Member Info for MatrixObserver

Looks like Dana's new well (OGA well 210/24a-B10) at Western Isle is now operating... Hopefully see some tugs soon for TL's relocation to Alma... MO is feeling optimistic.... Good luck

MO also learnt, never try to second guess tankers... But can guess... possible STS tanker for Scapa Flow... Can hold 600k Kraken Oil Jun 8 - 18:00 NS Concord Crude Oil Tanker Now just need to get eye on shuttle tanker... Could be ???? Good luck ENQers MO

Hi Auson... Cannot be certain, but sure seen mentioned on PMO bb that approx 10% convbonds and warrants outstanding, so could be arbitrage shorts... Not followed it closely enough to be certain... MO never expected Poo so soon > $70 so has been pleasant surprise, did say $75 is new $100 barrel, due to cost reductions etc. Hopefully calm is maintained with OPEC/NOPEC meeting... Anyway, closer to home... #17 where art thou ??? Hopefully here this week... MO

Think shorty is hoping for some bad news, don't think will be forthcoming... Can foresee very positive H2 for ENQ (Poo allowing)... But have learnt, naughty shorty will do what will... Good luck all MO

Data just out.... Looks like naughty shorty has increased on ENQ, 5.91% as of end of May. PMO has reduced to 9.8% https://my.euroclear.com/apps/en/monthly-stock-loan-data.html#month=eq:5&year=eq:2018&limit=0&search=1 Good luck MO

Hopefully NO-PEC surprises in June 22 meeting... Have heard rumblings Kazakhstan wants to increase production quota a little . Think OPEC/NOPEC have taken it too far to let it unravel now, sure can still clearly remember the pain of Poo in $30s, still need to attract new projects and debts still abundant across sector worldwide. Think $72 looks to offer support, can look at 12 month Brent, can see last June was circa $45 so has had a good run, MO will stick with macroeconomics and fundamentals behind Poo, but takes nothing for granted. Good luck all ENQers MO I spy with my little eye, something beginning with "T", only joking, come on #17 MO and fellow ENQers want ya :-), is now almost 10 days of potential production since #16 departed, 11th/12th day is hoped for...

Hey KO Think ENQ will need to prove to market that 2018 will be transformational, hoping for steady flow of good news over H2 18 and H1 19. Is definitely a long game, but hopefully will eventually get a better pricing from market, MO happy to be in ENQ and unless world collapses should do well over next few years. Cheers MO PS... May's Stock on Loan figure should be out soon, can see (access as guest) https://my.euroclear.com/apps/en/monthly-stock-loan-data.html#month=eq:5&year=eq:2018&limit=0&search=1

Won't be Heather Knutsen, is off to Alba field... Maybe Amundsen Spirit (of Youtube fame), also new tanker Jasmine Knutsen (would be if came to AK)... A couple others around also... To get to Kraken field takes a good two days underway from Netherlands or Germany, can do from Aberdeen or Macduff in less than a day... Still hoping for 7th June if works now complete, a couple of days later if ongoing... Think Poo is in hands of Poo Gods, Oil/Gas will still be needed whoever manufactures the goods... Come on Kraken, show us your roar !!!! MO

Soz, was not one of MO's clearest posts... $400m in 3 years is for 20% (to give idea of profit value for farm-out), current 70.5% = $1.4b profit in 3 years, approx $3b over first 10 years... Is only rough calcs, can see $2.3b CAPEX repaid in approx 7-8 years with interest etc Can see the value with Poo around $75, hopefully will become the norm... MO

Magnus 100% is they way to go... Short term though, if ENQ take the $200m vendor loan will be restricted to 50% of 75% Magnus cash flow until consideration is repaid (is how MO read it). Pretty sure will only farm-out 20% of Kraken if price is right... also will affect DC4 CAPEX of approx $130m for 70.5% (circa $30m for 20%) MO did some back of fag packet calcs, and if can manage circa 45k bpd for first 3 years at current Poo will generate approx $400m profit, then over next 5-6 years at lower rates can contribute another $400m, with additional 10-15 years at lowers rates, have some upside at the field which can be realised in phase 2. Anyway... Speaking of Kraken has now had 9 days of full production since last tanker left... Lots of candidates for #17, think may be Heather again... But hopefully soon will find out... Good luck all MO

If OPEC/NOPEC maintain sanity should be ok... Not sure if seen, is good Permian info, updated at same URL every month, usually last week... https://www.eia.gov/petroleum/drilling/pdf/permian.pdf Can see per new well production holding steady, did expect slight decline as good wells chosen first... Natural decline appears to have accelerated, can also see Permian have added approx 1m barrels per day since OPEC deal started end of 2016. Good one all MO

Hey E121 Yes MO looking forward to TL moving to Alma... Checked OGA well database yesterday and only one out of six Alma wells reported as "operating", so think might pull all production strings, think have plans to replace 3xESP, could add 10k+ gross, maybe a little more when all online... MO likes things working optimally, so looking forward to Alma fix., same for Scolty/Crathes Rome not built in a day !!! Have good one.... MO

Hi Acchi April was never a concern for me... Was the period in May awaiting #16 ENQ have re-assured regarding reasons, i.e. well modelling, stopping starting and final commissioning as to reason for delay in #16 Will have better idea at #17 Good luck MO

Cheers E121 Noticed got correct 78.6% on W.Don (still wrong on ENQ website), can also add Chevron's Alba @ 8% WI (gross 10689 / net 855), every little helps... Have populated my spreadsheet including assoc gas. NNS having good run, new Heather well added 1.5k+ at the mo, looks like AK produced about 25% of Feb due to March shutdown.. With Gas (excluding Malaysia) Latest Tot Boe Ave 20,938.68 NNS 16,569.82 4,459.67 CNS 6,644.62 7,850.42 AK 9,866.49 33,248.77 TOTALS 33,080.93 Looks like a couple of fields took a little hit in March... Good luck all ENQers MO

O Tanker, Tanker, wherefore art thou Tanker? Soz all... Rose' won again :-) Is only 7.25 days since #16 departed.... But MO not counting ;-} Back to garden Have good-un MO

Good morning KO 20k is stated, but probably won't do that on a sustained level... "Located in water depths ranging between 95m and 105m, the fields are 9km apart and approximately 133km from St Fergus on the north-east coast of Scotland. The fields were developed at a cost of approximately $125m. The field is anticipated to produce approximately 20,000bpd of fluids and have an expected life of 15 years." Link: https://www.offshore-technology.com/projects/scolty-and-crathes-field-development-north-sea Scolty (farthest away in daisy-chain) has produced for only 2 months and has been shut-in since Jan/Feb 2017 and Crathes, even though has continually produced is about 40% of target (currently 3K+ bpd). Maybe try a wave powered heated flowline... anyway, that's for 2019... All eyes on Alma ;-} MO

Is last one.... :-) US +1, Canada +18 Source: http://phx.corporate-ir.net/phoenix.zhtml?c=79687&p=irol-rigcountsoverview MO

...Prices by API Gravity MO realises is two months old min... but is just out.... Can see how heavy oil is slowly growing in price versus lighter oils... Also understand is WTI, but most Kraken oil does go west... Anyway, can see: https://www.eia.gov/dnav/pet/pet_pri_dfp3_k_m.htm MO

Have good time FK, sure it will be ;-} Think tickets at current level will be limited, easier to get Ed Sheeran on Via-gogo :-) MO has collected a few tickets and happy.... think so has Sunny Beach Boy and Sankeys Fancy first ride on Bus 801... Destination.... Flowville :-) Have good-un all CASPers... Hopefully a summer of love... Ding-ding... All aboard... MO

If can be honest... Think Alma is what MO's most looking forward to... Followed by 2019 Scolty/Crathes pipe fix Has been 20 months in the waiting, FPSO Enquest Producer is all ship-shape and ready to produce efficiently... Not long to wait now... TL should be released by Dana this month !!!! Pretty sure KUFPEC looking forward to some cash.... Is another lucky one if reserves not impacted... as 20 months ago Brent Poo was $49 per barrel :-) Good luck all MO