Member Info for romaron

And FCA approval is time dependent upon whom? I'd guess it is the FCA and there is little advantage in EnQuest falling out or pressurising them. Bureaucracy and the wheels of justice turn slowly, but grind exceedingly fine. Covid and WFH don't help either. Can we now please give the board a break?

Latest price forecasts released: https://mcdan.com/forecast/data/downloads/20211001/G211001.pdf

Another fine mess you've got me into, Juan!

An apology.

I ridicule the conspi******s and anti-vaxxers for being so gullible and I fell for it too. I posted this link on 24 September: https://www.youtube.com/watch?v=pIRICfZOvpY which I picked up in September from the JOG message board and as it kinda agreed with me accepted it at face value. It is full of half-truths and outright lies. Even Piers Corbyn being in it didn't get me checking. My only (weak) defence is that I assumed that Channel 4 had higher standards. I didn't check the volcano CO2 levels and they are dramatically incorrect in the film. Science doesn't change that much. We are still using Archimedes and Newton formulas today and I assumed the film makers had applied the right amount of diligence. They didn't and may well have ulterior (and financial) motives. Channel 4 should have applied the highest editorial standards; they didn't.
Obviously there are some truths in the film but I am not a scientist. My stance on climate change has always been sceptical but that is more from the point that fossil fuels improved mankinds lot and lifted many from poverty thyrough providing CHEAP energy. Renewables will cost trillions of dollars more. Fossil fuels will be around for decades yet.

What caused this correction. By chance I mentioned it to my daughter who will be at COP26. She sent me this link:

https://www.newscientist.com/article/dn14379-why-climate-swindle-film-is-dangerous-despite-ruling/

It goes to show that misinformation doesn't die easily and is persistent.

Great find hitman. Very resourceful.

I meant results in the reactions he gets. He still gets invited onto panels and he even had a one to one with your mate Zak Mir.
I actually pinpointed the time where he nailed it with the cheapest green energy - Norway.

He may well be a clown. I don't follow him as closely as you do.

I'm not in Orcadian either but I must say Steve Brown's outspokenness (clumsiness) gets results; whether they're good for Ordcadian or not worries me not a whit. As for climate change denial there are plenty of others but not a good thing to publicly broadcast especially if you are running a fossil fuel company. There is a build up of resistance that stems basically from the COST which seldom comes into the debate it seems. I think we'll see more of this at the Conservative Conference and Steve Baker and his ERG backers have a lot of influence.

I'm doing a Stanley (innit lovely without him) and sitting on the fence with climate change. If you're a rich Westener then possible to back. An impoverished African, Indian or Chinese labourer or mother doesn't often have that luxury. EV's in Africa? When? In fact when will electricity be universal. I stayed in Beirut in 2016 and saw rolling blackouts. Didn't affect me when I was in the hotel or a restaurant.

Even Norway has pressure on its grid!

I don't know the actual dates or enough about physical delivery but always surprised how the front end can jump when it should effectively be in some kind of balance. Maybe it's when contango happens technicals make it readjust or is it kneejerk day traders? Whatever, it does seem that 80+ is on its way.

I'm not trying to point score here KO. In the second link it does say "However, there are technical constraints such as distance from the shore and potential stresses on Norway’s grid with so many competing projects." and MrC mentioned 40-50MW so perhaps he has some knowledge to add. His comment about Steve Brown is unimportant. SB was working for BP in 1993 so I doubt he is ignorant whilst an anonymous day-trader casts judgement. It wasn't so much what SB said but his rearguard defence of Orcadian highlighting OGA (and by extension ESG) requirements. There is also an EnQuest connection as we once had a drill-or-drop license for the Pilot field. SB does appear a much travelled oiler but that isn't my concern.

What it also says to me is that as wind gets closer to fossil economics then the O&G industry will look at the emissions benefits. I see much here to add value to EnQuest and the Norwegian connections are strong. Equinor aren't the gamblers that small oil companies are but they have always been well run and at the forefront of technology changes.

What's this then? https://www.equinor.com/en/what-we-do/floating-wind.html

Providing power for Snorre and Gullfaks in the North Sea

more: https://www.offshore-mag.com/regional-reports/north-sea-europe/article/14195647/floating-wind-turbines-to-power-north-sea-gullfaks-snorre-platforms

Squif - your timing is about as good as mine. You do know what will happen?

They'll be like buses and we'll get 2 or 3 together. I sense a lot going on in the background. Interesting RNS in Harbour (HBR) today. When announced the details of their bond will be of interest to us.

I'm finding Twitter a good source of more up to date industry news/developments and it led me to this. Steve Brown of Orcadian Energy is a plain speaking guy and is putting enormous effort into getting the company going. His struggles actually illuminate the headwinds facing all NS producers to an extent. There is a video which is too long for most but should be viewed: https://www.youtube.com/watch?v=POF6vOv6lQ8 but to save your day listen afrom 1:19:50 for about 30 seconds.
Wind is electricity before it is converted and we sometimes miss the point. Norway has some of the world's best supply of green energy and we forget much is hydroelectric. I googled and you can transmit electricity to about 300 miles (483 km). Now, I'm sure it's much more complicated and I may be wrong but you could stretch a cable from Norway to Bentley/Kraken that is less than that distance. Neptune are using 'green electricity' at the Gjøa field and that is 100km from the mainland of Norway. Failing that how far are we from the aircraft carrier SVT?
It doesn't end there. Floating wind turbines are also working and Hywind Scotland https://www.equinor.com/en/what-we-do/floating-wind.html remains the UK's best performing offshore windfarm. They are probably the most expensive of the 3 options but very exciting imo. The fact that Equinor own part of Bressay cannot do us any harm and they could even be a farm in partner for Bentley?

*Liv Monica Stubholt's (NED 15 February 2021) contacts and experience as Norway's Deputy Minister of Foreign Affairs, followed by two years as Deputy Minister of Petroleum and Energy can't do us any harm either.

Still building the future. Exciting potential at the concept and design phase of Bently/Bressay. They will come.

I immediately think "cry baby" or "tell tale" and we should all be robust enough to accept negative views on stocks we hold but the premise of his arguments was infantile and just plain wrong. Hopefully he won't return. I think moderators get a 'Report Post' and take it down without really looking at it. Your points were true and accurate onedb.

monkey - you do know they're not part of the Wetherspoon chain?

Afraid I can't help you but it dun'arf look posh. Depends I suppose on where you need to be whilst visiting the fleshpots of the capital.

Ludicrous. KO - get help.

Ask Stanley KO - he's the expert in his own little world. Think about it? How would I know the intricacies of a major oil deal or have insight into Suncor; and for the record I'm not a corporate lawyer.

Sadly many aren't part of it. KO writes about health being more important but he cares little for the health of those having to listen to his continual whining whilst his pal Stanley thinks that GE is just "a paper asset" and merely changing hands - like swapsy in the playground and thinks with his background as an international corporate lawyer that it is taking far too long.

I suggest that WFH because of Covid had something to do with it and producing assets require a lot mor diligence and hoops than "paper assets". An example is our purchase of Bressay and Bentley. They were much simpler and quicker as they're not in production. You only have to look at Cairn and their sale of Catcher and Kraken to Waldorf. They announced it in March with closure expected late Q2. That went well obviously as it's still hasn't completed as far as I can read. The deal also has an effective date of 1st January 2021 so similar to ours.

I doubt any parties involved enjoy delays and I may have said this before. Behind me a plot of land was bought by the CEO of a company that builds luxury flats. He explained there would be noise and disruption and said it would be "finished by Christmas" this was in 2019. It was for him and his family to live in. It was finished by Christmas but it was Christmas 2020. Now this is a guy in the industry with every incentive to move out of rented accomodation. He is successful and knows what he's talking about. Life is untidy and can get complicated. We don't know what causes the hold-ups so have to trust the management of EnQuest. In fact we're not really in breach of deadlines or any trouble judging by the IR response posted here. This is what you have to consider every time you buy shares.

Build it and they will come. It isn't immediate.

False alarm - found this from a year ago:

https://www.enquest.com/fileadmin/content/Bond_docs/bond_docs/High_Yield_Bond_Interest_Announcement_-_October_2020.pdf

Looks like the dividend is decided and/or the PIK from 15 April to 15 October but the PIK calculation is end March - September so that is probably why the price moved today. it says "The Record Date for determining the entitlement of individual Noteholders to Additional Notes will be the close of business on 1 October 2020."

Whatever the finer detail I'd say it's "technical" and I probably read too much into it. End of quarter window dressing doesn't help either.

I didn't expect the HYN to fix down 164 points today. 97.067 from 98.7105
A quick check and the RB doesn't appear to be affected so a good sign. I wondered firstly if it was a dividend payment and accrued interest was involved and after some effort found the dividend dates. They are different to the RB and are 15 April and 15 October.
I found the latest prospectus (Euroclear) and on p.30 came across this regarding "Tranfer and Exchange"

"Notwithstanding the foregoing, the Company is not required to register the transfer of any Definitive Registered Notes:
1. for a period of 15 calendar days prior to any date fixed for the redemption of the Notes;
2. for a period of 15 calendar days immediately prior to the date fixed for selection of Notes to be redeemed in part;
3. for a period of 15 calendar days prior to the record date with respect to any interest payment date; or
4. which the holder of the Notes has tendered (and not withdrawn) for repurchase in connection with a Change of Control Offer or an Asset Sale Offer."

EnQuest have an alacrity to get their money's worth out of their lawyers and as we've still got plates spinning and balls in the air might they have sorted out the bonds? The 15 days is too convenient and I'm not a great fan of coincidences. I wouldn't expect all holders to roll over the debt so there would be dissenters and sellers.

Having said all that it is the end of a quarter and somebody may have just taken their profit.

E - it may have been Eric Nuttall. He came up with some remarkable statistics on oil sands in a recent video.

Hi E - there was something at the back of my mind about Canada. Maybe I've got it wrong with HMH too. However, Oil sands are a contrarian bet as is coal. I suspect that even if the traditional lenders exit the field there are plenty waiting to take their place if the returns are high enough. The whole world is changing at an ever increasing pace and you could produce an argument as to why investors are still wedded to traditional forms of credit lending and maybe the dinosaurs are amongst the 76 on that list? I suspect that supporters of fossil fuels haven't gone away from the profits it's more a fear of controversy and finding people glued to your front door that is the consideration.

So far, in my experience, profits and cash flows win.