Member Info for Desireoil3009

I'm sure you don't really mean that you wish the Aoka Mizu had sunk Donscot. The lads on there are just normal working chaps and I myself walked the decks of the ship in Sembawang - and a lovely FPSO she is too.
But your frustration is tangible and sings loudly from the page. We are in a time where governments are determined to destroy countries by alienating this industry's products way ahead of time and readiness and it's not going to take too long before they realise that the fridges, the roads, the ball bearings, the fertilisers, the soaps and even the vitamins are becoming too expensive to produce.
Oil might be the ugly duckling at the moment but once that little kiddy goes back to school then oil will be seen for what it is again - vital in today's world.

Hang on to your HUR shares and wait for a few years IMHO. It is for once an oil company with a future - be it takeover or simple straightforward growth. I can only speak on operational matters so if the intention is to ramp from current levels to 20Kbbl/day then there is clearly nothing significantly wrong with the well design and there's a whole bunch of cash in the bank. Try to look ahead beyond the horizon and do try not to think ill of the lads on the vessel. Or sinking for that matter :-)

PC01. Anyone checking my history will know that I rarely comment these days but from this RNS I simply have to hammer home the positives. They are spending a lot of their time well testing and obviously have identified the wells that are cutting water which the reservoir engineers didn't think would happen at design. They are not having to screw back production or workover on account of it and are expecting to ramp up to 20Kbbl/day this year. In this day and age that announcement is fantastic. Anyway, I'm done now - good luck to all who are in and planning to join.

They deserved it Boblicious. I'm not in myself for the record but Trice has been unique among the oilys in his reserved expectations and over delivering. Much, much more reliable and resilient than PMO. Good luck to all interested here - don't think you will go far wrong.

Stonking RNS from HUR. From a zero to 12Kbbl/day and having just clipped another interest I really have no idea why they are being hammered like this. I'd be over the moon if in for the long term. They've explained (clearly to the non oily) exactly why daily production is down and why water cut is fluctuating. One of the best production RNS announcements I've seen in years. This is a long term buy.

This is a company which was designed to produce gas for sale in order to make a profit.
In the space of a year they have lost 90% of their initial production rates.
They have two producing wells; both of them require workovers, one of them has a tool stuck.
The little gas that is being produced is being sold to their one and only customer at 40% discount, and at under 7MCF (which it is now) per month is, as far as INA are concerned, no more than a fart down the pipeline.
There are insufficient cash funds to (a) purchase a scrubbing skid, (b) purchase a compressor and probably (c) workover the two wells and also fish the tool (which, if you remember, has already been attempted). Yet raises have been made against these requirements.
The company is in litigation with the Slovenian government, the costs of which have yet to be revealed, along with the results.

The question I have for Aliens is why, from the above scenario, you feel that AST is a good buy? Hazarding a guess it would be because you openly admitted entry into this stock at around these price levels and it's not inconceivable that you may make a bagger out of the froth that appears with the occasional piece of news. Nothing wrong with that of course - it's why we are all here in any stock. But it offers little consolation for those who joined at the 0.8, 1.5 and 2.1 stations and who have no chance of ever seeing their money back.
So, instead of telling people that the AST value will increase and today is the best time to invest (or trade?), why not follow it up with facts to uphold your thinking. My stall is set out above (and below) - let's have a discussion as to why you feel otherwise?

No idea how many of you guys think the company is doing but the fact of the matter is unfortunately, that the combined production is now around 11% of what was being produced at first gas, it is wet gas (that is, rich in condensate which hasn't been knocked out), water saturated and is being sold to INA at a discount of at least 40% - something which no-one seems to have remembered.
60,607 MCF produced in November 2018 with "Average monthly production from July to November 2019 for our two existing wells was 7,136 Mcf." That 11% is being generous, as over those 5 months the gas will not have increased in production rates, but fallen.
This sales achievement brought much justified euphoria at the time but it was strictly a short-term arrangement. All this time in production at this discounted rate has cost the whole field dearly (the gas cannot be sold again) and INA couldn't give a monkey's if this amount is sneezed to them month by month. So, AST have no real clout with this arrangement, something the Slovenian authorities will be well aware of.

It seems that AST have been a victim of a deliberate attempt to force them out of Slovenia for whatever reason but naturally it will all boil down to money and more than likely, greed.

In order to attampt to rectify the situation the all wells will need some severe workovers - in all likelihood PG11 has long since been shut in with PG10 being the struggling sole producer. The workovers will require money of course and it seems..........permits.

The compressor and knock-out skid were probably cancelled because the falling daily production simply didn't justify the cost. Without a workover the wells simply could not cope with any type of enhanced recovery techniques.

Without a knockout skid there was no means of cleaning the gas up enough to allow the revision of the contract with INA to annul the heavy discount structure and increase the income.

By the time any judicial decision materialises there will be so much money required to recover these grossly neglected wells and subsequently maintain and enhance the production and required scrubbing that AST will be left open and vulnerable to all sorts of dirty tricks being played to prise the licenses from their hands. At best a takeover at a nominal price, at worst a financial strangulation perhaps.

Some may choose to blame the BoD. Certainly CH should have handed over to a coal-facer much, much sooner than he did. Personally I now believe that AST were never going to be allowed to produce Petišovci and were up against people with power and ability to stop them.

Agreed Gary.

PIFace. There is 20 feet of sand above the oil water interface. There's little chance, really little chance of these ridiculously phrased "oil indications" in this 20 feet being anything more than residuals from a bygone time. There's absolutely no chance of a big find as you wonder.

If there had been a commercially viable recovery in that 20 feet (which in itself would be quite remarkable) then to answer your question, all that would happen is, when drawdown started on production (inducing pressure differentials) the OWC would simply meander its way up towards it and in no time produced water would be cutting at the surface and very quickly to an extent where dropping it out became uncommercial.
Around 90% of the originally anticipated pay zone is water-bearing sandstone it appears.

It's a bust I'm afraid and if this were anything other than a dud the company would have been shouting it from the rooftops and not in the appalling manner that it's been released yesterday either. A whole day for those with advanced warning to get out.
Worryingly they twice in the RNS refer to "at this location" which suggests to me that they may well be considering another poke at it and who's going to pay for that one wonders.

Well said techguru91. Our CEO has real skin in the game and will be pushing his company as hard and fast as realistically possible into development and growth. Didn't pay much attention to yesterdays blip - aside from topping up. Today's interview - which should be at https://www.proactiveinvestors.com/ for anyone who can't be bothered typing will give the uninitiated some idea of the drive and enthusiasm behind this company. Chris Jeffries could sell ice cream to an Eskimo if he wanted to but in DEV's case he doesn't have to. There's apparently a massive line of customers queuing up in all three avenues of development and a free float that's getting stickier by the day. It just doesn't make any sense for any regular investor not to have SOMETHING in this stock. Anyone reading this should do themselves a favour and set aside 10 minutes or so to watch the interview today.

Anyone interested in potential here in terms of monetary value, takes time to digest the RNS. But Dev Clever charges the brands for the use of their gamification product on a subscription and management fee. The hidden beauty of this is that dev clever will get paid each time one of the customers plays the game, so for example whitbread they serve 5 million customers a month, each time their customers play a game usually addicting such as the wimblerun for Robinson’s, dev clever get paid. That’s one of their blue chip companies. Now looking across the board as to which clients dev have previously worked with and the size of those blue chip brands, with the launch of this gamification engine, those blue chips will surely want to be part of this new trend. The revenue potential here is incredible!

http://www.midlandsbusinessnews.co.uk/digital-innovations-experts-dev-clever-launch-worlds-first-virtual-reality-experience-to-help-school-children-choose-a-career/

Youngsters facing increasing pressures over their futures – in the light of uncertainties in the job market – are being given a helping hand by the same innovative technology many of them use to play computer games.

Midlands-based innovation company Dev Clever has developed the world’ first virtual reality careers’ experience – a Virtual Interactive Careers Training and Apprenticeship robot – called “VICTAR” for short.

It is hoped the aid will guide youngsters unsure about their career options and go some way to addressing the critical issue nationally of the UK Skills Gap which the Government estimates will cost the UK tax payer £90 billion per year by 2024.

The Government is now incentivising educators, training and apprentice providers and employers to work in collaboration to promote and support the skills development for careers in their regions which are predicted to grow despite challenges to industries such as automation.

The VICTAR experience starts by the youngster wearing a Virtual Reality headset with VICTAR then taking the user through an interactive personality test to determine their individual strengths.

These are then linked to the user’s interests for VICTAR to intelligently match careers that the user will both excel at and enjoy.

VICTAR then shows videos of people working in that career and the different pathways they can choose to get there such as further education (FE) and apprenticeship.

VICTAR is also linked to live government sourced Labor Market Information (LMI) which shows the young person the predicted growth of their selected career, what they can expect to earn once they are qualified and college courses, apprenticeship vacancies and employers in their area to help them begin their journey.

VICTAR, which will be available to secondary schools in the UK and Careers Guidance Officers, is designed specifically to support the government mandate of schools delivering careers information.

An online forerunner of VICTAR, FastForward, has been in live testing for over 18 months with one of the company’s partners Solihull College and University Centre, receiving a National FE First Gold award, for incorporating the use of an interactive, virtual reality careers’ engine.

Chris Jeffries, CEO of Dev Clever, said: “This is an exciting step change in the way careers’ information is delivered to school children as part of a more engaging and stable careers’ programme.

“It is providing young people with the opportunity to make an informed decision about their future and should dramatically reduce the risk of making the wrong choice, which leads to mis-education and additional cost to the UK tax payer.

“At the same time, it provides school children with a centralised platform to view educators, training providers and employers that

https://audioboom.com/posts/7180434-emmerson-dev-clever-holdings-and-chris-bailey …

"MARCH IS GOING TO BE A HUGE MONTH FOR US......"
Well I certainly believe them.

Anyone who isn't sure here really needs to get on board soon. Streetly Academy start today..........and they were happy to tell the world about it.
DYOR of course but the time to hop on is now.

https://audioboom.com/posts/7180434-emmerson-dev-clever-holdings-and-chris-baileyNow this is serious stuff.

Very strong buy here.
Usual DYOR and come to the right conclusion.

A 50% rise from here would get you to between 0.45 and 0.475 actually.

Indeed. From one ARSO to another.

The big problem here is (IMHO) Russia. With a nice big juicy fat contract like that, they 'aint gonna let a minnow grab a foothold. How they go about it - well take your pick. Permit delay seems to be the engineered result. Very effective too as we are now finding out.

Don't see how this can be brought back without a T/O from a larger (experienced) producer.

The only income source is now being openly advised as under threat. PG11 is beyond recovery and PG10 requires repressurising. Imagine how this would have looked if PG10 had been ramped up a year ago............
Attempts to reduce shut in periods by injecting soap are being met with opposition from the consignee - the only customer AST has and who is already paying wholesale less 40%. So even with heavily discounted gas they are prepared to wield the club, not trip over themselves to help the poor little minnow........
For the first time AST are actually telling us that the suitors are writing in permits to any potential deal. Indirectly of course but it's there.
Meanwhile, the money required to re-enter the wells, which is absolutely vital, runs out at the end of the year and the shareholders receive a poke for not giving the BoD complete carte-blanche to dilute at will. Hmmm, I wonder why.
Still no sign of the IPPC permit which would allow AST to build their little gas scrubbing plant to sell to Slovenia. How dare they deprive their own people of their own gas, complains the company. Suspect they know but can't really put THAT in writing.
Directors taking pay cuts and then following up with deferring any payments whilst the CEO now openly states that he's looking for another job ('coz that's exactly what that statement does say). IMHO he's already found other interests but in any case, if there's ever a time when a Captain needs to steer the ship with undivided attention it's when it's heading for an iceberg.
Problem here is that it's a tug-boat Captain heading into the iceflow on a large tropical cruise ship......and we are the passengers.

Consultants contracts terminated. UK employees placed on zero hour contracts.

This is a Red Alert. Salvage what you can now 'coz 4 months is absolutely nothing in delay terms and that's what is left before money runs out. And don't forget - everything there is based on an income in which PG10 plays ball.

More money needed regardless.
Company without direction.
Permits being withheld.

Not a good place to be.