AK; haven't been looking at the lseHur so much recently, as there seems to be a lot of trader chaff here now. Saw your comment ref someone with a rockhopper agenda; imo those fields may never be developed unless a proper working relationship with Argentine is reached - and with poo quite probably remaining $60 +/- 15/bbl for the forseeable due to medium-term oversupply, i don't see the business-case being favourable for a site equivalent (whether-wise) to WoS. all imo. Let's hope Hur have a good programme revision arising from the agm today.
Agree 100% with your 08:47 post sentiments, Bartlebobton. (5min lookup would reveal Dr T's shareholding stake in the co'y, but from memory I don't think it is significant). The remainder of the bod are trivial holders. The agm would do well to refuse the recommendendations of the bod remuneration pack, paying them solely in shares, imo. Might 'focus the mind' a bit.
Colonel Drake: UDUK has previously commented on 'interference', and it should be remembered that the 'perched water' mechanisms (bucket, inverted bucket) are in-play: this latter may well (sorry) have significant implications due to the differing vapour pressures of reservoir oil vs local perched water: it's no surprise there is some 'instability' in 7z flow, and it's also no surprise that, if pressure connectivity is 'excellent', that mass-flow connectivity also exists; i.e. it's not unreasonable to expect 6 to see some of 7z's water in addition to that of it's own 'perches' Think of the upside-down glass full of water then inverted and lifted out the sink (used to teach the kids with this)....eventually the vaccuum is not supported. The vapour pressures of oil differ somewhat, especially as the fluid density reduces, e.g. 38 api (6/7z) vs 'heavy' vs condensate vs LincolnC (42?api). Also, don't forget the viscosity of the two fluids is wildly different..... but, wtfdik!
GLA, even you bartlebobton, but i think Goldenbadger has a more contructive comment: Dr Trice has one more shot; they'd better not screw it up. I'm amazed a 'hostile' hasn't come in yet.
AK; I think you've got it in one there - and to be fair, Hur have been hinting at an issue that needed 'further understanding' re the instability/pressure cross-talk 'issue'; the discussion re re-entering 7z and moving the productive zone away from its heel was clue to that. I'll guess this is what they'll do, as it involves less capex. The small but increasing water-cut of 6 has been intriguing me, also, and i wonder if there's a relationship here. imo you analogy of instability caused by the perched water drawdown is likely to be spot-on - a roof-perch or combo basin-roof system would certainly have a dramatic effect in this way. For sure Hur now has it's work schedule defined - either 7z or (8) need sorting while poo is in the sh*t, so the timing may even be slightly fortuitous - except for the sp, obs.
Ahh; just read your 12:04 follow-up: - agree entirely, esp comment re relativel small rates of water from 7z's perch possibly reaching 6.
AK; i don't think i'll be selling Hur just now to buy BP or RDS, given the just-commenced round of divi-slashing in super-majors. BP must be feeling the squeeze on their well-considered recent $10bn US shale investment........
RE: Positive results on Gilead Remdesivir29 Apr 2020 15:28
an interesting counterslant on this, oilbeback, is that only last week another efficacy study (in China, if recalling correctly) pronounced Remdesivir as ineffectual ('no beneficial outcome', or similar, i believe the wording was) on Covid-19. Intrigued to see the detail of this latest update. thx for posting.
Thanks Wessex, much appreciated. (Do i gather from AK's last post he was unimpressedwith the vc?!)
Don't see much to be despondent about if one is a (Hur) oil investor; Cv19 will probably be resolved one way or another and nigh-on 8bn people want to eat/improve their lot. Greenworlding will be ******ed slightly by the current financial collapse despite what German industry wants, so the 12/18 month profit loss to Hur is simply displaced down the timeline (bad if you're as old as Daltry, (apparently)). The 7z 'fix' sounds best immediate-term return on capex; am favourably impressed with Hur's current/recent decision-making. (Only thing that ever really ****ed me off was 'the rope'.... the 3 months production loss for which we are now paying!) Market oil supply/demand equilibrium will be restored, just with a buyer's market rather than a sellers. all imo. atb gla
"It's a house of cards." - er, yes, as we are currently seeing.
the '80%'-? just my own rough estimate derived from the pyramid infographic here: https://www.statista.com/chart/11857/the-global-pyramid-of-wealth/ where i've estimated that low-end (e.g. <$20,000) income people in 'wealthy' but expensive countries (e.g. NW Europe, N America) might be iro 10%-ish of that sector. Idoget your point about debt: paid-for by the future....... imustfixmy keyboard. atb
LW; re oil consumption (ergo Hur's ability to survive & prosper: What many seem to forget is that 80+% of the glbal population is poor compared to the 'first-worlders'. Those people can't afford the luxury of semi-voluntary 'lockdown' or social-distancing, they have little or no 'social/state' backup and need to work to live. What may be most interesting is how the r.o.w. reacts to China - and how China's 'government' reacts to the damage C19 has caused (in so many ways).