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yeah, wish it was us, eh??!
gla
ffc; agree with your pro CF sentiments but the reality is that between the bod and uk government SM fell into a tar-pit trap partly of their own making - there were opportunities to 'take the hit' earlier which were ignored for the best of reasons, SM is unlucky with global timing, largely of course, Trump-driven risk-offishness. Now the company awaits a benevolent funder (unlikely), an acquirer (most likely scenario) or becoming defunct (very unlikely given the monstrous potential profitability medium and long-term). Interesting times.
GLA
just as well most ecb rates are near-zero, modsto, or most of the western world would be broke.......zirp is life-support.
And what happens when the only things left are ETF's - what will they 'track' - other ETF's.....??
Just wondering which will happen first for SM; Gina onsite or 10:1 and dilution. And yes, I'm not a deramper and do still have some shares in sxx.
gla
Littlened: "The investment community is in a 'no risk' mode and AIM shares in particular are off the table.It could change rapidly." - imo you're spot-on there; when the blonde pussy-grabber over the pond gets bored - or deselected, whichever comes first - the outlook will almost instantly flip to upside, risk-on. It will only take the single tweet, and that tweet will come in the next thirteen months.
GLA
Hi Dalts, apologies, the 'brine' quip relates to drilling 'mud' - brine-based seem to work better in 'ard rocks like basement (i.e. don't clog the fracs, so for brine = mud. Shame they can't use Thunderbird 3; that never seemed to have any problems with drilling mud......
gla
Daltry: 'any brine losses....?'
gla
belated thanks Londoner7, doh, i forgot the ballast! yes, NO does seem to be drawing 11.4m.
No '?', Slip?
GLA
apologies for overlap, Pisces.
SLip; one suspects the Marine Traffic draft value may be wrong - if correct, it only changed by 1.9m over the entire load, which would only be a puddle and not, one suspects, take circa 20hrs? (Similalrly, the NO's status didn't change from 'under-way' to 'moored' for many hours (overnight sometime?) even though she was clearly at least roped to the AM from midday onwards). Not sure i'd trust the MT data, is what i'm thinking......
GLA
and is still status 'moored' at the AM's behind; >25 hours total - what did someone think the previous offload rates have been? (There's an old AM spec sheet mentions 5000m3/hr, it would be a near-capacity load if they've been pumping near that rate for 20 hrs? Am wondering if they brimmed the AM and are on a shut-in now. Hopefully Amaja will reveal all; eat dirt, AS!
GLA
GLA
foxpoo
Great guy!! Genius!!! We meet for covefe and eat fox**** most mornings.
Much loved by Kurds, Turks and Chinese alike, his sole goal is to keep gas < $4/gallon so's to keep his redneck isolationist white supremacist followers happy with their 7 hp 8-litre gas-guzzling V8's.
Still, hows NO doing?! Looks like she's been there since about 08:00 and just 'swinging' with the wind around the AM since. I guess Pisces21, you must be 'nearby' if you've seen the O's transfer - thanks for posting. Wonder what they were doing between 8 and 11:30, having a hearty breakfast, maybe? (Hope it wasn't a 'rope' morning.....!)
Gla!
Thanks Daltry. My simple logic works thus: trump out = global recovery. Simples. Only a year to go, then we're rid of the mysoginistic simpleton lunatic *anker.
gla
Cebo; re well flow-rates and 'guidance': Given the 'rapid connectivity' observed between 6 and 7z, although single-well flow whilst pressure-measuring t'other obviously provides further validation of connection, wouldn't the useful test be, as you mention, shutting-in of both wells to assess the pressure recovery of the system? [Despite the 'good connectivity', there has been a recovery difference between the 2 wells: - 4-5 psi after ~28 hrs for 6, ~ -10psi after ~26 hrs for 7z.]. I guess what they want to do is gather further datapoints along that recovery curve to see if/where it's getting asymptotic, and that may take quite a few days (of no-flow). So as a noily simpleton, i'd guess they'll be opening the chokes to flow at -80 psi-ish for many days, then off for several days. And loads of other stuff i'm clueless about, but those are the datapoints I'd be most interested in seeing if i wanted to validate the reservoir volume and pressure engine. Thoughts?
GLA
Biffa; the subsea tank aspect of Solan had me wondering, too: If solan is only maximally going to output 10kbopd - 2 months storage in the subsea - then adding some hur capacity would only be a good thing, surely? They already have the tech and gear for the uplift, so it's p&p for HUR......makes economic sense (to me) in the short/medium term. The economcs of floor storage vs fpso's sound like they might be interesting, esp WoS.
GLA
Cebo, apologies, i didn't make the query clear: "Any thoughts..." means 'who'?
(I don't think it was MakinHay).
regards
gla
Hecate: am i the only one wondering wtf 'Baba o Reilly' has to do with BloJo entering the stage at the tory party conference??
Cebo: I don't do L2 either, but see a pattern in the sp during the sell-offs: quite big 'hits' in rapid sucession in the first 2 hours of trading, sometimes followed by smaller steps of a retrieve same-day, but sometimes spread over several days. It's been happpening during the low-40's to upper 30's drop, but also, if i recall correctly, happened at 47p earlier this year. I rarely get a chance to look at the trades (got a job, sort-of; so much for 'retirement', lol) and would'nt have time for L2 analysis right now, but repeating patterns like these indicate a/several player(s) with big pockets doing the shifting. ANy thoughts on this?
Unfortunately, my wife will not permit the her £45k sxx proceeds to go into an oiler, otherwise i'd get some more..... oooh-er.
gla
LS; sympathies for the sxx position; as Sipp commented, let's hope you recover somewhat with HUR. Unfortunately I only sold half my sxx holdings when the MTS fox-up was dropped, so am also taking a paper haircut atm. I then chose my time carefully and bought more hur with the proceeds, at 39pps, so have done brilliantly from that. Oh, no, hang on a mo.....
It'll come good, sxx may go 100% to Gina. The sxx ceo needs to re-look at his bod, and consider their competencies and track-record, imho.
Yes, it makes HUR's handling of their similar-size fundraise look wonderful in comparison - even the warrants!
GLA
what really matters are the PI value deltas (sorry, changes) after v, 2v, 3v etc volume of oil has been removed from the reservoir(s). Small change = big reservoir = investment case. Yeah, it is simple really; the noise in the meantime is just that - noise.
gla
Chris Fraser has a bl00dy cheek, tbh: If he had managed his bod properly - particularly the eng director wrt the MTS 70+% overspend (vs previous cost prediction), the ST2 fundraise may well have gotten away first-time of asking............
Now the co'y is distressed and at the mercy of the vultures - a bird not known for it's bravery or kindness. Yep, yet another good 'ole British corporate frock-up aided and abetted (in a negative way) by an incompetent dysfunctional government (standard UK fare, the latter).