Member Info for johnpwh

Orkney harbour website now saying Petroatlantic leaving at 1.00 hours on 25th February destination unknown at present

Thanks all. I am a wet behind the ears beginner at this! I'll go back to my hoovering

Navion Oceania has Estimated Deapartire (well its close) Date of 'TBA' with destination West Shetland according to my new favourite website

That was partly wrong, the bondholder can convert but at a pre-determined price of $0.52. Not sure if that is on predetermined dates (which is usual for such securuties) or on demand. So they wont do it unless they are daft, they cant convert at the current SP and then benefit from the HUGE bounce that will occur this week...…..
Having a bad day, I'm accelerating my afternoon nap to right now. Night

Ooops! It was in fact lonestag at the start of this thread. Sorry lonestag, senior moment. I have added the Orkney harbour website to my 'favourites'. If I every get my laptop seized by the fuzz for suspected nefarious activities they will pity me - no naked ladies just monumentally dull browsing history

lonestag
The conversion terms of the bond is fixed in respect of the bondholders rights. The company can itself elect to convert earlier than 2022, but not the bondholders. I think there is a useful RNS on the HUR website mid 2017 which describes the various parties rights. Hope this helps.
Don't lose sleep thinking about HUR bonds, I think its the least immediate problem!

The weather looks calmer this week but will take time for the swell to die down. Someone (sorry cant remember who, so apologies for not giving credit) linked to the Orkney Harbour website, that suggested Petroatlantic leaving on Wednesday and Navion Oceania also hanging out & chillin' (after returning from Glen Lyon so may have unloaded?).
You lot have turned me into a shipwatcher. Hurricane, Pah, turned me into a shipwatcher. I want my life back!

Lonestag
Don't really want to enter into todays to-ing and fro-ing (I think I am starting to suffer HUR fatigue) but 20,000 bopd was scheduled from the start of the month, so 22 days not 32. Production prior to that was c. 9000 bopd, and the transition between the 2 production rates may well not have been instant. So the good ship AM may not be bulging at the seams yet. I too had noticed that other tankers have been operational in the last couple of days, but maybe there are reasons I don't understand (I hope so)

I was very interested in WhichWays post. As I said yesterday I am all for views that are more critical provided they are reasoned.
I think BlackHoppers point c) is also on everyones mind. Why spend many millions (I don't know how many) drilling a prospective production well, achieve it and establish that it flows at commercial rates, have a FPSO with capacity to exploit it sitting there ready for plug in and then spend further millions to P&A rather than proceed and generate revenue? Maybe there are very good reasons, in fact there must be, but we as PIs who only have exposure to the oil industry via the local petrol station cant see them. I need spoon feeding the reason, as otherwise the significant delay between the prospective P&A announcement and clarification (hopefully) in the CMD presentation helps destroy the SP.
If that is the case then maybe HUR should be a private company, as efficient development of the fields cannot be achieved while keeping 'the market' happy.

Fair enough. I agree that AAU is still very investible, I'm still in too
John

**20,000**

…… a collective sign of relief when we see a tanker chugging towards the AM. I assume its weather, otherwise on past form I do have a question in my mind whether the 'facilities have been available' at 20,00 bpd since the turn of the month

Ash
I know you have expressed some apprehension about the deal. Do you think, like I do, that the increase in profitability of Red Rabbit (due in part of course to PoG/PoS performance) should now make holders question the terms of the proposed JV and whether to vote in favour? I would remind peeps that the JV will reduce (financial) interest in RR from 51% to 23.5%, a reduction in excess of 50% for a one off $25m payment.

I'm not answering you because with a subject line like that I think you are just speculating with no research. Others may be more happy to however, so I hope you get a reply. Maybe I'm just getting old and grumpy!

JAdam
Could you recommend an introductory text/article to Charting for a ****wit like me? I am thinking of an overview at this stage to take some of the mystery out of it
John

So JA do you regard yourself as a long term holder of HUR, or will the charts inform/dictate your continued participation in the share?
How do you resolve a conflict when the fundamentals suggest one thing but the charts another - in other words with regard to reacting (PoO, coronavirus etc) do you see the charts as lagging the news. I can see that charts will deal with human psychology, resistance levels etc due to historic buying patterns.

And in fairness Dr T has always given a long term cost average (estimate) of $500. Seemed to have reached it quite quickly from the £300s, not trying to be negative just noting. I saw it in the RNS with an asterisk so did expect the note to clarify, but didn't. However the result could well lead to Proactive/BRR interview later so may be mentioned then

JAdam
I am not a chartist, its good to have someone contributing that is. I suspect the CMD is hanging like a looming giant that we all currently anticipate and fear in equal amounts. If Dr T gives a clean bill of health (and doesn't shout at people) there could be a substantial sustained rise. But I fear any negativity will be picked on again. Fingers and toes crossed on the day, hoping we will be able to hear it broadcast but seem to remember live coverage being pulled that time.

Inevitable. Many, perhaps less commited, holders have bought in over the last couple of months at 40, 26, 33 etc etc. We will battle here but that shouldn't deter long term holders. A slow sustained rise would be welcome from this punter

They don't allow school yard fights anymore. 'elf and safety