Member Info for MCB55

FS22, wish it was that simple! Maybe it is?
At least a good indicator anyway.

Yeah....surely an RNS on flaring first thing tuesday, that will be 5 weeks since hook up!?

The reason that HUR included ref to Catcher and Kraken is purely to take the heat out of / confusion around the Dr T statement that commissioning would be 20-22 days and thus manage expectations! Everyone jumped to the conclusion 22 days was for hook up to FOIL, it is now evident that it is not. Dr T is a geologist not a production engineer and he was probably referring to his pet bit, which is the well testing and data collection! He is probably not that aware of what commissioning in the traditional sense entails anyway.

Agree in general, but I think that Dr T will be doing more up/down flow testing and well interaction tests for his geoscientists than normal to gather data. He is not in a rush to produce!,he wants high quality data first and a proven facility. Also there is a contractual angle with FOIL and BW. The vessel is on temporary handover at FOIL and goes on day rate at that point (I think?), so Dr T will want to be sure that it is pretty well proven and not be premature. Which all points to slightly longer than you might expect for 2 wells and a previously proven plant.
Even so 28+ days to commission (& counting) and a further 28 days to flow test, etc, does seem plenty to me!

Aduk,
I know that on p12 there is no mention of rns for introduction of hydrocarbons, however Dr T did say in his Malcy interview that there would be one! Mainly to confirm/reduce the oilfield chatter on seeing flaring.

Yes, my belief is that the 20-22 days was either for commissioning from hook up to 1st hydrocarbons or more likely from then to FOIL, which includes both wells brought on and tested.
It is now 28 days since hook up, so fully expect introduction of hydrocarbons/flaring rns this week and FOIL by mid/late May!? IMHO

Could be a double rns early next week, spud and introduction of hydrocarbons!?

TL plus flotilla fair speeding along at 7.3 knots, be there by daylight tomorrow!?

"I have my own view but interested to hear the views of others."

Several possible reasons:
1) They had previously found the basement but did nothing about it.
2) They tried to buy HE on the cheap, but disparaged Dr T for holding out for a lot more.
3) Similar, but they didn't believe that HE could get finance for EPS, so should take a low bid.
4) Similar, they didn't think that an embryo O&G co could deliver more than promises, not just EPS, but Sprit deal and beyond, FID and FFD.
5) Similar, they didn't think HE could hold onto the license as they didn't have the financial muscle and manpower to develop the assets responsibly to the satisfaction of the OGA.
IMHO

Yeah they were 1p, old pennies!, in a plain bag, was my treat in the car while parents at the pub!

LS/dspp,
Yes I was impressed with dspp”s anaysis and valuations on lemon fool bb too!
It would be great if he updated that for us on here.

DC,
Certainly does, TO status changed to "restricted manoeuvrability" = on tow!?

Anyone know the coordinates for Warwick Deep anchor points and/or the subsea manifold?
ND is over one or the other, which is it?

Cebo,
Yes there will be many ops guys in the commissioning team, but maybe not 100%. So the extra choppers could be the remainder of the ops team plus the geoscientists/petroleum engineers, etc to supervise/check the testing phase?

Cebo,
My remembrance is that Dr T alluded to the need to changeout the commissioning team for the operations team due to limited beds on board, at least a progressive handover over a few days! So maybe the extra flights are for that. So first rns FOIL later next week or lets say monday 15th., that is for "introduction of hydrocarbons". Dr T also alluded to about 20 days well testing to collect data for the Geoscientists thereafter, that is ramping up/down and shut in of both wells seperately. So 2nd rns for production start could be early May then?

HT,
If only it was that simple! I would like to think you are right though.
Today's valuation is not simply based on the NAV of 37mmb 2P reserves, it factors in by risk all the other 2C reserves as well, but not in a strict accounting sense, because of market sentiment!
Even so 2P reserve upgrade to 100mmb, all good drill results and stable EPS production will do wonders for facts and sentiment and underline a rerate to say £1++. I can envisage an overshoot if things get hyper too, as this is AIM, everyone will pile in on a price jump.....and then quite quickly pull out!!
There could be fairly wild ups and downs in the sp while we are still on AIM, albeit with a new base of around £1 by end year. A move to the main market would stabilise such movements IMO. When is that I wonder, my guess now is 4Q19, as it must be mentioned at the Capital Markets Day, for which no date given yet, but as it has been mentioned already it cannot be that far away, say 3Q19, all depending on the success of what goes on before, that is successful FOIL and successful first drill.

I reckon it is the end of tax year effect. People selling to to put in mew ISA next week, or selling to use this years tax allowance, etc!
Wait til Monday and they will be buying back in!!!

laserdisc,
Have you (or any other ship watcher) got membership to marine traffic? The free service only shows past track for 24 hours and following that for the Normand Subsea shows it passing closely the HUR field on its way to Lerwick, don't know whether it stopped for awhile or not!? The ATD and ETA are both Lerwick so maybe a quick round trip?

Interesting, worth keeping an eye on NS then!

Can any of you ship watchers identify what vessel, if any, is over the subsea manifold/wellheads?