Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
We will not see the Electrical Submersible Pump in HH2z at the surface. The most we will see is heat from the flare stack. The judgement is whether UKOG are flaring gas from HH1 or HH2z or both. Clearly if the pump going back on HH1 is delayed than it will be obvious that HH2z is flowing.
The pump has not changed its speed for the past couple of weeks. There is nothing special about the speed today. The site team are clearly doing a series of controlled tests including regular pressure build up tests. This will reveal the extent of the connected volume of oil. The fact that we are seeing regular oil tankers leaving the site and the ongoing heat from the flare stack are indications that the connected oil volume is large and not just limited to the immediate rock around the drill hole. We need Schlumberger / Nutech to process the data and let us know what UKOG are dealing with. The indications are very positive.
I assume that there will be no tankers on Sunday or Monday (with the planned protest) and therefore UKOG will need to make sure that the stock tankers have maximum spare capacity before Saturday evening. There will need to be more tankers in the next 30 hours.