Member Info for Piltick

Go Sirius is heading back to Darwin, and will likely arrive there tomorrow evening. Probably back-loading materials and equipment from the last job, if they have completed, and will then bring out materials and equipment required for the Buffaloo job. Back at the rig Tuesday or Wednesday, perhaps.

NoEasy, I think that the AHTS Pacific Valour is there to look after the FPSO Montara Venture, so probably won't be taking part in the tow of the Valaris. The two AHTSs Skandi Atlantic and Go Sirius should be able to do the tow by themselves, although there is often an additional smaller tug to lend assistance.

The Skandi Atlantic is due back at the rig from Darwin about midnight UT, so after they've transferred cargo to the rig we may see some movement in the next couple of days.

Thanks Doc. Yes I think that statement is probably a strong indication, as you say, for the "long" date.

Any suggestions as to when we might expect Financial Close to happen now?

I expect that any storage or long distance transport of hydrogen would be in the form of ammonia.

"Protos Plastics to Hydrogen No. 1 Limited, the special purpose vehicle (“SPV”) has been established by the Company’s partner, Peel NRE..."

This is hardly news, the SPV was established on 12th February this year.

Bear in mind that according to TY, when they say fully operational in 2023 they mean including production of hydrogen. But the plant should be fully operational and generating electricity during 2022. Well, the was the explanation given by TY, so it depends whether you believe that or not!

I wish they would give us a proper timeline. "2023" covers an entire 12 month period!

Yes it does!

Yes it's a shame, the idea that if everyone stops investing in oil companies' shares then oil production will be reduced. The really sad thing about it is that it is all about perception and ideology and not reality.

The "greens" need to push for alternatives to oil to reduce demand rather than reducing production of oil that is still required to keep the lights on.

"Price and delivery a little different to pre-pandemic times??"
Or perhaps,
Price and delivery a little different to pre-Brexit times??

These last two points are very important. This is not an exploration from scratch, this is an appraisal drill on a field that is known to contain hydrocarbons. It is also expected to be a relatively short drill lasting approx. 30 days, all being well (no pun intended!). So the well will be drilled, tested and logged, and data produced. We will hopefully know more before Christmas.

This doesn't look like good news.

There are two AHTS vessels with the rig at the moment, and a third one, the Pacific Valour, on her way back to the rig from Darwin, due lunchtime tomorrow. They could be preparing to start the rig move next week, which would fit in with the estimated spud date around second week of November.

I you predict something often enough it eventually comes true!

Hydrogen Utopia IPO:
https://www.hydrogenutopia.eu/news/14-9-21

My honest opinion FWIW is that no-one is thinking about takeovers at the moment, least of all Peel. It seems to me that Peel are reluctant to fork out about £12M for their 50% of the SPV for the FOAK, so I certainly wouldn't expect them to be able to find sufficient funding for a buy-out that would satisfy PHE shareholders, especially the White family.

If they haven't heard of PHE, surely they must have heard of Peel's Protos Park!

alkin "Not sure we are ready for tons of hydrogen just yet..."

Thing is, they don't need to produce and sell hydrogen for this project to be viable because they can make a reasonable profit just producing and selling electricity. If they do that, as I believe many of the DMG installations will do, then they will save a good whack of Capex by not installing the PSA equipment required to produce hydrogen.

Very true Dr.A., you can take a horse to water but you can't make him drink!
Probably a bad analogy!

It all seemed to go into limbo after DR left, and I always had a suspicion that his leaving was because of TY. So all in all, TY hasn't done this company any favours, and he's still around as consultant!