Member Info for xxnjr

The next tanker has arrived. It's in a designated waiting area about 20 Kms from the fpso. Will probably be done loading on the 15th or 16th assuming nothing arriving from J75P yet. The rig appears to be still on that well.

Apparently IRAN doesn't have accurate locations for all of the mines they laid. Neither the US navy nor the Iranians (as their minesweepers were destroyed by US) have vessel capability in the area to remove mines! This means the straits cannot be fully opened under the ceasefire.

It's not huge about $15m/yr at $85 OP. It's 2.5% revenue share net of tax on about 28% of field that Tullow sold.

Uganda first oil is anticipated about Oct 2026 according to Total.

That should probably read..... Recent "policy" included 3 ways.

Tb33 - thx I'm still there. The reason for the difference in your bblls is Jubilee maintenance shut downs are usually biennial. There isn't one scheduled for 2026. As for the rest - no not at this juncture as it's too early to say on cargos.

Flavius - the hedging you referred to was imposed by the 2026 bond holders. That doesn't seem to be the case this time around. Recent "policy" was 3 way collars giving access to some upside. One can only hope that's still the case......

I'm not exactly confident in this but it could still be on J75P. It looks like it is visually. I usually have the coordinates of drills but I forgot to do that for j75p when it first started drilling! My bad! The next tanker might give a clue.

I had an email from tlw IR a while back confirming that hedging "policy" is unchanged which might suggest the continued use of 3 way collars.

That could be a historic take as the current period hedges were placed as $59 to $76 collars. If they added the 3 way on top then maybe that would take out $77 to $87 with upside from $88 if you see what I mean. Not that it makes a huge difference in the round.

The funny thing is IRAN has no navy (thanks to Trump) but all it has to do (thanks to Trump) is merely say "the Straits are closed" and no ships pass without IRAN's blessing due to insurance issues. Trump will go down as the dumbest president ever even though his MAGA tariffs made sense from an isolationist USA perspective.

IRAN has closed the straits of Hormuz due to Israel's deluge of attacks today on Lebanon.

That was my point.......

It's funny how allmost all Iranian drones and missiles are "successfully intercepted" yet "falling debris" causes material destruction with pinpoint accuracy :)

Trump has caved in again!

I'm in The Canaries again so haven't been following things. Crikey! That dated Brent (platts) has really blown out. Last cargo did ship on the 2nd April as anticipated giving a cargo price before hedging of about $139/bbll.

Rig looks like still on J75P. Not 100% sure as i forgot to note the well location grid reference. Let's say fairly sure to be confirmed if next cargo points to unchanged 70k bopd....

Trump keeps on rubbishing NATO's European members as he's attempting to shift the blame for things going off plan in his ill-considered attack on IRAN ignoring the fact that NATO exists purely to defend other NATO members under attack. Last time I looked IRAN wasn't a member of NATO. US unilaterally (with Israel) attacked another country. Nothing to do with NATO.

The other thing is the US NAVY has been scared (so far) to put a vessel anywhere near/inside the Persian Gulf. Their 2 aircraft carriers have been miles away and even so one of those went up in smoke with a fire that took over 30 hrs to extinguish. The fire (apparently) started in the laundry with that carrier now out of action for a year. The replacement USS George H.W. Bush (CVN-77) won't arrive for 3 weeks.

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Tonyb33 - just to wrap it up cargo's are not "front month" but based on "dated brent".

Iran’s Revolutionary Guards said on Tuesday they will target US companies in the region as of 1 April in retaliation for attacks on Iran, state media reported.

The 18 companies listed in the IRGC’s threat included Microsoft, Google, Apple, Intel, IBM, Tesla and Boeing.

“These companies should expect the destruction of their respective units in exchange for each terror act in Iran, starting from 8 PM Tehran time on Wednesday, April 1st,” the IRGC statement said.