I bet the AM crew have done away with movie night and just read the bulletin board posts for entertainment.
Must have been a reccy as after a couple of hours Stena Natalita headed for Glen Lyon , the FPSO on the Schiehallion field.
lameduck, Yes guess so. Perhaps just a practice hook up on the way to Glen Lyon. Good to see the share price jump to nearly 44p at the close. Good news soon I hope.
The chat has been quiet for a few days… Anyone with anything interesting to share???
Sh…we do’t want to upset the SP
Well, I was at a small, quiet village fete yesterday.
I had only been there a few minutes when a man started hitting a woman!
Next thing a policeman turns up and starts hitting the man with his truncheon
Last time I watch a Punch and Judy show.
This upward trajectory as Floss put it is indeed quite settling… I still belive in this company and its assets. Let’s hope it carries on up!!!
I love traditional Punch and Judy, probably because it is so `politically
Anything non-PC is ok in my book.
Looking at Hurricane’s guidance we have produced 4 months oil in 3 months. Does this translate into 4 months of de-risking Lancaster?
Will the production continue to be ramped up to say 20,000 barrels per day giving us a further off load about the 10 Sept?
Been thinking about the RNS today. This is my take: The company is very sorry it has been unable to properly test the Lancaster wells as per previous guidance, we have been unable to produce the expected 9600 barrels per day from June to end of August because we have a flowline problem, and we have only been able to use one flowline. As a result we cannot say whether Lancaster field will be long term commercially viable. In the meantime we have had to produce on average 14, 400 barrels per day from 6th June to 17th August, we apologise for producing 1.2 million barrels instead of the intended 740,000 barrels. end
So HUR expected $60m operational cash flow by end of 2019 but by 17th August HUR have generated $70m op cash flow! They must have been (on occasions because of shutdowns) producing around 20,000 bpd along one flowline from two wells! From 17th Aug to 31st December, we have 6 weeks at 9600 bpd and 90 days at over 13000 bpd, average 11,000 bpd, say 1.4m barrels at $60 giving around $84 million. H1 end $81 m cash, including $22m from first cargo, so $132 m operating cashflow generated H2 2019. HUR commitments ongoing and 2020, debottlenecking and GWA tie back and gas tie back $47m . 3x GWA wells 2020 $95 m total $142 m. So HUR will easily be able to cover existing commitments in 2020 and I would suggest have plenty of cash to undertake further drilling on GLA in 2020.
I think Dr T is taking the mickey out of the market and the industry here.
Lots of news likely before end of 2019. Interim results on Friday 20th Sept. How successful will Lincoln Crestal be? Will Spirit commit to 2020 and sanction the three well GWA drilling campaign. Remember the campaign will have to include completing the LC well for tie back to the FPSO. Will Spirit commit prior to the analysed result of Warwick Crestal well, only likely end of 2019 or early 2020. Do HUR and Spirit have another FPSO lined up? Could take two or three years to have it modified for WOS weather and other engineering mods. Will HUR commit to a separate drilling campaign on GLA two or three wells? Re-enter Halifax, re-enter the Lancaster 205/21a 4z (2010) well to complete and tie back?
Will there be another farm in? If share price spikes should I sell and buy back cheaper?
Questions, questions. Decisions to make. Could be time to hold as next year seems likely to see the SP rise significantly or … sell on spike and buy back in during intervening doldrums prior to Warwick Crestal results. If looks like repeat of previous patterns will probably sell on spike and buy back in … will have to judge closer to the time.
Remember a certain poster being vilified for saying this would go to 40p
Cut throat business
We had a few of those but if you’re talking about a very prolific poster it was probably the incessant repetition and attitude that caused him to be vilified rather than his figures! Anyone who’s held for some time here is aware of the spike pattern as we reach each new milestone and prove up the concept further. The question is, this time, given that Warwick Crestal is 90 days away - some may wish to top slice, some to sell out and hope for a favourable re-entry and some continue to hold.
Just to correct my previous post, a rig will not be needed next year to complete the Lincoln well, they will use a specialist ship and diving vessels as they did with the Lancaster wells.
There was me thinking they used the Paul B Lloyd to complete the Lancaster wells.
rr, Yes it did. But I watched the CMD presentation and thought I heard Stobie say they did not intend to use the 2020 3 well rig to complete the LC tie back. (?)
Share price struggling to reach 50p, could be serious PI selloff if this gets back to low 60`s.
Completing a well and subsequently tying it back are different operations and require different vessel capabilities.