Member Info for proverloop

Rangers1: Despite having no experience in production, probably like you,
Some contributors on here make holes in the ground, I've been sitting emptying holes since the early 2000's.
I was playing golf over in Cullen at the sare heidie on 2nd January.

I haven't sold any either, I actually bought more on the way down at 35.5, in hindsight I should've waited until 30, but i didn't think it'd come down this far. I'll continue to hold, nursing a 5 figure loss at present.
All the ****** about water is just guff, the online well is producing a water cut of less than 2% which is as expected, the AM can handle 20000bbls of water a day(according to the Bluewater website) even if the produced water system isn't working at full capacity of even 50% it will still be able to knock out the amount of water being banded about via separation and cleaned up through the hydrocyclone (oily water clean up)package & disposed of to sea as long as it meets the OIW standard. I've read some crap about it being kept in a sump tank and transfered to a passing tanker, that just doesn't happen any waste water or oil is just recycled through the separators until the water is cleaned up this just goes on & on, its not rocket science.
Roll on CMD so the the Doc can finally shut the doubters up.
GLTALTH's

percent of the difference between the on-sale differential and an agreed benchmark value based on the oil's expected market value). The BP Contract contains stabilisation provisions whereby if a change in regulations has an adverse economic effect on Hurricane, it may request a renegotiation of the price. If the parties cannot agree such revised price within the given timescale, Hurricane may terminate the BP Contract. The BP Contract restricts the Company's ability to dispose of a part or whole of the Lancaster oil field in the following ways: (a) BP may terminate the BP Contract in the event of a farm out where the new licence holder does not meet BP's "know your customer" and anti-money laundering clearance processes at BP's sole discretion (acting reasonably); (b) BP may terminate the BP Contract in the event of a change in control where the party acquiring control does not meet BP's "know your customer", anti-money laundering, sanctions and other regulatory requirements placed on the acquiror; 265 (c) in the event of a farm out, the Company must use "all reasonable endeavours" to procure the new licenceholder enters into a marketing agreement with BP; and (d) in the event of a farm out which reduces BP's marketing entitlement to Lancaster oil to less than 40 percent, the Company must pay BP compensation (subject to DECC's approval of a FDP unless the Company disposes of its entire interest).

Part 1 of 2 (Http://www.hurricaneenergy.com/Investors/AIMRule26/). Given the speculation about BP and the assumption by some that the only current involvement by BP is a small shareholding, here are a couple of snippets from it about the "BP Contract" to ponder at your leisure (the "Company" so mentioned is Hurricane Energy plc; The "GLA" is the Greater Lancaster Area): Page 32 "On 15 April 2013, the Company and BP Oil International Limited entered into an oil off-take agreement pursuant to which the Company sells its entitlement to oil from the GLA to BP (for on-sale to third parties). Further details of the oil off-take agreement are set out in paragraph 12.4 of Part VIII of this Admission Document" (shown below but actually published as paragraph 12.5 rather than 12.4) Page 265 12.5 BP Contract The Company is party to the BP Contract under which Hurricane agrees to supply and sell its entire entitlement to the crude oil produced from the Lancaster Oil Field (Block 205/21a) to BP on an FOB basis and BP agrees to take delivery and purchase such crude oil from the Company and to market such oil to third parties. The BP Contract expires on the later to occur of (i) six years from the first commercial oil production; and (ii) the marketing by BP of fifty-five million barrels of oil; but the term may be extended by the parties for successive twelve month periods. BP may terminate the BP Contract on thirty days notice where the Company does not commence commercial production by 12 April 2020. The BP Contract terminates automatically on the earlier of (i) cessation of production; and (ii) 12 April 2028. The key provisions of the BP Contract are conditional upon BP Marine Assurance's approval of the FPSO; and BP's confirmation that the health and safety policies at the FPSO are satisfactory. The price which BP pays Hurricane for the oil it buys under the BP Contract is dependant upon the price at which BP sells such oil to third parties including a profit sharing factor for Hurricane, based on such sale price. As such, BP's payment to Hurricane is calculated by taking (i) the average of all the high and low quotations on Platts Crude Oil Marketwire for Dated Brent during the first five days of the Bill of Lading month (subject to BP's election to adopt such average from a period at the end of a month); plus (ii) the differential to Dated Brent in BP's on-sale price to third party offtakers FOB at the delivery point (or, if delivery terms are not FOB at the delivery point, then the differential is netted back to BP at a level that reasonably reflects a FOB delivery point differential to Dated Brent using the actual figures); less (iii) a marketing fee. The marketing fee consists of a fixed fee element (US$0.30 per barrel up to 15 million barrels marketed and US$0.15 per barrel where over 15 million barrels are marketed) and the above mentioned profit share element (calculated as 25 percent of the difference between

Scrapper Pigs are like a large dumbbell with a series of scrapping plastic disc's at each end, as the plastic won't damage the internals of the pipework.
Also there are foam pigs which are bullet shaped, also on an annual rotation an intelligent pig is launched which has sensors which can be downloaded to check for any corrosion or pitting in the pipelines.
WW if you work on the Bleoholm ask any of the OTL's onboard JY or AE they'd be able to show you the set up on there.

Apologies, I meant water cut not OiW

Acquiring data is what they (we)are doing, I'm not sure what the fuss is about , the price has taken a battering originally due to the results of the final well test in this years drilling programme, from what I gather they've tested WW to gather as much data as possible which will help with FFD in the future. (hopefully near)
Also a bit of scaremongering (imho) re; coning.
C A don't help the price by selling into pending results but that's how they make there money.
If there were issues with Lancaster wells 6 & 7Z they'd let us know in good time ,(hopefully) meanwhile we just have wait for any official company updates, as deemed necessary.
Meanwhile here's my unofficial update the well which is online is producing @ 25% above the Q4 guidance & the OiW is in line with company expectations.
Its a difficult game to understand when the bad news affects things more than the good news does (the good news is we've been producing for more than 6 months now) so we have a constant cash flow, but that's the way it is with this share in the current market conditions.
Have peaceful festive period from a very stormy north sea.

Bartle -
Not much activity between now until Feb/March, other than putting up the fairy lights.... and looking at the donkey in the nativity play.
Also the matter of 11000 bopd, so just more money in the bank?

Just took 14000 for 5k at 35.5 cyber monday sales.

SoB never really gave spirit for sale a thought, but i supposed it can be thrown into the mix. I did think the other morning about Hurr 's major shareholders but that shouldn't really come into it either. Be back home to BCK this time tomorrow after a week in Cape Town just enjoying a few beers at the V&A in the sunshine. Ps cebo 45% of scots are scotties :•)

I see the seed of self doubt is creeping into a few of the new scribblers here, just chill out and enjoy the ride. I'm with Mover 123 on this one" Critically I think if the news was not good we would have heard by now. For me its a question of whether the news is "good" or "outstanding"

Albi -- If you think that foto looks like the TO you need to go to spec savers , chill out all will be revealed in good time.

LGraham my guess is the one under the heading JSE broker ratings below JSE share price?

Genghis, But many of us have waited those few years already.- I'm one of those aswell - Daltry I tip my hat to you for your longevity - SoB - You winna be playing golf even Buckie is frozen up just noo ! We managed 12 holes before the showers of hail stopped us and we retired for a few pints of RedT.

FFS AK, ur sounding like this is ur private rant, we know ur experienced in making holes in the ground, (and you take great pleasure in correcting people) same as i'm experienced as sitting on the hole someone made 40 years ago and emptying it. But give it a rest and what will b will b even if we've got to wait a few years for the end game, if ur not prepared to wait a few years then this isn't for u. Mean while go and play poker or drive trucks and i'll play golf , but please STFU

COdey: no one gives a %@#* how much anyone else makes.

TR-1 will probably be after the bell if there is one today.
imho

FFS, Street chill out:
Read Longwait & Lady Sonias comment then let them sink in,
its just wait and see, we're nearly at the vinegar strokes part of the drill. Then that's the drilling done for the year, its just the boring part for the next few months of producing and collecting the money.

On his first visit to TL.

The only reason that I can think, this is still in the 40's is that investor's still don't believe that they can sustain production from FB but as the Dr told workers on the TL the others have been producing from FB with great success.
This has always been long term hold for me at least until the early 2020's.
Keep the faith