Member Info for Therapist

Hi

Hibiscus quarterly today.

https://www.hibiscuspetroleum.com/wp-content/uploads/2021/05/QR-3Q-2021-Analyst-Briefing-Final.pdf

"The Teal West and Eagle discoveries will be a key focus area as potential tieback candidates to the Anasuria FPSO in the near term"

Stay focussed in the near term then,

GLAXXX

Morning,

https://www.offshore-energy.biz/westwood-30-fpsos-to-become-available-by-end-of-2022/?utm_source=offshoreenergytoday&utm_medium=email&utm_campaign=newsletter_2021-05-20

Seems like the "multiple parties" talking to Amjad may have ,multiple choices' fairly soon.

EP - Sell, Lease, Use or scrap? The bill at Nigg is rising.

I got this from Enquest IR whn I asked about EP and OO: "Sometimes surrender means giving up trying to understand and becoming comfortable with not knowing." Much more comfortable now.

GLAXXX

Hi,

As tweeted AS is taking our prized cargo to Denmark. That's new.

GLAXXX

Hi,

Didn't catch the moment but AS is sucking hard on our tanker of heavy oil desire and has been locked on for a while. I would refer to Tarmak's sheets for timing details but they won't let me in. I know Altera Wave departure highlighted on 3rd May.

After this weekend I'm not sure whether to package the pom poms or have them at the ready??

I do actually own a set of vintage 1960's pom poms!!

GLAXXX

Hi,

I see how you read it.

Why "Economic effective date 1 January 2021" and "immediate incremental production of c.10 kboepdfrom low-cost fields with low near-term capital commitments". If immediate is when the deal is signed why is the January date given?

Genuinely curious to know which version is correct.

I know which I prefer!!

GLAXXX

Slift

"EnQuest plans to finance the Transaction through a combination of a new secured debt facility, interim period post-tax cash flows between the economic effective date of 1 January 2021 and completion, and an equity raise (collectively the ‘funding arrangements’)."

Seems bulletproof to me. Part of the transaction deal. No?

GLAXXX

All,

Depends what floats your boat or plugs your well but this is interesting.

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

GLAXXXX

Hi Monkey,

Northern Producer back to owner. Enquest Producer in warm stack at Nigg. Amjad says he's talking to multiple interested parties for sale or redeployment (which I assume is lease or own use). Scrap is the other option. Who can assist with numbers ? £20-50 million scrap. £150 million sale. Anyone know?

GLAXXX

All,

AS on her way to Armada Kraken due 16th. I know being here frustrates the beejeesus out of one, but you need to channel the patience of a shuttle tanker pilot 48 hrs into tanker tease. Somewhere over the frikkin rainbow . . .

GLAXXX

GKB,

I call Amjad Bseisu and Martin Houston to the witness stand . . .

GLAXXX

does Pelle get a fine for that one?

Swinney on the bongoes again.

Hi

Give me a U, give me an S . . . . .

FY20 report talked about Magnus issues being "complete" and an intervention being "successful". This update mentions an intervention program. So, those of us that thought Magnus was at full throttle were a little misled by the language previously used I think.

Anyhow, I hope they have now been intervening at Magnus more than Greta would whilst gatecrashing an Oil Barons Ball

GLAXXX

Hi,

49750 boepd to end April 21

Not updated enough to do other number predictions as yet.

We've all been here before and despite all the profound analysis and self evident truths it has a nasty habit of swiftly going South on days like tomorrow.

BUT TOMORROW WILL BE DIFFERENT!!

Updates aplenty, disclosures transparent, developments explained, production issues detailed, FPSO's sold, all that confusing finance stuff thrown by the wayside, d******d timetable released and 60p party fully subsidised.

GLAXXX

Jan,

Glad you decided to stay in UK. If you get a chance I've heard that there is a lot going on at Costa del Nigg on the East Coast of Scotland. Dodge the quarantined oil worker by day and Plenty of vibrant nightlife to enjoy till the wee small hours . . but you'll have to be quick as the floating fun palace might be relocating shortly.

GLAXXX

Hi L3

"Coefficient of dispersion" straight out of an EP job description. Hope your take includes planned and preventative maintenance.

Skills depletion? I have always read that Enquest are admired for operational efficiency. Maybe Magnus is now fixed (for a while)?

GLAXXX

https://etcanada.com/news/777947/victoria-beckham-puts-a-stop-to-spice-world-sequel-rumours/

Hi L3,

Your PS puts me in a spot to show I have a rationale. I do, believe it or not, and it is based on my experience of operational efficiency gleaned from a different industry. Stuff happens but it usually doesn't keep happening . . .until it happens again. I don't think they have ever had a clear prolonged clean run at Magnus. I can see production numbers when they do. I don't track the water but maybe I should start. I suspect Covid would also have had an operational impact on efficiencies last year for various reasons. Link has a graph and some facts. I am an optimist and I predict a kindly period.

https://www.dropbox.com/s/be521ysqzpxrn8h/Magnus%20Rationale.pdf?dl=0

GLAXXX

Hi,

https://www.moodys.com/research/Moodys-announces-completion-of-a-periodic-review-of-ratings-of--PR_443251?cid=7QFRKQSZE021

Couple of sentences in here, nothing new.

GLAXXX

Hi,

Did someone mention whips?

vAngelis, your chariot is well and truly on fire. You bashed in the front doors and I daresay you'd also be willing to make an attack at the back. Alas, you seem to have forgotten your EP training where we ask for a subtle approach. How many times have I told you to be a seducer not a reducer. Start slow, the forum is the lubricant that will aid your much needed satisfaction, and then build to a big finale. You're already out to pasture for a few so I beg you reign it in, "in for me" not "infamy". We're a friendly if somewhat depraved bunch. Last chance.

GLAXXX