Valeura Energy Inc T.VLE

3 Weeks NO news on Wassana restart

[firstworld]

Must be very serious cracking affecting more than one element.  An "expert team" of engineers would have a repair scope, time and price by now and work would be half done if it was just one element of the vessel cracking.

Wassana will be down for months.

[Eoj123]

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[moneysworth]

Guess there will always be a poor fool in some third world country who has difficulty understanding the English language. The latest company update said the engineering firm after their underwater inspection stated the issue was 'superficial". Defintion of superficial.... "existing or occurring at or on the surface". 

[Theonewhostocks]

Not to mention they literally said they would have a more in depth study completed near the end of July. If that second look proves that it is in fact a superficial crack, then production would begin immediately.

[Eoj123]

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[cyber37]

So, 5k of production is shut-in in Wassana (lost, because technically that can only be recovered at the end of reservoir life) but as an optimist I see that Nong Yao A is up about 4k & there is still more to come from that field….nice. Now, there is this crack in Wassana MOPU leg that stands on three & can’t not get by with just two legs; that must be sorted out soon. Yes it may be

[Kadiddelhopper]

Time to buy is NOW ?.. alrighty then... was looking for the signal, but the Vote of Confidence is more apt !

[firstworld]

Knowing the constant material fumbles at VLE and out right deception " non dilutive acquisition" only to be diluted 20% within 8 weeks I know to sell when going looks good because there's bound to be another material miss or screw up. I sold last 200K shares at 5.60-5.80. NYA might be up but for how long.  Seems like these guys are just trading dollars on step forward two

[firstworld]

Metal fatigue pretty much equates to scrap.  It's like a cancer.  Theresa reason oil tankers only have a service life of 20-25 years with no chance of reliable and economical rebuilds...just end of life. I believe VLE was well aware considering the initial refurb was months over due.  They were probably expecting 5-8 year service life from the refurb. They also have to know

[Suppe11]

You guys are all experts in reading eh ? They said it could be superficial and they'll take a l(second and deeper) ook at it at the end of July. They didn't say, their "study" is finished at the end of July. They said, IF it is superficial, the restart would be  "without delay". It's no water tap, which you can switch on and off, so a restart will take time too

[firstworld]

If it was super facial theyd know within days.  One mag particle test and once X-ray (RT) takes two days at most on the entire structural elements and 1 day at most to identify cracks and breaks. Another week to define how serious they are. Two weeks max u less extensive repairs and rebuild needed then it's weeks more to define scope and time. Most likely they identified lots of issues

[windymayor1]

Quess we'll know the status within the next few weeks.

[firstworld]

They said end of July ....let's see if they are late once again LOL.  Must be serious t run the schedule down to the last min and overtime...

[firstworld]

LOL thers is no such thing as superficial cracking.  It's not like you can grind out the crack and fill it with weld heat stressing the rest of the metal reducing it's strength by 50+% haha. As soon as they weld anything on or in the crack the surrounding steel is 50% weaker.....so you'll just get another crack in few weeks or months. If it was so minor why shut down.