Member Info for PipeDragger

(it was a joke) Sorry you took it seriously

(maybe short of cash to pay salaries - have some paper instead)

Interesting to see the delayed presentation. Lots of good things for investors for the future (not for now). I'll stick to my guess of 2024 before we see a chance of 1st oil from Galeota and 2023 before onshore production is significantly higher than now. The message on dividends was a polite no: which I can understand but that means this remains a long term hold with not much hope of a medium term recovery in share price. For the onshore developments they should be able to fund out of cash and small borrowing. Main risk is the spectre of another shareholder fundraise to fund Galeota - I know they don't want to, but they may have to - that could easily drive the share price to new lows. Only consolation is that the management are also major holders and won't want to drive value down.

Mountainous: the market is an deep funk worrying about CV-19. Some selling going on by people worried we might see a dip like the 1st lockdown. (Good time to buy if you have done your research)

Anything can happen. Then when there is first gas there is a short period of flow stabilisation. Step one is first gas and IOG sounded a bit wobbly about it happening before end of year. Markets reflects that wobbliness.

Luck, I have been invested in Trin since 2017, almost 5 years. First purchase was around 120p in today's terms. (12p before the consolidation). That's the price today - no gain. I also invested in TXP which is up about 10x in the same time frame. TXP are not as financially secure but they have been putting in the effort. Fortunately I invest widely. IOG look like ready to first gas - that has been a looooooong wait as well. But don't take share tips from anyone on LSE

Well l if it drops below 100 I will average down again. It is a retirement fund share. (I am years away from that).

Farm down is stated as 6 to 9 months away. Then FID. Then contracts placed. Structures have to be designed and built, wells drilled, pipes laid etc. That might get something in by late 2023 but 2024 is more likely.

So now they have an FDP which is good news. It would be interesting to know the reserves in place and the expected field life (publishing the CPR would help). A partner to find, a few wells to drill and facilities to build. Anyone guess on 1st oil? I would guess from other fields I have worked on it will be 3 to 4 years time which probably explains the modest market reaction to the news.

I wonder what's happening to the CPR on East Galeota. It was due in October (according to Sept presentation).

Positive thinking and the conspiracy theories constantly written here won't save HUR. Perhaps the management will get a bit lucky and find some way to squeeze a little more oil out. Crystal Amber are in just as much trouble from their investors.

(No I write with direct experience of working on West of Shetland fields). I lost money on HUR as well. They just got it wrong.

It is quite simple. Hurricane made assumptions about reservoir connectivity that turned out to be incorrect. It is the hardest thing to assess in any field. West of Shetland has difficult reservoirs and it gets even harder in the "basement" depths.

Just one producing well. It may bubble out next month. That means end of production. There isn't another plan at present. If they gamble on drilling more wells then they could default on bonds. Maybe there is some master plan waiting.......

IOG has been a slow burn but the people behind It have form and know what they are doing. Getting finance from LOG was painful but necessary. Acquiring Bacton and the old pipeline and tying up more gas (as per the old RNS) are all astute moves. I expect the rewards will be seen soon. First gas expected this side of Christmas!

Once soon a time there would be a big surge following yesterday's RNS. Not this time. All priced in, as they say.

A plan for when the well bubbles out would be something.

Looks like you called it right

JakeK,
You are correct. It's not great.

Don't see the positive here. It might bubble out as early as next month. Or it might be 6 weeks later. But the well is finished. That isn't great but is what the RNS says.