Member Info for MCB55

extrader,
I agree, the oil is sold to BP offshore as the tanker is loaded, it is BP's decision where and when it sells the cargo and has zippo to do with Hur at all. Anybody who thinks otherwise is deluded and a conspiracy theorist!

"How much oil and gas will be needed to produce electricity to run electric cars?

The only difference will be the relative efficiency of a power station vs a small combustion engine!
Electric everything is seen as the answer......it is not......unless we are prepared to invest in nuclear power stations!?
Also EV's are currently seen as cheap to run, however wait until the tax take on petrol/diesel goes down, the tax will just be transferred to electric!

Johnpwh,
I agree in principle.
Even in if 2050 carbon neutral is achieved (which I doubt), that does not mean zero oil consumption/demand, just that there will be means of carbon capture developed to offset the use of fossil fuels.

Aduk,
I actually believe there is a data room where all the relevant data, samples, logs, cores, etc are presented for all to see, rather than allow parties to just have a printed summary like the CMD presentation. It is the gateway to know more if they are truly interested, and will be updated every 3-6 mths as new relevant information becomes available.

I also believe that Hur are currently proactively looking for a partner to develop Lancaster through to FFD, or a full takeover, whichever comes first and is deemed to be a good deal.

I think that NT will update us again say mid/late Jan with xmas sales figures and start of seed selling, certainly before end of 1Q anyway. That will be the real turning point, assuming good news of course!

Of course if a serious player shows real interest then the data room and more would be made available!
In the meantime, while awaiting an interested party, Hur have to show that they have a credible future plan to develop their assets, not only to ward off a cheap hostile bid, but also to satisfy the OGA.
I believe that the mists will begin to clear come the CMD, there will be some clear definitive statements made regarding assets, 2p and 2c, 2020 drill plan, date of move to main market, etc.

I doubt that the data room is open continuously, I would suggest that it might be reopened post the CMD, that is after Hur have digested, analysed and concluded their interpretation of the 6 mths EPS data, and recent drill results.

SG2
I totally agree with you and Hur on perched water, imo there is zero chance of this being coning!
That is for many reasons:
- the OWC is 100's of metres down
- the two wells would both be affected if coning
- also all the reasons Hur have given, water quality, non rate dependent, etc
Even dspp says the most likely explanation is as given by Hur! I think dspp has been over thinking the subject based on very limited OGA data.

Yes

"So why did they P&A WW? Because that was part of the deal with the OGA my theory goes. It was never about being a producer well (unlike the shoot for the stars and hit the moon WD was) which is why the 2 RNSs have different wording - disappointment in WD but 'we had to P&A for legal reasons in WW."

I agree that WW was never going to be a producer just an appraisal well to help delineate the field and prove FB a bit more, it is too far from AM to tieback and no infrastructure yet planned to develop independently and so OGA required it to be P&A'd. However not sure why it was horizontal though, maybe to check the amount fractures encountered and hence prove the FB theory a bit more.

I have previously cautioned that the half year figures only go to end September, and therefore will not be stunning. However I am sure that NT can and will comment on recent sales/demand since then and most likely also put forward a 3/6/12 month projection.

I think a lot of AIM investors are of the "get rich quick" ilk, or in other words "fly by nighters", that is what unfortunately is driving the sp right now!
The LTH's and II's generally don't sell (except for maybe a bit from CA) so those that move the sp are mainly short termers who cut their losses and move to where they perceive a quick buck!

Rev,
I agree in principle with most of what you say.

I agree that the OGA has been a key player here. They want both fields delineated in greater detail.......why were all 3 wells on GWA horizontals? I think Spirit pushed Hur for that plan and now after mixed results the OGA says no more get back to the basics of delineation. Also same applies to GLA now.
Hur have to do a very careful balancing act, going for more production on GLA, satisfy the OGA for more delineation on both fields, show that they can "go it alone" to the market as well as satisfy the OGA licence commitments, whilst also providing sufficient substance (with production and reserves) to entice a buyout or farm in!

I personally don't know the status and capacity of the produced water treatment system. I think that right now they are still finalising the full commissioning of the system.
Water is separated out in the main oil Separation system and this water is then further treated before disposal overboard (if it meets the strict discharge criteria) or back loaded.
My belief is that is why Hur are mainly, but not exclusively, producing from the dry well!
I expect the water treatment system should be fully commissioned shortly.

At this sp I think the final capitulation has arrived already........the only way is up!

On that basis I believe the half year results and general update will be next week. No point leaving to xmas/new year as no benefit gained.

Also Scotland would never meet the economic/debt/currency criteria required by the EU, so rejoining the EU post independence is a pipe dream, as is all the other milk and honey dreams perpetrated by the Nats !

I think it wise to not put out a trading update this election week, would get buried in all the election news. Fully expect it next week though!

Jiffybag,
The reason RT has got so many shares is because he as the founding shareholder issued them to himself for free/nominal amount.
AS has plenty of incentive from the company bonus scheme!