Member Info for Slift

"unusual RNS"?

What? Did you sleep when they deferred the drilling in 2019?

Now they are deferring again because there is no more rigs left for 2021 for North Sea activity in the summer.

But keep believing lmao.

Lmao, keep it up y11-shx. It's hilarious.

"the green future associated in the industry"
Do some more research and you'll know Harvest is the green future in the industry.

But hey, you worry about your investment in HUR first.

Ouch.

Nothing new from BODs.

"Slift, you’re not even good at maths I see"
Ofcourse not. That's why I used PlantedBHA's maths!

Good to see you're wasting more of your "precious time" on me. :D

MarcelKrell,

As I said on the Tullow board, I do not see much growth potential in Tullow following the sale of equatorial assets. I'd still be in Tullow if they had kept EQ and farmed down exploration assets instead.. but sadly didn't happen.
I will potentially invest in Tullow again should they strike oil in Suriname, but i'm not going to bet on that just yet.

As for Tullow's exploration assets, I expect majority to be farmed down heavily - further reducing growth potential.

"We probably see TLW fly now soon, and ECO in a about year... :p"
I'm not too concerned about Tullow flying a few pennies from here.
We'll see at the Results in 9 days whether Tullow flies.

Good luck to you over there.

"Oh no it’s not, $63.54 and falling, can’t see the share price holding with Brent falling."

Yes, let me do some PlantedBHA calcs for you.
-$1.1/barrel in Brent price = MINUS $550k per lifting!

Ouch.

@Elementary,
HMI is 3% of my portfolio and I bought HMI @ 2.3p. It is simply a punt for me.
Your time is a "lot more precious" yet you're here replying and stalkig me. Nice! :D

"Brent Now Up circa 1% Today"

Are you sure???

Brent down 2%, wtf you on about?

Bopd, you silly!

Lower USD to BRL ratio means lower OPEX costs duhh!

"so expect the same boring post to follow about not rushing in to buy yet for the twentieth time"

Lol, there is huge potential here, even if it's having to wait for it.

I think people are forgetting that ECO HAVE oil.
Jethro and Joe both account for approx. 45mmboe RECOVERABLE (subject to oil price) resources net to ECO.

At current oil price, sure maybe only 20-30% (at a guess) of it is economically recoverable (and therefore not economically viable), but let's not forget that ECO does have this oil. This is currently not on the balance sheet and makes ECO look very attractive for those who do know.

All it takes for the majority of this heavy oil to be economically viable is more oil finds (preferably light).

At current share prices, i'm willing to hold a portion of my portfolio here even if it's for 11+ months.

Sale of UK/Diesel ban is in 2030.

But like you say, there wouldn't be a ban from motorists running their car.

But diesel...?

Unless you have a truck like PlantedBHA, what's so good about a diesel anyway? Diesel should have been banned following the VW scandal imo.

Diesel? Time for an upgrade? :D

Lol, rumour in Aberdeen?

To whoever was addressing me, I'd tell you a rumour from the Midlands, but instead I'd tell you a fact from HUR RNS:

"It should be noted that there is a risk of dilution to existing shareholders from a possible restructuring and/or partial equitisation of the convertible bonds. Furthermore, if no agreement can be reached with the Company's stakeholders on additional investment, further development activity at Lancaster might not be possible. In such a scenario, Lancaster could continue to produce from existing wells before reaching the economic limit, the timing of which would depend on oil prices, actual production levels delivered and the level of cost savings achievable. The field may then be decommissioned, with potentially limited or no value returned to shareholders."

notaflipper,

Regarding dilution, quite hard to say.
In November 2020, the dilution would have been up to 80% IMO.

However, oil prices have improved and HUR's cashflow has improved slightly.
Dilution is still on the cards, and following the next lifting, i'd say dilution is at approx. 50% of shares in circulation, imo.

The recoverable amounts are gonna be pennies by the end of this year anyways with how much HMI will have grown by then!

Oh right yes.. forgot to mention.

*500b barrels of water in Lancaster
*300b barrels of water in Lincoln

Roof still on?

Well DavHaz, "positivity" doesn't make SP go up.

But yes, let's be positive, there's 500b barrels in Lancaster@!@!
and another 300b more in Lincoln!@!

Woop woop!

"HUR was at the bottom after they said it could be worth nothing."

"Bottom"?
I see this company as overvalued at current share price if FWP doesn't add 15m+ reserves AND if funding isn't secured.

The current SP reflects the "hope". But in reality, there's going to be a dilution and only those who fund the FWP will benefit from HURs assets. But who knows! HUR might give PI's a chance to fund part of it too!

P.S. The only "bottom" here is Dickbat. Hahaha

Sold my TLW holding and invested here today.

I expect Guyana drill to be Q1/2022, with a 2nd well to follow later in that year.
Also expect Tullow to farm down Orinduik block and swap operatorship in return for drill carrys later in the year.

Nothing to worry about here!
ReconAfrica provided an update regarding Namibia drill today, nothing significant, but drill ongoing.

Millions of Gallons, Barrels, Swimming Pools of it I heard.

No rumour, all fact!