Member Info for Grezzz

https://twitter.com/AlignResearch/status/1484112254249353222?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

I still maintain the that the collective optimism came from the RISC report, but obviously the board's experience and interpretation ought to be better than that of we plebs.

Naturally a lot of finger-pointing today, but the one part of the puzzle which seems to have escaped scrutiny is RISC. https://riscadvisory.com/
I think it's fair to say a good part of my decision to invest was based on their presentation.
No doubt our BOD will seek their input on our disappointing result...

I was feeling philosophical about this - right up until I explained to my partner just now. She's seriously upset. She lost a huge amount of money in her business venture last year and this has brought it all back to her. Should have kept my gob shut....

@Bladey. The main focus of my enquiries on this project have all related to why the attic was missed initially and why the new seismic survey interpretation has produced such different results. Each reply, from professional, or at least 'experienced' participants has been that the technology and technique has advanced so much since the field was abandoned. So, at the moment I tend to agree with you that we need more detailed analysis of the logs before we call it a complete bust.

UKChips " wtf is wrong with investors these days?!"

- I blame the oestrogen in the tap water...

Brent $87.33

CVN flat...

https://www.google.com/finance/quote/CVN:ASX

oRuin "We don't want any diet oil around here! :)"

LP in one of his presentations mentioned that it's the 'Champagne of oil' with an API of 53. For crude, it doesn't get much lighter than that - effectively condensate.

If the level of the attic had dropped due to the peripheral drilling, and subsequently recovered somewhat by way of pressure from the surrounding and lower strata, the then additional volume would effectively be similar to a conic section.

We really need some input from our friendly local geologist!

....is the average air speed velocity of a laden swallow?

https://www.nytimes.com/1995/09/26/science/geochemist-says-oil-fieldsmay-be-refilled-naturally.html

and
https://www.sciencedaily.com/releases/2008/01/080131111653.htm

Just sayin'...

My personal view, not backed by any specific data, is that as has already been mentioned, a greater proportion of RDS and BP institutional investors are under increased pressure to go ESG. Having lived in the U.S. and with many friends scattered across the lower 48, my impression is that collectively the country is taking a much more practical view of the need to maintain a healthy o&g industry than in Europe. I agree and accordingly have increased the percentage of o&g in my portfolio while prices were depressed. However, the real 'crystal ball' requirement relates to how well the balance of o&g revenues are ulitilised both to reward shareholders, and transition to being increasingly 'green' energy companies. At the moment, I think that RDS and BP have a clearer focus on this goal than the American majors, so I feel the gap in performance will close sooner rather than later, provided the OP continues to finance the programme. Ultimately we need IIs and I have no doubt they will return with strength when both the green agenda and shareholder returns look solid.

Each company's balance sheet will affect their share price, and therefore m.cap. One of the attractive features of ADV, for me at least, is their low overhead. Having been a majority shareholder in a commodity trading company previously, I can attest to the significance of controlling the overhead....

More generally, whichever 'investment' strategy one employs to achieve one's goals- without diversification as a hedge, it's just gambling....

1976 Suzi GT750 - (amongst others) - an oilers dream, and one-man environmental disaster.... :) Gonna re-name her 'Greta' !

Missed that dip talking to my daughters :(

AJ - Thanks for the link. That's a few pots of tea worth of reading, right there!

EnergyGeo - Thanks very much indeed for your comprehensive and detailed reply!

What has always niggled me is why the attic wasn't originally the primary drilling target? I concluded that my rudimentary knowledge of geology, and that LP has stated that the seismic surveying techniques have advanced so much since the original survey, accounted for that apparent anomaly.

KR - No doubt an EV is on the cards at some point, but at the moment I tend to feel like holding on to my love of V8s until they are outflanked by EVs on all fronts. I'm also a long-time lover of drop-tops, and part of that experience is hearing a big V8 'come on cam' with the roof stowed. That said, I tried to out-sprint a Tesla exiting a dual carriageway roundabout a few weeks ago, and he was right on my tail up to 'considerable' speeds. I'm contemplating a bumper sticker - 'Race you to John O'Groats' or something similar. :)