The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Lyn although BB did not appear to be fruitful in producing oil quantity ( for the masses) hence the SP decline, the data will be invaluable to all associated experts, it appears to be taking a long time to evaluate this data, hopefully that is for the good of all those involved, you and I included! Have a nice Sunday afternoon, regards 58...
Lyn the way I read the extension period is for the evaluation of the data only i.e. w are keepinng the site “open””until the data is re-evaluated, arch 2019. Hopefully before that permissionswilll be sought to progress further....
Appendix 1: Conditions and Informatives for WSCC/032/18/WC
CONDITIONS
TIME LIMITS
1. This permission shall be for a limited period only expiring on 31 March 2020, by which date the operations hereby permitted shall have ceased, all buildings, plant and machinery, including foundations, hard standings shall have been removed from the site, and the site shall be restored in accordance with the approved restoration scheme (ref. Well Site Restoration Layout Plan – KOGL-BB-PA-XX-09).
Reason: To secure the proper restoration of the site following the approved period for this temporary development.
APPROVED OPERATIONS PROGRAMME
2. Only Phase 4 - Restoration/retention is permitted under this approval. Phase 1 – Construction, Phase 2 - Mobilisation and Drilling and Phase 3 – Testing shall not be carried out or revised in the lifetime of this approval. For the avoidance of doubt, hydraulic fracturing (‘fracking’) is not permitted under this permission.
Doesn’t look as though we are going back to B.B. anytime soon reading the above statements. Lots more planning applications required prior to the end of the stated period if we do. Or am I wrong, happy to be corrected...
To stop those SP fluctuations causing you irritation simply place a piece of tape on your screen over the numbers after the decimal point, and hey presto no more meaningless ups and downs - you only see the important number move!
ps works on all share prices on all markets!.
IMO that is...
Wizard125 - to answer your question directed at me - I can’t answer about depletion, but with regards to the pump, if your pump is stroking at the same rate before and after change out, with the same stroke length. If the well bore pump previously had a draw of 100 galls and the new pump has a draw of 200 galls, I think it’s quite a safe bet that over an extended period i.e 96hrs more BOPD will have been produced under the same operating conditions, no?
The stroke of the pump is the same as the previously installed pump I.e. the hydraulic pump (the bit you can see). What was increased was the capacity of the pump down the well bore I.e. it has more volume thus can pump more BOPD, hence more flow. Please refer to all the chatter when the pump was changed out some time ago...