Member Info for nen2319

Really bad that the 1st thought in my mind when I saw we were 6% + up was about our friend “The Street”? I’ve got a tear in my eye!

Delays related to Hurricane Energy’s Lancaster development have forced Spirit Energy’s drilling plans west of Shetland to be pushed back.

Last year Spirit bought 50% of Hurricane’s Lincoln and Warwick Licences, which contain the Greater Warwick Area thought to hold up to two billion barrels of oil.

Spirit agreed to cover the cost of a £139million drilling campaign to further prove the region’s potential, which was due to begin in the first quarter of the year.

However, Spirit has confirmed this has now been pushed back to Q2 due to delays related to Hurricane’s Lancaster project.
RELATED ARTICLES
Moray East Windfarm tender firm consolidates business
Spirit’s WoS campaign delayed by Lancaster setbacks
Wood wins £6m contract with ADNOC to design ‘world’s largest’ refinery

Spirit’s Greater Warwick campaign with the Transocean Leader semi-submersible is due to take place once Hurricane’s FPSO for the Lancaster field is hooked up.

There has been a series of setbacks in production starting at the west of Shetland field, with Hurricane Energy struggling to hook up the Aoka Mizu production vessel to a buoy installed at the site.

Lancaster — 100%-owned by Hurricane — is thought to hold 523 million stock tank barrels of oil.

Those delays have resulted in Spirit’s campaign being knocked back.

First oil from Lancaster is expected in the first half of the year.

I’m bloody hoping we are bought out before the oil runs out lol!

To be fair to the company. They just received an email from someone asking them if they have a piece of kit which is a crucial part of the operation they have tried to complete and failed twice. I guess if they were going to release any information which let’s face it we are all waiting for then why should they give that to individual requests?

However, they could release information not deemed as price sensitive vis twitter etc. I agree with that!

I did make a cheeky request to IR if the Rope had been delivered but I got a reply saying they won’t go into that level of operational detail.

So we just have to sit and wait.

Yes it’s either to manager the premium or to satisfy market demand. They have the authority to issue up to 5m shares,

I remember the good old days of LGO when a 7% rise on there would have meant 1000 posts!!!

Here we get 1 post. Still let’s hope it’s a sign that the seller or sellers have finished this round and we can re climb back to at least 30p. Fingers crossed that given deadlines are now hit as we must be close to the end now??

Just looking at the annual report for 2017. It shows that AK received approx 0.5 million Dollars as salary but also got 1.2 million dollars in performance bonus. Does anyone know what the performance targets were to warrant such a payout?

There was a flight scheduled for 4pm today but it's no longer showing.

http://bristowgroup.com/clients/flight-status/

Helicopter booked for tomorrow @ 2pm.

At least we can say the placing was at a premium now :-(. My lowest buy was 25p so bloody hoping it doesn’t go there again.

All eyes on the next few days for the anticipated news. Surely cannot be delayed again. I’ve got fingers crossed they’ll keep their word this time.

Well the alarm is set for 7. Hoping for the best but prepared for the worst! Guess we will be suspended if not completed by then?

$23m is a lot of working capital especially when you expect circa $90m soon for closing the 7E transaction. The key point here is at what price will the placing get away at. Previously it’s been a premium so let’s see if that’s still the case.

A lot of the BOD are buying in this time so let’s see the price?

It was in an Enquest RNS before Xmas that the drilling started late so they were also delayed. Makes sense that it’s also going to be late coming to us.

The qtrly report should be due soon surely then we can see where we are?

For something as risky as this, I’ll take my original stake out at 100% and then ride the rest and if it goes tits up then you ain’t lost anything.

Crazy. I bought in this morning and now 25% up.

Isn’t the Leader delayed on her current job by some 4 weeks? Which means a delay for us also.

Looks like she’s given up in this window and will be heading back to Cromarty.

Too late lol 😀. I’ve already got well over 6 figures in 3 different acs so I do think it will eventually rise but I also keep my feet on the ground and understand that we’ll be at the back of the queue when the moneys handed about. I’m not into hero worship or talk of £2.50 a share. Have a look at the “performance bonus” paid last year and the SP now.

The hurdle price was reduced by a factor of 4 from 168p to 42p allowing for a near 4 fold rise in shares in issue. Isn’t that the point I was making?