Hydrodec Share Discussion Threads

[stevedd] 20/8/2015 07:31

So mixed news this morning. It's good that commercial sales have started up again and that even with the issues they will be cash generative at the plant. It's a shame that there are further issues though but I suppose it's better to have the kind of quality processes that finds these now rather than later. They also don't give an indication of how long they expect the work to take, guess we'll have to wait until the end of Sept to find out.

[caradog] 03/8/2015 23:19

Beginning construction in 2016 seems optimistic to me. If the application is submitted in October, we have a month before acceptance, 3 months pre-examination, 6 months examination, 3 months for the report, 3 months for the decision and 6 weeks for a possible appeal, we are already into spring 2017. 18 months for construction takes us into late 2018 before production begins.

See description of process in link below. Mind you, these time periods are the maximum allowed, so they could be shorter. I wouldn't bank on it though.

[davethechef] 03/8/2015 19:11

hxxp://www.ihsmaritime360.com/article/18841/hydrodec-to-build-uk-s-first-oil-re-refinery

[caradog] 20/7/2015 11:37

Couldn't agree more. Very impressive management who I also believe will serve us well, in time.

[luminoso] 20/7/2015 09:55

It just shows what a casino AIM is. Some utter dogs of companies with highly suspect management have made me good returns in the past, but a quality company with open and honest management have me well and truly underwater !
Collapse in Oil price and the Canton debacle were out of their control, so I hang in here for the long term as HYR's innate quality will bring the value out one day, IMO.

[mortimer7] 14/7/2015 10:15

It's pleasing to see such openness regarding the step thresholds in the Long Term Incentive Plan for their senior executives in todays RNS.

[capricious] 10/7/2015 12:30

Haha, there are certain poster here and elsewhere that need the it to post!


Quick turn around by the team and Ian and co were just keeping the investor informed.

[yump] 10/7/2015 10:53

Surely they are quite neatly just fulfilling the mild masochistic needs of AIM investors, without resorting to anything really serious ;-)

[kattatogaru] 07/7/2015 09:31

If it was just a quastion of o-rings or gaskets, rather than a large and expensive piece of kit, they should have specified it in the RNS. Yes it's material if the plant has to shut down for a few days, but tho call it an 'equipment integrity issue' makes it sound much more serious than it probably is, and this co does not need to alarm its shareholders any more than necessary! Prolonging the agony of those who are significantly down = cruel and unusual punishment!

[capricious] 03/7/2015 17:20

Cheers Caradog

[caradog] 03/7/2015 15:42

No, I hadn't spotted that. Thanks for the tip. Very reassuring, seems like a minor and relatively easily remedied problem. The share price drop now seems like an overreaction.

Here's the link:

[capricious] 03/7/2015 14:29

Did you listen to the broadcast? It's available on the Hydrodec site - it's either the o-ring or gasket or combination thereof.

There was a second leak but no specifics for this.

[caradog] 02/7/2015 17:03

What is the source of your information about the nature of the fault, i.e below-spec O-rings?

[capricious] 02/7/2015 14:05

These sort of occasions can be turned into good buying opportunities.


The plant was in full production mode for 3 days, so don't see a fundamental issue, and such testing would've been done at the factory. That is why it s annoying that below spec o-rings have been used... it must be a mistake, rather than something dishonest, as the saving to the constructor would be minimal.

[capricious] 02/7/2015 14:00

Good post yump.


Until today it was going very smoothly - problems with o-rings and such like, although severely disruptive for Hydrodec, are not unusual. The question is why the wrong o-ring was put in place and if there are more.

It doesn't detract from the overall design but some reduction in costs to Hydrodec might be appropriate. In addition, the problem area is localised so imagine the fix whilst annoying, will be short term.

[yump] 02/7/2015 10:20

Equipment integrity issues is what I used to get on my Vauxhall Chevette, except that's not what I called it !

Its actually not very unusual to find some bits of equipment playing up when you ramp up production, whatever the industry.

[parsons] 02/7/2015 09:45

Quite right to let the market know good buying opp

[bdroop] 02/7/2015 09:41

Management is very good here. Zeton need to bring the spanners and spark plugs down from Canada by the sounds of it

[caradog] 02/7/2015 09:41

Bad news, and difficult to quantify until we know the details. The timing of the announcement is immaterial in my view, the market had to be told ASAP.

[the shuffle man] 02/7/2015 09:22

This company seems to attract its fair share of bad luck.

Is this down to the management ?

[1gw] 02/7/2015 09:14

What an odd time to put out such a potentially sensitive RNS though. Was the story about to break?

[alanrussell] 02/7/2015 09:12

Ah, as soon as someone wishes out loud for good news from Canton ..............

[corrientes] 25/6/2015 12:36

Virtually any business related to commodities is going to do diddly squat until this dreadful bear market is over. There's a whole myriad of problems out there just now, sufficient to keep the permafrost well supplied for the foreseeable future IMO.

[luminoso] 23/6/2015 20:05

Here we go again. Good news from Canton badly needed.

[kattatogaru] 03/6/2015 07:04

Well done HYR, good news. Not expecting share price to soar just yet as we are still very much under the radar but this should be a turning point.