Member Info for Therapist

Hi,

Kraken area survey vessels moving East and still working roughly North South. Who knows what they will find down there? Hopefully not Brent $80: Enquest £0.20. Bjeeesus this is a hard ride.

GLAXXX

Hi Aloj,

Does seem "wide". Previous 2013 survey shows some quite wide sweeps. Taking in the full geology I guess. Page 1 top right corner.

https://www.pgs.com/globalassets/technical-library/tech-lib-pdfs/seg2013_bhuijan_etal_seg2013_towedem.pdf

I got the survey info from FishSafe and now note that there was an earlier description from 18th May of what I assume is the current survey as:

"A 26 Day site survey Bressay, Kraken & Bentley Oil Fields 1st June - 30th September 2021. Using Vessels Ramform Vanguard call sign: C6CG3, Thor Freya call sign: C6BI6."

Co-ordinates are the same bar a repetition, so was a bit more descriptive originally.

Having a sniff.

GLAXXX

Hi,

" . . the Group plans to carry out a 3D seismic campaign in the second half of 2021 to support ongoing evaluation work to identify and prioritise near-field drilling and sub-sea tie-back opportunities within the Pembroke, Antrim and Maureen sands discoveries and prospects in the western area, which holds an estimated 70–130 MMbbls of STOIIP"

Has begun.

"The Ramform Vanguard will be active acquiring marine seismic data in UKCS Block 9/2b and will be assisted by the support vessel, Thor Frigg."

GLAXXX

Hi,

I discovered the EnergyVoice podcasts a while back. This is from end April but a good insight into Bentley/Bressay. April 30th from 23:00 to end for anyone interested.

https://energyvoiceoutloud.podbean.com/

Apologies if this had already surfaced.

GLAXXX

Hi,

Has to happen before October 21 when credit facility due. Announced early Feb 21, JS said normally takes around 6 months. Needs shareholder approval.

GLAXXX

Romaron,

All this talk of EV's I thought I'd share what I am riding at present.

https://www.feber.com/uk/Toys/pro/feber-lovely-unicorn/

I have the adult version which can go just over 3mph, and you get about 30 miles per dump.

It's the way forward . . . but not backwards as there is no reverse.

GLAXXX

Hi,

Yes, yes, yes!!

https://www.dropbox.com/s/aa87h4hy08472rp/Enquest%20Production%20Data%20to%20Mar%2021.pdf?dl=0

With my current predictions I am 49,102 boepd annual. But all set up to accept some GEAD barrels to add to that towards end of year. If maths is good then Magnus due a bad April but I still opt for a modest recovery thereafter.

GLAXXX

Hi,

Magnus up to 14,196 oil. 16,161 with the gas.
All the minnows except Goosander and West Don gone for good or off sick.
Kraken 21,984 boepd

I get 47,166 boepd total with Malaysian estimate

Golden Eagle Area - 12,234 boepd

GLAXXX

Hi,

Not a plant, maybe QAnon?

It's Dorothy Parker . . lead a horse to water . . .

https://quoteinvestigator.com/2015/11/21/horticulture/

"Don't put all your eggs in one bastard" I think she invested in Enquest.

GLAXXX

GKB,

Nothing Freudian there. All horticultural not pubic but full credit for going there. Weeds are plants apparently "not " in the wrong place and my honey won't let me cut the frikkers down.

You can lead a horticulture but can't make her think.

But I'm giving too much away.

GLAXXX

Pelle

Enq portion 13,304.5 BOEPD February (subject to tax and all that sticky stuff) . Think last well still outstanding at that point so won't show in March figures. All Good.

GLAXXX

GKB

Messy hedges. Nice. I've been forced into "No Mow May" and my vast estate is a disaster.

GLAXXX

Hi L3 and Pelle,

Surely the simple stuff can't be that difficult. One frikkin sentence.

"The Group’s policy is to have the ability to hedge oil prices up to a maximum of 75% of the next 12 months’ production on a rolling annual basis, up to 60% in the following 12-month period and 50% in the subsequent 12-month period."

"Next twelve months production". That is from the start point which in this case is January 1st 2021.
"Rolling annual basis". Rolling Annual. So start again at start of next financial year taking account what you may have hedged already for future year in question.
Therefore allowed to hedge 75% of projected production ( possibly hedgeable production in all cases henceforth) in 2021, hedges for 2022 during 2021 limited to 60% of current or future projected production, hedges for 2023 during 2021 limited to 50% of current or future projected production for 2023.

The rule only looks at the future but it starts January 1st per year.

I accept that "rolling" could mean from any calendar point but that as a "policy" seems a bit less structured.

Happy to be "no, no , no'd" if absolutely necessary.

Thre is mention of Kraken hedging "in accordance with Sculptor Capital Facility Agreement", does anyone have any info on that. Is it a fixed percentage or what?. Have searched to no avail.

If Mr OGA presses a button at midnight I have graphs and numbers at the ready.

You're all a good bunch. Sunshine to all . . . even solar!

GLAXXX

Hi,

I was looking at hedging recently and current conversation makes this relevant:
"The Group’s policy is to have the ability to hedge oil prices up to a maximum of 75% of the next 12 months’ production on a rolling annual basis, up to 60% in the following 12-month period and 50% in the subsequent 12-month period."

It was "9.0 MMbbls of oil for 2021" reported in May. Going from mid point of annual production target range, that leaves about 4.4mmbbls of permitted hedging for 2021.

Hedge wisely Head of Hedging . . . and don't forget the Kraken uplift.

GLAXXX

Hi L7,
Had just spotted that myself. Having had a first outing, whoring her way around the north sea, sampling the fare, she has decided that the heavy flow of Armada Kraken is favourite. Good decision.

GLAXXX

All,

This is the actual three in action joined by Neil Hannon.

https://www.youtube.com/watch?v=XXIcPnykZBA

If you can watch it all you get extra dividends.

If Zebedee doesn't go boing soon I'm going to cut my losses and find someone looking for investment to drill oil on Mars.

Desperate times call for desperate analogies

And where is my frikkin boat!!

GLAXXX

Hi,

More "near term" here:

https://www.klsescreener.com/v2/news/view/833259/hibiscus-set-to-soar

“While Marigold may only achieve first oil in late 2023, the Teal West and Eagle discoveries will be a key focus for management as potential tieback candidates to the Anasuria FPSO (floating production, storage and offloading) vessel in the near term, ” said the research unit.

"The research unit also said by end-2022, Hibiscus may be looking to achieve first oil from its recently acquired 70% interest in the Teal West field together with an 85% working interest and operational control of the nearby Eagle pre-producing area, which was a farm-in arrangement with EnQuest"

So near term might be end 2022?

And,I don't know what the problem, is Enq are all about sharing:

https://www.hellenicshippingnews.com/how-the-sharing-economy-can-transform-asset-heavy-industries/

"According to Amjad Bseisu, CEO of Enquest: “Sharing of non-competitive assets and resources needs to become a mainstream practice to minimise the carbon footprint and increase productivity of our industry.”"

Did he mention a carbon footprint there? I think he did.

GLAXXX

Laserdisc on advfn suggesting a trial hook up??

Seems to have snuck up on us. Due any moment according to Marine Traffic.

GLAXXX

Hi,

I am playing with hedging numbers and had asked a question to IR which has just had a response at 21:32 in the evening. That is due some respect. Ian Woods shold be tucked up with a hot water bottle.

For those that care, Malaysia is not hedged but is tied to "Malaysia Official Sales Price with a Tapis differential applied to this as we sell our oil via the (Exxon Mobil operated) Tapis platform",

I have some refining to do but I expected as such and with hedging numbers reported thus far it implies that Kraken oil is this year much more heavily hedged than previous years.

GLAXXX