Member Info for haggis_trap

exactly - this board simply parroting the rumours it started.
of course BP are watching Hurricanes progress....

good luck all!

Interesting links to thismoney article about possible BP takeover. Though can't help but feel journalist simply parrots ideas posted on this board yesterday (and for last 4 years). If HUR really have several billion barrels then of course BP will be interested in replenishing reserves... The rumour / BP link is hardly a new one ;-) Indeed it is why I invested in 2014

Yip - fantastic interview.
Answers many of the questions asked here.
Essential listening.

Feeling very positive - patience from long term holders will be rewarded.

yip - I would guess FPSO leaving dubai will be a big RNS / landmark and the start of the real fun.

Interesting but not entirely surprising. Plenty clues have been given about only requiring a very short weather window to hook up. This was was always where there appeared to be obvious slack in the official time lines. Of course early FOIL wont be confirmed until they are certain. Better to under promise and over deliver - the HUR way :-)

There clearly is risk in this share, as indicated by the current price... Lots of potential for things to go wrong and unknowns to be answered. However the board seem very capable, grounded and able to deal with issues. So I am happy to trust my faith in them. I think it is not a case of 'fractured basement' not working but rather some aspect of the models being incorrect. Though likely that would mean a little less oil than predicted, rather than none. Like most I am obviously massively excited by the longer term potential here. But it would be naive to pretend there is no risk / uncertainty. Indeed where would the fun in that be ;-0 Good luck all!

Good luck to all long term believers :-)

... though did buy a few at 10p after the original funding was confirmed ;-) seemed absurdly bold at the time. however reduced average downward to ~30p,

^ Been invested up to my balls here since 2014 - nice to be finally seeing a profit. However the fundamentals were always good :-) Patience is paying off. All aboard - ship is leaving port!

wise words. the big risk here was always no-funding as opposed to dilution. of course we would all liked to have sold at 60p and bought back in at 30p last year. however doing so risked missing a take over / farm out. longer term the potential here looks mind boggling. securing the funding is what made it all possible.

Agree - FOIL and reservoir flowing as predicted is the key. If anything $100 oil perhaps makes short term T/O less likely. For simple reason that price will be higher. Majors wont splash the cash until 110% sure.

good speech - nice to see a politician who believes there is actually a future in north sea / Atlantic ;-)

HUR is actually great investment for RB. His fund just doesn't have the patience to wait for a return.

> Personally a sale of LanFax makes most sense For who ? If BP take over LancFax and invest in pipeline / rigs / infrastructure then they likely also want LincWick. Basic economies of scale. A joint venture was previously suggested. Maybe in our wildest dreams this is the new Clair and too big for one major ;-) However first the EPS needs to flow.

^ Imagine BP paid �1-2 a share for this tomorrow.... Total cost of FFD would be much more on top of that 2-4 billion take over cost. EPS alone cost �500 million. Plus major oil company would be committing to massive 40 year project. Given the location West of Shetland I am very much of the belief that full field development makes most sense if all the assets are developed together (i.e Lanc-Fax & Linc-Wick as 2 jumbo fields). This is where the real economies of scale will benefit any producer. I am sure HUR believe in Halifax / Lincoln / Warwick. However I can understand why any prospective majors don't yet have the same faith given limited data available. Therefore it is not surprising no deal that keeps both sides happy has been reached yet. Current share price is simple reflection that there is risk involved and HUR don't (yet) make profit. To achieve maximum value HUR need to prove up as much of the Rona ridge as possible. Assuming they can do that then potential upside is obviously mind boggling....

> Which leaves me wondering why the mid/major coy's aren't biting-off their hands for a chunk of asset. 2 simple answers... 1) At present HUR value their assets much higher than BP / Shell might. The EPS will help both sides agree a realistic value. 2) Full field development will cost much more than take over cost of HUR. So major needs to be 110% sure before committing billions to what might be a major 40 year project. Rigs, pipelines etc.

^ agree - that presentation is a great "feel good" story for investors. lots of positives and potential upside is *huge*. my guess is ship will sail Q3 exactly as forecast. if there is any slack in the time scales it will come via a good weather window during Q4 2018 / Q1 2019. this is where there appears to be deliberate redundancy in the time scales which may lead to early FOIL.

^ sorry Q4 2018 (typo!)

^ exactly.... if you read between the lines the potential for shortening time scales is a good weather window to allow quick hook up at end of Q4 2019. This appears where there might be slack in the time scales which (speculating) might lead to FOIL being brought forward. Great presentation. Patience will be rewarded here.

Getting out of the AIM wild west cant do any harm :D Another reason why I wouldn't want to be out right now. Things getting interesting.