Member Info for Genghis15

Actually, that wasn't quite what I meant re OGA figures, but I suppose it's possible. There are those here better informed than me that will know, or find out, I suspect.

Sigh.

I have watched the vid, more than once. Catching up is not the same as getting ahead. "Catching up" referred to guidance figures, not real flows and cold hard cash.

F22
You are a dolt. "Shut ins don't cost money". Of course they do. Lost production is lost production.

F22
Shut ins cost money, you only do them to gather useful data. Water cut data is not critical at this stage and will be clarified in future shut ins for data gathering.

Londoner
Could it be that the OGA data only get reported/compiled after offload?

FFS
No wells were down. A flowline was out, both wells flowed. Read the effin RNS.

Let's just look at what we've got.

On LC, just confirmation that the horizontal section is complete and a DST imminent. Pretty much as expected, but if there were indications (read ; low mud losses, etc) that LC was going the way of WD, I think they would have to be in there. They are not, which I take to mean that so far all looks good.

On the EPS, they've had a flowline problem, now resolved, They've turned that to their advantage by flowing well above guidance and getting cash in the bank, and well done to them for installing a system that allows both wells to flow through one flowline ; I imagine it could have been done differently.
So they've solved the problem, which impeded only data gathering and not production - the RESERVOIR has performed well. And they've made sure we understand that production will decrease as they now carry out data gathering and shut ins.
Further, the vessel itself has had better than the LT projected 85% uptime.
Forget the water cut ; as long as its perched, who cares if its 3%, 75, or 15%?

I can't see anything not to like, in fact if they've flowed 14k bpd thru one line, mb they can catch up downtime at up to 30k bpd in future, with 2 functioning.
And they promise a further update on 20 Sept on EPS.

Many were clamouring for more frequent RNS updates, perhaps this indicates a new approach.

Spot on, Olderandwiser.

NPVs are a tool, but for co valuation, discount by a minimum of 50%, mb even 75% if early stage.

Agree, Cebo.

feelinlucky, if you had watched CMD you would know there is NO flaring consent gor Lincoln or Warwick, only Lancaster, capped at the capacity of the AM. So any production from Lincoln/Warwick/Whirlwind/Halifax has to await the WOSPS hookup, likely by end 2020.

Sloppy journalism, as you would expect from the Mail hate-rag.

Still, any publicity is welcome, I suppose.

Who cares, it's not our money!

Certainly seem to be a lot of sellers this am, no idea why.

There seem to be no indications of any problems, I guess the WD result has frightened the horses. Let's bear in mind that up to that point HUR was on a 100% record of successful wells, ignoring Wellington back in the Dark Ages.

"gas shows throughout, lots of hydrocarbons, very high level of confidence, heavier HCs in samples, mb a liquids play"

Couldn't ask for more.

Extremely happy with my investment here, much upside to come for the patient.

"BP said the deal is part of its plans to raise $10bn over the next two years through asset sales to further strengthen its balance sheet."

That neither makes it "flush with cash" nor " on the prowl for UK assets".

Cebo
I'm sure that's good news, especially the golden feathers.

I too can report that the lunar currents are favourable, and the thaumic engines are beginning to glow. However these omens aligned previously to no result...….can't happen twice, tho. ))

Today's market reaction is inexplicable, at least to me.

I thought I'd missed the chance to top up sub 1.30, expected it to be sailing away past 1.35 this am.

Sachin confirms here that all is so far as expected, and any deeper potential is pure upside.

How some have taken this RNS as a sell signal beats me.

Thanks. LW, those Fat Fingers......

It appears that by happy coincidence my 11.16 top up was perfectly timed !

Agree, SS with your post of 11.15, , my only comment being it would be nice to see a company update on cashflow.

" a mis-reading by the market if ever I saw one…"

https://www.malcysblog.com/2019/08/oil-price-dgo-eco-atlantic-reabold-solo-jadestone-providence-and-finally/

Big buying opportunity, ?

There seem to be quite a few selling into this rise ; I guess the WD may have left some a tad nervous. Even when (ok, if LC is a stonking success, on past form many will bail out and take profits, which on past form has been the way to ply, not only on this share but most AIM oilies.

Those doing so may be missing the trick, tho. Whilst drilling success is a ST share price catalyst, the key here is the EPS happily pumping $$$s into the HUR coffers, but, most importantly, proving up the FB concept.

Every month that goes by with the Lancaster reservoir performing as expected, the more likely it becomes that a FO or TO appears. HUR have said in the past 6 to 12 months to prove it ; tho somewhere I'm sure they shortened that to 3 to 6 months.
FOIL was 4 june, so nearly 2 months in. Might we have to wait for Xmas, or will Santa come early ?

The big prize