Member Info for JiffyBag

SG2,

Yes, it's good to see a technical /challenge by someone who knows what they are talking about.

Re: 'WW commented earlier re PE buyout possibility - agree, WW; i think at this sp that likelyhood is approaching a racing certainty, unfortunately. ....JimRatcliffe, anyone?'

Not sure if a T/O is likely just at this juncture (despite current SP) until such time, that the company have fully evaluated the GLA area as a whole. Plus you need 75% of SH's to agree, would Kerogen and the other large II's agree at this stage? Anyway I wouldn't agree , had enough of that elsewhere this year.

As for JR, I did find an article that suggested JR was more interested in Spirit.

https://www.upstreamonline.com/weekly/ineos-takes-lead-in-race-to-control-spirit-energy/2-1-689408

https://www.bluewater.com/fleet-operations/our-fpso-fleet/aoka-mizu/
Exportable Crude:
618,000 bbls

Someone, ie Pijoe is beginning to critically assess and question Dspp, may it long continue, as so far no one has on a technical level other than AK.

AK,

'Cashing out now would be utterly stupid. When there are bullies and bluffers around, robbing you blind, it's best to sit tight.'

Agree with that, as am holding now no choice, bottom drawer etc.

Bottom line though is this imo.

The recent fall in SP and sentiment has added a further 2 years of 'Holding'time for the HUR share to turn around to previous highs, imo .

The thing that gets my goat, is the way the OGA an independent Limited company! (Only realised and learned of this fact today, my fault, always thought of OGA as a Govt led /owned/institution) can refuse to extend the P&A for Lincoln Crestal.

That in itself, must be a game changer for the HUR/Spirit relationship, and this is impacting the SP in the short/medium term, and is also adding to uncertainty, until such time that we finally know when and if Spirit are to be bought and by whom?

Further why on Earth, should HUR spend more cash on a commitment well requirement?, of the P1368 licence extension if LC is or maybe planned to be P&A. ?

It seems to me there are 2 games being played in parallel here, one by the OGA whom want data, and one by the very companies themselves to explore and become quite rightly as a producers and a profitable concern, but are severally restricted by OGA decisions.

Personally, I think the Mineral Resource Estimate for Rodnikova, will hopefully change the overall outlook for TSG and am very much looking forward to it.

LW,

'This is no time to fold!,

Agree, this is 'Freezer Time' , Bottom Draw Time for sure, I am holding :O)

Today bought some EUA, check that out.

LW,

It is possible imo, that the late traded 9-10 million share purchases, were those of Caius Capital LLP whom owned 0.52% to close their short?, ie, approx 10.3M shares.

Gazman,

It is possible imo, that the late traded 9-10 million share purchases, were those of Caius Capital LLP whom owned 0.52% to close their short?, ie, approx 10.3M shares.

Why would it be lying idle, waiting for an increase in oil price maybe after OPEC meeting?

Re Crystal Amber:
https://www.lse.co.uk/rns/CRS/potential-tranaction-in-own-shares-in-close-period-scf4fjb84j269vk.html

'Pursuant to the share buyback authority approved by shareholders on 22 November 2019, the Company has appointed Winterflood Investment Trusts ("Winterflood") to manage an irrevocable, non-discretionary share buy-back programme to repurchase on its behalf, and within certain pre-set parameters, ordinary shares in the Company, which will be held as treasury shares, during the Closed Period. '

So, might CA have sold sufficient (but under the radar for reporting) HUR shares to finance own share buybacks in order to prop up their own declining SP?

Eligibilty requirements to move to main Mkt,
https://www.nibusinessinfo.co.uk/content/eligibility-requirements-when-joining-london-stock-exchange-main-market

Eg Mkt Cap £700K, so SP will have to double from todays price.

'Without any such regulatory approved extension, the Lincoln Crestal well will be plugged and abandoned in March 2020 prior to drilling of the Lincoln commitment well.'

Surely if LC was P&A , then what would HUR or rather the OGA get from that?, doesn't make sense to me.

Ls,

We don't want that vessel then, for sure! :O)

LS,

Last one reported was for November 2019,at 16.94%.

In my view this was primarily for 7z, versus 25-30% previously reported, so make of that what you will?

They are only reported 3 months in arrears.

My reasoning was this, after RNS of the 13th Dec:
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The data for Lancaster on the OGA website is not broken down by well but reported for both wells, whatever combination of wells that have been run/tested in the reported period I have learned.
https://data-ogauthority.opendata.arcgis.com/datasets/oga-field-production-points-pprs-wgs84/data?where=UPPER(FIELDNAME)%20like%20%27%25LANCASTER%25%27

Volume of Oil =39,672 m3
Volume of Water =8,096m3
Total Oil / Water =47,768m3
Water % =8096/47768 = 16.94%

Taking extracts from the RNS of 13th Dec with ( Brackets / my comment)

RNS 13th Dec
‘Since late October, Hurricane has been carrying out individual flow tests to establish the optimum combined flow rate from the two wells under these conditions, and to assess individual well fluid dynamics.’

‘The 6 Well is currently (ie Dec ? ) flowing individually at approximately 14,700 barrels of oil per day with minimal water cut.
In a prior individual well test, (Nov?) the 7Z Well flowed at approximately 9,400 barrels of oil per day with a stable water cut within a range of between 25-30%.’

So to me it suggests well 7Z was being run prior to well 6.
Which might infer that the result for November of 16.94%. is for the 7Z well.

That is my interpretation. I am sure AK and others will either concur or disagree etc.

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SG2,

Given that we have a certain amount of 'De-BottleKnecking' yet to undertake in advance and in preperation of further tiebacks to the AM or other FPSO's (If Tieback is the correct phraseology, not sure), there are from what I have read some potential limitations as to capacity for exporting gas etc.

https://www.oedigital.com/news/472660-west-of-shetlands-ups-offshore-production
'Operators looking to develop new gas fields in the WoS through the mid-2020s could be challenged by the areas capacity restraints. The investments required for facility expansions may impact project returns and force operators away from marginal gas developments.

I am totally ignorant on such matters, but this article just raised a question of gas export in my mind.

Can/will HUR be able to tap into the WOS Gas pipeline?? given capacity restraints etc for further new wells etc?

In other words, you can only get so many flies on a piece of S----t :O)

I do sincerely hope and trust that HUR have already made advance preperations to oversee this etc.

AK,

Just noticed that you are now a 'Premium Member'

What are the benefits in your view? :O)

Thanks.

In other words 'Subsurface' , ie Dspp crayon drawings, I rather think so.

ie, HUR have tried and tried to explain matters as they see fit, and are aware of TLF, as I have e-mailed them with links etc.

Maybe, all being well, the CV, will be contained as so far is not classed as 'Pandemic'

https://www.bbc.com/news/world-asia-china-51368873

Saudi are the gatekeepers, and are ready to reduce output by up to a million barrels a day, in order to enforce the oil price.

'There are people either 'manipulating' this share or doing so on behalf of others. It's only a matter of time 'til we find out who.'

I agree, and hope that we do find out, maybe a TR1 or 2?

In essence is this not the job of HUR's Nomad's to advise HU accordingly?

I cannot imagine for one second that the BOD's are not aware of what is going on against the overall backdrop of world events despite numerous RNS's to confirm that as far as they are concerned, nothing is happening 'Subsurface' that justifies the recent price drop.

In other words 'Subsurface' , ie Dspp crayon drawings, I rather think so.