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So for people who want to know how it works in Texas. All of Texas is covered by Co-operatives who supply retail supply. The one for Stockdale is this one http://karnesec.org/ By law they have to buy from you if you want to supply them with electricity. It is a fixed price, so no deal to deal agreement. That is Joe Bloggs down the road getst the same price as you. Currently, the price gives a premium over NG of between 30% and 50%. So if Mayn goes down this route (I think it will) then we don't need to start finding "hot taps", an offtaker, negotiate a price and put several hundred yards of pipework in. We had to do all this at Shoats Creek for LM14 and LM20: it took a while and turned out to be a complete waste of a decent amount of money. In this case, we need a generator, a meter, a hook-up to the grid (but it is done all the time) and the NG. The generator can be leased. I have seen elsewhere that the grid goes through the lease so it should not be a major problem. If we end up with several wells at Stockdale (increasingly likely with every passing day) then either we lease a bigger generator or more smaller ones. If we end up with 6/7 wells at Stockdale pumping the same amount of NG as Morris 1 then the electricity alone becomes a very decent number. In his interview, said he expected to progress the NG by the end of the Summer. I expect he is deliberately giving a timescale that will not put undue pressure on the company. To go into Morris 1, perforate, clean up and test probably means that it is offline for a week. Better in the short term to have it producing just the oil. Once he has all the FH wells producing and some more at Stockdale online, Mayan's cashflow will be fine and it can afford to take a well offline for a week to upgrade it. DYOR

https://www.share-talk.com/share-news/share-talk-bulletin-board-heroes-17th-may-2018/amp/?__twitter_impression=true

Stockdale gas: we can use a generator to produce electricity and sell it at premium to the local Coop. No need for gas gathering kit or pipelines.

Looking good at last.

https://www.bloomberg.com/amp/news/articles/2018-05-16/morgan-stanley-says-a-shipping-revolution-has-oil-headed-for-90?__twitter_impression=true

Could be to do with the gas and condensate at Stockdale or a new deal or info on the EUR/Reserves or a black swan.

Would that also include the new intervals that have never previously been produced at FH? What was happening 10 years ago on these wells doesn't reflect what can be done now. Also a lot of these operations were in effect Mom & Pop enterprises with very little technical know how and little access to capital. Take a look at what is happening with our friends at Zenith, FRR and Block. Look at what is happening in the North Sea. Old fields are lucrative as long as you are prepared to put some work and capital into them. If all Mayan was going to do was turn the taps on and see what happened then you might have a point. However, DSK knows what he is doing. Check out his CV. He is the guy that introduced David Sealock to Petroteq. If David Kahn tells me he can get those wells producing and making decent money, I for one will accept what he says. There are always issues with wells but this model minimises them. We are behind schedule but catching up. DYOR

I am sorry Upside but if FH is a stripper well operation then so are the new wells that NTOG is drilling. Who spends $450k drilling a stripper well? http://www.lse.co.uk/share-regulatory-news.asp?shareprice=MYN&ArticleCode=0igypwrv&ArticleHeadline=Operations_Update The above update confirms 190 bopd gross from four wells at FH ie 47.5 bopd per well: without other intervals being perforated. On the twin well (new drill 1) the gross production for NTOG is 53bopd with an EUR of 35k at a cost of $450k. So how is what Mayan is doing at FH a stripper well operation when there is a difference in production (currently) of 5.5bopd? On any rational analysis Mayan's operations are higher returns with lower costs and lower risk. Don't forget that the oil at FH goes for a $2 premium currently. At Stockdale for similar costs we are at 88 bopd without the gas and condensate: probably 120/150 boepd with it. There is no way you can call that a stripper well operation. Obviously, you have an an agenda here, I don't know why but there we have it. DYOR

This is interesting from Upside. Fjones.....I view it like this. Egypt currently has no value so may or may not add something in the future. Currently the back bone of the company is the stripper well operation at Pine mills. The field is 100% owned and operated by the company through its Texas operating company. The production is reliable has a very low decline rate and at current oil prices is very profitable.The wells being drilled on the new acreage have the potential to move production in to a different league. Drilling is fast and therefore cheap but the returns far exceeds a stripper well. There is relatively low risk with the target formations as they are proofed in the area. Potential does however exist in other formations Somebody obviously struggles with comparative analysis. Circa $450k a pop is only cheap if you say it quickly. It might be lower risk but it is not no risk as has been shown. Rose Petroleum did the same thing a couple of years ago; They thought they had a dead cert but hit water and couldn't complete the well. NCT had water problems on LM20. Drilling is risky, it is just that some drilling is more risky. No mention that on the second new drill the EUR is 35k and the return 2:1 at $40 oil. East Ghazalet is a great asset but the arbitration could take a while and be a nightmare. I wish ML luck with it. DYOR

NTOG will do okay but that last new drill has caused a problem. I can't see them doing another new drill till they have worked out why they hit high pressure water when the guys around them haven't. So not much news till they put the second new drill online (probably two weeks) but that will probably only be circa 35/50 bopd gross. If you compare it to Morris 1 we have got a much better result without the gas and condensate added in, at a fraction of the cost. With the gas and condensate added (probably 4 weeks or so is my guess) I suspect we will be at 130/150 boepd with an EUR of 150k/200k. The all in cost for the work on Morris 1 will probably be around $40k/$50k. The gas and condensate at Morris 1 could be brought on line quicker but to perforate they need to take it off line. Personally, I wouldn't want to lose the production until everything is lined up and ready to go with the other wells at FH all online and producing. DYOR

3mil of recoverable: NTOG has been getting excited about EUR of 35k on a well costing $450k. It shows ZR is a decent asset. DYOR

Very important!!! Confirms Role Quad Probe has been used at FH. Update incoming on FH shortly, possibly 2/3 productive zones. DYOR

I see you are still obsessed. I am inside and so can't comment.

Obviously all actors, all made up, didn't happen..... etc etc https://youtu.be/tIDYq94fkrc

We have someone saying that Amason 1 is the litmus test. Here is what MYN have said re Amason 1. Following workover of the Amason#1 well 30 barrels of oil were recovered over 10 hours while testing open perforations in the Lower Sands of the Sub-Clarksville formation (at a depth of 4510'-14 and 4520'-24' (ft) - the Lower Sands is just one of multiple payzones identified at the well � The workover of the Collins well, the third in the eight well programme, will commence today US time with results expected shortly � Open hole electric logs obtained on both wells indicate the Upper Sands in the Sub-Clarksville formation are productive of oil and these zones could contribute considerably to the daily production rates � The Company intends to run a Roke Quad Neutron log in both the Amason #1 and the Collins wells to confirm the analysis of the electric logs on completion of the Collins well workover � Newly identified zones will be perforated, tested and commingled with production from the Lower Sands of the Sub -Clarksville � Gilbreath #19, which produced at an average rate of 43 bopd following a workover in Q4 2017 (see announcement of 14 November 2017), will immediately be brought on line once the relevant approval is received, which is expected shortly � The rig will be remaining on site to complete a further 5 workovers at Forest Hill for a total of 8 wells It looks to me like Amason 1 is just another well and nothing special. If they can produce from the Upper Clarkesville then great. DYOR

Yep, I like what they are doing. Been in and out four times now and made money each time. No doubt, I will go back in due course. The big upside is getting East Ghazalet sorted. It does show that regardless of how much like companies like NTOG, they are carrying a fair amount of risk and it is not necessarily fully appreciated. Mayan's model should be getting priced at a premium not a discount. I had a long lunch with DSK last year and we had a long chat about drilling. He is just not into it, his view is that his expertise is in oil & gas reservoirs not engineering. His view is that if you can produce the oil & gas cheaply without taking any engineering risk that is the way to go. I fully agree with him. If we can secure a bunch of wells at FH and Stockdale over the next couple years and keep repeating what we have done to date (ideally efficiently and on time) we will have a serious business here for not a lot of money or much risk. The big thing we need confirming is the EUR and P1s on the assets we have already. The wells that NTOG were drilling were circa EUR 30k with a 2:1 return at $40 oil. We should blast that out of the park. DYOR

No smirking or pointing fingers (sold my NTOG last week on the spike) but the news today just illustrates how superior Mayan's strategy is. It looks like NTOG hasn't wasted all of the budget (circa $450k) but it will have wasted a fair amount. Mayan's strategy is lower risk, lower costs and just all round easier. I would say quicker but to date we haven't been. With drilling activity there is always a risk, even with a dead cert, that something will go wrong. Things can still go wrong with a workover but there are a reduced number of things that can go wrong and the abort cost is less. Assuming we can pick up some more assets similar to FH and Stockdale (the company has said repeatedly it is in negotiations) Mayan is a much safer bet that NTOG. That doesn't mean money can't be made on NTOG I am just comparing the physicality of what they are doing. DYOR

Reduces transport costs.

Fingers crossed, news this week.

Ah the Troll awakens, ignores all the good news and tries to find a minor fault. Any insight on Morris 1?