Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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AIM is corrupt but this company needs investigating by the Serious Fraud Squad. A good look into SS and the rest of Board’s private bank & email accounts. Find out why market sensitive information was and still is being kept from shareholders. The untruths in RNS to date, the constant dilution for absolute rubbish. From the BB duster to this Turkey nonsense plus the massive Bonuses to date.
I did say good reason.
Dual completion would require the completion just put in being removed and completely replaced with a new completion with 2 ESPs. So the workover just done would be a costly waste of money, and two to three weeks of production. Portland production being poor or some sort of pretense to raise funds isn't in that context a 'good' reason - but then this is UKOG!
Perhaps it's my expectation that when something stops being mentioned in RNS (where a good ramp wouldn't go amiss) it isn't going to happen.
HH1AN2
if what is written on this board really affected the SP then why isn't it 10p? or is it that the so called 'swampy's' etc. are just posters that understand what is going on better than the 8p by Xmas brigade.
Better try the 'we're not there all day so there might be 3 or 4 gambit' rather than the IDK whether it was waste or not.
Penguins, I can think of 2 very valid reasons for HH1 dual completion.
First reason; Portland production rates prove poor, requiring that Kim be turned on to provide the extra boost needed for HH to bean asset worth keeping. Kim may not provide a huge boost, but even a small one of 25 bopd could be sufficient to make the HH site profitable as a stand alone asset. If Portland is only producing 200 bopd, and dropping, then having Kim give up a little extra may be necessary. Lots of questions as to whether the dual completion would be worth the costs. Any idea of costs?
Second reason; because Silent Steve will need to raise more funds for Turkey, and his favourite trick is to do some minor work at HH to generate some interest to get a placing away. If I were an II looking at making some $$$ from a placing, then I would want Silent Steve to give me some backing. I bet a dollar to a dime that the II placings have been done through some shady under-table dealings, with Silent Steve giving them the inside track on when news will drop.
Can you think of any reasons apart from the above, do they seem logical?
Apologies,
The posts didn't show as posted - and now they are.......
Cynderlad,
Can you think of a good reason why they would dual complete HH-1 any time soon when they have just had a workover of HH-1 using a rig?
The same goes for wizard thinking that UKOG having just bought production equipment sufficient for the current set up for £1.65mm (with jjst £1.1mm to pay, probably in shares) would embark on the 'planned' development. After HH-2z Portland mishaps and the very apparent not dual completing HH-1 in the Kimmeridge what would they use the extra 4 wells to develop.
It's all very well posting about what the plan for HH was prior to HH-2z and the Kimmeridge ewt (4 when the planning application was put together with 4 Kimmeridge wells), but like installing a production completion in BB-1 before testing the well, and then having to remove it, sometimes plans don't work out.
Cynderlad,
Can you think of a good reason why they would dual complete HH-1 any time soon when they have just had a workover of HH-1 using a rig?
The same goes for wizard thinking that UKOG having just bought production equipment sufficient for the current set up for £1.65mm (with jjst £1.1mm to pay, probably in shares) would embark on the 'planned' development. After HH-2z Portland mishaps and the very apparent not dual completing HH-1 in the Kimmeridge what would they use the extra 4 wells to develop.
It's all very well posting about what the plan for HH was prior to HH-2z and the Kimmeridge ewt (4 when the planning application was put together with 4 Kimmeridge wells), but like installing a production completion in BB-1 before testing the well, and then having to remove it, sometimes plans don't work out.
Cynderlad,
Can you think of a good reason why they would dual complete HH-1 any time soon when they have just had a workover of HH-1 using a rig?
The same goes for wizard thinking that UKOG having just bought production equipment sufficient for the current set up for £1.65mm (with jjst £1.1mm to pay, probably in shares) would embark on the 'planned' development. After HH-2z Portland mishaps and the very apparent not dual completing HH-1 in the Kimmeridge what would they use the extra 4 wells to develop.
It's all very well posting about what the plan for HH was prior to HH-2z and the Kimmeridge ewt (4 when the planning application was put together with 4 Kimmeridge wells), but like installing a production completion in BB-1 before testing the well, and then having to remove it, sometimes plans don't work out.
In accommodating the rig onsite at HH, I'm sure that UKOG will receive a slight rebate on rig costs. Maybe a small figure in the order of £500 per day for such a service. It'll be small potatoes compared to the daily rate for the rig. But UKOG will not be paying a penny for a rig not being used; unless they have booked it for that period and have an issue delaying its use on HH2z (which I do not see as being the case).
Still waiting on silent Steve for the RNS and a proper update on Portland, and a schedule of works for dual completion to flow from the Kim too. Also waiting for the plans/schedule for HH2z. Although I do think that Turkey will be drilled before we see anything happen to HH2z.
P W Well Services quite often leave / store equipment on Horsehill site.
The charges will of stopped as soon as the rig was taken down.
So what are your thoughts of why the rig remains on site at a daily cost of £?,000?
The items mentioned are in the Planning Application for full production facilities.
Ibug
Was that RNS covering equipment to bring HH into long term production.
Could this be part of long lead time.
Best to read the RNS before thinking! All you are doing is muddying the already stirred up waters
"Outright purchase of key surface facilities (e.g. stock tanks, oil and gas separator, flow lines, choke manifolds, export pumps etc.)"
Now that the HH1 workover has been done & the rig remains on site I find myself asking myself.
Has UKOG bought itself a work over rig as part of the equipment purchases from the placings?
If it has it would help push future workovers though without the delays & costs of hiring & waiting for a workover rig to become available for future developments at HH & beyond and as for Penguins claims. I can not see money raised twice with placings with purchases like if it has been purchased.
Never mind the clowns comments!