If you would like to ask our webinar guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
That will be 33.52 and 32.52
Note we are currently 6+% down for the day. Yesterday's close is shown as 33.32, was it not 32.32? That being case, only 3% odd down. Please correct me if I'm wrong.
WW - "I hope HUR pick a good time to update the market with EPS data before everyone winds down for the festive break. It wouldn't surprise me if instead they wait until w/c 23rd though just when it'll have the least impact."
The thought on timing of EPS update this month, in away gave some slight concern as to impact when I read the RNS. Your post I assume is linked to the Dec 16 RNS re a blinding drill on Lincoln which was "lost" given the time of year (Not many on here will recall that though). Surely to Christ they cannot **** up another RNS this month. If HUR PR, or really Dr T, decides to release this close to the festive period then I'm afraid our concerns are likely to come to fruition.
Good or bad, a bit of both. A well constructed RNS. Start with the negatives and finish with the positives. Clearly tagging on the Lancaster update is just a way of softening the blow of the P & A. The first time HUR have used these tactics.
Albi1 - Thanks for reference, but clearly unsure if the quote is a drilling or production reference to being well ahead of schedule. Both would be good and an extremely positive RNS would be great in either respect.
Northclubbie - Yes, the Devilsworkbook quote is correct with information held on the Transocean website which most are already aware of. It's just that the timing of the apparent application detailed in my previous post is, let's say, "ahead of schedule". Mind you it's only 2 1/2 months until the start of contract and maybe Petrofac are ensuring all it's submissions are done well in advance. Probably my mind working overtime but applying 3 1/2 months prior to commencing seems.......
Following on from ADUK's comments on demob, was just wondering if anyone has seen any reference to AHTS charters as I can't see any.
Whilst looking at some "ship watching" websites, which I rarely now look at, I found myself looking at another old foe being UK Energy Portal it.portal.beis.gov.uk and noted that on 25/10/19, Petrofac submitted an application for consent to install a Mobile Installation on Lincoln, namely PBLJ with start date shown as 01/12/19. Now PBLJ is currently in a Norwegian shipyard so 1/12 (today) clearly out of the question. Anyone any knowledge/thoughts on this application? An early submission for next year or possibility that next years drilling being brought forward slightly. Either way, Petrofac seem to be pretty quick off the mark.
Hit post too early! "NPT is absorbed as downtime by the contractor e.g. WOW. Probably likely reason why PBLJ will be on lower day rate from March given the likelihood of WOW at that time of year and "summer" drilling season WOS does not start until April.
SOTB - Thanks for the input. Was just considering that this could be an option. I believe there are contracts where NPT is absorbed as downtime by the contractor.
Slipanchor - Can't see anything for charter of AHTS for Transocean Leader (TL) You? Low availability or high day rates maybe. As TL has no contract until next year and likely layup until then, maybe HUR/Spirit can take advantage. Better for TL to be working for something than paying dues, wages etc. with no dayrate.
Some - Going by some tit bits on here vertical complete and cased. Now on horizontal which will not be cased.
“The horizontals are 'barefoot'. No casing.”
ADUK - Why spoil my sarcasm. Before anyone says it, know it is the lowest form of wit or maybe it’s the highest form of intelligence. Christ I’m being sarcastic again.
SOTB - Aye nae bad.
“Make it three weeks with casings.“
??. Which section are we casing? Horizontal one?
Don’t get carried away with he header but strange that HUR have not yet issued one re rig hire for next year despite, I think them telling us that they were to inform us soon on last presentation. Possibly this will form part of a wider RNS which will include some new information. A reason for the uplift in share price?
thestreet - dropping something down the hole is not exactly what would be considered an RNS worthy event. More of an operational **** up which can/was resolved most likely at a cost in terms of downtime to someone other than Hurricane/Spirit.
ADUK - Think your right. On 12 1/4 “ section but not yet on 8 1/4” . Possibly too early for completion tubing but 9 5/8” casing possibly on spot hire vessel. May also be back up BHA for 8 1/4” given likelihood of 2 or 3 bit changes or if f they drop the BHA.......again. Spot hire may also be carrying brine which they hopefully need! Pretty much guess work really.
Re RedOctober. From memory this is not the first time he/she has “predicted” something of relevance but can’t remember specifics. Maybe worth listening. As for another FPSO........did someone not mention that before and get, let’s say, chastised for suggesting such a ludicrous thing. Strange that no such debate.......so far.
MrT - Thank you. Now any chance you can contact the City and explain typo in quoted SP in that it should read 248.22 and not 48.22. Thanks in advance.
Beat me to it Cebo. Headline in article correct, published paragraph wrong and misleading. Anyone have time to put them straight given potential negative impact?
Another successful drill underneath the belt. Well done all involved. Maximum flow under ESP 9,800 STB. Although not mentioned specifically in the RNS, I reckon that maximum means restricted due to surface equipment akin Lancaster 6 which had the same figure of 9,800 STB under ESP which is was restricted. That being the case, in all likelihood 10k BOPD easily has potential to be 15k+ BOPD. Expect half yearly results to be a bit more specific. SP may now finish today slightly blue having seen many times in the past what the vultures do to our investments on good news. Hopefully I’m wrong this time.
SOTB - You are correct that they can flare around the clock. However the point was they will only open the well for the first time in daylight hours.