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Just looked for refresher on the Enquest Producer:
https://www.enquest.com/fileadmin/content/statements_reports_presentations_and_general_PDFs/Enquest/ICOP/Alma_GaliaICOP2017.pdf
Caught napping!
Another Kraken cargo is en-route to Skagen aboard shuttle Sindre Knutsen.
https://www.marinetraffic.com/en/ais/details/ships/shipid:7146586/mmsi:257960000/imo:9905928/vessel:SINDRE_KNUTSEN
Earlier than expected this time, probably due to longer production period while the previous offload was interrupted for several days, possibly down to bad weather at the time. The FPSO capacity is 600k Bbls and usual shuttle cargo c. 500k.
Next Kraken offload booked:
https://www.marinetraffic.com/en/ais/details/ships/shipid:373146/mmsi:311027700/imo:9438858/vessel:AMUNDSEN_SPIRIT
ETA 2024-03-08 00:01
More acreage awarded to Enquest around the Kraken Cluster
https://www.arcgis.com/apps/webappviewer/index.html?id=c3ddac7b06ba4bf5a28634e6067d0876
Courtesy of:
laserdisc13 Jan '24 - 09:03 - 1775 of 1776
Steel INGRID KNUTSEN arrives KRAKEN Monday evg
https://www.marinetraffic.com/en/ais/details/ships/shipid:201329/mmsi:235103057/imo:9649225/vessel:INGRID_KNUTSEN
Next offload booked:
https://www.marinetraffic.com/en/ais/details/ships/shipid:373141/mmsi:311027500/imo:9438860/vessel:NANSEN_SPIRIT
ETA: 2023-11-25 17:00
Courtesy of laserdisc on advfn:
Next cargo offload booked.
ETA: 2023-11-04 12:00
https://www.marinetraffic.com/en/ais/details/ships/shipid:6255947/mmsi:257003000/imo:9843912/vessel:TIDE_SPIRIT
Don't recall hearing about this previously. Presumably Richard Hall is working out his notice. Still listed as current senior management on the company website:
https://www.thenationalnews.com/business/energy/2023/09/27/uaes-dana-gas-appoints-former-enquest-executive-as-ceo/
https://www.energyvoice.com/oilandgas/middle-east/537125/dana-gas-names-enquest-exec-as-new-ceo/
https://www.enquest.com/about-us/our-senior-managers
Thanks to laserdisc on advfn:
https://www.marinetraffic.com/en/ais/details/ships/shipid:373146/mmsi:311027700/imo:9438858/vessel:AMUNDSEN_SPIRIT
Next Kraken cargo booked, ETA: 2023-09-17 08:00:
https://www.marinetraffic.com/en/ais/details/ships/shipid:6255947/mmsi:257003000/imo:9843912/vessel:TIDE_SPIRIT
Next Kraken offload booked. ETA: 2023-08-26 18:00
https://www.marinetraffic.com/en/ais/details/ships/shipid:6502557/mmsi:257671000/imo:9863560/vessel:ALTERA_WIND
Shuttle tanker en route, ETA 2023-08-03 17:00
https://www.marinetraffic.com/en/ais/details/ships/shipid:6375195/mmsi:257630000/imo:9863558/vessel:ALTERA_WAVE
Note 1 – Statement of Significant Accounting Policies (continued)
(p) Revenue
In terms of the agreement with the off-take partner of the consolidated entity, for each shipment of gold concentrate, a provisional invoice representing 90% of the sales value of that shipment (net of smelting and refining costs), is issued when the shipment is made. The sales value is determined by reference to the wet metric tonnage of the shipment, the quoted gold and silver prices in effect for the period of two full weeks prior to the date of the shipment and the moisture content and gold and silver grades of the gold concentrate in that shipment, as determined by an independent firm of assayers, as well as the terms of the off-take agreement.
On reaching its destination, the material in the shipment is subjected to a final assay by a firm of independent assayers, who additionally test for the presence of impurities. Based on the results produced by that final assay and the quoted gold and silver prices in effect during the period of one full month following the date of making the shipment, a final invoice is produced in respect of that shipment, with the off-take partner paying the difference between the sales value (net of smelting and refining costs) of that final invoice and the amount paid in respect of the provisional invoice.
Revenue in respect of sales of gold concentrate is recognised in profit or loss based on the final invoices for those sales, with an estimate of final sales value being made in the case of shipments made prior to the end of a reporting period in respect of which the final invoice has not been issued before the date of reporting. The gross sales value is recognised as revenue and the costs
of smelting and refining as well as any penalties for impurities are recognised as part of smelting, refining, transport, marketing and assay costs.
Revenue generated from gold concentrate produced during the process of commissioning is accounted for as revenue in profit or loss. Interest revenue is recognised on a proportional basis taking into account the interest rates
applicable to the financial assets.
As I understand it, Scotgold gets paid for the concentrate which includes everything in it, both gold and silver. So talk of giving the silver away is rubbish imho, but don't let that spoil your desire to do the company down at every opportunity.
The review is to inform the mine plan for the next 12 months, not "will take 12 months"
An improvement, though not out of the woods yet.
INGRID KNUTSEN Shuttle Tanker booked for next cargo lift. Currently anchored off McDuff.
https://www.orkneyharbours.com/info/shipping
https://www.vesselfinder.com/vessels/details/9649225
1 £40k late reported trade showing:
https://www.londonstockexchange.com/stock/SGZ/scotgold-resources-limited/trade-recap
VERI Energy name changed to Enquest CCS Limited:
https://find-and-update.company-information.service.gov.uk/company/14289469
Into higher grades now. Sorry to hear Phil Day is homesick.