Member Info for Gritstone

$294M at $50/b

That's equivalent to $235M income at $40/b and 85% availability at AM - not bad at all - maybe even world class!

I hope that ADUK will look at this - he and others here have detailed hard copies of their research from the period of the companies listing and are most likely to be able to assess whether you are or are not barking up the wrong tree with regard to OWC etc, etc and after performing more sustained testing surely the company will spend a few quid on a revised CPR to allow a proper re-evaluation. They should promptly indicate to us when this will be available, if not the Board will not have my trust and frankly they have yet to earn it after the recent behaviours, G

By the way just doubled my holding

AGM 6th August - agree re voting look at the motions and make your choices - I have just voted against just one resolution as i don't want another "rinse and repeat" to quote one of you earlier today. A capital raise to accelerate production is a good thing with earlier results, that's my judgement anyway. G

Hi ADUK

good to see you are still here, any thoughts on the RNS from your technical perspective?

.......maybe Planted does have a slow car bet your trucks are faster than his vehicle! G

Thank you to the person who recommended this as a background read.

https://www.reuters.com/article/us-usa-shale-water-kemp/water-is-the-biggest-output-of-u-s-oil-and-gas-wells-kemp-idUSKCN0J223P20141118 .

The article is a summary piece by Reuters developed from work by Argonne ( a very highly regarded national lab in the USA) and puts in to perspective by comparison with other wells the low expectations HUR must have had from the initials drilling days for water cut as a percentage of production and that HUR were sufficiently confident from the initial well data to design of the AM process flow sheet to cope with it being such a low % of produced fluids from the wells in Lancaster.

Although this thread (which I have read from its inception) is a most valuable debate it does not detract from the underlying fact that the Lancaster field and the Rona Ridge as whole is truly a "world class discovery". Perhaps we do need to remind ourselves of that and inspect in detail who (the why is obviously money) is manoeuvring the SP. That's where the battle is and then question can it be won by those of us who are watching from the sidelines with relatively modest sums invested.

By the way I think the next RNS will take a bit longer to produce to allow for analysis of data after the max 2 wks test/commissioning period, that period should be analysed to see if we can identify from trading who is pulling the strings in what direction and why - the Board who have a duty to everyone of us in equal measure or another party........ Best, G

DC: Class response!

Operating costs as stated in the Annual results pack are $22/barrel, quoted prices at present on BBC market data are $31.45 so Gross Margin of $9.45 x 20,000 bpd = £189,000 per day or $1.3m per 7 day week of production........full year at say 46 weeks production = 46 x 1.3 = $60M approx per annum

Maybe a good time to hire Seawell for P&A work from a cost point of view? Although looking at the weather up there just at the moment the timing my not be so good!

Opportunity? Possibly, that might depend on the tweet rate from washington and whether it mentions chi - neese flu or oil........

Yes - Respect to Dr T and team, two things stand out in the read of the report to date - 1. the low operating costs and 2. the blunt integrity and the sensitivity analysis in the going concern statement, for serious investors these should be welcome. G

"What about Grace Kelly?"

Much better than the DD option.

....I assume that everyone recalls the desire of the Board to move the company to the main market, I suggest that we all shout about it again, then we can buy in even more at even lower prices before it happens......

no - not so little it was over a few days!

After a few years of absence, I hope and feel this is the time for MSMN

Morning Genghis, I wonder if the wise DrT might be having the CPR authors watching the live data with him and the rest of the HUR team so that shortly after the 6 months observation of the wells the revised CPR could be promptly issued - maybe Q1 2020? I guess its also possible the CPR authors/HUR might want certain tests done too and perhaps that is why we received the guidance a month or too back that there was extra testing to be expected.

Hi SIPPnOob

Thank you, I will write to them and promise if I get a reply I will advise!

Meally mouthed answer is what I expect but we can live in hope! G

Once upon a time there was a desire in the HUR board to move the company out of AIM and on to the main market (wasnt it in an RNS), I think the pressure should be applied them to answer why they haven't done so. Seems like UK boards have lost their courage for some reason - let's hold them to account on this. G

No please don't mention that person on here.