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Iona Energy Inc. Message Board

  • smarter_of_moron_idiot_imbecile smarter_of_moron_idiot_imbecile Jun 26, 2013 1:25 PM Flag

    Another shuttle tanker filled (from OJ)

    Huntington cash flow...INA

    * at the end of the day this is what we want to see for INA....cash flow.

    * the third shuttle tanker lifting carrying an additional 200,000 barrels (gross) of Huntington oil getting ready to head to port. That will be 600,000 barrels delivered by Huntington since field start up.

    * the reservoid has performed better than originally forecast (as per the FDP submission) and while the full fueld production is still a few days away (sigh) the size of the field is such that we will be a cash flow monster in the near term.

    * within weeks, once the bond deal closes and we have full field production from our two assets, INA could have YOY capital to spend of over $335 mm. Not bad when you consider it will all be directed towards development projects.

    * let the games continue....if you are a longer term holder picture like below will only grow in frequency and so too will the value of your INA holdings.


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    • If I am not mistaken this has added over 10 million to Iona coffers

    • smarter_of_moron_idiot_imbecile smarter_of_moron_idiot_imbecile Jun 27, 2013 3:16 AM Flag

      Third tanker load is heading to market in Oslo, Norway not UK/Scotland.

      From OJ:

      Re: Huntington cash flow...INA

      * the most important thing now is for INA to continue to build on its production and cash flow base at Huntington and Trent / Tyne.

      * the bond deal closing next week will be a boon for the company in the medium term but in the shorter term hitting 7,500 to 8,000 boe/d for INA is the most important milestone.

      * the company is currently capexing very little and as you can see from the below graphic it has now delivered 600,000 barrels (gross) of Huntington oil to market. This tanker load is going to Oslo (area) Norway.

      * by the end of next week the field will have produced at least 700,000 barrels of oil and we hope that it will be at max plateau production of 30,000 bpd.

      * cash flow is king and INA is now building its case.


    • smarter_of_moron_idiot_imbecile smarter_of_moron_idiot_imbecile Jun 26, 2013 1:53 PM Flag

      Go to Oil and Gas Discussion board on IV, the cool thing about OJ's post is he captured the tanker on the marine tracking site and even posted a picture of it! It is the "GIJON KNUTSON" and its on the way to market.

      Knutson is the company operating the shuttle tankers, second largest fleet worldwide. Teekay, the owner of the FPSO, also operates a fleet of shuttle tankers but I guess they use what ever tankers are available.

    • Smarter, does the timing on the third tanker heading to port now, fit with the increased production expectations?

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