Member Info for Slift

"Protocol of Intentions Signed with Minas Gerais' Investment Agency - A Protocol of Intentions has been signed by Harvest and the Government of Minas Gerais, through the Institute for Integrated Development of Minas Gerais ('INDI'), an organisation connected to the State Secretariat for Economic Development ('Sede'). The Protocol of Intentions signed by Harvest and INDI will cover areas such as business matchmaking with local suppliers, permitting and licenses, tax planning, and funding options, as it may be required."

If required, cash/funding will be raised via a loan via INDI.

Dunno but how i see unfolding regarding shareholders and finance is dilution.

Paddyboy1,

Sure thing, doesn't matter much to me or you.
Matters to some instituitional holders though.

I suspect this has further to fall unfortunately.
On 22nd March, Petrofac will be excluded from FTSE250 and FTSE350, and included in FTSE SmallCap.

This will have significant impact on percentage of instituitional holders.

Will be interesting the course of action Petrofac takes.

Fancy seeing you here laidback.

Ofcourse you'll be involved in a company that is high risk and volatile...

Hi LeeRex,

I still hover here to see what Jubileey is bickering about every now and then :')

I do not have a holding here anymore, so I do not have anything to comment.
I still stand by my view of Tullow's growth prospects being significantly reduced with the sale of EG assets - which was the main driver for me selling stake.

I will keep a close eye here for the Suriname well and future growth prospects for Tullow. Will certainly look to get back into Tullow should the opportunity arise.

Good luck to you

HY20 Presentation.

I suspect that the real loss is more likely to be $5-10b though.
Surely not ALL awards won by Petrofac in UAE is through ADNOC

UAE is Petrofac's largest prospective customer. From the last presentation, UAE represents 31% of their pipeline of works.

so POTENTIAL loss of $14.25b loss in projects in the pipeline.

Well Wilky,

I'll also add that Hurricane owns 50% of Lincoln and Warwick.
So..
NET 2C resources to HUR following CPR I estimate to be: 140-150mmboe (subject to how much of this is converted to reserves).
NET prospective resources to HUR following CPR I estimate to be: 20-25mmboe

Who agrees and who's deluded?!

From technical review (GROSS):
Lancaster 2C resources (FB and sandstones): 58mmboe
Lincoln 2C resources (FB only, sandstones TBC): 45mmboe
Halifax 2C resources: TBC
Warwich prospective resources: TBC

Since the technical review, several things have happened that WILL influence the 2C resources available:
- Half of Halifax license relinquished due to license terms (expiry)
- Half of Warwick license relinquished due to license terms (expiry)

2017 CPR @ half the license area of Warwick and Halifax:
Halifax: 579mmboe 2C resources
Warwick: 468mmboe prospective resources

Using same figures (90% downgrade) used in technical review and applying that here:
Halifax: 50-60mmboe 2C resources
Warwick: 40-50mmboe prospective resources

At BEST guess of Lincoln sandstone 2C resource: 20mmboe 2C resources.

CPR:
2C resources will increase by c. 60-70mmboe (from Halifax and Lincoln sandstone)
Warwick prospective resource will be 40-50mmboe
Reserves TBC depending on FWP.

WOW DIREEMBLEM!

Losses show the value HUR has lost.
Your post is making it look like it's a good thing... lol

I think 5p max at current trading prospects. Let's see what the CPR says!

Are you in fantasy world?

LOL y11-shx

You're sounding more and more desperate lmao. Can't find anymore faults in HMI so you compare it with other companies share price performance instead?

HMI is about to take off - supported by the £212k trade.

BRL is also recovering.

Patience is well rewarded.

Get a room both of you!

Maybe Dickbat can join you both too!

slipanchor,

Bev is still a non-executive director at HUR.
I suppose she has used her technical performance at HUR (technical review) to also earn a non-exec spot at TXP.

Quite amusing really. She invested like £5k into HUR after tech review and then landed ANOTHER £60k+ non-exec role at TXP.

"Bev: Fresh out of BG, technically and commercially astute, but perhaps lacking in experience of the public markets and the prospective reputational risks that go with the £70k a year for 25 days work..."

Actually, she took a long break on holiday after BG and then was looking for executive roles lol.
Who would even give her that role after a long break from ANY work?

Slipanchor,

But at the same time, the CPR is based on the FWP.
That's why all the "options" they have includes a sidetrack and a water injector.

Any other FWP (i.e. new well, gas injection, etc.) will require another CPR to determine reserves.

Well, the "kitchen sinking event" did not include for sandstones and other licenses.

So ofcourse it will be an improvement to the technical review in that sense.
However, the resources allocated to Lancaster and Lincoln FB won't change.

DA,

"you took note of my statement on “potentially” better than expected CPR here this month post the brutal kitchen sink"

I am 100% certain that the CPR will be WORSE than the previous CPR (2017).