Post foil



No mention of volume.
And confirmation that there will be no dividends for the foreseeable future, which is OK by me.


If only all my mornings started this well! Congratulations to Hurricane on its first lifting!


Hi All,

What a superb start to the day! Well done Hurricane!

From discovery to production in 5 years. In hostile waters such as those encountered West of Shetland, it takes companies such as BP around 10 years to achieve what Hurricane has done in half the time.

No mention of the amount of oil and also no mention of how much it has been sold for. Perhaps this information is being with held in anticipation of making a big impact at the CMD presentation next month.

I can’t see the A M making the trip to Lancaster to pick up a small cargo. Shuttle tankers such as the A M cost an absolute fortune to hire.

It’s going to be interesting to see when the next cargo from Lancaster is sent to market.



Perhaps this lift was time to enable a second lift prior to the CMD?


Actually, I can’t see this happening by CMD if we’re deliberately choking output to 9k.


Photo on Twitter


I can see that getting quite hairy during a Shetland winter.


First cargoes are invariably sold as at a discount to the bench mark. The refineries like to know exactly what they are getting, and how it fits into their refinery run. It is likely to spend longer in storage as they guard against any negative impacts.


I should imagine that they will have the ability to disconnect and reconnect when conditions become too extreme, but bear in mind that these are big vessels and the wind and swell monitoring out across the Atlantic will give plenty of warning of what is coming and when.

The AM will obviously ride out the worst weather and the shuttle tanker can presumably time its trips to coincide with the weather



Any idea what we put in the AS?


and even more importantly, how much of it



From LSE

The captain of the Amundsen Spirit has communicated to the Rotterdam Harbour agencies the following information concerning her cargo:
47.389 tons of crude oil which is apparently the equivalent to 356.429 barrels of crude oil (from Lancaster).


Hopefully that is not a decimal point; perhaps they have just run out of commas and instead are having to use the full



Hi Floss,

The following is a cut and paste from a post I put on the board three days ago. the two wells on Lancaster must be producing well in excess of expectations with 47k tons of crude produced that equats to 356k barrels of oil.

I can’t understand why these stats weren’t included in the RNS that announced the first lifting of oil and the departure of the A S for Rotterdam.

“”" If the first tanker load of oil is 300,000 barrels it’s worth a shad load of cash to Hurricane.

On page 14 of the Q2 2019 Corporate Presentation there’s a chart showing the cash flow due to Hurricane for a given price of oil. i e $50.00, $60.00 and $70.00 a barrel.

The current price of Brent Crude is c$60.00 a barrel. The average operating cost at $60.00 a barrel is $22.00 a barrel. Therefore the cash flow due to Hurricane is $38.00 a barrel. If the amount of oil off loaded to the Amundsen Spirit is 300,000 boo this shipment is worth $11.40 million or with the $ / £ at c$1.25 this makes the shipment worth £9.12 million.

And don’t forget Hurricane have a 100% interest in Lancaster so all the cash is Hurricane’s!

Hope my back of a fag packet calculations are correct, if not, I’ll have to get a new abacus - but not the one Diane Abbot uses!"""



According to Amaja on LSE, it’s definitely in the region of 350,000 barrels!


Hello Albi 1,

The figure of 350,000 barrels of oil is the figure I worked on three days ago.

I can’t understand why the RNS didn’t contain any details of the amount of oil sent on the A M to Rotterdam.
Can you throw any light on why?



In view of the noncommittal RNS , your use of the word `if’ is entirely



It may be atypical of what they would produce long term and hence misleading.


Hello Ash,

I can see where you’re coming from with the first cargo of oil being a one off with the possibility that further shipments will not be so prolific.

However, if the size of the oil cargo is readily available when the captain of the A M notifies the refinery, surely the size of the cargo would be better coming from Dr Trice rather than some sharp eyed investor getting the info on the captain’s report to the refinery.

Or perhaps, Dr Trice has overlooked the captain’s communications with the refinery as a source of info for the investor.



There are some cunning investors on the forums :slight_smile: