Member Info for Slift

I'll start you off with the most obvious one!
The current 2025 bond - $800m secured in 2018.

Go do your own research about the other debts.

Jubileey,

Why do you always bring me into this?

I am not for or against Les.
But just so you know, the hedges would have been Les' responsibility as the CFO.
I don't think Les is responsible whatsoever for the position Tullow is in. He has secured Tullow with good debt over the years and likely will continue doing so.
The reason for Tullow where it is currently is because of production and operational issues (including ridiculous production forecasting). The former COO and CEO were sacked, rightfully so.
Since you're clueless as ever i'll tell you - it's the oil production (including accurate production forecasting) and operational successes that keep liquidity and finances in check.

"Our hedges don't offset the sell of Uganda, at 1.45 billions (for our entire stake) -400 millions for taxes -575$ millions (compare to our sell price), is a 500$ million difference."
No, it's more like $100-200m (if you're looking at selling the entire stake). Do the maths again, there's one key element you're missing.

Although Tullow would have earned c. $1.5-2b profits (before tax) over the life of the field at $60/barrel had they kept and developed their 10% stake (which they would have held in the 2017 deal).

Oh and ofcourse, not accounting for lincoln.

Lincoln will add approx. 4m barrels to reserves if tied back, IMO.

CPR will likely take into account the production portfolio of the new sidetrack well as well as the water injection.
So it will have a reserves increase based on the water injection, but how much?

Assuming AM is operational until end of contract period (2025), that leaves approx. 3.75 years.
At 11k bopd for 2021, and a marginal increase in 2022 of about 2k following water injection (13k bopd) and an average of 15k bopd for 2023 and 2024..

2P reserves will be rerated to about 18-19m barrels.

PlantedBHA,

You haven't gone "mental, drinking too much cheap imitation home made foul Gin.", have you??

No, you reinterpret!

"so that you can say that “I told you so”"
Yes, to Dickbat only.

I don't want HUR to fail at all, and it won't fail (most likely).
I don't know anything that everyone here does not, it'll be 50/50 on update.
But it sure WON'T be "14p+" or "£2.50+" or "30p+" if the funding is positive for shareholders.

https://www.bluewater.com/wp-content/uploads/2013/03/Aoka-Mizu.pdf

What? Well 6 can produce 100% water and it'll be okay!
Without a water injector and with enough wells to produce maximum production capacity, limit would be 57%.

Wow!
All these daily posters and I get a special mention :D

"Anyway, I am also invested in bpc. The philosophical outlook there is that, if there is oil, we have a multi bagger. If not, it’s trash."
I agree! What's the success rate of perserverence #1 again?
Was it 23-35% for potentially c. 750m barrels resources?

Good luck to you in the coming weeks, both here and at BPC.

If Hurricane secures debt via banks (RCF maybe?), big jump here as it gives confidence for future CAPEX and costs without the risk of dilution to shareholders.

At the moment for Harvest, the stone is set in place. Just need the growth.

buckles,
100%, duh!
The AM has no limitations for oi/water flow rates from 1 well. It's under utilised.
Only limitation would be gas rates (if no gas export). Gas rates will increase as BHP decreases towards bubble point.

Fluid capacity: 35k
Crude capacity: 30k
Water production capacity: 55k
Gas capacity: 35MMscfd (Although this is limited by flaring limit of c. 14MMscfd I think and up to 2-3 MMscfd used for fuel/power generation - so total of 17 MMscfd)

Two things required to be able to secure debt:
1. Future Cashflow generation
2. High value assets

Both of which HUR are lacking:
Cashflow because increasing watercut and reducing production
Assets because only 7m reserves and decreasing from production.

Ask yourself these two questions:
- Will the bank lend you money for a mortgage if your income is determined to be lower than that required for said mortgage by their standards?
- Will the bank lend you £500k to buy a house that's valued at £400k (but put up for sale for £500k)?

Are you related to mgja786?

By the way, wallstreetbets reddit are majority US based on robinhood app.
If you aren't aware, robinhood app only allows trades of companies on the US markets.

It's in the BOD's interest to look after the interests of the following (in order of most to least):
- Salary
- Bondholders (Debt service)
- Major Shareholders
- Personal investors
- mgja786

Prove me wrong.

and yes, I suspect that dilution will wipe most personal investors. But it depends on the percentage dilution.
The rise in oil price will likely reduce dilution though, but cannot be avoided, IMO.

Shareholders, what shareholders.

mjga786,
Wht don't you go COMPLAIN TO YOUR LOCAL MP about your own investment decisions?!

When the financing agreement update is announced, 50/50 here for shareholders.

Dilution is certainly on the cards. The question is, how much?

Why isn't Harvest Minerals up 25% today quisad?
Seems illogical to me.

Great!
Update imminent now that they have latest free cash figure.

Good luck to all shareholders.

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