Member Info for StanleyUK

Hi Yobbo,
From an article earlier this year:

“ The JV is,
therefore, seeking a field determination at Lincoln to progress towards field
development incorporating a single well tie back to the Aoka Mizu of either the
Lincoln Crestal well or an alternative shallower producer.

Based on
existing consents, the Lincoln Crestal well is planned to be plugged and
abandoned later this year. The suspension consent, which sets the deadline for
this activity, has been extended from 22 June 2020 to 30 September 2020 due to
the ongoing COVID-19 pandemic.

This extension
also allows Hurricane to gather additional long-term pressure data, expected to
provide further insight into the dynamic behaviour of the Lincoln reservoir.

The Transocean Paul B. Loyd Jr. semi-submersible rig, which is still under contract with Hurricane, is currently stationed in the Cromarty Firth and is expected to carry out this activity, but it is noteworthy that the JV is looking into alternative rig options.”

ADUK,
We both made an initial assessment regarding the application for Lincoln to presume this was for P&A. I believe this to still be true, however not a guaranteed outcome.
Please confirm I understand the sequence of events correctly:
8th June: Lincoln application for Well Intervention.
8th June: Trice “resigns”.
16th June: Edison report (I’m presuming compiled with direct input from HUR) suggests P&A not necessarily required if Field Determination from OAG is positive.

So uncovering the application moves us no further forward in our investigations. P&A possible, but OAG can still save the day.

To quote Edison: “ A response from the OGA for approval of field determination over the Lincoln structural closure is expected by the end of June 2020. If approved, and subject to further consents, it may not be necessary to P&A Lincoln Crestal, which could then be tied-back as a producer to the Aoka Mizu.”

So it’s still a waiting game, right?

This looks like a P&A then, and not the tie-back we were hoping for.
Unless I’m interpreting it wrong. Hopefully someone can see this as a positive application....?

"The min bid would be the highest sp over last 90 days."
Absolutely, BB2. There must be reason this has been held down (notwithstanding leaks regarding a total operational disaster).

I'm not saying this is the case, but holding this down to facility a cheap T/O offer wouldn't be beyond the realms of possibility.

Kerogen are not sitting on a loss. They almost have free carry after selling down part of their holding last year.
A better question could maybe: would they be looking to take the whole company?
Dr Parsley has been added to the boord for a reason, and with his Geo background would be privy analyse every piece of sensitive data.

Maverick, there will be no general update at tomorrow’s AGM, and no Q&A.
The notice indicated no business update, and that questions should be submitted by email, for response by email.

I guess it’s possible there could be an operational update via RNS, but nothing presented by the board at the AGM. It’s nothing more than a formal process that must be done, to vote on resolutions and keep the board at the feeding trough for another year.

A performance update will surely be due soon, but don’t expect the AGM to be that day. Only 2 shareholders are permitted to attend to fulfil the required regulations.

Guys, there’s a lot of talk about price movement pre/post AGM.
The AGM notice stated that there will be no questions, and no business update. It looks like nothing more than a formality that has to be done. Voting on resolutions only, with shareholders voting by proxy.
Any questions are to be submitted by email, or response by email.

I could have read it incorrectly, but there will be nothing material coming out of the AGM, and nothing to help move the price north.

A positive RNS, however....