George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Dr T. beliefs, integrity, and the fundamentals of the company are what attracted me to HUR.
AIM companies have their fair share of snake oil salesmen running them, as I'm sure everyone is aware.
My views over the last few years haven't changed so I will put my trust in Dr T. rather than the carp the resident derampers are spouting.
I'm sure any perched water can be handled by centrifuges.
Hopefully you'll be back Biffa once things have been settled one way or the other. Always enjoyed and appreciated your input.
ATB
'I'm out of here as can no longer be bothered to post given the toxic nature of this board. It's a shame as it used to be a great place to exchange information and views.'
Sorry to see you go, Biffa.
I left the SOU BB for similar reasons.
The CEO there - whom I wouldn't in any way compare with RT - was routinely called 'The Failure,' and a crook and liar, and reportedly received death threats.
The lunatics definitely took over the asylum there.
The share price has fallen by about 98 percent and posters are entitled to feel aggrieved, but paranoia took over and even with the shares at a discount of 80 percent to NAV, many posters have actually given up.
There is no comparison with HUR, except for many posters' readiness to believe the worst.
OGA not OGS
Thanks DC
johnpwh
Somebody here or on ADVFN posted a link to the OGS site. I don't have time to look for it now but if you find it you can work out the water cut. Figures are from start through to September and at no time has it exceeded 8%. I can't be sure but I think it was dspp who mentioned 16%. Suggest you read back through his posts.
Peeps talking of a higher water cut from Lancaster are insinuating that they have privileged info, short and sweet. Whether they have or not remains to be seen.
All waiting for Dr.T
Chablard
I didn't ask for inside information. I asked whether there has been (public) information released recently to support the massive amount of gloom that has suddenly pervaded this and other boards, because if there has been I may have missed it. All I was asking was for help in that instance.
I think he’s just questioning how posted came to the figure of 16% rather than 8 or 4. Not sure he’s requesting inside info.
Johnpwh
Not really sure what you're expecting here regarding inside info.
If anybody has been told anything from the BW office they are certainly not gunna say here on an open board.
Just like there were private conversations before the WD result.
ATB
Not understanding the maths here. And I've got 2 degrees in the subject.
If we assume equal production is obtained from two wells, the product then aggregated into a single accumulation.
If Well 1 produces with 8% water and the Well 2 is 0% then the aggregated 'pool' is 4%.
If Well 1 produces with 16% water and the Well 2 is 0% then the aggregated 'pool' is 8%
If Well 1 produces with 8% water and the Well 2 is 8% then the aggregated 'pool' is again 8%, not 16%.
If there is 16% in the 'pooled' oil then there is a problem I would have thought - hence my earlier question before I buy more HUR shares from my earnings as a geriatric rent boy.
Has there been any actual data from any source on water production in the last 3 months or is this all mischief making by deramping rogues?
16% aggregated to 8% between the two wells is nothing and if perched water as I believe it to be is of no concern whatsoever once confirmed presumably in the next few days. There are wells that produce 80% water that are still viable so 16% if confirmed is negligible compared to the oil and revenue.
Be prepared for a saturation % that isn’t ZERO and don’t be panicked would be my advice such as it is.
Biffa,
Would also been useful to have included the last paragraph from the Sept20th interim report as I have on at least 2 occassions.
ie, Now that both flowlines are in operation again, we can see that production from the -6 well continues to be of dry oil.
Given the proximity of the wells and strong interference between them, this is supportive of a stranded pocket of water being intersected by the -7Z well.
Hurricane’s analysis suggests that current production is only coming from a relatively short section of the borehole in the vicinity of the heel in each well.
Over time, fractures further along each well bore are expected to contribute to production, reducing the impact of any individual water-bearing fracture.'
Correction: 8% average water cut across the two wells (not 16% as stated).
My belief is that one well is a dry oil well and the other has been producing a 16% water cut but that is only my opinion.
Perched or stranded water will vary throughout the life cycle of the EPS by its very nature. Stranded pockets of water randomly dotted around the FB reservoir.
Apologies for the misleading 16% total water cut figure.
Now I am really out of this mad house.
GLA.
Cebo
I very much doubt that EV is actually an investor in any shares.
I am a frequent though not constant visitor to this board (hence being a tad behind the curve, I haven't the time to read hundreds of posts). I have held a reasonably substantial holding for as log as my withered brain can recall. I do think that this board has become a not particularly attractive place to visit of recent days/weeks due to all the sniping and name calling.
Can everyone call a truce please, if only because its the season of sodding goodwill to all chaps/chapesses?
EV, your credibility went on this board when you started slating Hurricane to buy into I3e before it went belly up, you then did the same with Tullow just before it dropped 60-70%. My only concern with Hurricane would be if you decided to put whatever you have left from I3e and Tlw back into Hurricane, given your share picking record.
Real figures, out of date, what are you on EV?
Are you suggesting the company is lying to us and the OGA? And further suggesting that they have a known problem which they have not announced to the market against the commitments they made previously...and that they will have to eat their words about coning previously stated?
I think the more likely explanation is that the water cut fluctuates a bit, as expected in a young well while testing different flow rates, and there is nothing to worry about.
I guess some people like conspiracy theories...although in fairness sometimes they're true and sometimes companies lies to investors. However, if you think that you should be out of here rather than trying to play the good Samaritan. All in all it suggests you have an agenda to be negative on this share.
EV. Biffadog has listened, then clearly he has arrived at the conclusion outlined in his summary
My biggest concern is not the oil but the joy which you clearly derive from causing others worry over hard earned money.
I just hope you don’t have or don’t plan to have children. What a terrible upbringing they’d have.
Biffa
I am behind the curve here, where has this 16% figure come from? Can you provide a link?
I am/was/maybe thinking of taking advantage of the current SP but don't want to wander to my doom blindfolded.
Ta
Biffadog
Couldn't agree more. As to:
"The level of misleading information on here of late and the constant slamming of this share by the likes of bartlebobton, EV, TDG is obscene."
The question that really needs answering is whose or what agenda are they serving? Any detectives out there?
Morning All,
Seeing as the onslaught of negative posts has subsided somewhat, now would seem as good a time as any to put the coned water (water produced from the aquifer as opposed to perched or stranded water) rumour started by dspp to bed once and for all.
I know he's a messiah to many on here but that doesn't mean everything he posts is the bloody gospel. I've noticed more than a few errors or false assumptions in his previous posts over the years. How many of you have even met the guy ?
Firstly, his workings on percentage of water cut were plain wrong and misleading.
He took volume of water and divided by volume of oil to give a percentage of total water cut.
Wrong. The correct figure comes from dividing volume of water by the sum of volume of water and oil.
dspp used the latest OGA figures and did not have any additional information to base his theory. These figures show that the average water cut was around 16% across two wells but did not give any insight into the source of the water or the split between the two wells, so absolutely no base for the coned water theory.
Why everybody is doubting the following statement from HUR issued as part of the 20th September Half Year Results, I do not know.
"We have gone to great lengths to explain why we do not expect to see coned aquifer water during the lifetime of the EPS, under our base case. This is our continuing expectation. The perched, or stranded, water we have experienced is consistent with our reservoir model and since our capital markets day presentation this interpretation has been reinforced by the Company's technical work. Notwithstanding the increase in aggregate perched water production to a sustained rate of approximately 7.5%, water cut remains within expected ranges and is not impacting oil production levels or the cost of production."
In addition, HUR have categorically stated that if there was a significant change to the performance of the EPS (aquifer water break through would certainly be classified as significant) they would issue an RNS. No RNS has been forthcoming.
I look forward to seeing dspp and the many others that have been actively promoting the water coning propaganda with egg on their faces very shortly.
The level of misleading information on here of late and the constant slamming of this share by the likes of bartlebobton, EV, TDG is obscene.
Having said that it's down to the individual to decide whether HUR is finished as a company, as these posters would have you believe.
I'm out of here as can no longer be bothered to post given the toxic nature of this board. It's a shame as it used to be a great place to exchange information and views.
GLA.
bartlebobton
"Just a reminder, it also took a hit on;"
Would you also remind us as to when you sold out.
BB, of course it did and rightly so, so not sure what your point is to be honest.
For me, just the 6 year EPS alone more than underpins the Share price here and all the scaremongering is not going to change that in anyway, so fill your boots.
Just a reminder, it also took a hit on;
1. WD results
2. Kerogen reducing their holding