Harbour Energy Share Discussion Threads

[stocktastic] 11/2/2017 22:10

'Why wouldn't PMO want to develop Sea Lion? It's massive.'


Is it not more a case of whether they can afford to (ie. get a partner and afford to), rather than whether they would want to or not.

[oilretire] 11/2/2017 21:30

Who will they sell the oil to?
Multi-multiple choice answer.

How will they ship it out and at what cost?
Err, tanker & they've already answered that - phase one is currently $45/bbl break even.

It will take years to produce due to location and drilling problems, you view?
Maybe, maybe not, an FPSO to production inside 2 years is possible.

Selling and buying assets closer to home would make more sense, your views?
Agree, that's why I'd be happy for PMO to take a back seat & farm out for a free carry (including operatorship) to a third party.

[marvin9] 11/2/2017 21:18

Questions for ya:

Who will they sell the oil to?

How will they ship it out and at what cost?

It will take years to produce due to location and drilling problems, you view?

Selling and buying assets closer to home would make more sense, your views?

[oilretire] 11/2/2017 21:12

My excuse? I'm working so it's not really my time I wasting on here ;-)

Re Sealion, would like to see them do a similar deal that TLW did in Uganda - hand operatorship and a percentage over to a bigger player in exchange for a free carry to first oil.

[marvin9] 11/2/2017 20:25

From the 12th Jan update:

Approval of Tolmount development concept expected shortly, will provide next phase of growth

Meaning:
We had our annual ... who has the biggest todger meeting (better known as the latin name of Tolmount), and again I won hands down, but was accused of cheating due to the todger being attached my head.


From the Telegraph article, way forward on Tolmount agreed it seems:
“I’ve just sat through a project review meeting this morning on our project at Tolmount and the conclusion we came to at the end of the meeting is:

Meaning:
Not enough jam rolly polly and custard; Ive advertised those sea lions I bought for mega bucks, but again will lose heavy just like Solan.
The Chicken was a little under cooked but ate 5 regardless, at the expense of share holders ARF ARF ARF!


what we’re go with.

Meaning:
Don't understand this bit due to being dense... but sounds a little dencer than me


The nature of the animal at a major would require multiple layers before reaching that kind of decision,” Durrant says

Meaning:
Meaning layers of pastry on the real ale puff pie

[oilretire] 11/2/2017 19:44

From the 12th Jan update:

Approval of Tolmount development concept expected shortly, will provide next phase of growth


From the Telegraph article, way forward on Tolmount agreed it seems:

“I’ve just sat through a project review meeting this morning on our project at Tolmount and the conclusion we came to at the end of the meeting is what we’re go with. The nature of the animal at a major would require multiple layers before reaching that kind of decision,” Durrant says

[marvin9] 11/2/2017 19:19

This is like ground hog day,

Old boring newssssss Loedabull

[leoneobull] 11/2/2017 17:10

Two TD quotes

[asa8] 11/2/2017 16:20

must be for all the weed there growing on it!

[marvin9] 11/2/2017 15:33

Nooooo

Tony turned it off, he said it will cut on costs, and bring the debt down

[deanroberthunt] 11/2/2017 15:30

yes, the energy saving one ?

[marvin9] 11/2/2017 15:29

I can see a bulb out rear left, can you see it?

[deanroberthunt] 11/2/2017 15:21

they couldn't fit Tony's food delivery on the ship as the boat would be sat past it's Plimsoll line.

[marvin9] 11/2/2017 15:20

Like a big floating birthday cake

[deanroberthunt] 11/2/2017 15:16

Marvin.

do you think they've got enough lights on it ? :)

[marvin9] 11/2/2017 15:08

Food delivery for Tony?

[deanroberthunt] 11/2/2017 15:07

this'll brighten things up.......

[marvin9] 11/2/2017 14:57

1 Blah Blah Blah

2 Blah Blah Blah

3 Blah Blah Blah Blah

[marvin9] 11/2/2017 14:56

Compared to you I'm a million watts.

Posting Blah Blah Blah news we already know zzzzzzzzzzzzz

[theelectrolyte] 11/2/2017 12:51

That's the opposite way to how you assess when a project is sanctioned.

1) By the time oil is $70 costs will be much higher - increasing the b/e. You effectively work against yourself.
2) You sanction and lock in lower priced contracts to take advantage of higher Brent when you get to first oil in 2/3yrs from sanction.
3) At $70 you've started to bring on a load of quicker to develop shale again... that's the very last point in time that anyone would be sanctioning a large Capex project that wouldn't deliver oil for another 2/3 years. It would be a repeat of Solan (i.e. Inflated costs).

At $60 oil SL delivers, phase 1 300MMbbls, extremely attractive IRR.