Member Info for senseman

Monday morning 'hole in the head' we neither need nor deserve. As Laser & youlez intimate, not enough yet in public domain. In lay terms basic issues are how much protective underwriting exists in place from Prax parent to Prax distressed, ie. how much is Prax parent affected. Also will this affect the Prax Total deal - if it hasn't already. Unprintable words come to mind.

Brent up $10 on middle east tension. Prax will be watching. Will they play canny and bank a part offload at $75ish before end June? Or hang fire for a full offload hoping for a bigger rise? Stick or twist?

Prax Total deal so far giving us nowt.

Jockbob - any chance of fleshing out a bit?

If as seems increasingly likely the US Senate and House force Trump to impose draconian oil sanctions against Russia to force it to ceasefire and genuine negotiation, ie: 500% tariffs on any country buying Russian oil, China & India will cease buying 4 mill barrels a day of Russian (approx 60% of Russia daily production), and have to buy elsewhere. Though OPC have increased production by 1.5 mill barrels a day over last 3 months, that is not 4 million. Brent must rise, may even soar - which will help us. Problem as ever is moron Trump - as soon as Putin makes a fake promise, the moron will sign an illegal executive order and lift the draconians. What a state the world is in when it's influenced so much by 2 pieces of excrement. The only comfort is both will be flushed down the toilet soon - but oh the grief and misery till then. And will the world learn from the experience?

Laser - and thanks as always for update

Feb 6220, March 6160, April 6060. Every month we stay above 6000 is Well P6 miracle, given projections we would hit 6000 a year ago. Dollar down to 1.35 = £1 on back of Trump reigniting China tariff war - hurting us. Brent stable $64-$65. Hope we have part offload before end June (Prax worried Trump may tank $ more?), otherwise Sept/Oct DCU tiny.

As ever, we need Prax purported deal due 2025 Q1 to start PDQ. Anyone any update?

Sound thinking Corry. Likely spot on. Likely all twiddly minutia re day rate and %. Why don't the pigs write plain English? Ye Gods, the morons who run companies 'cos their bent since age 15 was money and screwing others 'cos they lacked the creative or courage bent to do owt else! My pet monkey Cedric could do a better job!. And cheaper - he only needs a bunch of bananas a day and a lady monkey once a month!

Writer should return to school to learn words aren't intended to construct chocolate teapots.

Confusion, yes. Big picture positive is production high, no 6 months notice give. Negative is Brent 63, FOREX £1 = $1.34, Prax deal non-start & silence. Significant risk of continuing Trump madness crashing Brent & FOREX against DCUs. Oct DCU tiny whatever happens. 12.5p starting to look remote unless Prax Laggan kicks in pronto. Dive (or anyone) - was it quoted 2025 H1 or Q1? - I thought was Q1 but may be wrong. Also, anyone any Prax/Laggan news?

Ned - and the link to find it?

Mmmmm.....so still no news re firm date deal actually starts and DCUs start benefitting from Laggan purchase? Can anyone offer any update? Q1 2025 slipped by, now 1st May appears to have. Sept/Oct DCU gonna be mightily hit unless Laggan contributes pronto, as well at 12.5p DCU total looking unlikely

Laser - good news, only slight drop from Feb's 6220 figure. And Brent was 65 ish on 25 April offload day compared to today's 61. Any news re Laggan commencement? Does your job advert post affect us in any way?

Thanks fellas. Dive - I erroneously thought they converted into sterling after each offload. Question - if scenario is dollar weakening, why don't they do this? I can understand delaying if dollar strengthening as timing currency conversion right can be lucrative.

Thanks fellas. Dive - I erroneously thought they converted into sterling after each offload. Question - if scenario is dollar weakening, why don't they do this? I can understand delaying if dollar strengthening as timing currency conversion right can be lucrative.

Thanks Laser. if so we'll have circa 350k Feb offload + circa 350k this one = circa 700k barrels banked? And just over 2 months till end of June DCU 6 monthly billing period, ie: time enough for 3rd offload if they keep opting for part-offloads? Do you think this can be interpreted as Prax being alert to (i) possibility of oil price crash hence banking oil more frequently as protective mechanism even if offload costs increase slightly? (ii) ditto re forex currently hammering dollar, today $1.33 = £1 whereas month ago $1.29 = £1?

Laser - interesting. Last para of Strategic Report for anyone reading. Question - if Brent crashes, might that also delay Bluewater's new deal with company it's moving Aoka Mizu to? Hence maybe encouraging them to hang in with P6 a bit longer just to retain some cashflow?

Attaboy Laser. keep at it. we're in dangerous Trump oil price waters unless and until Laggan kicks in

Ex HUR shareholders have to date received circa 2.5p per DCU x 2 billion shares = £50 million via 17.5% of oil sales revenue. I don't know Prax's profit from it's 82.5% less costs share, nor do I know the cost of buying the Laggan field from Total. .But one may be sure the former was more than enough to buy the latter. So now essentially Prax have gotten HUR + Laggan for nothing. Plus future profit from both. The pertinent question is - what would HUR share price have been today if HUR had not been 'sold' and the then BoD had spent some or all of the 2021 cash pile (from which our initial 6p was paid) buying a producing asset similar to Laggan? Guesstimates on a postcard please..

No. We get 17.5% oil sales revenue. Essentially, the 6p we got upfront was paid using the cash HUR had in the bank, ie: we were paid with our own money and Prax were given HUR for free. Prax have been on a free profit ride of 82.5% of oil sales revenue less production & other costs ever since

Thanks Dive - helpful, locked into my braincell.