Member Info for Yobbo

I was wondering a few days ago how many people on the rig had drilled fractured basement before. Now I know Dr T is there, I am much happier, even if he is actually not in charge but is supreme consultant to Spirit. If HUR were producing 200,000 barrels aday then him not being at the AGM is a problem, but HUR are still a small company and I have no problem with Dr T being hands on and delegating. I think we will see more of it in the future as the company grows, as it looks like he probably doesn't enjoy the Governance and admin part of running a plc.

Well done Dr T and the team. First oil is always a great day on a project. No doubt todays AGM will be quite a triumphant event.

I am not worried about the share price today. A few years ago I did some analysis on share price rises at first oil for various companies over the last 15 years. After quite a bit of work all it did was prove to me that it is totally unpredictable and usually sentiment driven. A price rise anywhere between 2% to 80% in the first couple of weeks seems possible, which tells us little in terms of predictability apart from 'first oil' is usually seen as a positive :)

Is it me, or does AM look low in the water? Tanks quite full with oil or perhaps ballast ? I guess we will only know when they tell us.

Sea conditions look good for a while as well.

When l had a French boss he used to call me Rosbif. Mind you I was a bit of a unit back then.

I wonder if they would risk going straight into the AGM without an operational update RNS of some kind? If they did there could be some tricky questions from investors at the event. Even if there is nothing substantive to report, they need to tell that to all investors and not just those the AGM where something could accidentally slip out. Yes they normally issue their AGM slide pack, as do all companies, but to my mind that wouldn't be sufficient.

I hope it was an intrinsically safe phone, or have they relaxed the rules offshore with phones now ? Definiteely not going to be getting employee of the month..........

There may be some more action when the US markets open.

Briefly 64p to buy, up 12%

Just seen 62.5p onHargreaves site.

That can't be far off of the all time high.

Jaykay1, quite a few investment gurus over the years have reiterated the old advice that you should leave that very last bit of profit for someone else.

I think cat5 may have been referring to proven resources rather than production. What a takeover like this does do though is benchmark the very approx. Current value of an oil company per barrel of resource or barrel of production.

Oil price is shooting up today as well which may be a factor

Cebo, Many years ago I read an incident report about a flaring event at an onshore facility that went comically wrong. An unplanned flaring was needed. The flare srack ignitor failed, as did the back-up system. The person who had the permit to light the flare with a flaregun was on holiday and his stand in was sick. It took 20 minutes to find anyone who would volunteer to do it. The local police had to give permission which led to further delay. The volunteer with his second shot missed the gas cloud completely, his flare shot sailed over the site boundary which caused a 150 acre grassland fire. In the end the local fire brigade had to light the flare stack. :( I heard a rumour that a very similar event happened again recently somewhere in Europe. Tricky things hand held flare guns.

The tracking pattern of the Drott looks brilliant , perfectly symetric.

I don't see HUR spending much time on experimentation now beyond the basics (and maybe a few quick nice to haves) to get HUR to first oil and steady production. Bluewater will be pushing to get the AM to a position where they get their day rate and anything that might delay that in the experimental line would be challenged. In Bluewater's shoes I would be pushing hard for Prod to start as soon as is safely possible.

On page 22, are they trying to head off their doubters? There must have been some management discussion before adding that pages title to the slide pack.

Its 13 years to the month since BP's highest ever share price. I am not sure any of the majors have had really good share price performance in the last dozen years or so.

Correction, while the TO Leader position looks reasonably accurate, most of the support vessel positions have not updated for 5 hours.