Member Info for Surfit

Hi BlooBird okay thank you for the info.
Rgds Sft

Interesting article in that the it states that the rig countd is down further and goes onto say that is the lowest since march 2017. Down 206 this year.
But production is at an all time high?
Has the USA improved the drilling effeciency that much, I thought shale fields depended on more consistant drilling to maintain field production.
1. Could we be looking at peak production
2. Is this further indication that production numbers getting manipulated to introduce price volitility?
3. Add Trumps tweets on trade negotiations and his ability to influence.
The Oil men in the USA are making fortunes and have more control over the economics of oil and countries than can be remembered. With no /limited military intervention now required.

https://www.google.co.uk/amp/s/oilprice.com/Energy/Crude-Oil/99-Oil-Rigs-Gone-And-Counting-Rig-Count-Falls-Again.amp.html
Rgds Sft

Also how can there be several sells of a single share? These are indicated as a automated sell? So is it the last % of a bought block?
Anyone?

Rookie, all we can sumise is in order of probability:
1. Nigoil has hacked his account
2. Wants above to re-re-mortgage the house then tell him sorry the info was for HUR
3. Has been got at by the 12 (+1) Monkeys
4. Has heard the word and now belives in the resurrection
Kind rgs Sft

If I may Godders99, we were all positive but certain events and actions by the BoD may have erroded that spring lamb feeling.
And the screaming indicator to all doubts are those "clever" actions of said BoD and the current reflective share price. Any one that can keep shouting otherwise could be considered as quite dangerous.
Hope there is remaining hope but its not the same that I came in at in 2016.
Its sitting in a dark room, with loud music on (so you cant hear the baliffs) with you fingers crossed listening to the lottery results on Saturday (Friday was a wash out).
:-)
Rgds Sft

Hey Much, my take would be the market has not liked the sale of the egyptian assets. After spending money on a drilling campaign the 13 monkeys sell the only income stream.
We now have a constant and continual cash drain from the 13mky, a very limited extension to the licence, there is no assurance that RKH can pay (or have to, I just dont know) the % project rise, OM is possibley factored in at 35mil add the 40mil left plus there is egypt...but my bet is the numptys will have it tied up in shares or egyptian pounds.
True as usual we are hoping that PMO will save RKH...and that is a possibility...but if I was TD...I would string it out until june 2020 and negotiate with the FI direct.
Rgds Sft

Thank you for the post Ovets. I think even Malcys come to realise that the BoD have blown it.
My guess is that the damage was done inbthe contract they signed up to with PMO and not seeing (as none of us did) the PoO collapse.
PMO have had them over a barrel (for give the pun) ever since.
That and their subsequent investments: good ideas but dire applications.
Malcy for being such a fan of RKH has never got an interview with Moody either...
GLA, we need it.
Rgds Sft

Hope your right Much. I averaged down a bit further...but not enough for these levels.
None the less I still belive in the realistic and great oppertunity that the sea lion is.....i as I have posted over the last year really despise the RKH BoD...damn industry is full of them.
GLA

That's it had enough have had to filter 3,699 and 2,271. They started off as normal and now just plague BB's, especially this one.
I keeping popping on looking/hoping for any potential info and have to read those two.
600 odd posts in 30 days between them. Beyond weird.
Rgds sft

Correction to my comment regarding drilling Using Semi in FI
1. They drilled all year round. Weather did not affect ops significantley
2. Initially used the either the Ascension islands as crew change route in. London to Asc 8hrs 1hrs stop over aprox 8hrs on to Stanley
3. Flying in was also done via Chile
Rgds Sft

Hello All,
If Argos have had their licence extended until May 2021 this would indicate that they have presented a suitable justification for such. Remember to consider the available working weather window for down there. So really they could (stress... could) only have 2020.
Can anyone remember /know what time of year and for how long RKH drilling campaign lasted?
From the RKH site: ......In addition, there is a further 200 mmbbls (gross) of low risk, near field exploration potential which could be included in either the Phase 1 or Phase 2 developments. Phase 3 will entail the development of the Isobel/Elaine fan complex in the south of PL004, subject to further appraisal drilling.
The above may indicate that there WAS plans to conduct appraisal drilling BUT for RKH (which they can now NOT afford).
The priority would be (IMO, NO experience in drilling Exploration, Appraisal or Development drilling) though to get on with the development drilling , remembering the consideration for limited weather windows and factoring any rig potential breakdown /issues in such a remote location. Argos would be low down on the priority list ( my opinion only).
BUT as above if ARGOS have as reported been granted an extension and all the other considerations such as farm in partners, would /could it play into the equation?
All have put good points BUT time and money will figure VERY high on PMO's agenda.
Rgds Sft

More from / about Diamond:
https://www.offshoreenergytoday.com/diamond-offshore-sinks-deeper-into-the-red/?utm_source=offshoreenergytoday&utm_medium=email&utm_campaign=newsletter_2019-10-29

The last part I find a bit interesting: " As of October 1, 2019, the company’s total contracted backlog was $1.8 billion, including over $540 million of backlog secured year to date and excluding approximately a $130 million margin commitment from one of the company’s customers."
Rgrds Sft

Carrot, I agree but the reality of that happening is zero. Unless there is a large share holder willing to pull the trigger. Which you have of course already said you do not believe can happen. There is no chance of galvanizing / organizing a large amount of small share holders in to a group with sufficient percentage to enact such. Nor (IMO) can it be done from this BB (too small a readership or ability to organise). IT may gather some support for the next agm, if we do not lose site of the fact what he/ they have squandered, and If every small share holder voted against on their voting form.
The above options are the only realistic way IMO.
To try and pull the whole board in one go would be suicide. The Captain of the ship is fully responsible for the crew.
Rgds Sft

Hello Biffadog,
Fully agree with your assessment and content.
An accurate appraisal of the situation.
I would be interested to know your opinion of the BoD and if you think Sam Mood is the right person to keep steering the ship.
Mine is: I want him removed, even if RKH survive this and we get what we need.
Rgds Sft

I voted against his continued governance on my voting form prior to the last AGM. I ask others to do so. I respect his vision on the initial find BUT it is time for him to stand aside. My opinion is based purely on what I have seen from the points I have raised below.
I do not believe he is capable of bringing the company forward safely (future development of Isobel/Elaine) after and IF this Sea Lion project is sanctioned and ultimately developed by PMO.
My "opinion" is only based on past and present performance again: Contract with PMO, purchase in Egypt and Italy and management of finances. I think the record is the clear proof.
BUT onto more positive note: We wait for PMO's sale of Zama and the UKEF results.
It is interesting as another posted stated that the Argie's are having a dig again about offshore development in the Islands. Electioneering or more bully boy tactics.
This development must go ahead to help protect the Islanders (Military budget) and also a good and "relatively" safe (Not Middle east/ Not Pakistan / Not Africa source of oil for the UK.
GLA
Rgds Sft

Carrot, initially removal of Sam Moody. The strategy (Egypt/ OM) I would regard as worse than poor as an investment decisions, sign off on the contract, especially with no penalty clause or sufficient protection with PMO and the management of finances sit firmly on his shoulders.
Rgrds Sft

Oh and added a tiny £1k the other day left a limit on at 18.10 and got it for 18.09 drip feeding in still. My holdings keep advancing this way..still not sure how smart this is, but I would sell if I knew it was going to fail...BUT I think it may not.
GLA
Rgrds Sft

Nigoil, yes your quite correct; Carrot has gone on a posting rampage of "no plan" put downs on the board (As you know I am no fan of the 12 monkeys but I want large shareholder support).
Ralph, well I kinda get Ralphs (frustrations, I think he is time served so has earned the right), he at least just fire a single shot now and again...Like shooting at them damn squirrels.
No comment on the other 2
Then we have new joiners who just cut and paste one comment? not sure who/what that is about..bit strange though.
BUT its a free BB so each to their own I guess, would be good though to talk RKH /PMO negative OR positive with supported information on their opinions, rather than a farther Ted approach (That included the positive Nig).
It is approaching the event horizon that for sure...hope fully its a worm hole to the future and not oblivion.
GLA
Kind regards Sft

Neilus please stop posting the same message.
Kind rgds Sft

Hi GP, The UK will continue to need oil for quite some time, even if we start talking about the EV revolution +2030.
We could be like other countries and depend on the market supply BUT that does carry some risk.
We have been producing gas this the mid late 60's and oil in the 70's. It has added some security, extremely valuable tax revenue, provides excellent employment and aids developing engineering knowledge and skills.
What continues to happen with our own producing assets are that the stock (oil reserves) continues to get depleted. There remains good development ground (blocks) West of Shetland.
The Falklands Island are under our protection and it costs A LOT to provide that continued "cover" ...my thoughts are that considering all of the above there is room for significant consideration that that the government may look favorably at continuing with what has worked in the past....true big oil has generally fronted up the money but the 12 monkey's choose a vulnerable (financially) company called PMO.
So yes it a bit unusual BUT after the FI trade delegation visit, PMO's continue progress in (Slowly) moving it forward, Middle east turmoil, US shale oil now starting to suffer potential fiance investment dry up, the PoO looking to remain around $60 which is a reasonable bet ($45 is our break even I believe) it not to far out.
As to the Extinction rebellion , Thomas cook and Sirius Minerals there not even close for consideration as to the potential financial reward (see above) and secure source of oil (see above again) that play a big factor in keeping the country going.
Just my thought of course.
Kind regards Sft