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Thanks for pointing that out Ocelot. I guess they'll just keep flowing the oil they have access to right now then keep the revenue flowing too.
I guess the directors could do more right now though... reduce salaries and buy some shares since there is no new news to report right now.
They also said this :
"Our office staff have also been adhering to best advice and practices, by working from home and communicating remotely using video conferencing technology which, fortunately, had been in active use within UKOG prior to the emergency.
As previously stated in this report, we have also begun to reduce our cost structure to meet the economic challenges of a low oil price world. We will continue to make prudent reductions in our operating expenditures."
Looking for the directors to step up and take action now... earn those bonuses like many have said and other company directors have done!
GLA
"it is just frustrating that they fail to update SH on any HH2 progress, has it cleaned up? is it still cleaning up? is it fcked? "
I suspect they really aren't certain -
it is just frustrating that they fail to update SH on any HH2 progress, has it cleaned up? is it still cleaning up? is it fcked? is HH1 producing more? standard poor comms from them.
Yes Ocelot, that's the latest position.
Some like to print news from previous RNS's to cloud the issue and create a drama.
If anyone hasn't noticed the plans are fluid due to virus.
Most people on shutdown, so hiring contractors/ getting parts is difficult, so best plan is to delay imo, EVEN though it's painful.
The situation at HH as of the RNS of 31/03:
At Horse Hill, we have adopted the policy of deploying essential staff only, all of whom are designated as "key workers" under the Government's emergency legislation. Strict hygiene and distancing practices are in place to ensure that production continues at Horse Hill whilst protecting our team's health. As the plan minimises external contractor visits to those essential for safety, regulation and crude export, the planned series of further well interventions have been put on temporary hold until the current emergency passes.
No news today, SS has gone away
He's taken all our dough
For a well that doesn't flow
No, you are again deliberately misinterpreting .
UKOG is like all companies shielding through this crisis.
Just like myself. Spend no money! Pay your bills , run everything on tickover.
Do essential maintainance.
The CPR needs to have integrity. 90 days solid production .. no breaks, no fudged figures...
penguins
I'll take that as a 'No' I don't know.
Saves wasted words!
Wizard,
apparently nothing requires an RNS - were you one of those that kept posting during the BB testing that only bad news requires an instant RNS which meant no RNS meant everything was fine - which was proved completely wrong
Perhaps you could rewrite without typos, or explain:- 'Actually penguins no it is where it on s at the moment.' vis-à-vis your previous post:- 'I don't know but it may be the flow test of HH2 may have been suspended as it may not be considered essential work.' - what would lead you to the conclusion that HH-2 might be suspended?
Actually penguins no it is where it on s at the moment.
I just wondered but maybe I should ask you as the expert.
If HH2 EWT was to be suspended would it require an RNS?
You're NOT your in the last line.
This is from the 9/3/20 RNS:
HH-2z clean-up operations are planned to continue over the coming week, after which essential maintenance and a planned upgrade of well test and production facilities will occur. These operations, designed primarily to enable simultaneous production from HH-1 and HH-2z, will require both HH-1 and HH-2z to be shut-in for a period of up to ten days.
Full extended well test operations with simultaneous multi-well production are planned to resume directly after the shut-in.
Your not the only one a bit confused, tkr234 - it would be useful to have an update!
Hi ocelot,does that marry in with the RNS 9/3/20 roughly 3 weeks earlier,could be me confused.
Wizard & Tony,
So having cleaned up the well the next thing they do, because there is no storage, is shut in the well - but they can continue producing HH-1 because it is 'essential' in this time of glut - and they can store that - I suppose the reason is the huge volumes that HH-2z will produce?
If something goes wrong the same applies to HH-1, so hardly a reason to shut in HH-2z as they need the money.
5. Looks like you two are worried that there aren't at least 4 tankers leaving the site every day so let's think up an excuse as to why.
We will (hopefully) find out soon enough what's going on - we don't actually know (or do you?) how many tankers are leaving the site so your excuses may not be needed.
It would appear to be suspended for a number of good reasons
1. There is a global pandemic, no one is traveling. I have enough fuel in my cars to travel to Sainsbury’s for 2 years.
2 Oil storage is full. If we produced a lot of oil it may get turned back. The CPR could be compromised
3. If we need any specilist parts or experts they may be in able to travel in a timely manner
4 Just to upset Adrian ...
One of these is not true :-)
Did we over pay? No, we paid the correct price on the day.
We should stop buying licence areas? No... if a bargain appears it should be given sensible consideration.
You need a god supply of assets in various states of production , development, planning and exploration to keep working. The issue is having too many needing high capital investment at the same time.
I am confident once the lockdown is relaxed we will resume a significant program of work
This is what SS stated in the Final Results RNS of 31/03:
The HH-2z well clean-up and EWT have been resumed following this successful intervention.
tkr234
I don't know but it may be the flow test of HH2 may have been suspended as it may not be considered essential work.
Needs to put any further aquasitions on hold,he has to get HH flowing to the tune that he has been boasting about for the last no of years,+++++++++++++ get BOD,s to buy some shares this week,to get this sp from ending up in the land of nowhere, cmon SS lots of us losing small fortunes here while your fortunes are increasing,all we are asking for is for you to keep some of your many promises,so lets see them tankers rolling,you have to do something mate to justify your salary.