I’m with Flossoffa on this one. Overall the rumour mill seems upbeat to me, after all this is exploration. It’s meant to be exciting and come with a little unpredictability!
The bit in bold wasn’t from me, it came from the informed source.
I did, however add the "`Looks like, yet again, the seismics weren’t entirely honest.’ There was supposed to be a line between the bit I copied and pasted and my bit.
Maybe “not honest” wasn’t the right phrase, more “not quite what they were expecting” which I can understand in # basements.
Yes, but as you’re all aware, it goes into updating the model and helps them understand a little more.
Shame there aren’t any analogous fields nearby (apart from maybe Lancaster) to compare it to.
Presumably the offload will be made as soon as there is sufficient oil to fill a shuttle tanker. Any further capacity in the FPSO is there to cater for delay due to bad weather etc. They would never want to get to the stage where production is limited by the capacity of the FPSO.
You’re quoting Hoofhearted here, whose post I reposted from LSE.
I’m keeping an eye on Laserdisc’s posts for a shuttle!
I am not buying the - producing loads of oil from Lancaster posts. The company is gathering well data over a set period of time with a set increase in production numbers over a timetabled timeline. Reservoir performance data is collected, collated and interpreted every step of the way. By trying to produce say 18000 bpd you will not achieve your original objective?
So I am not at all worried about Lancaster production, 20,000 bpd from start of December will be great. Its Warwick Deep result that I look forward to. Success on GWA and we are off to the races.
IMHO DYOR NAI
Hurricane have clearly stated they will be staggering production / offload and taking it slow and steady - not sure how that reconciles with ‘The FPSO’s tanks are filling up nicely’ and rumours of exceptional flow - as Dyncaled notes, it has to go somewhere …
Guess what’s actually happening will become clear after (or perhaps before) CMD.
Good Evening Everyone,
Lots of extremely positive posts from LSE regarding the Warwick Deep drill and production from the EPS on Lancaster.
I’m sure all will be revealed in good time when Dr Trice considers the timing to be appropriate. To ensure maximum impact the key to future news flow must surely be the CMD early next month. Hurricane won’t be in a rush to ramp up production on the EPS, they will be more interested in obtaining reservoir data. However, the key to giving the share price a much needed boost must be the Warwick Deep. If this well is as successful as, or better than, the wells drilled on Lancaster we could see the share price exceed our all time high and maybe even go over 70p.
Looking forward to next week and the build up to CMD,
Regardless, the vibe in general seems to be positive, next week is looking more interesting by the hour!
Shuttle tanker Amundsen Spirit due to arrive at Lancaster on Monday
So that answers that, offloading this week then.
Also from Bloodhound on ADVFN:
Good Morning Albi 1,
Events starting to happen now that the shuttle tanker, Amundsen Spirit, is now en route for Lancaster. This will be the first load of commercial oil to be taken from the Aoka Mizu.
Monday should be interesting as oil is off loaded from our FPSO vessel and the Amundsen Spirit subsequently takes our oil to market.
I wonder how big the impact will be on the share price? In the Morgan Stanley note a few weeks ago they stated that the sale of oil into the market was one of the factors that would have a significant effect on the share price.
Is it me or does this first offload seem a little…early?
Thought pumping the black stuff started on a throttled schedule of 30%?
It is possible that they want to check that all systems are working whilst there is time to sort out any glitches rather than just assume that everything will be `honky
Yes, until we receive official news we are just speculating on events. I think we know the first test oil, when we first saw the flare, was offloaded onto one of the support vessels as non commercial waste. The wells would I guess have been further tested and commercial oil stored in the AM prior to the three day official test at 20,000 bpd, official oil production started on the 5th June so 11 days @ 9000 bpd. So there could be around 250k barrels to be offloaded? As Floss suggests they will probably off load a small amount to test all is ok with the system. I am guessing the first tanker hook up was a dry run.
With offloading oil and drilling result expected this is all very exciting!
The shuttle tanker, Amundsen Spirit is now approx 40km east of Fraserburgh with an ETA of 3.00am tomorrow at Lancaster.
Perhaps the Aoka Mizu will start discharging oil onto the A S some time tomorrow when the stock markets are open. If this is the case, then Hurricane’s share price tomorrow could be interesting.
Reading the various posts on LSE and Advfn, looking like over 300,000 will be offloaded. We’ll see soon enough, likely it will be more.