Member Info for Bubblepoint

Your welcome Odins,

Just to be clear from my side, I am not and have never been against the general SLBY concept and tertiary recovery development to extract the remaining resource, far from it, what I am totally against is how they have successfully undermined its worth to their gain and retails detriment, it will never actually prove any upside for retail going forward, simply because it will take most of anything to carry out the level of works needed, and more will be needed for the duration of the fields remaining life.

It will keep "their" pay packets coming in and the lights on, but that's about as much as it will ever deliver going forward. Even the storage blurb is 6 of 1 and half a dozen of the other, you either keep production until the last field breath, in which case they could string it out for a few years to come, or they end production before they strip out the baseline needed for storage and you lose it as a production asset, that along with a long rehash of the field and surface plant to even come close to utilizing it for such storage purpose. A can that is barely worth even kickin down the road.

The CPR confirms production at these rates mean they can produce for 20 years plus - the Booster Compressor makes this possible at low well head pressures.

Thomas,

The "booster" compressor is ONLY to provide an initial boost to the surface flowing gas once it drops below the primary compressor thresholds, the booster simply primes the flowing gas to above that minimum input threshold for the main compressor/s.

It is NOT rocket science, ALL these plans they have are just typical for tertiary recovery methods from very old, very depleted reservoirs. nowt new to see here..............

Thomas,

firstly 1. just because the wells are producing condensate, does not mean they have issues with wellbore pressure. Many wells, including the wells at Saltfleetby, produced liquids right from the start at “virgin” pressures.

Thomas, the condensate is not a result of liquids naturally existing in the reservoir, the condensates & some water is a DIRECT result of production at or below dew point, something that has been in ever increasing problem going back before angus when they were pumping everything to Theddlethorpe.

The condensate/liquids are a direct result of dipping below dew point and INDUCING condensates in the near wellbore reservoir and the wellbore itself.

2. Opening new wells won’t necessarily lower the wellbore pressure on the other wells as they are not connected. Any new wells will also be at virgin pressure so would positively impact production.

IF that were to be the case Thomas, then it ONLY demonstrates very poor reservoir connectivity, which also means it would take a great deal more effort and wells to drain the reservoir to a level they hope for. Your hope of "new" untapped pressure is flawed for this reason.

""From what I see on the books there is no downside from these levels anyway so worth the punt for a easy double rise anyway""

What on the BOOKS ?? there is a grand total of 7m volume so far all day, less than £20k, as always, the easy bit is buying them. The reality is what you can actually sell em for, IF you can sell em.. !!! when it is so weak daily it can take a lifetime to offload even a modest holding.

Yeah, great distraction while they shut down at the field 0.0000 production !! RH get out there, pump it up and give em something to talk about, we got a little problem here and need some distraction.

About time they stopped talking and show investors how well they can supposedly WALK !! words are cheap !!

RH wasn't new to Angus, and past or present, when you take on the role you also accept what has gone on and what you are going to do.

RH isn't as slimy as the grand master himself, but he has also NOT delivered anything of upside note todate, at best all they have done is kinda steadied what is not much more than a paddleboard, rather than a ship.

As for all this carp from LOA, well the reality is they "should" always remain fully focused on bringing in the bacon from what they started, not go thinning themselves out more with other possible acquisitions. PROVE you can do it with what you have BEFORE you go spreading your wings RIGHT ??

Otherwise all you end up with is more costly venture, dilution, debt and strain on what is already a financially fragile outfit. I don't think RH is bad for the company, far from it, but he has not converted ANY upside as yet, in fact the opposite, the SP is still in DECLINE, the chart is the reality !!!

lol, just lol,,,,,

it's ok, you hang on to their "every" word lol,,, what really matters is has any of what they have done be it now or over the say last 10 years resulted in sustained uplift in sp ?? has mass dilution to raise funds resulted in a significant gain to the sp from utilisation of those funds ???

simplzzzz, go to the "chart" it tells you all you need to know !! which is a current sp of "at best" 0.03p right now and saw a new all time low of 0.02375p only yesterday !!

are they delivering ??? not from where i am sitting !! but i suppose if you s***** and blinker your view a bit then you could see whatever you want to see right ???

""As Bubblepoint, you are perfectly entitled to have a different point of view and to express it.""

Ocelot,

It is not just a "point of view" it is very much typical industry expectation from decades of further understanding tertiary recovery of old and very depleted fields such as this.

This outfit are simply using simple "headliner" numbers, but these are not the "reality of TRUE recovery and what is recoverable"

OP, no problem, we are both on similar page with this !! ;-)

""Now, we need to get it out faster, ..."""

Ocelot, firstly they will struggle to get any of it out "faster", tertiary recovery from a heavily depleted field cannot be forced, it is more a game of tease it out, you go in trying full tilt and all you do is kill it, FACT.

Also what they say are "reserves" is far from the reality of what they can "actually recover" both economically & viably.

You keep hanging on to their every word, that is what THEY want Pi punters to do, it is what keeps THEIR lights on, lol

""we have a big background seller who doesn’t want this stock to use anytime soon.""

TF, so you are saying "the BIG Seller" is using his selling power to pin this down ?? for what ?? hardly a strategic move is it ??

I would say it is someone who simply wants to get out with what's left of his/her shirt on their back!!! you can only sell them once !!

I think you are trying to promote some bullshine positive out of what is truly a negative, a BIG Seller is simply a BIG seller for whatever their own reason.

Nothing would surprise me anymore OP, and as usual with this lot, they put something together to "supposedly" give some answers, but actually what it does is simply murky the waters even more and raises far more questions than it answers.

If everything was as they proclaim then putting out a very clear, detailed (in layman's terms) report, and some real definition to the Trafigura deal etc, then hey great, but they don't they simply flannel the reality with some rose tinted stuff to distract from the underlying carp.

£8 million !!

Well in reality when you have already spunked over £100 million to this point then an £8million punt isn't a big deal anymore, is it ?? lol

Ohhhh and don't be surprised when this "opening up of one of the old wells" becomes the alternative to actually drilling the new ones they said they were going to do !!!

Sounds more like they are trying to dodge a bullet on that one in my book, both on cost and COS.....

PMSL ocelot,

40 years my arriss, maybe if they choke the wells back to something like 10% and just leave them piddling away, but absolutely zero chance of them producing in 10 years, personally I would put 5 years at best, before they hit the depths of tertiary recovery and the boundaries for commercial productivity.

You can keep saying it but it is absolute nonsense, and if it isn't then HEYYY publish a VERY detailed report for everyone to see in basic terms so EVERYONE can clearly understand but they won't will they lol....

It is NEVER what is down there that matters, it is ONLY what you can reasonably RECOVER that does FACT !!!

""from 04:50: "we are looking at re-starting an existing old well (at Saltfleetby) which is not in production at the moment, which would increase our production quite dramatically";""

Ocelot,

Considering they are producing around 25-30% less than when all 3 wells were at their peak, then any added production may at best recover some of what they are not achieving now, AND ultimately it still drains the pressure from the same reservoir, so induced condensate/liquids will remain the main hurdle.....

Thomas,

As said, I have ALWAYS tracked, traded, posted weald oilers, but I KNOW when to cut n run.

I use all 30+ years of deep industry knowledge & experience to be my guide, not the words of promotional fluff.

You seem to think I am waiting to pounce because YOU believe it is undervalued, ermmm no thanks !!! not even at this price.

BUT I will still keep monitoring it, posting on it, doing as I want, it is not an "only if invested" club, it is a SIMPLE discussion forum for various views, opinions, outlooks etc....

I don't wish any Pi to lose money, but some people simply never learn, some people ONLY want to rely on the words pumped out by those at the front of these outfits, and often it is the stuff they don't say that makes or breaks. each to their own lol

Thomas,

lol,,, YOU are stupid enough to ONLY swallow the words of what they tell you and THAT is why you are still holding while the SP sinks to a NEW all time low of 0.02375p.

You may want to believe their words, I will stick to my industry knowledge and understanding of what they are likely to achieve, and it is NOTHING like the carp they are claiming. good luck though lol

""Sitting there watching the SP, getting a buzz spurting the negativity. Your life must be quite grim.""

Mikee=p, All I can say is IF you HAD ONLY listened to me when I posted on the day of that fatal RNS,, you know the one,, when it was tripping around 1.8p,, I said hey I am out and said why !!! noooo folk like you preferred to slate me, my life isn't grim, but it would be if I was still holding,, thankfully I am not !!!

No, that is simply how folk ignorant to the realities respond, the writing is on the wall, and I continue to follow what this outfit is doing regardless, as I have since the day they and other Weald oilers first started out.

I don't really give a hoot about your or other opinions of me, makes not a jot of difference in my life thanks.

31m now,,, hmmmmm placing coming anyone ??