Harbour Energy Share Discussion Threads

[marunam2] 05/8/2021 07:09

3/8/21 Talos Q2 report.

Zama: On May 21, 2021, Talos announced that a third-party engineering firm engaged to evaluate the initial tract participation between Block 7 partners and Petróleos Mexicanos ("Pemex") concluded that the Block 7 consortium holds 49.6% of the gross interest in Zama and Pemex holds 50.4%. Subsequently, on July 5, 2021, Talos announced that Mexico's Ministry of Energy ("SENER") had designated Pemex as the operator of the Zama unit. As previously stated, the Company remains committed to maximizing value for its shareholders and will explore all legal and strategic options to do so.

[andypop1] 04/8/2021 18:33

Cat,
That's what the punters suggested June 2018 when PMO got promoted to the FTSE 250, let's hope history doesn't repeat itself!
Good luck.

[catsick] 04/8/2021 06:30

Into the ftse 250 , should give a nice re rate , question now is can they double the market cap and make the ftse 100

[ammu12] 26/7/2021 14:14

Taken from adfvn Factors effecting cash flow. They came in for first 4 months at bottom of their production figures around 46,000 boepd. We know that Golden Eagle has had 4 successful new producers and a couple of workovers on existing wells so could Be up near 15,000 bopd net to acquired interest. If combined they are at 60,000 boepd come end of September do we still think that the $32/barrel cash flow break even will be maintained or is there scope with falling interest payments and lower cost production from Golden Eagle for that to fall significantly. Previously in my cash flow projections I had not included Malaysian production but since I believe the projected $32/barrel break even price incorporates Malaysian production I see potential even at $32/barrel break even for Enquest to be giving off close on £2 million/per day cash flow when the Golden Eagle deal clears. That in turn clears debt in a year. If we come in somewhere near to these figures then I can see 50p/share not far into 2022.

[andypop1] 23/7/2021 21:29

What a dog this continues to be despite the new management and less aggressive lenders.
314p or 15.7p in old money with oil at $74, who would have thought it?
The creditor shares are still being offloaded judging by the trades reported after the close, that begs the question what will happen when the former EIG investors who hold 33% and the Chrysaor legacy investors and others who own a further 8% of the shares in issue are free to sell their shares, the creditors held 18%.
The staggered lock in periods suggest the majority of the 41% of shareholders want out, if they didn't wouldn't they have signed up to the twelve month lock up?
I am off for a week in a poxy caravan on the South Coast from tomorrow, not what I was expecting 18 months into the pandemic. The sooner international travel without the fear of quarantine starts up again the better.
Good luck, see you in a week or so.

[andypop1] 22/7/2021 21:01

JT,
Exactly right.
I'm a humble builder, if in late June I told my client the building was going to be complete and handed over by the end of July it would be. If I said to the hospital who had booked operations for the new theatres, the school that had enrolled an addition year group due to use the shiny new classrooms or even the housing association who had tenants lined up for the social housing a week before they were due to take possession I needed another six months I would be considered incompetent and would never work for them again. It's all about managing expectations.
There were obviously known commissioning issues in June and I would suggest earlier than that, that information should have been released to the market earlier.

[jtsouthern146] 22/7/2021 11:54

Worth noting that Tolmount topsides is 2,700 tonne whereas Culzean is 30,000 tonne. Tolmount is by comparison very small, just look at some of the pics of it being dwarfed by Valaris jack-up.

It is very rare that a 6 months delay emerges in the final month. As a good engineering rule of thumb unwanted schedule delays assume generally up to half the expected remaining run, ie if you're a month from first oil then an emergent delay of up to two weeks would not be ridiculous. 6months however..

[surfit] 22/7/2021 04:26

For what it's worth: Putting in a new jacket and hooking everything up is a massively complex operation, true most topside would be modular and a lot easier than "back in the day" and each should be rigorously tested but it's all very bespoke.
Totals purchase of Culzean (by buying Maersk oil ) also gas but a LOT bigger than Tolmount, hook up and start up went VERY well in comparison.
It's all about the experience of your management in contractor selection, application of standards and having really good project team.

HBR's did get PMO for a song, but are dealing with that legacy.
No wonder they are taking their time on evaluating SL FEED, combine that with (PMO history) Solan, SL FEED costs, Zama and the $23 million PMO blew with 88E does make you think PMO had a few more "issues" than just how to structure /protect debt management.
I am starting to get the feeling that us share holders might despite the share price % deal, have been lucky.
Rgds Sft

[andypop1] 21/7/2021 21:11

23 June 2021
'Tolmount final commissioning underway with production start-up expected around the end of July, adding 20-25 kboepd (net, Harbour 50 per cent)'

Are we to believe the company was unaware of the 6 month delay when they updated the market less than a month ago?
The advised date of the end of July was beyond the planned Q2 date the company previously advised so there were known commissioning problems, it seems Harbour have kept the same wordsmith on to write their official releases with forward looking statements that are never technically wrong but do mislead with the use of words such as expected.
Different company but with the same moral values so far as PIs are concerned.

On a lighter note, a much welcomed rise today to the dizzy heights of 16.75p!

Dandi,
Nutty is correct, Malcy has been promoting PMO since over a quid, he needs to rename his unregulated thoughts as Malcy's Ramps.

Good luck in the morning.

[brazilnut1] 21/7/2021 13:01

Not sure ? He hardly gets anything right.

[dandigirl] 21/7/2021 12:40

From MalcysBlog

“””;I’ve made it clear that I feel strongly that Harbour is a fantastic collection of assets run by a first rate management team and is remarkably cheap into the bargain. Unfortunately as its first announcements have shown, it does not preclude it from finding banana skins in operational matters which interestingly were not present under previous managements.”””

Not sure what to make of that last sentence?

[jtsouthern146] 21/7/2021 10:13

You’d do well to review history here. Chrysaor is responsible for Solan platform an absolute train wreck by any account and a big loss maker for the private sharholders at the time. Premier got involved and it hurt them too and now ironically chrysaor mopped up premier after being partly responsible for sinking them. Point being of you want to see track record of chrysaor management look west to Solan..! The irony is the tax position generated by solan made chrysaor attractive for investment. Wonder whether it was that or management credentials that Led to billions being pumped In..

[maxplus2] 21/7/2021 08:30

Another useless company

[brazilnut1] 21/7/2021 07:29

Disgrace. Con artists.

[inv] 21/7/2021 07:08

drop from 400p took this into account. can now rise

[heialex1] 21/7/2021 07:07

Interesting how little it has dropped on the news. One could make the case that suggests it is already cheap and/or assuming very little.

[andypop1] 20/7/2021 22:27

MX,
Patience and the special one, what a combination, lol.
Two chancers with no shame, I don't know if you read the asylum but I think one of the former regular posters from here has reincarnated as Soder promising to guarantee any losses, the poor sod was holding PMO at 30p+.

Marky,
Thanks for the tip on HE1 but as I told the clown who doesn't mess around I don't do AIM, I hope you make up your losses with it though.

Sicknote,
I nearly lost a finger trying to catch a falling knife at just under 340p, this is now in uncharted waters so I will leave any predictions of how low this can go to the better informed.
I would be happy paying the 326p I sold for if it looked to be a sustainable rise but I suspect the less cautious may get in substantially lower than today's close.

Good luck all.

[sbb1x] 20/7/2021 15:06

There was tge 300.Are the scum out now ?

[brazilnut1] 20/7/2021 13:50

This is disgusting but predictable. Mickey Mouse company produces Mickey Mouse returns to Shareholders, again.

[s34icknote] 20/7/2021 12:32

At what price you getting back in andy ??

[heialex1] 20/7/2021 11:07

Tragic performance this...

[steve73] 20/7/2021 05:33

I have the warrants noted priced at 814... I now have just 24 (from 15,000 PMO bonds)..

[markymar] 19/7/2021 22:46

Your demonstration of a withdrawal method worked perfect Andy......if you had not a fear a maintenance charge for 16 plus yearsYou have the ice queen in charge now, she got a lot to learn as communication skills appalling Wish you look at HE1 pure gamble but you can rub my nose in it but 23% up in a poor marketNever had such a buzz from a share since Desire Petroleum or rock hopper ...amazing CEO...put an hour in on home work Andy