Member Info for JoeSoap

ADUK, (23:35 BST) (And on re-reading this, it seems that just by seeing one picture of sailaway from Dubai, and looking to see if the full flare-tower is in place, we'll know the route!) Cannot help wondering if you have missed this on page 11 of the Presentation? Aoka Mizu sail-away -- Target for sail-away from Dubai remains end 3Q with arrival in Rotterdam ~6 weeks later. Also, your " dumb bits of iron " or piles as they are known to others, including proctologists, are already with Bluewater awaiting installation. That is according to DrT in the audio recording of the presentation. (c4:58-5:08) https://www.hurricaneenergy.com/~/media/Files/H/Hurricane-Energy/documents/presentations/Hurricane%202017%20Final%20Results%20recording%20100418.mp3 for those that have missed it earlier. DYOR/DYOC

IJWT, I think I said SXX may not follow the same route to conclusion, but outlined the current parallels as in "You will note.." and, of course, the PMO refinancing is the stuff of legends. However, the subject was "SIPP`s schooling" and if pursued, the knowledge gained would show that it is a complex subject where the PIs` normal expectations do not seem to be fulfilled, yet the CB holders, who seem to prefer coupon to equity, are happy to cash up and move on early. We could talk about SXX perhaps clearing the path to their second debt tranche, but let's stay with HUR. Monday we were told about their current vision of "What comes next". Very little of that will be sanctioned until the imminent new Chairman is in place, if I heard DrT correctly. But if they cannot run at 30k until they have paid for a solution to the gas, and they have drilling options to take up, then I do not see that there will be a cash pile to keep the lights on and buy out BHs, so I currently expect the equity dilution solution. Of course, there is always the possibility of cash from a JV/FI or a TO endgame.

Hi SIPPn00b, I noted your SXX comment and if you wish to continue your schooling, now that you have all that extra time on your hands ;-), you might be interested to review Premier Oil (PMO) who recently did exactly the same thing. You will note that they had conversions dribbling through and then the SP rose nicely then the "offer" was made with the incentive of more shares instead of future coupon. It was taken up by 87.5%, and the SP slowly fell away. Links: The RNS https://www.investegate.co.uk/premier-oil-plc/rns/invitation-for-early-exchange-of-convertible-bonds/201801111810026732B/ a recent reply from PMO http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn:PMO.L&threshold=0&it=le&action=detail&id=12290399 to this question http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn:PMO.L&threshold=0&it=le&action=detail&id=12290394 Not saying SXX (or eventually HUR), will follow the same route to conclusion, but the parallels are certainly there at the moment imho. GL joe

Yes, I would agree wessexmario, it's when they approach FPSO capacity from DrT's commentary. Whether that is the two existing wells, or an extra well utilising the FPSO as per "Management has built in spare capacity within the buoy system and topsides such that additional producers can be tied in to the FPSO � current maximum oil capacity stands at 30kbod." as mentioned by Edison in the December post-Drydock World report. Whether that is because there is an upper limit imposed or it is restricted to the first two wells in the ES is open...

It would seem that some PI "expectations" have been cooled by the RNS and Presentation, and that much more time will be needed by HUR to evaluate what they have to the satisfaction of potential partners. The gas issue was raised by Edison in their November analysis, suggesting drilling an injection well in 2022. They also suggested Foil in 2020, of course. But now we have HUR saying that they do not want to drill an injection well within 3 years due to "risk of compromising Lancaster reservoir or EPS data collection". It seems there is a real constraint to running at 30,000 as FPSO debottlenecking opportunities are being pursued. Yet 30k was assumed the go-to-value as soon as stability at 20k had been achieved, being 2 times the nominal 15k/well rate, with Tables included in the Lan-CPR. It's true that the EPS ES documented the gas flaring, but I believe that it was a submission. Has anyone seen the approval document and its conditions? Is there a limit on flaring in CO2 legislation? The Lan-CPR (almost 1 year old) says 9.2.2 Gas The draft Lancaster EPS FDP envisages that Lancaster gas production will be used for fuel requirements on the FPSO with any excess gas flared, and therefore, no value or additional cost has been ascribed to the associated gas production. [note draft & envisages] The new style presentation now introduces "What comes next?" The most obvious deduction is that it is all unfunded being post-EPS, and we are reminded that the 20k generates ~$200 million in cash per annum at $60/bbl Brent. Raising production to 30k would generate ~$300m/a. EPS activity is moving (sorry, tightening) to the end of the Gantt blocks, as per Ricfle summary yesterday. jimo joe.

Yes, Biffadog, and the arrival is clearly marked as coincident with or before it has departed, or indeed any time in the next 12 ( that`s TWELVE) months.

I am buying more... he said. And: Oh for goodness sake! ..Delays again! WTF are they doing! Now they tell us they need planning for coil tubing at A5? Since when? ..Following unsuccessful attempts to clear the obstructions using readily available equipment,a contractor with more specialised coil tubing equipment was mobilized. A5 ..The permitting required to begin coil tubing operations is expected to be finalized before the end of March and then, subject to clearing the obstruction, we would resume the 90-day flow test. Again, they tell us now that they have already tried to clear it? I am getting sick of this! Still no progress after all this time! A5 is buggered. They will need to re-drill now for sure! What the hell is 'more specialises coil tubing? What a total waste of money on A5...good money after bad! They never told us it was completed open hole? Didn't they say open hole completion means that they can't use the oil to get a reserves figure? Bunch of liars! I knew this would happen! ..I wanted to sell some at 13p but got caught in the hype. Furious! Could well be the case. They are certainly changing the story all the time! This is going to plummet today. Not a shred of good news today. Everything negative...got to wonder why? I'm not selling cheap mate. I can wait a couple more years if needed. Just would have liked a top slice at 13p. This has been yet another rinse and repeat. Well done selling. I can see us heading back to 9p over the coming days. Another month to wait for news now and god knows what it will be this time! Yes, it looks like they are playing games with us to offload? Very dubious and certainly they will lose market confidence with all these games. In the Dec update, it was 200m we were drilling and it would be quick as so short. Nw we are grinding pipes to even start and we are drilling 445m! What on earth! The problem is, we may end up with more of the same and the market will view it this way after 4 years of waiting! One thing is for sure ..Mms were not expecting this...wonder what they will do! Looks like they sold a lot of shares recently - they could drop it hard on this news. Now we know ..Why our CFO quit and moved on to pastures new. He got sick of waiting too! Down, down, down ..Joke...back to 9p or lower. They are ruining confidence here with all these games! Really bad ..The price says it all. All confidence lost here. Back to square one. They just announced that they have blocked A5 and can't unblock, that 801 needs 450m to drill, that A8 is delayed until Q2 and that the latest shallow well is low oil flow....as far as I can tell, this takes us back to where we were when we were trading at 7p? Hope I am wrong but I am not buying more at this price. I have lost enough this morning. This BOD are a total joke. They have played us all the last few months imo.

rhertig was this your buy? Listed here after hours on Friday at mid-price (black): 23-Mar-18 17:07:00 10.75 55,000 10.50 11.00 5,913 O If so, just wondering why you didn't know until today...

FK "They are very bad at communicating the exact situation on the ground so you need to just accept that these rns statements are a bit of Chinese whispers." reads so much better than " Bunch of liars!" don't you think?

" I imagine he and his team are spitting feathers at this incompetent, drawn-out episode." As long as they are not culpable. " The non-compliant areas were discussed, and it was clear that most of them could not be complied with, as the requirements could only be met by a party that was already in commercial operation." Especially as it was clear...

Any rights issue would have to be accompanied by a prospectus. Skeletons in cupboards may have been evident, and high interest solutions more palatable... jimo.

This could simply be to agree the wording on the 7am RNS. re: suspended pending clarification of financial position. Basically a 3-day weekend, (or 4..) while all the companies and subsidaries (over 300 listed) futures are agreed and government crucial continuous contracts sorted. jimo

I was wondering if you think we'll need a travel visa by then?

"As u said...pointless to vote ... If the big boys want to do it their votes carry the motion." Except that they cannot vote for the 'Whitewash', Resolution 1. They, as a 'Concert Party' hold 69.67% of Roxi. It is only open to the non-'Concert party' holders to vote. You realise that'll be YOU that votes for the merger then! The other Resolutions are all dependant on Resolution 1 being passed. The Chairman can't vote, he has not bought a single share! Once Resolution 1 is passed, you are correct, they will run the company without regard to minor Shareholder involvement, as they will then hold 82.97% of Caspian Sunrise. I suppose there is always the possibility of internecine strife............... jimo

Surely that would be Caspian Sunset! Oh, hang on a minute.....

Just another Caspian Sunrise................

adrianz I found your recent post thought-provoking, an enigma if you will. Why would Mr O actively seek to dissolve his completely separate dormant company having done the filing and yet Mr O & CC fail to complete their filing and the Crown seeks to strike off the company, and bona vacantia ensues? Does Eragon not have any assets assigned, it was the holding company that Roxi bought into and they still did when Galaz was sold, what about the nnn B.V. entities?? But you would be happy to see it go, ...because? I think Monday is the final day of the notice period. Be interested to hear more. jimo joe

That's a no then - just another Caspian Sunrise!

"some couldn't care less" Guess you are referring to the status of the website, then....

Big Tony, RE: 'Secondly............moving goal posts...' Status on their operations website "Drilling programme The BNG drilling programme for the rest of 2014 is to drill a further 5 shallow wells and in the first half of 2015 a further two deep wells." FFS It's still current..............