Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Three tankers today.
£30,000+ more in the kitty, towards costs.
Not long till HH2z rectification and even more oil flowing and more cash.
Plus of course some more cash from Ukog's share of another oilfield, Horndean.
Bazy, many of the trolls are those steeped in bitterness and envy due to their huge losses on HUR. It collapsed around a £1billion in just a few months. So much for their expertise and investing advice.
Stanley gets his from Ollie, which is why he is in such a fine mess.
Ibug, wrong again. Maintaining your 100% record of being wrong.
Read the RNS again and try to understand it.
You learnt tonight that there is a difference between fractures and perforations, and hopefully you understand what that difference is, but I am not holding out that much hope as you are not the sharpest tool in the box.
Ibug you are really embarrassing yourself now. Fractures are cracks within the formation and in the case of the Kimmeridge are extensive and have formed naturally. Perforations are made through the casing of the well bore to allow a passage for oil to flow from the formation through the casing into the well.
See how silly you look now.
Stanley, again you show why you have got yourself into such a fine mess with your investments. You need to pay some attention to details and facts. You could also point this out to Ollie.
You may have not noticed but there have been at least 407 oil tankers at HH. What ever the reasons there were none at Broadford Bridge. That is a major difference.
Ibug, Facts are not your strong point and as usual you are wrong again. As you can now see below your accusation of my maths ability was also wrong.
The EWTs has continued since the 16th Jan 2019 and the Kimmeridge reservoir details were updated via RNS on the 28th June 2019.
Kimmeridge oil reservoir is a vertical zone of 200M, not 109m.
Also Ibug there is no need to perforate the interval between KL4 and KL2 as the whole length is extensively naturally fractured which is why the oil is flowing from both the limestone and the shale layers.
RNS Number : 7440D
UK Oil & Gas PLC
28 June 2019
"We also tested the deeper naturally fractured Kimmeridge Limestone 3 ("KL3") and KL4 oil pool, which during its initial 50-hour period produced 563 to 771 bopd from the single KL3 perforated zone alone. The 40-41° API crude oil flowed continuously to the surface with zero water content. The test data confirmed that the Kimmeridge oil pool produces from one single vertically-connected 600ft (200m) or more naturally fractured zone, extending from the deeper KL2 to at least the top of the KL4 zone. Oil production is interpreted to come from both naturally fractured limestones and calcareous shales, which is an unexpected learning."
So far Ibug you have been completely wrong on the number of Tankers, the amount of oil produced, and the Kimmeridge Resevoir size.
Not much else left considering this is an oil company.
As per the RNS 19th Jan 2019 there had been 114 Tankers from HH.
There has now been 407 known tankers.
So 293 tankers over 56 weeks.
An average of 23 tankers per month or between 5 and 6 per week.
Allowing for down time there will have been days, or even some weeks, without any tankers. So there must have been many days when two and three tankers left HH.
HH1 can at present produce oil from three separate levels in two different reservoirs. The lower two levels in the Kimmeridge have been proved by the EWT to be connected by extensive natural fractures creating over a 200m vertical oil zone producing from both the limestone and shales. Greatly increasing the amount of recoverable oil potential.
Roganjt, it must of been your photo of that tanker that I saw originally I think on FOTH twitter. Then on Wealdoilers as well.
You did well.
Trolls hate support for facts that disprove their false claims. It makes their deramping agenda so much more difficult.
Remember the recent attempt to pretend there was no cage on site for HH1. Same culprits on here today trying to get away with more false and misleading posts.
Stanley, your 14.17 post explains clearly why your investing history is so poor. You need to give Mr Hardy the boot and get your financial advice elsewhere. It could not be worse than Ollie's to date.
Ibug, Another assumption as to how many oil tankers there were each day. Not all are seen by those on twitter. Remember how wrong you were on the tanker count very recently.
I had posted that there could have been around 400 tankers at that time, you strongly denied it claiming only maximum of 370 and you spouted a low total for oil production.
RNS almost immediately confirmed 400 tankers had left HH and far more oil than your "calculations" and "assumptions" had led you to claim.
Your track record with your assumptions is not very good. About similar to Stanley's investing history.
Some days there have been two tankers.
At 290+ bopd the extra that can not be contained in a single tanker can be left in the on site storage tanks and collected at a later date. Good planning and economics.
Ukog are not paying for a rig etc.everyday of the year. Just when required. When there is next to no on site activity the day to day costs will be low in comparison to say, days during active drilling.
On the other days the money from the oil so!d builds up and is then used towards costs when they occur. So the income over two months with little activity, approx £800,000 will be accumulating and used towards the costs when there is major works. Such as this coming week.