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Hi All,
Yeah great news. Looks very promising.
You’re of course correct Bryn but everything he’s asked is probably correct.....
30% chance of striking oil? That seems the figure which is used by BPC
10% commercial? That I have no idea.....
Results Feb? More than likely.
Hi Linton, why do you think it’s Prozac? Merry xmas
Harry I thought you sold all your shares a few weeks ago??.....
Like I said in your last post the crew are on anywhere between £200 to over £1000 a day. They normally get double or even triple rate for working Xmas day. Donate to your local food bank. Thanks but no thanks.
I think as long as the Icemax starts to drill then the price should move...obviously if a judge in the coming days decidesthat the case has some merit then we’re f***ked for another month or 2 until it’s sorted. Nothing is straight forward haha
But still the SP flounders like a fish out of water.....hopefully it’ll start moving when the Icemax moves in to location.
It’s a no brainer for the funding company. They either make 15% off their investment through cashback from BPC or if they strike oil they sell up and make a lot more. Pretty safe investment for them really.....
You do realise how much they earn per day yes? Anywhere from £200 upto over £1000. Plus they might get double or triple rate for working Xmas day. Thanks but no thanks
Agree Gringopete,
We all knew it was going to happen (hoped it wasn't). At least now when it gets thrown out, the SP can now concentrate on whats in front of it rather than speculation about court action.
I'm pleased that this application for a Judicial review has finally appeared. We can now stop speculating and hopefully an answer before the drill. By the 15th we will know if it's been thrown out or if the Judge thinks it's got some merit.
I’ve worked on 2 jobs in my career where outside sources tried to stop a project. 1 was in Ireland and GreenPeace tried stopping us laying a gas line. The 2nd time was when the USA stopped us from laying a gas line for Gazprom. They basically told us anyone working for the Russians will have US assets frozen. My point is both times both companies never said a word to ShareHolders until everything was confirmed and they had a plan.
I doubt Stena would allow the Icemax to sit and wait for P#2. For starters who is paying for the crew, fuel etc? Also she might have annual maintenance which can be done instead (not sure of Freeport’s facilities). Also I would be very surprised if they can’t pick up some spot work in the GOM. You never ever see companies allowing assets to just sit and wait. They will ever be out for tender or be looking at using the gap in the schedule for maintenance. Just my opinion
Wotitsworth slight correction. An FPSO doesn’t run from Hurricanes they’re secured to the Seabed using Anchor chains. You could in theory release the anchor lines and using explosives disconnect the production lines from the turret....but that is worst case scenario and not something any OM would be responsible for
I would think they are waiting on if this injunction is going to court or not..... Doesn't matter if it’s got no legs it’s still another hurdle to jump.
Cringe worthy! Hopefully he’s learnt from it.......
Ice max why would a major oil company take a 30% chance of finding an oil field?? I’ve said it before I’ve worked the last 20 years in the offshore O&G. Construction, survey, Drilling. Believe it or not a lot of the majors have on their books probably 100plus “potential” oil fields. This last 10 years has been an incredibly difficult time for the industry “investing into new site has not been a priority. Just my take on it....
Good luck
Total rubbish DavidBrent, I’ve worked offshore all this year. Each trip we quarantine for 3-7 days all depended on who the client was. I know of 2 companies who like you are suggesting , did not quarantine and went all gun hoe! First project didn’t even get past the project meeting as they had 6 positive results but had already started mixing the crew. The 2nd project they got the guys to “self quarantine” but then use commercial flights to get them to Norway resulting in Covid ripping through the ship to the point where if the vessel had lost 1 more crew member on the bridge then they would have had to go to port and wait it out. As for social distancing on a ship.....you’ve obviously never worked offshore as that is impossible to implement.
Harry I understand that, but a lot of posters are assuming just because the report is ready "mid November" then that automatically means it will be released....which we both know doesn't mean that.
Goodluck
Got to agree with Icemax sadly.... When BPC hit 5.8p last time the world was looking a lot better. Brent was still around $60 and everyone still thought Covid would be over in a couple of months, fast forward 9 months.... Brent is creeping up towards $50, but industry everywhere is still looking ropey.... so maybe 3.5p-4.5p when we start to drill.... Why would it go much higher?
Goodluck