Member Info for Pelle

Thanks E, You would be an excellent teacher:-)

Hi Minerb, Is my understanding correct below?

Hi E,

In prospects says RF 49-50% for Magnus
the 60-80 milj 2P in place now, is it based on 50%?
And if RF goes up to 57% ist 60-80 + another 140 milj?

16 January Plethuros wrote

4) do the reserves at Magnus get an upgrade. AB said in his last conference call that Magnus has a current recovery factor of 50%. he said Thistle for example has a RF of 57% and most enquest fields have an RF close to 60%. for every 1% increase in RF is 20mb of reserves. so if they achieve a RF of 57% thats 140mb of new reserves. so any downgrade to Kraken reserves might be offset by Magnus upgrade. At best no downgrade of Kraken just an upgrade of Magnus reserves.

Hi Kraken,

2 billion barrels, is that what it was when they started the production back in year 1970 something?

In the end he says 1 bilj usd in procured equipment.
Hows that possible?

I guess it’s pure opex he talks about. Its was 22,6 in H1 and if I remember correct they said 24-25 full year 2018 because of workovers repairs at Alma. Don’t know why that is booked as opex and not capex. So his number is inline with 2018. But I expected lower due to increased production. Maybe they include the Thristle pipeline next summer in opex too

Very good Squif, It seems video is not the full intervju or?

I thought opex Magnus was around 12-13 usd based on info in prospect?

Cost per barrel 25? Is it opex that was 22,6 H1 2018? I thought we would be close to 20 usd for this year. Honestly this intervju sounds same as he always does but I will have closer look when I come home.

So, it doesn’t look good from our view? Do we pay 409k per day independent if prod is 20k or 40k?

Hi Boggi, Did you copy this somewhere? It looks like it’s Bumi’s view on it.

Kraken, question is how many pipes AK have that need welding? :-) I think best indicator or future improvements is AB loading up additional shares.

Hi Kraken, I think they already did renegotiate with Bumi in last autumn. I remember Enq went up and Bumi down.

Hi Chilting Counting with 62,5% Magnus June forward and current oil price I only see FCF 10 milj/month. Jan - March should be fine with 100% Magnus and hedge. Around 30 milj/month FCF

Hi Chilting, Not the end of world but it impacts debt reduction. In Dec we might not even reached breakeven. In January it doesn’t impact much if we count with having 100% Magnus cash flow.

Hi Minerb

Bit bited now after long days in Davos...
AB said dont be greedy trying hit rock bottom, 15,18,20p doesnt matter in 5 years.

I agree with you its very much a oil price play now and at current price it takes too long to pay of debt.
But things here can change fast, and I believe in higher oil prices over next years and AB will add some more assets.

Dont wait too long with your investment, once all your pieces in the puzzle is on place we might already be on 60p party!

Hi Soder, We have same view on it. What you think about Iran waivers? Let me know if your in Malmö and we could have a chat.

Hi Minerb You plan to buy at bottom when risk at highest? Or take a position when it’s on the way up and things look better?

Hi Squif Yes AB is still on top of the game more then ever. Soon we will be surprised by next Magnus. Just need bit help with oil price on the way to.

Hi Soder, Yes, most people here have same belief as you, just now painful and we try get past these times in different ways. Its little bit more then noise when share have gone down 50% just after RI and added Magnus to the portfolio. What is your take on oil price outlook?