As HHR motors along towards FID the two biggest steps left would have to be FDP approval and finance/divestment. I had thought that FDP approval would trigger finance/divestment announcement and in turn FID. (like a row of dominos FDP/Finance/FID...bang bang bags!!)
However if you listen to Chris Lewis and Rishi Sunak FDP approval could be imminent.
HHR have a "high level of interaction with the market regulator and this project is 1 of 3 priority projects to be approved". Chris Lewis RUI Conference Sept
“I think the UK should focus on the North Sea because we’re going to take every last drop. I mean, we need oil and gas for decades to come." Rishi Sunak The Scotsman 28 Sept.
So it could still be that FDP approval triggers finance and FID and it all still rolls out together. However another scenario is that FDP approval accelerates on the back of all this co-operation and is announced first.
So if the approval comes first will the SP get a lift? More specifically a lift beyond the current 2.2-2.9 channel @aero39 has documented. IMO it should purely because the project is then ready to go even whether its with HHR or another party acquiring it.
Whichever way it goes it is all going to start happening quickly now. Just wondering which domino will topple first.
HHR Price at posting:
2.6¢ Sentiment: Hold Disclosure: Held
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