Member Info for oiluser

I think he had a labotomy a few months back and �post op� he�s doubled his IQ to 8.5. Go figure!

While a few of us may whoop yee haw! One or 2 amongst the crowd are actually neighing hee haw hee haw. It's usually the ones with lots of nothing to say. I wonder who? I Did It Over There. 😂

Really. Please explain that statement KO

Looks to me that adding .01% to bring a short into a notifiable area I.e. from .49 to .50 is intended to irritate the natives and nothing else, hoping to spur some selling by the wussies in the local PI community. It�s designed to give the appearance of something but it�s actually almost nothing unless the PI,s get spooked. What are the chances?. Russia added 20kbod which is a minuscule increase that will be balanced out by seasonal shutdowns in spring and summer. But you are correct, an increase it is.

January Are you an ejit. Do you follow that ****ant disco dave around the bb like his gimp, I thought you had family.

Agreed ralph, someone like chevron or noble. Lots are concerned about politics with argentina

My original point is PMO should sell SL to fund ZAMA appraisal & development, possibly even increase stake in ZAMA.

Catcher FO delay (short) not an issue. Catcher FU. Big issue for PMO. As for SOLAN, unmitigated disaster and should alert any and all to how fkd these things can be. I doubt PMO made 1 correct call on that project. There are some benefits in this here arangement in that as I understand it RKH is the subsurface lead, PMO surface aka FPSO (which is a PMC role). It will be interesting to see what transpires over coming months as for sure companies have to replenish reserves.

Lots of things get said and published, although its safe to say blah blah never built an FPSO or subsurface infrastructure. PMO have to move forward as per license agreement, it doesnt cost much to sit and negotiate with export finance or indeed some of the manufacturers/fabricators (considering SL is still officially in FEED), to get some non binding agreements on the table. None of it is a committment by PMO to sanction. The purpose if FEED is to ring fence design and operability issues including cost to the maximum extent possible, this is exactly whats being done. Its a staged gate process, when it comes to sanction/decision time lots more than the this project will be looked at by PMO, who will look at internal finances and risk amongst other subjects including the fact that the much touted farm out/in is still ellusive. If that happens then this is a go, without it i think its unlikely.

In what way has my posting been argumentative. I see no value in SL for PMO. Acting as a PM to everyone's benefit but their own is bad business. Simple as that. As I said renegotiate or dispose. I would prefer disposal.

I think that getting those preapproved loan is required for the farm out of 35% and operatorship. As Quakers rightly points out RKH has oodles of cash and loads of credibility. PMO has no spare cash and in my opinion low credibility to deliver this complex and remote project despite all the yearning for same. As for filtering me, why converse at all? Someone doesn't say what you want to hear and you spit out the dummy. As I said before I could give a hoot what the British government want. This project will ruin RKH and PMO to the benefit of some outsider so enough said.

Why, there is no oil without PMO. Getting all excited here about nothing, PMO wont sanction this unless significant buy in from elsewhere! A hard dose of reality is required. PMO wont be able to sanction this unless oil is in 70,s. Thats a simple fact. Saying a project is viable is one thing, sanctioning same is another.

Touchy touchy. Without PMO this goes nowhere, all the charades in the world never brought a drop of oil to the surface. Have you all some notion that this moves without PMO say so.

I dont care what opinion you take, i expressed mine and that i am entitled to do. All i care about is PMO, so my interest is in derisking that share from this high risk project at any cost, 55 being much to low for sanction.

55 just is not good enough. Firstly, if oil manages to go for example to 60, all costs will increase with that. This investment case while on the books may say 55, it needs 70/75 for assurance purposes. People forget this oil is 2 to 3 weeks from markets, and all that time at sea costs money. The guy in first developing is taking the major risk, remote geographical location, oil price/advances in non HC economy and politics. Lots to contend with. I would hazzard a guess that PMO will go forward with 25%/30% on this project and phase 2, and possibly relinquish the operatorship to a farmin to clinch the deal. PMO record on project delivery is not best in class.

Yes, maybe they are trying to buy PMO share of SL.

Cant argue with that rookie, its how business works. PMO has limited exposure to sealion now, and im sure can recoup that via disposal. As far as i am concerned, ZAMA is much more attractive. PMO could increase its stake in that considerably for 350 million dollars im sure.

But the oil price was over 100usd, and if it was still there i would agree with the proposed sanction.

When PMO rid themselves of the burdens associated with this high risk development! For example, does anyone here believe that there will be a "q" to take a stake in this should PMO pull out? Being a holder of PMO, if they move to sanction this project on the current terms i wont be a holder any longer. The arrangement requires a full review, with the carry significantly reduced for phase 1 and removed from phase 2 completely. Loan provision cancelled also, unless RKH provide a guarantee from some other party. As far as i am concerned this is a write off, unless the british government want to take the risk and use PMO as a front to execute the project, again with significantly better terms than currently on the table! Im interested to know if/why anyone believes PMO will actually sanction SL under the current onerous terms.

This share has more bottom than lopez, when you can see 10 days of trades on a single page you know your in trouble.