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IMO, for what it is worth !!! This trade was the amalgamation of Dark Hole trades for the day. The MM,s had to balance their books before 4-30 pm. I have seen this occurrence quite a few times on aim. I do not worry because (as they say) when they have gone , they have gone!!! These dark hole trades do not take into account sells from ordinary PI,s. I just look forward to tankers going out the gates, and worry not over things I cannot control.
GLA.
Yes indeed, but not unexpected. In fact to my mind right on time. NOW let them tankers roll and lets see just what the KL will flow at with a release choke, 300 barrels a day will not surprise me and a bit more would be good. Lets give SS and team a big clap for nursing this along. All IMO.
GLA.
Northfork. That is spot on now I think. I think now it all came down to money. It must be far cheaper to book a Rig for 6 wells ,rather than 2. SS could not sign up that order for the Rig until he is sure we have planning. I know everything points to us getting it, but when money is involved SS would make sure first.
Good Luck To You.
We are all aware that we have no problem at HH. Last Monday when I thought the Rig would arrive, I then gave more thought to the reasons it had not. I am sure now of the reason why, and do not wish to give my thoughts on here. Fear not SS and team have everything in hand, and if I am correct in what I now believe has been the reason for the delay, then all share holders will cheer for SS. IMO.
GLA.
I am sorry I said this morning that the rig could be in by dinner, and I was going on the fact that we only had 2 oil tanks to move. It now appears that SS has decided to re-configure the whole site by moving all the oil tanks, in preparation for the next 2 wells and the further four after we get our planning permission. What I would like to believe is that the KL oil has been better than expected under a very tight choke. This is only my opinion on events to date. So the rig may now arrive tomorrow, but I do not care when it comes.
GLA.
Further to my earlier post, Magellan and its parent company would not agree to the rig being paid out of their income in HHDL, when they would see no benefit as they would be gone. Further it would need a break in income from oil sales to establish clearly what was theirs and what was not. So a seven day break in income would be needed. This is my reasoning over the delay.
GLA.
IMO. Monday morning the deal with Magellan will be signed off, and next week will see our share fly. IMO the tanker last Saturday said it all, and then our well was shut in. IMO, it would need seven days to establish Magellan,s share of the money in HHDL. SO next week will see the rig appear and tankers running.
GLA.
Will carry on testing the gas zones until ERCC grant them the extra storage tanks. Rathlin seem to have this well covered and will not want a large oil flow yet, and so people should just sit tight and wait, it will all come good in time. IMO.
GLA.
Penguins. The cost of the production including transport is $20 dollars. If you think this is wrong take it up with SS. In your paragraph 4 you are right and my price of $68 is wrong and should have shown $63.8. I do not agree with the rest of your letter in any way, but you are entitled to say what you think.
ALSO it should be noted that our present well production cost of $20 a barrel would be drastically reduced to under $10 per barrel if we tanker 10 a week or more, as we would be using the same men and pump to recover same. IMO.
GLA.
Scallywag 3. You are correct or near enough, at the current price of Brent crude , at 5 tankers a week. People should remember that Tellurian were cost free and we were picking up that bill in the $20 dollar cost to produce a barrel, or £369000 per year. Tellurian share. Although Brent is down to $58 per barrel we are getting a benefit from the low exchange rate for the £ against the $, which means we are getting around $68 dollars a barrel for our oil. If we only get 10 tankers a week shortly we are in for a serious boom in price. However if SS is correct with his assumption from the next 2 wells My figures should be short by 5 fold. IMO.
GLA.