RE: The tide is turning I feel ....26 Nov 2020 10:11
Penguins, next you will be saying that Brent will go sub $20, that Covid will keep Oil use down, and that the global economies are not picking up. Maybe you also consider Maradona to be over-rated and a Sunday pub player. I can take a balanced argument, but your arguments are so one-sided with doom and gloom predictions, its hard to take you seriously.
For example; water cut in HH1, it may be going up, but you fail to comment on use of HH2z and automated injection of water into that horizontal to keep the opex costs down. Sure, that re-injection needs further technical analysis and work-over. But it does make use of a well that's already been drilled and potentially into a different compartment of the Portland. It offers an excellent opportunity to keep opex costs down.
But no, you will keep stating that UKOG are having to pay BKP to truck away 1 in 3 tanks of water versus 2in 3 of oil. Do you ever consider how that could be mitigated? Nope.
Turkey, its just doom and gloom from you. There is huge upside there. I've even suggested that UKOG may withdraw from that arrangement, I don't see it as nailed on. They may use a get out clause to say thanks but no thanks. OR, they may continue, and they may have success or they may fail. Their business partner there will not be on the hook to lose a dime in direct spend as its 100% UKOG funded; however, their partner will have to operate the campaign and I'm sure that they will therefore have to use some of their own resources (manpower and equipment) to support that campaign, and even though UKOG may pay for those resources, it means that the partner cannot use them elsewhere.
IoW = Yeah, we know, it may be a dud. But never say never. It needs to be drilled and proven. You are not an authority and can only speculate on whether it will success or not. Maybe it is a 80% fail, 20% succeed ratio, maybe worse, but you only ever talk about it as a failure before its even started.
etc, etc, etc.
One sided, negativity, not seen balance from you.