Member Info for gordon1237

K. I have a sixth sense that tells me that you are not too happy. Lol.

What do you think k ?

One thing I hsve noticed is that at the end of the day it invariably gets dark. Lol.

It seems obvious to me that Selan are deliberately doing everything they can to avoid drilling to the Eocene gas as they don't want Syn to get that income. How they can get away with it is beyond me.

Also beggars belief that they haven't reworked 77h. Reinstating the plug and isolating the old zones which are producing water should give a big increase in production.

Much as I love the sun the temperatures here in Surrey have been a bit too much. I have kept weather records for nearly 60 years and never recorded 30 C in May. This week had two consecutive days of 33 C. Of course, according to the scumbag in the Whitehouse global warning is a hoax.

Hi Espen. Seems to be that even you are now struggling to be optimistic.

Yes, there is activity but production and income are less than at the last update.

As for discussions.

" The discussions concern the well target which is planned to intersect the oil leg of the Eocene reservoir."

I think that for discussions we can read

arguments . There shouldn't even need to be a discussion about the target. That should be the Eocene gas reserve. That's what the jv was all about.

Good grief. Is this the Plan B, Roland mentioned ?

Carrot. As my old dad used to say.

If wit was s*it you'd be constipated.

Selan are certainly not meeting their obligations and doing so with impunity.

Yes Sprint, but the jv was never about oil, but

gas + condensate.

What the heck.

" The discussions concern the well target which is planned to intersect the oil leg of the Eocene reservoir."

The whole point of drilling to the Eocene was to exploit the 206 bcf gas reserve. Sounds like they have given up on the primary objective of the jv.

Just realised. I should have said 0.012 and presumably VF meant the same. My average is around 0.048.

Agree Kievsky that if Selan had done what was agreed, in the agreed timescale and if gas had flowed at the target rates things could have been very different. However, who picked Selan as a partner? . Who agreed to a contract that allowed Selan to ignore the agreed timescale ? Surely the contract could have had penalty clauses that made it too expensive to not do what was agreed.

Sausage. I need just under a 5 fold increase to break even.

Wouldn't have put you down as s chartist VF.

Can't see any catalyst at the moment for an increase.

For me, and I guess you, 0.12 would barely scratch the surface of my losses.

Kievsky. Why does Zag have to have worked in the oil industry etc to know that a 95% reduction in share price is a disastrous performance in anyone's book ?

Yes VF. Not a bad income, at the moment. Doubt it is quite as much as that as they will have contracted to sell at a lower price rather than the current spot price. It may be enough to cover current outgoings. Probably does. As Kievsky said they haven't drawn on the loan yet. There were some pretty big numbers for outgoings in the last report. However it is unlikely to be maintained at that level. These are old depleted wells. Indeed it has already declined from 195 to 148 bopd.

Also don't forget where we were supposed to be by now. The whole work programme was supposed to be finished months ago with 3 new wells in the Eocene and production of millions of cu ft per day. Instead of which we have a vague statement of the first well later this year.

Roland when he last answered an email said there was a plan B. Let's hope so..

So naff all progress to report. Pathetic.

Lol.

Some people would pay good money for that Crusty. Come to think of it we have paid good money for it. Lol.

I last tried a month ago Tucker with no response. Given up now.

Crusty. Reminds me of the bit in " The Office " Where David Brent tells a load of staff they are redundant then says the good news is that he is ok.

I once worked with a young lad who got quite incensed watching it. He initially thought it was an actual documentary.