Member Info for ZippyFrood

That's a good point KO, though I would amend to;

Thinking about it , The Opec deal only gives its members the ability to increase production, doesn't mean they will OR CAN increase !

A lot of commentators are sceptical as to whether some countries can actually increase their production in any meaningful timeframe. Time will tell by end of 2022.

Forgot to add, their heavy oil, not sure how comparable it is to Kraken, but a premium to Brent would be nice!

Their CEO replied to my message on the LSE board.

They’ve got a “meet the investor” event next week, sign up and ask some questions

Hi Steve,

Thanks for the reply, very impressive, though I hope you're so busy in future developing assets you don't have time to reply!

Will definitely sign up, it's a very interesting story.

Encouraging that Mr Bamford has taken his fees in shares too.

Thanks again

Anyone familiar with the Consultation facilitation company Guidepoint?

I was pinged with a consultation request about EQ, for a client based in Madrid….hmmmm….

Anyone know who these clients usually are? Is it banks and finance people? Potential acquirer?

Hello all,

I note the previous ownership of the Pilot area by VPC, I recall this at the time.

Anyone know why the development was shelved? Was it in the too hard pile? Were there potential other better uses of Capital for VPC? Was heavy oil out of favour in the late 2000's?

Does anyone have an visibility on the development solution? I had a look at the website and it doesn't seem to contain.

If it has a low sulphur content I suspect there may be a premium to Brent, would be a nice sales situation.

Maybe one for EnQuest to get in to?

Numbers out:

Crude -6.9m (-4m expected)
Gasoline -6.1m (-2.2m expected)
Distillates +1.6m (+171k expected)

Hi Freddie,

I'd imagine next steps would be;

1.) (if they haven't already) compile some joint G&G/reservoir model of the whole BBK area to work it all out, there has been talk of I think Kraken extending in to Bentley, so who knows the secrets a consolidated model would reveal
2.) Do some concept studies, building on previous work to date about how to solve all the issues as a joint area development, I'd imagine this would highlight the lower CAPEX/early cashflow positive reservoir areas to focus on - spend less CAPEX to earn more cash to develop the rest. You might call it "early production system" or similar...
2a.) Perhaps carry out some (pre)FEED or detailed design work here to firm up the numbers and understand all the topside mods required in more detail
3.) Once they've got this together and have some CAPEX/OPEX numbers, modelled production data etc, I'd imagine they'd open a data room and try to get investors on board. I think Kraken proved that ENQ can do good developments after the Alma debacle. They'd want to get people who don't necessarily bring E&P expertise to the party, but are interested in long term cash flow projects. I wonder if they' get a pension fund involved? Any thongs from any one else?
4.) select partners
5.) drill
6.) ......?
7.) VAST profits

Easy!

Yes, MRC's summary is great - he is a shyster of the greatest degree!

Never ever go near Lenigas!

There was another serial dodger who was involved in Nighthawk energy, I think it was someone Brabben. Also to be avoided in any capacity...

David Lenigas - one name to always avoid.

Like a girl who says "I have gonorrhoea"

Interesting thoughts Aloj.

I’ve never been a holder of an equity which has commenced a buy back.

What are the mechanics of this? Is there an order of precedence for purchasing from? How is the price decided? Would ENQ simply buy on the open market?

Thanks

You do have to wonder what level of truth there is in these OPEC numbers?
Is it actually 6m? How much non-compliance with quotas is going un-reported?
Is there much swing production left?
Can the Saudis really ramp things up to whatever they claim they can (used to be 15m I think?)
Will much extra supply actually enter the market?
Are the Iranians already "cheating" and exporting large amounts via illicit channels?
How many private jets loaded with bullion have flown in to Tehran?

Etc

I want a higher Brent price as much as anyone, but I do worry if it gets too hot, they things could get very messy, very very quickly.

$80-$90 would be immense.

Up 7.7%!

As long as we’ve had the 60p party before then!!

HI Pelle, no mention of production numbers, just that the four wells are complete having started August 2020, drilled using the Noble Sam Hartley, no HSE incidents etc.

Then at the end;

The Golden Eagle area, located about 70 miles north-east of Aberdeen, produced first oil in October 2014.

London-listed EnQuest is buying Canadian firm Suncor’s 26.69% stake in the area.

EnQuest said the purchase would give it additional production of 10,000 barrels of oil equivalent per day and reserves of 18 million barrels.

Almost 8%, happy days!!

Jeez, 7% up before lunchtime is a splendid start to the week!!

FYI Chilting (and other holders), there are currently ongoing initiatives in the UKCS to reduce emissions under an project being driven by the WEF. It's also coordinated by Accenture and involves all the major operators across a number of work streams. There are also other basins running projects under this initiative too.

The OGA is a stakeholder in the initiative too, so it likely plugs in to the transition deal in some way.

I think the early Kraken FDP had fuel gas imported from Norpipe - not sure what happened to that

Cheers

Give us LTHs £1/share and I'd be happy!

Ah thanks.

Maybe so much interest in ENQ the servers as struggling with the visitors to the board...