Posted by Mabel > 2023-06-08 08:47 | Report Abuse

Mikecyc Haha Kon Mabell .. During debating with Kon Moneykj in Kanger .. they will used many aka id to Flag report ( same as yr aka id team 7 Dream_xxx , and 13 aka id lead by FortuneBlooming n Coolbull, all 21 aka id are disappeared after TG case ) to silent Opposite views , and created similar aka id with number.. eg Johnchew3 to post :

Haha had posted at least Twice in TG to use Haha n Hoho to debate with Kon Mabell, Ularsawa n the 21 aka id .

Haha n Hoho also posted in Netx , TDM , Hiaptek n HRC .

So far noticed Admin had done a Great n Fair actions on :

1) cannot create aka id with continual number , such as Johnchew3 , Johnchew4 .

2) Earlier those being flag report until post removed need to wait several hours to 24 hours to re access to post , Now no more waiting hours .

3) Aka id cannot do flag report anymore.

Cheers …
08/06/2023 7:27 AM

Haha Mabel still remember that Haha and Hoho in TG and TDM..

Cheers!

Posted by MM78 > 2023-06-08 08:49 | Report Abuse

Thanks Mabel for exposing this nonsense Mickey Mouse was under another name of John Chew. ( “ John Chew” antagonised too many others then with the same non sensible postings. ) Just beware of anyone who needs to keep changing name to hide his unpopularity for speaking nonsense in any forum as less and less participants would heed what he has to say eventually.

Posted by KML889 > 2023-06-08 08:58 | Report Abuse

For me, just skip if noticed non sensible personal attacks or senseless rethoric. Not worthy the time. V after Money and not Saliva

Posted by Mabel > 2023-06-08 09:09 | Report Abuse

Haha Armada is looking Great Now..

HOT MONEY is cuming Back?

Meow Meow Meow

Posted by KML889 > 2023-06-08 09:09 | Report Abuse

Restart Restart Restart otw

Posted by KML889 > 2023-06-08 09:10 | Report Abuse

Ayoh, BA. Not this way, not by Transformers

Posted by Zhuge_Liang > 2023-06-08 09:15 | Report Abuse

Those want to sell already sold, hopefully the worst is over for this stock.
Hope the share price can cross 200-day sma again at 0.52 soon.

Posted by Bon888 > 2023-06-08 09:17 | Report Abuse

EnQuest`s management said in the EnQuest AGM issue will be resolved within this week.

Posted by KML889 > 2023-06-08 09:19 | Report Abuse

Yup, that's what Ian said at the AGM. Cranking work in progress, I hope

Posted by Russel > 2023-06-08 09:32 | Report Abuse

Glad to see lots of constructive feedback and comments here...

Posted by sense maker > 2023-06-08 09:32 | Report Abuse

That the issue arose even before AGM and till now remains unresolved is bad. It’s normal to stop for 2-3 weeks due to unexpected production outage and to bring forward future maintenance work in that period. This normally doesn’t entail bursa announcement.
Now we know this issue will b around for a while as alternative solutions, which may compromise output, are being considered. Management is looking at weeks of shut-in. It’s safe to assume loss of revenue for 2 months and some capex. All-in, if the final damage comes within RM300m, it’s a blessing enough.

Posted by Mikecyc > 2023-06-08 09:42 |

Post removed.Why?

Posted by Mikecyc > 2023-06-08 09:43 |

Post removed.Why?

Posted by Mikecyc > 2023-06-08 10:01 |

Post removed.Why?

Posted by limitup4u > 2023-06-08 10:01 | Report Abuse

losing steam already

Posted by ValueInvestor888 > 2023-06-08 10:12 | Report Abuse

those who interested have to buy have to prepare to hold for some time. Operators will not push up for those want to make quick contra traders last 2 days lah...

Posted by OrlandoOilSemiconIoT > 2023-06-08 10:17 | Report Abuse

FPSOs are complex offshore facilities used in the oil and gas industry for the production, storage, and transfer of hydrocarbons. Due to their high capital investment and exposure to various risks, it is common for companies operating FPSOs to obtain insurance coverage to protect against potential losses or liabilities.

There are several types of insurance policies that can cover FPSO operations, including:

Posted by RISK8888 > 2023-06-08 10:23 | Report Abuse

Not good not good, no rebound. Means another red day.

Posted by Ravi Kumar > 2023-06-08 10:28 | Report Abuse

Mikecyc why post old story? By the way EnQuest shares doing good.

Posted by Vicky > 2023-06-08 10:33 | Report Abuse

Kraken destroyed by Medusa. Run !

Posted by Robert Waters > 2023-06-08 10:42 | Report Abuse

LM, short info,

Shut in means that the wells are closed.
Shut down means that the toposide FPSO systems are not in operation.

During shut ins all the topside systems can still operate in some minimum mode by recirculating the hydrocarbons. That way, re - introducing hydrocarbons is easy.

Hot start up is when you restart equipment right after the trip, with all systems still under pressure and temperature. Cold start up is from scratch, usually after maintenance. Those terms are NO LONGER used as cold LNG complicates things.

There are 2 possible scenarios now:
1. They may have isolated one train, still operating in recirculation on train B for quick re-start after trip.
2. They did full plant wide shutdown for the ease of maintenance. Then you can do group isolation and service all equipment without worry about hydrocarbons kit by kit. So they could do a lot of maintenance during full shut down However, for that you may need full specialized crew of dozens of people and a lot of planning is required.

Hope not too much info.

Posted by myongcc5 > 2023-06-08 10:54 | Report Abuse

Tqvm Robert

Posted by LubeTrader > 2023-06-08 11:21 | Report Abuse

Of all the comments I've read so far since the news broke, Robert's the most informative.

Posted by LubeTrader > 2023-06-08 11:22 | Report Abuse

So Robert based on your experience is the IB analysts estimate of 3 to 6 months downtime reasonable?

Posted by limitup4u > 2023-06-08 11:35 | Report Abuse

the selling pressure has subside compare to last 2 days.

Posted by MM78 > 2023-06-08 12:02 | Report Abuse

Robert, thanks for your good information sharing and I find it succinct enough but not too complicated for me so far.

Posted by ageetkumar > 2023-06-08 12:04 | Report Abuse

Some speculation based on what information is available so far from public sources which talked about the outage of a transformer for a hydraulic submersible pump. I am not familiar with Kraken design, but based on what I know there can be two possibilities. Hydraulic submersible pumps used for offloading is one. In this case the production can continue until tank top which will happen in a matter of a couple of weeks after the outage depending on the production rate. Another possibility is well submersible pumps which are typically electric but could be hydraulic as well, in which case the hydraulic pressurisation unit with accumulators will located on the FPSO and hydraulic lines are through an umblical to the subsea tree. If transformer for the hydraulic system is damaged then the entire production shuts down, of course we can keep the FPSO production system on a warm standby through recirculation. But if you are doing any maintenance it will be shut down for safety reasons. In any case offshore replacement of a transformer is a head ache even if you can find one on short notice. (typically these are custom made and have long lead times of a few months depending on size). So an outage of a 2 - 3 months looks possible and reasonable

Posted by Robert Waters > 2023-06-08 12:17 | Report Abuse

Based on my experience and a lot of reading around I believe that:
1. There is NO Shutdown of facility. Only shut in. That is per BAB anouncement. They cannot do much maintenance without advance time notification of so called turnaround contractors (TAR). This unplanned maintenance job is sugarcoating and PR thing. In the end they have no spares, crews, plans, etc.
2. They have 2 other healthy transformers used for VSD (variable speed drives). They can be used for the HSP pumps for introduction of hydrocarbons from wells. Will not be full production to be safe for a while.
3. Transformers that failed are being repaired. Parts or spare transformers are under way from Esberg, Denmark. This is by marine traffic systems. Transformer is a simple and common equipment, and you can use similar if needed in reduced mode. They can risk manage it. Like smaller transformer but more protection, etc. There is a process of Risk Assessment, can be done in 2-3 days.

My bet is that it will be over within a month. Production decreased. Impact on earnings minmal. Cost also minimal. Transformer is in 100k 's of dollar. They can even get used. Most damage is due to lost confidence and bad info management. Financig cost may go up, clients may be concerned. Reputation lost is worth dollars.

Posted by KML889 > 2023-06-08 12:23 | Report Abuse

Thanks Robert and Ageetkumar for the explicit yet easy to understand narrative. Thank you

Posted by Robert Waters > 2023-06-08 12:35 | Report Abuse

Kumar, I thought initially these were pumps for moving liquid in tanks, but that would be shutdown. As they say, SHUT IN, we have situation with downhole pumps which are in the wells. Shut in is for wells. Now, EnQuest is involved as I believe they own these pumps.
Only last year I worked with HSP pumps inside the tanks for export, stripping, maintenance and transfer I realized they were simple as no motor. I thought initially they were broke in our debacle. They can be easily changed. FPSO has a spare on board. Nobody would report it.
Now I realize it is NOT the case. Downhole pump situation makes it more difficult. But it is just transformer, not the pump.

Posted by KML889 > 2023-06-08 13:30 | Report Abuse

Unplanned downtime is somewhat mitigated with planned or scheduled maintenance. Hope both downtimes contra off each other and brings the business impact to minimum. My hunge is BA will make an announcement real soon today or tomorrow judging from the market recovery mode

Posted by sense maker > 2023-06-08 13:51 | Report Abuse

It’s a matter of weeks.

Posted by LubeTrader > 2023-06-08 14:18 | Report Abuse

Glad to see these constructive and healthy inputs. Finally see some degree of sanity in this forum. What we need is a clear roadmap to recovery. Learn from mistakes and have contingencies.

Posted by Mikecyc > 2023-06-08 14:31 |

Post removed.Why?

Posted by drsoo1 > 2023-06-08 14:32 | Report Abuse

I am not surprise break down such as this happen...that's the price you pay when you always go for the cheapest price equipment and systems.

Posted by drsoo1 > 2023-06-08 14:37 | Report Abuse

So I doubt they learn from mistakes or invest in contingencies...maximize profitability is what they will go for. Expect more of this kind of costly breakdown or worst blow-up especially from the bottom end players in the industry.

Posted by Bon888 > 2023-06-08 14:38 | Report Abuse

Is true that unplanned maintenance just a PR sugarcoating. Parts and contractors arrangement required some lead time. Major maintenance at offshore facility required a lot of planning and coordination.

Posted by Mikecyc > 2023-06-08 14:41 |

Post removed.Why?

Posted by ValueInvestor888 > 2023-06-08 14:53 | Report Abuse

Bumi mgt needs to shed more light on this matter in order to restore confidence as soon as possible.

Posted by Mikecyc > 2023-06-08 14:54 |

Post removed.Why?

Posted by drsoo1 > 2023-06-08 14:55 | Report Abuse

During the oil price slump couple of years back...many could have opted the "burndown" design philosophy in their brown field upgrades or new plant. Probably with minimal or no insurance coverage?

Posted by Mikecyc > 2023-06-08 14:57 |

Post removed.Why?

Posted by ValueInvestor888 > 2023-06-08 15:01 | Report Abuse

The current shut-in and future reduced level of production, means that BBC revenue earned by AKPL will be reduced. Given the current uncertainties, the financial impact of this incident cannot be reliably estimated at this point, but is expected to be material for Bumi Armada.

Materials mean more than 10% of the profit...

Posted by ValueInvestor888 > 2023-06-08 15:03 | Report Abuse

share price drops more than 30%...Mgt needs to shed more light as soon as possible...

Posted by RISK8888 > 2023-06-08 15:35 | Report Abuse

Look like price stable as for now. Rebound won’t be a lot, but if falling, lot more to go.

Posted by OrlandoOilSemiconIoT > 2023-06-08 15:49 | Report Abuse

If no insurance policies taken to cover all the potential risks.. SC and BURSA must censor even impose maximum penalty on Armada management for its abject failure in risks management

Posted by ageetkumar > 2023-06-08 16:02 | Report Abuse

Thanks @Robert Waters for clarifying that they are talking about the downhole pump. Just curious, do you by any chance know what type of transformer it is? Is it Oil filled or dry type? Dry types are a lot more difficult to find readily, I think

Posted by Ravi Kumar > 2023-06-08 16:41 | Report Abuse

ha3 laugh me die la

Posted by Robert Waters > 2023-06-08 16:50 | Report Abuse

No idea what type of transformer. Such info not available in public domain. I read somewhere it was oil filled, but in a comment, not document. No matter what type, it can be procured. Yes, the vendor will tell you that there is a queue of 6 months. But if you ask him to call warehouses, brokers, partners, colleagues to find you one, he will. Worked for me. Sure you have to offer him something. Like ensure his previous outstanding bill is paid, or that he sends 3 people to your site with the kit for 1 week to install it. This will be done by phone, so that there is no email trail of sensitive issues :-) when you say, buddly, I really need this kit, help me out .... and he will.
I am now very diligently trying to get info about restarting, and hope it goes ahead. But I need to stop it. I am NOT being paid for work on this project. It is just investment for me. I want to get out of it.

Posted by Zhuge_Liang > 2023-06-08 16:55 | Report Abuse

Those want to sell already sold, hopefully the worst is over for this stock.
Hope the share price can cross 200-day sma again at 0.52 soon.