Member Info for Surfit

Oppps here is the link to the artical
https://www.offshore-energy.biz/harbour-energy-finds-marginal-hydrocarbon-accumulations-in-north-sea-well/?utm_source=offshoreenergytoday&utm_medium=email&utm_campaign=newsletter_2021-12-31

Rgds Sft

Decent artical in "Offshore Energy" by Melisa Cavcic: Carrys some good information.
What I note are the comments at the end re-reporting about exiting from Sea Lion. What she or others though have not come out and discussed is the resultant 37% (SL allocated % of group 2C reserves) reduction on their group reserves, combined with this most recent drill result (another change of reserves) AND delay from Tolmount...
What has to be realised is to replace such noticible losses will cost....irrespective of the significant sums paid out on the 3 assets locations already!
I do not think, not necessarily that fairly: most is inherited from PMO, when combined with the continued share issues AND the last minute stunt of share "realignment"....they could do with some good news....can't belive I am saying that with PoO (Brent) being +75! And Gas being at an all time high!????
Is it just OnG is not the investment sector anymore????
Let's see what today (0.5) brings.
GLA
Rgds Sft

Not my words Paul, direct from the oracle that is Malky back in 2017. Must be true (-:
Just can't wait, already booked my world cruise of a life time in 2023, based on the expected profits AND as an extra treat; its going to the Falklands as part of the itinerary.
I will ensure I go to the bridge and get the skipper to sound seven short blasts followed by one long blast on the ships tannoy as we cruise past the construction vessels working Sea Lion and I am drinking champagne.
All I can say is I am glad I got in when I did, every one will be kicking themselves that they did not
Remember DYOR
Rgds Sft (-;

Note: nothing said on this post can be taken as financial advice all though the actors are real some parts have been embellished for the readers pleasure.
Share as well as going up to fantastic, life changing profits may also (read that as dead cert) go down.

When it does go, it will fly. Take off is Imminent, just waiting on conformation of OM pay award, size of that award, when it gets paid into the account....and a few signatures about the SL project, FID, Sanction ,contractors, FPSO build and some drilling
Then its a multi bagger, "its going to be like making fifties from fivers"
Remember all IMO, DYOR and GLA
Rgds Sft (-:

Hey Rookie, one final post:
Thought I had better check the history of Tolmount and who found it and would take responsibility for the reserves /reservoir estimates and it actually looks as if that too could fall to Dana
See this from 2017
https://www.offshore-technology.com/projects/tolmount-prospect-north-sea/
So if HBR have a decent partnership agreement there could be some intresting communications going on between HBR and Dana????
:-)
Very best Sft

To me it's still a mess and I would expect EIG to have been accumulating. But that does not look to be the case....remember they are bound to hold their existing 36% (largest stake holder) until March 22.
My hope was that they would want to maintain the majority to enable clear control and if the 18% PMO creditors and 32% EiG investors got together (or EIG investors bought from the 18%ers they could lose that control.?????????
But I agree with the sentiments of most (after no fear left with out saying good bye) it's becoming a very frustrating share.
Buying Dana out from Tolmount maybe a good move, depending on the loss of production liabilities but again that could be offset against PMOs potential error on reserves estimates.
The significant reduction on reserves (after ditching Sealion which made up a significant part of futures) will also be a factor for institutional investors specialising in OnG.
Just my uneducated opinions ONLY.
Best regards Sft

Hey Rookie,
I sent another email to HBR investor relations asking about RNS's regarding change of % share ownership.
I had been told by them previously" "....We do not share the names of shareholders beyond those who have publically disclosed their positions above 3% via a TR-1 notification (which are available on our website)"
PMO and other companies have issued RNS on such changes, so I specifically asked if they do on 3% changes or is it just the TR-1 that the companies are alleged to do so.
I went to the RNS HBR notifications and the last one was 16th Nov 21.....so it does look as if the RNS's are getting issued on changes???
So I guess it's maybe worth whole trawling back and at least it will give us and indicator of who is buying /selling?
Ps the other stuff was my tongue in cheek on China/covid conspiracy that it's a prep for a required world depopulation.
All the best Sft

I disagree 100% it's the last thing he wants: Its Nicola and Mark Drakeford that want to enforce your Orwellian musings.
If you want to go really off topic: It came from Wuhan China, they have just changed their child policy, testing new delivery for World population "adjustments" variants being hand delivered to different countries. Pretty sure Tom Cruise as definitely gone rogue this time and the L. Ron Hubbard was a Chinese National.
Happy 2022 (-;
Rgds Sft

Rookie the question on liabilities could be interesting in that depending on contracts its has been known that partners have to pay other partners losses.
I belive HBR (50%) are the field operators and Dana (50% ownership) and Kellas Midstream responsible for delivery of platform and pipeline.
Now it all depends on the contract and the faults...for example revision of reserves might also come into it but there could be some liability.....might be the ideal time for Dana to sell their share 50% at a revised cost seeings they MAY have some liability???? Pure musing and speculations ONLY.
Read artical attached for confirmation of ownership and responsibility.
https://www.energyvoice.com/oilandgas/north-sea/exploration-production/338167/blow-for-harbour-energy-as-tolmount-project-hit-by-delay/

Rgds Sft
PS Just can not belive the start on this share price. I was expecting a high start BUT it also to still grow back towards 400p. Just can not see what is going on AND no RNS starting a change in % share ownership with all the previous movement/trades? Very weird, maybe it's due to different class of shares but would have thought the ownership rules still apply even for creditor??.??#$@!!?????

Should be an interesting kick off tomorrow.....
Rgds Sft

Just for interest:
https://www.countrysideonline.co.uk/back-british-farming/back-british-farming-our-latest-activity/what-does-british-food-self-sufficiency-mean/
Rgds Sft

Havila Shipping announced on Monday that a new contract was signed with Harbour Energy for the PSV Havila Commander. The new contract is for a firm period of four wells with one well option. The company confirmed that the contract is scheduled to start in January 2022.

https://www.offshore-energy.biz/harbour-energy-hires-havila-vessel-for-ops-offshore-uk/?utm_source=offshoreenergytoday&utm_medium=email&utm_campaign=newsletter_2021-12-28

Rgds Sft

We could do with some real progress reporting on Tolmount Mrs Cook.
This is a good artical for those that want the most current assessment (that I can find) and history of the latest PMO cluster that HBR have to sort out.
https://www.upstreamonline.com/field-development/-source-of-frustration-harbour-energy-fixing-tolmount-electrical-faults-as-start-up-nears/2-1-1120127

Makes you think, with Solan, Zama (Mexican bandits), Sealion (100s of millions squandered), 88E ($23 million farm out failed drill) and now this outsourcing with Tolmount just what a few "issues" PMO had been building!
Let's hope HBR can get this producing BEFORE the summer.
Rgds Sft

I would expect and hope to see some more significant investment in / after Q1 2022 once the paper work has been finalised and signed:
"Finalisation of definitive documentation expected in Q1 2022 with completion subject to satisfaction of certain conditions including regulatory approval"
https://www.lse.co.uk/rns/RKH/sea-lion-update-2a1ha9h17nvqwx2.html

Until then newer private investors might be in and out taking 10%+ profits, leaving some in on each trade?
Let's hope we get some arbitration news on OM before the above, that would also ensure some leave more shares in having been some assurance on RKH finances.
GLA
Rgds Sft

Well the Brazillians keep pushing ahead on commissioning FPSO's for their field:
"SBM Offshore revealed on Friday that it has secured a $620 million bridge loan facility for the financing of the construction of the FPSO Alexandre de Gusmão, which will be the fourth definitive system to be installed in the Mero field, located in the Santos Basin offshore Brazil, approximately 160 kilometres from Arraial do Cabo, Rio de Janeiro state........"
https://www.offshore-energy.biz/sbm-offshore-unveils-620-million-loan-for-mero-fpso/?utm_source=offshoreenergytoday&utm_medium=email&utm_campaign=newsletter_2021-12-21

Must help with any business modeling, finance comparison and project revenue raise.
AND
KEEPS SBM Offshore's workers in jobs, in practice and hopefully ready for one in the Falklands.

Good news on arbitration (latest RNS). The fat lady has not entered the building yet, but she MAY be considering leaving her house for a small performance.
GLA
Rgds Sft

No Fear seems to be very quiet, wonder if he sold?
SK very quiet too wonder if he bought in or it?
GLA it's all about the OMI/PoO
Rgds Sft

And ps Harry if you could turn the "all seeing eye" onto who owns what.....now THAT would be helpful (-:
Kind Rgds Sft

Hey Shal1000,
Just for clarity and repeat conformation the share allocation at merger went:
xxxxxxxxxxxxxxxxxxxxxxx
EIG 36%
Former EIG Investor's 34%
Chryasor legacy investor's 7%
PMO creditors 18%
Us lot 5%
xxxxxxxxxxxxxxxxxxxxxxxx
This was as detailed in the issued pdf doc from HBR March 21
I contacted HBR financial a couple of weeks back asking about who owns what shares and ALL I got back was EIG are locked in until March 22.
So from the above who owns what still is anyone's guess (APART FROM EIG).
As we know SOME of the PMO creditors were offered cash or shares, shares being locked in on two different tier systems.
I am still trying to find out who owns what % of HBR OTHER THAN the known EIG 36%.
All the best Sft

Hahahahaa I agree Covgaz: Tree's been shaking since 2012. Man I have no idea who is actually trading this share but if they can actually make a profit I salute you what with the outrageous spread, the tax and the 2012 trend they have one heck of a clever algo?
Welcome to the Hotel California folks.
GLA
Rgds Sft

Possible buy of £1 million recorded at 16:29.
Let see how high they will take it this time?
GLA
Rgds Sft