Member Info for thelearner

Then surely this has to change. As Sea Lion is developed, there will be a fully manned FSPO plus a drilling rig working on Sea lIon alone. This means no more exploration. I have searched and currently find no more concrete exploration plans? Does anyone have any more info on any proposed exploration?

This is Premier's Environmental Impact Statement - I'd expect this to be pretty accurate. http://www.premier-oil.com/sites/default/files/files/sea-lion-environmental-impact-statement.pdf Page 35 gives an overview of Phase 1 - lot's of drilling to be done - with hook up of wells via subsea manifolds. States drilling will be started 21 months after project sanction, so the letter of intent for a rig is being done well in advance. Project sanction expected bu end of this year. First oil is expected 42 months after project sanction - so 2022 I would guess. Oil is waxy also so could be problematic. Pag 37 shows a graphic of proposed development. In my opinion that's a lot to achieve for $1.5 billion. Looks like a long haul for Rockhopper shares, unless any more exploration is planned. However PMO have brought UK Catcher in early and under budget - so can be done. Also have very good Zama discovery off Mexico.

Hard to find details of the development plan, (any links) but the drilling rig will be separate to the FSPO, and will probably drill some wells in advance of the FSPO arrival. This page gives an excel download of the Diamond Fleet (not huge) and PMO will hire the most cost effective rig for the work, deepwater DP rigs have much higher day rates. www.diamondoffshore.com/Documents/Rig%20Report/DORigStatus.xlsx I have been invested in PMO/FOGL/Rockhopper for a while, and am possibly at break even, and just sitting tight now hoping that in time I can turn a small profit. I have searched and read several things this morning, with costings from Sea lIon for $35 to $45 per bbl, but Phase 2 costs should be less. Hard to say if the South Basin will throw up anything large in terms of discoveries. Deepwater exploration is expensive, and there are possibly other basins with established logistics and support bases which are more attractive to the majors. Have worked in the Oil Industry a long time, mainly North Sea, and taking early retirement shortly when I have will more time to do a bit of trading.

good!

I managed to buy �3K just now - had to place a fill order but it went through in minutes with Hargreaves Lansdowne - price was 1.99p

Have been watching this thread with interest since investing in Condor early last year after having seen Jim Mellon tip them on a video clip. I am a complelty amatuer investorwho has mainly been investing in funds, but have gradually been increasing my position in Condor, and it's now easily my major investment, so hoping the permits can be approved. I bought some more yesterday, use Hargreaves Lansdowne, but my buy shows in their trades a Sell - very strange. Anyway - will keep watching with interest - I imagine there are many like me who watch, but decided to register and say hello.