Member Info for Harryshang

An excellent insight to the North Sea. However, I remain sceptical in Simon’s strategy of distraction. We need news on NF where the effluxion of time causes concern. Notwithstanding, I would have preferred retention of a tangible asset and deployment of MFD- clearly, Hibbert, an employee of MFD has input. Moreover, where there continues to be a dearth of any incoming revenue and funds spent on DD offshore Brazil without update, I have to determine that the North Sea may be outwith the “cut your cloth”. In any event, what do I know, there seems to be current support for the SP. Harry

Good Evening SB, Suspension relieved, we may yet receive reasoned argument and debate. Harry

has been fortuitously established to create a mini pump. News on NF please. News on the shark please. Harry

I see Bentley as “fits the bill”: previous history with MFD consortium, fully funded by Norwegian bond holders who also own an FPSO with production capacity 100000 bopd, sound jurisdiction legally and taxation. No requirement of non-recourse as bond holders solely want development and production partners. Harry

lending attracts higher interest rates, door will be open to a company with excellent credit rating, proven track history of repayment and have submitted a credible complex financial model to the financier. In my opinion, Nuog/MFD cannot fulfil the above criteria, however , Aker can. Harry

Evening SB, The stand out post over the last 10 days is Ying Tong’s answer to LT on why he had not yet taken a position. We are now in 45days of the allotted 75 to execute the HOD. In my opinion, if there is up to 500mm barrels of oil, why not employ the MFDevco partners to see full value rather than dispose of 70%. There needs to be a statement sooner rather than later regarding override/consultancy fee with the MF consortium as I cannot see where equal stakes make the cut. Harry

Ying Tong, The problem is Hibbert’s assertion that the oil is waxy and, will attract a premium. He further states that past endeavours will not be repeated advocating a new approach. Waxy oil would certainly corroborate past problems with sustained flow. I do not suggest by questioning API that there is less commerciality rather acknowledgement and strategy to realise sustainable flow. Harry

Robert Ferguson, live in Oxfordshire.

Edgington Edgington yington yington

SB, Perhaps they are also cunning linguists. Ying Tong made a pertinent point regarding investors yet sat on the fence-I have emailed Simon requesting an update for investors on the state of play in NF and their strategy to overcome transit in the winter. Harry

SB, These guys are very serious players-issue of 500mm bond on one entity. Some intriguing Brazil case law regarding whether a secured mortgage written in Liberia could be protected in Brazil jurisdiction where a Brazil company sought to take an unsecured interest against it. The Supreme Court recognising the out of jurisdiction mortgage unsurprisingly to protect future credibility of the Brazil protection of financiers. Simon assured me that NF oil is API 51, however, final classification will be borne by assay- be good to have an update from the BOD. Harry

Mainshare, I agree.

Mainshare, The capacity of the FPSO is 100,000bopd. Harry

SB, That is research, analysis and conclusion of the highest order. Apparently, he was once the wealthiest individual in Brazil. We can but hope NUOG have seen the synergy. Harry

Where has it been mentioned? And, if it is a hammerhead shark translated to Portuguese(scarcely cryptic crossword in a credible media) is it necessarily helpful to negotiations to break from covert? As Freemanpro states, it is probably 85% Brazil because it’s a producing field. Tap room debating points, failure of acknowledgement of when you are doing well but labour the point and failure to quote from precedent are the worst enemies of a litigant in person notwithstanding his meritorious claim. Harryshang

SB, Very pertinent, the “hurdles” and “no competition”? Aus apparently. Harry

SB, In your opinion, what may be the “facilities”? Harry

The Girassol FPSO operating off the coast of Angola cost £756mm.

Evening SB, I agree no mention of offshore Brazil generically which is scarcely in contravention of any NDA. If the deal with China is for an FPSO, we know Whalsay are in the mix. Further, could the “hurdles” and “no competition “ be related to heavy oil 10-12API? Harry

Ying Tong, Welcome back. Perhaps a CFD opening for you here where the market has incorrectly interpreted Minty’s statement? Harry