Member Info for Neversellshell22

The West Nile Delta (WND) project (17.25% interest, partner-operated), includes five gas and condensate fields located within the North Alexandria and West Mediterranean Deepwater concessions off the coast of Alexandria. The fields are developed with subsea wells and connected via multiphase pipelines to onshore processing facilities. The West Nile Delta project is making an important contribution to affordable and secure energy supply in Egypt. BP are the major parnter and operator.....

CAIRO – 12 January 2025: The Ministry of Petroleum and Mineral Resources has announced BP's successful completion of drilling and well preparation for two additional gas production wells at the Raven Field in the Mediterranean.

Currently, offshore installations are underway to integrate these wells into the existing production networks, with gas production anticipated to commence in February 2025.

Following the completion of operations at Raven, BP's drilling activities have shifted to the King exploration area in the Mediterranean. The exploration project aims to uncover natural gas in the Lower Miocene layer, with the target reservoir expected to be reached by the end of February 2025.

Strategically situated near BP’s facilities and subsea pipelines within the West Nile Delta project, the King exploration well will be linked to the existing infrastructure. This integration will contribute additional gas volumes to the local production, aligning with the ministry's strategy to bolster domestic energy output.

The exploratory efforts in the King area are part of the ministry's intensified focus on offshore drilling in the Mediterranean over the past six months. The region has experienced a surge in activity, including Chevron’s drilling at the Khanjar-1 well in the western Mediterranean, ExxonMobil’s operations at the Nefertari-1 well, BP's advancements at the Raven Field, and Eni’s recent resumption of drilling at the Zohr field.

These collective endeavors highlight a growing momentum in gas exploration and production across the Mediterranean, reinforcing Egypt's energy sector capabilities.

Can I ask why you made such a huge investment in 1 company. Do you have other holdings?.

Also the Us and Uk Bond market is rising and the Vix was up over 8%.

Just when you think it’s safe to come out of the cupboard….:.

Im not a defeatist but with oil and Gas significantly up today does anyone have an explanation for our SPs behaviour.

Also can any charist comment on the £2.72 resistance please and how we crack it ??

Blimey MGB,

Thats over 500k. I feel like the poor boy.

Did you hold when they were £5 ?

Hopefully get there again sometime.....

NEW DELHI/LONDON - The United States will impose some of the harshest sanctions yet on Russia's oil industry, according to a purported U.S. Treasury document circulating among traders in Europe and Asia that drove global oil prices 3% higher on Friday.

Some 180 vessels, dozens of traders, two major oil companies and some senior Russian oil executives, are designated in the sanctions, reports of which pushed global oil prices above $80 per barrel. [O/R].

Reuters could not immediately verify the veracity of the document and the U.S. Treasury Department did not immediately respond to a request for comment.

The sanctions, imposed on Russia for its war in Ukraine, would cause severe disruption of Russian oil exports to its major buyers India and China, four sources in Russian oil trade and three Indian refining sources said.

Refiners in India and China became the biggest buyers of Russian crude exports after the U.S., the European Union and their allies imposed sanctions on Russia's energy industry after Russia invaded Ukraine in 2022. Russia pumps around 10% of global oil supply.

Russian companies have adapted by buying their own fleet of tankers and insuring them inside Russia rather than via Western ship insurance.

Washington will impose sanctions on two oil majors Gazprom Neft and Surgutneftegaz and ship insurance providers Ingosstrakh and Alfastrakhovanie that cover most of ships supplying Russian oil to India, the document showed.

Until now, hundreds of ships and many Russian oil traders have escaped the harshest U.S. sanctions as the Biden administration sought to strike a balance between the case for tighter measures and the risk of a global oil price rally.

President-elect Donald Trump, who takes office later this month, has promised to stop the war in Ukraine. Harsher sanctions on Russian oil exports could give Trump more leverage in future peace talks as Moscow depends on oil exports to sustain its economy and fund the conflict.

Hi mgb,

Sorry to hear of your loss which you said is massive.

I assume you were a PMO victim.??

Hopefully the dividends have got you in a slightly better place?

Good luck here on in…..

Looking at how quiet the board is Im guessing that a lot of holders have thrown their hand in after the Christmas period which is the how the market works and makes it money.

Personally Im expecting a pretty big update which could include a huge amount of info

So that being said......

Who is left in and what do you see in the trading update ?

This was the deal we signed in early December in case you weren't aware....

BUENOS AIRES, December 2, 2024 - Harbour Energy (Harbour) today confirmed it has signed a participation agreement with Pan American Energy and Golar LNG to acquire a 15% interest in Southern Energy SA, a company which is planning to develop a floating liquefied natural gas (FLNG) export project in Argentina.

The proposed project involves deploying Golar’s existing ‘Hilli Episeyo’ FLNG vessel off the coast of the Rio Negro province. The vessel will have production and export capacity of 2.45 million tonnes per year of LNG, equivalent to 11.5 million cubic metres per day (or 0.4 billion cubic feet per day) of natural gas. It is anticipated that the upstream partners in Southern Energy will supply the natural gas for the FLNG project, enabling Harbour’s Vaca Muerta natural gas to access global LNG export markets and international natural gas prices. Southern Energy has submitted the FLNG project to the Argentinian incentive regime for large investments, ‘RIGI’ (Régimen de Incentivo para Grandes Inversiones).

Harbour’s participation in Southern Energy provides the company with the opportunity to work with its partners to continue to mature the proposed FLNG project towards a final investment decision and to unlock the full potential of its Vaca Muerta acreage.

About Harbour Energy

Since its creation in 2014, Harbour has grown to become one of the world’s largest and most geographically diverse independent oil and gas companies.

Today, Harbour is producing between 475,000 and 485,000 barrels of oil equivalent per day with significant production in Norway, the UK, Germany, Argentina and North Africa. Harbour benefits from competitive operating costs and resilient margins, and a broad set of growth options including near-infrastructure opportunities in Norway, unconventional scalable opportunities in Argentina and conventional offshore projects in Mexico and Indonesia.

With low GHG emissions intensity and a leading CO2 storage position in Europe, Harbour remains committed to producing oil and gas safely and responsibly to help meet the world’s energy needs. Harbour is headquartered in London with approximately 5,000 staff and contractors across its operations and offices.

Argentina's Oil and Gas Industry on a Roll

On January 7, 2025, Argentina's state-owned oil company YPF signed a key Memorandum of Understanding (MOU) with Indian companies to export liquefied natural gas (LNG) from the Vaca Muerta shale formation. This partnership is part of the "Argentina LNG" project, which involves building liquefaction vessels off the coast of Río Negro. The project has an initial investment of $2.9 billion, potentially growing to $7 billion over two decades. Key partners include Golar LNG, PAE, Pampa Energía, and HARBOUR ENERGY.

The project could generate up to $30 billion annually by 2031, helping to alleviate Argentina’s foreign currency shortages. According to further reports, YPF is also negotiating with other international markets, including Germany, Japan, and China, to secure long-term buyers. The goal is to position Argentina as a major LNG exporter and contribute to the global energy transition, though the project faces competition and sustainability challenges in an increasingly crowded global LNG market.

In December 2024, Shell agreed to become the primary partner of YPF in the first phase of the Argentina LNG project, replacing Malaysia's Petronas. Focused on LNG exports from the Vaca Muerta shale field in Patagonia, the project aims to establish Argentina as a competitive global energy provider. While Shell's agreement does not yet include a firm investment commitment, significant investments are expected in the coming years to develop production blocks, pipelines, and a liquefaction terminal. The first phase aims to produce 10 million tons of LNG annually, with large-scale exports planned for 2027.

Meanwhile, oil production from Vaca Muerta saw a 35% year-on-year increase in the third quarter of 2024, surpassing 400,000 barrels per day. Rystad Energy projects that Vaca Muerta’s oil output will reach one million barrels per day by 2030. Private companies, particularly Vista Energy, have been key drivers of this growth, with more than 20% of the increase in oil production coming from Vista’s Bajada del Palo Oeste field. Additionally, natural gas production in Vaca Muerta rose 24% in the same period, highlighting the formation’s growing importance to Argentina’s long-term energy strategy.

https://infoenergia.info/vaca-muerta/ypf-firma-acuerdo-clave-con-india-para-exportar-gas-natural-licuado-de-vaca-muerta

9 ticks up……..????

What’s the news? Am I missing something ???

UK Gas 114 down 3%

TTF Gas down 6%

Natural Gas 3.6 Uo 6%

Big big difference in the way gas prices are going today ???

If Trump does his “Drill Baby Drill” we are in for a tough time as the oil price will head to the floor.

Hopefully American companies won’t become “Turkeys voting for Christmas”…..

Less profitable North Sea fields being sold.

Appraisal well in Skarv field confirms discovery in Norwegian Sea.

Gilderoy and Jocelyn discoveries in North Sea.

Talbot gas field commenced production end of November.

Successful appraisal at Sabina discovery.

Maria Phase 2 start up to commence production in 2025

3 new wells on stream this quarter, Njord, Amanda and Gt Brittania area.

Drilling rig in Norway booked until 2028 showing long term commitment.

Successful Multi-well exploration and appraisal campaign completed at Andaman

Extra Andaman blocks issued to Harbour and Mubadala potentially 100m oil & 500b gas

Fenix Argentina started production 2 months early. 70,000 boe/d capacity

Gas export agreement signed in Argentina.

Drilling at 2 undeveloped gas fields in Regane Nord Algeria to commence in 2025

2 rigs working at undeveloped gas fields in Algeria from 2025

New Tuna partner (Indonesia) expected soon leading to quick FID.

Harbour plans big expansion plans in Egypt.

Kan appraisal completed. 70% Harbour owned

Zama FEED due for competition very soon.. 32% Harbour.

Polok and Chinwol feeds commenced.

Very positive noises from Mexico regarding speedy development of Zama.

Carlos Slim increases stake by 6 million shares & increases stake in Talos Energy again

Harbour & others receive 243$ million for Carbon Capture & storage Project.

Industry leading emissions intensity

Unit Opex 13-14$

Revenue to September 3.1$ Billion.

Fantastic refinancing 700$ million @ 3.8% till 2029, 900$ Million @4.3% till 2032

Credit rating now investment Grade.

Bank of America confirms Harbour top oil pick for them. Wonder why?

New COO Joined company in January.

Full year free cash flow 300$ million after divs etc

Future Dividend conformed at 455$ million, an 8% increase

Great 85p Gas and 78$ Oil hedges in 2025

Gas at yearly high of 124p

Production currently over 500k bopd equivalent

2025 Free Cash Flow huge increase on 2024

Next update 23rd January

Latest presentation provided….

https://www.harbourenergy.com/media/gmbcb0uv/harbour-energy-investor-presentation-november-2024-updated.pdf

So I think I’ll start with I don’t have the slightest idea what is going on the Letter One, BASF or Slim.

Personally I don’t expect much to change in March. I don’t see either of them selling at the current SP.

Letter One are being paid handsomely to hold these shares with an enhanced dividend.

BASF, I have never understood why a company whose clear intention is to get outbid oil and gas would tie them selves up in such a deal. However they aren’t distressed seller so I don’t see them bolting for the door until they get at least the fabled £3.60.

Slim I would imagine will keep buying at this price as he gets an ever increasing stake not just in Harbour but Zama also.

We have heard on 2 occasions rumours of a tie up with Talos and Kos so no smoke without fire could that help in any way apart from the US listing.

One thing Harbour have always been good at is doing deal and I expect that to continue.

So to round things up…. I don’t have a clue what’s happening….

NSS

Very interesting how busy in America....

https://www.bp.com/en_us/united-states/home/news/features-and-highlights/seven-ways-bp-is-investing-in-america.html

Least we forget our Kan field which we own 70%.

It is located in 50 metres of water, was drilled to a total measured depth of 3,317 metres and encountered more than 170 metres of net pay. The well was subsequently side tracked up-dip and c. 250 metres of core was recovered. Estimate say it may hold between 200-300 million barrels of oil .

We started drilling an appraisal well in August and were still appraising in aNovember so should be good news plus we have started recruiting for this field as well.

So some very positive new from the Mexican government regarding Pemex. They are in the market to do deals and in a rush to do them.

So perhaps the picture is clearing a bit with our hero Slim. Heres how the story goes.

Slim spent over 1$ billion dollars in the Mexican oil industry last year. He owns 24% of Talos who are partners with us in Mexico. There was a poison pen strategy to stop Slim taking over the company but that ceased in December 2024 after agreement with Talos for him not to hold over 25% of the Talos. Its very clear now that we won’t be buying Talos.

Part of the above deal was for Slim to buy more of Talos Mexico (who are our partner in our Zama field) and he now owns 80$ of Talos Mexico.

So, Slim owns 80% of Talos Mexico which owns 17.4% of Zama. He also owns 5% of Harbour Energy who own 32% of Zama. He directly owns roughly about 17% of Zama.

Keep up at the back……….

So we have Pemex who have a greatly reduced budget to invest this year, Slim who has lots of money to invest and a Mexican government very keen to get crackin with a FEED which Im pretty confident is already sorted.

Then you have Harbour Energy who are very busy recruiting in Mexico and here are just a few of their current vacancies……

Senior Reservoir engineer, Pipeline Engineer, Project Integration Geomodeller, Reservoir Engineer, Senior Production Engineer, Sr. Process & Flow Assurance Engineer, Sr. Reservoir Engineer, Supply Chain Manager, Permitting Specialist Controller, Cost Controller, Human Resources Specialist.

Please share your thoughts on the above ??????

While López Obrador’s focus was on keeping oil operations solely concentrated on PEMEX, President Claudia Sheinbaum's strategy to boost reserves and maintain PEMEX's relevance involves key partnerships due to the NOC’s challenges in operating independently. Experts emphasize the need for clear guidelines on private participation and joint risk-sharing to attract investments and ensure profitability, however. Without shared risk and debt, projects would not appeal to investors, and PEMEX cannot finance these projects alone through debt.

In terms of financial expectations, the government anticipates PEMEX will have a surplus of MX$249 billion in 2025. The professional services spending ceiling is projected at MX$114 billion. However, this new financial landscape comes with a 7.5% cut to PEMEX's overall budget for 2025, reducing its total resources to MX$464.255 billion, compared to the previous year.

With the new administration, despite a continuation of oil and gas policy, the private sector expects more clarity over their role in the industry. “PPPs are great mechanisms for the government to encourage investment in Mexico. In the oil and gas sector, PEMEX has the fields and the expertise. A third party can be the operator, and PEMEX can take care of permits and crews. PPPs have been successful in many parts of the world and could benefit the oil and gas sector,” José Pablo Rinkenbach, Co-Founder, AINDA Energía & Infrastructura, told MBN. In this context, Grupo Carso’s growing involvement in Mexico’s energy sector leverages on the ongoing partnerships with PEMEX to continue Talos participation in the industry. In recent months, the company increased its investment in the Lakach gas field, marking a 57% increase in its initial commitment.

To boost Mexico's production of liquid hydrocarbons in shallow and deep waters, PEMEX is partnering with private companies through financial and operating models aimed at reducing the NOC´s operational costs and public risk. One example is PEMEX´s recent US$1.650 billion agreement with CME Oil and Gas and Opex. The Comprehensive Services Exploration and Extraction Contract (CSIEE) is for the development of the Bacab and Lum fields. CSIEE contracts and farmout models have generated opportunities for private providers to continue supporting the development of the Mexican oil and gas industry, and according to experts, these will continue during President Claudia Sheinbaum’s administration.

Thank you for getting a bit happier last few days.

Going to be a very decent financial number when we have our trading update.

Didn’t really have anything to say today but seems a shame not to have any Picard all…lol

If you has a billion $ to invest where would you go.

Mexico

Andaman

Argentina

Norway

Algeria