Member Info for MCB55

A HOLD is not negative, it is hedging bets until more information becomes available. Fair enough for a none oilman.The IC man is not an oilman and will know sweet nothing about basements, offshore production, etc. Any investor who wishes to make big money has to take risks based on their judgement, there is no red hot certainty out there. If there was then it would be in the sp already!
My judgement is that there is minimal downside and huge upside to HUR, but I am an oilman and understand a lot of what is going on (albeit not a geologist though) and happy with my assessment.

HD,
Thanks for that, we have basically taken over District 8......all sounds good!

When they have a gas export line!

Some work may well be done on gas compression, but they won't be commissioning it in parallel with oil system, will come later once stable oil flow achieved. Also I believe a lot later, like next year!

Can someone simply explain exactly what we have bought wrt CBD oil please.
Do we now own District8 or just lease the land and greenhouses or are just a partner?
Do we manage the whole vertically integrated business ourselves (including District8) or are there other partners?

Thank you Biffa, that is what I was trying to say!

Foresight,
IMHO FOIL is not when tanker takes oil to market, which could be 50+ days after FOIl defined as stable production, ca 10000 bblsd

Aduk
In fact from a contractual point of view there will most likely be two FOILs, provisional acceptance and then final acceptance,

Aduk,
There is a contractual angle certainly, but FOIL is only provisional acceptance and I would submit that it is quite likely that a few systems may not be fully functioning/ proven / accepted at that point! There will also be a punch list of myriad minor non critical jobs to do.

Agree news about Warwick Deep will not be til well complete ca 60 days from spud, so FOIL will def/must be before then!

Aduk,
Neither gas to GT's nor proving the offloading is on critical path to FOIL!

You are probably having a giraffe, but the waves are low for the coming days!

However first introduction of hydrocarbons/flaring will be this month! IMO

CD13,
Yes us lilies know all that, but 90+% of that should have done before hook up! The only infield commissioning would be leak testing the buoy connections, end to end and function testing of subsea control systems and finally the final function test of all shutdown/safety systems. I cannot see all that taking that long, any day now, IMHO

Cebo,
Ok I accept that, but the time;ine is beginning to look a bit neat in comparison with Catcher?

It is now over 5 weeks since hook up, so is anyone of the opinion that:-
1) That is way long enough for commissioning alone for 2 wells and a pre-commissioned plant.
2) That just maybe first introduction of hydrocarbons (& hence flaring) has already happened, but no rns! However no flare observations from adjacent rigs yet.
3) That just maybe they have started the well testing phase of 20-22 days.
Apart from above, the timeline is beginning to look a bit neat in comparison with Catcher (66 days), because now 37 days since hook uo plus 22 days well testing equals 59 days!! I am expecting them to beat Catcher timeline by a good margin!?

Aduk,
If all the PI's like you and me are fully invested and waiting for news, then where is the wall of money coming from to drive the sp higher? Are there loads more PI's and II's waiting on the sidelines for when the news arrives, must be some I guess, but big money I don't know!
However given the small float of tradeable shares then a relatively small demand could drive the sp quickly, even if only from the short termers/day traders hitching a ride.

is there a sniff of hydrocarbons in the air or is it just poo!?

Nigwit,
I wonder how many Apple executives are flying around the world (or are they all video conferencing)? Also how are all those iPhones manufactured and transported, all at 0% carbon footprint? The offices and data centres are a good start, but way more to go!

The biggest negative to the use of oil (and hence maybe the market value of oil companies) for multiple purposes (cars, planes, ships, power generation and plastics/pharaceuticals, etc) is sentiment of II's! This is definitely moving in the wrong direction, but the actual demand for and use of oil is unlikely to be substantially diminished to any great extent for many decades to come, the revolution may well come in sentiment, but not in real life.In fact the poo may well go up significantly as the supply diminishes due to lack of investment and the demand stays the same or increases. As the third world grows out of poverty, guess what, they consume more energy and demand more material things, like cars.The cost of change is so great and will take so long and there is no real new breakthrough technology identified yet. Electric is not necessarily the answer in the long term, could be nuclear power generation, hydrogen cars, etc. None of which is any where near like publicly acceptable yet. The current demos are driven by sentiment, but there are no solutions suggested yet, except all stay at home (no travel) and hug a pet/partner for warmth. Back to the simple life hey, not sure how many are going to buy that!
There is also the strategic angle of oil from HUR in safe stable home waters, who knows what the Russians will do on restricting supplies to western Europe!
So overall yes the revolution is coming, but cannot see it having much impact on oil price and price of HUR shares for many decades to come, they may actually be enhanced!!
IMHO