations made it difficult to nail down, it was clear to me that after taking account of the costs of the raise and the CB interest in escrow, there will not be enough in there for further drilling. It will have to be from cashflow.

plumbus just my opinion, and I claim no great expertise here, but I am doubtful over the ability of tight oil to keep up current and projected output levels. This statistic caught my eye on Twitter today which rather showcases my doubts "Bakken average well production Is 97 barrels/day, -35 b/d less than in Sept 2014. 49,453 b/d (+4%) higher total output today with 3,578 (+40%) more wells."

ADUK, you sum up Trump well ; he is quite capable of causing immeasurable damage thru "solving" what he perceives as simple problems. However, apart from his long held antipathy to high oil prices, a low PoO actually does him good electorally, as the earlier Bloomberg interviewee pointed out. the US oil industry will squeal at low PoO, but the vast majority of Americans want cheap gas.

And here, a rather unanticipated event may be looming...…… https://www.bloomberg.com/amp/news/articles/2018-06-19/opec-faces-a-bigger-problem-in-washington-than-trump-s-tweets

Yes, agreed to all that. The BP CEO quote does not encapsulate the entire article, which in essence says that majors' reluctance to commit long cycle capital could easily see supply shortfalls and high PoO in the medium term.

And another one here, v good article from FT, tho you will need to register - gives access to one article a day. good analysis, imo, of the oilcos approach to capital allocation in the face of climate issues, etc. https://www.ft.com/content/a41df112-7080-11e8-92d3-6c13e5c92914 Quote from BP CFO "“We’re becoming more efficient at how we deploy capital,” Mr Gilvary says. He adds that BP and other energy groups are ploughing a middle road: raising oil production by using technology to sweat more barrels out of existing fields, while also funnelling smaller amounts of capital into so-called short-cycle projects such as US shale."

PoO nerves imho. Next news likely to b AM sea trials , I think, can't be too far off now,