Member Info for mikemike

The only thing that has surprised me is that the ''haircut'' was agreed. this in effect means that the sovereign state of Alaska defaulted.The renegotiating is a failure to meet the contracted requirement. This technical default may now be a prime consideration for any party looking to acquire sovereign Alaskan debt that may not be worth the paper it is printed on. For me this is a huge risk that did not need to take place as I am pretty sure that the recovery in POO has seen far more than the outstanding debt flow in to the national coffers. This may come back to haunt them

The good news is that we have not been told '' NO'' they are just working out how to say 'YES '

mine are 36bar each

Yes more helpful price support to distract away from Sarawak

I suppose many have been wondering why there has been such a recent and rapid rise in the SP in this part of the world. Some are suggesting leaks, progress at FIG level and drilling decisions yet to be announced being factored in...who knows?, I know I do not, yet I suspect. I suspect this has far more to do with oil at the marco level, the bigger picture. Since mid 2014 the POO has sunk without trace, with recent recovery still insufficient to save the bacon of those who need over 80$pb to justify existence, Yes, they are out there and still cannot make a profit at todays POO. Many like the FI companies identified prospects back in the year 2010 to 2014 that unlike the FI guys are being brought on stream today and over the next three years. New discoveries for the last three years total close to 23billion barrels, yet we burned over 100bb in that time of a finite resource. Those more recent discoveries will come on line in the next 2/3 years. reality is that they represent close to 2/3 days of Russian production. Hardly game changing. There are very few 'Elephant fields'' Yet the FI companies combined maybe sitting on just that. Remoteness plus South Atlantic politics has placed the area on the back burner....no longer. The reluctance of the industry to prospect and bring on line offshore deep,water resources may now have a significant price impact with over 100$ PB being touted as POO, with plenty of upside to that predicted pricing. Coupled with the thought the Permian and Eagleford basins may be getting close to being past their prime with regards to shale oil. A perfect storm may well be brewing. The FI may be a location, so far untapped yet with identified potential,leads that could now be drilled with less platforms as drilling efficiency continues to improve. The near future is suggesting that the potential here is too great to be ignored for too much longer. The potential is only now being reflected in the recent SP surges for the area as a whole. By no means is it fully priced in, how can it be!!? Once the ball starts rolling with firm drilling plans being announced I will not be surprised to see the FI being classified as an 'Elephant Field' in its own right. I believe we have seen that start of the recovery in FI fortunes. Yes, there will be dips as we go. Yet, one thing is for sure, a rising tide raises all ships unless they are so badly damaged beneath the waterline they remain sunk. Despite what some may think of their individual BODS, or get tribal because they hold one share over another, The Future for FI oilers is looking better by the day. AVB no matter which share or how many you hold.

With yesterdays climb by 50% and subsequent retrace I was fully expecting profit taking to take this into red. that it did not may have been due to forming a new base price or just the Mm ran out of time to drop it further. we shall soon see. Anyone who traded yesterdays swing will have done well

This from HC today with links It is possible to calculate the expected wellhead pressure. (Reservoir pressure - static head = wellhead) Reservoir is given as .82psi/ft of depth, Depth to top of first fracture stage is 10950 feet Static head of water is .433psi/ft, but the frack fluid density is known to be a little higher than water, so use .44 as an approximate. This is the one variable we do not absolutely know Reservoir pressure .82 x 10950 = 8979 psi Static head .44 x 10950 = 4818 psi Wellhead 8979 - 4818 = 4161 psi 4161 psi is theoretical and subject to any variance in the density of the frack water density, average well bore temperature and achieving complete equilibrium within the system. I note it is in the ballpark of the ~3500 psi recorded at the wellhead after the 7 week shut in for imbibition. With the upcoming gas lift a significant portion of the static head will be removed as nitrogen displaces the slickwater in the wellbore. Less head (which acts as backpressure) means more pressure applied directly to flowing fluids out of the reservoir rock. https://hotcopper.com.au/threads/pressure-read.4151695/page-9?post_id=33121087#.Wvt_LmiFPI In the course of jogging my memory on the numbers I re read https://www.asx.com.au/asxpdf/20180131/pdf/43r5mv89d94v6z.pdf Of particular interest is bullet point two, which appears to highlight the area that is being focused on as the most likely problem child. If it is only a matter of changing the frack fluid composition it is not such a big issue going forward. It goes some way towards resolving the achieved flow, compared to the better results expected, given all the initial excellent data results from IW1 Then consider the yellow highlighted statement in context. It is strong statement "HAS" meaning to me currently is. Dated Feb 18 88e tobe resolved.PNG https://hotcopper.com.au/threads/pressure-read.4151695/page-10?get_post=true#.WvuAB2iFPIU

Now tell us something we do not know. I suppose it could be worse we could be in EDL instead.

Auson care to comment on potential recoverable assets for argos and seismic data with sqkm coverage?

We? ''I am sure WE will have news soon, good or bad.'' You get your 4.5p and back in again?

If LC is in Botswanna to get the ICPR and finalise the date for the bank feasability study. what will be the next step as ESIA and local permits are already in place?

Phoebus, has posted this on BOIL, nothing to do with the Falklands. I wonder which Pump and dump boiler room he works for. RKH holders should be concerned. ''It's getting worse. ARG is now �31M market cap with a 5% royalty in its Falklands licences, which values them at �610M on a 100% basis. RKH has a 40% stake in Sea Lion and is valued at only �196M market cap, which values Sea Lion at only �490M on a 100% basis! Are ARG's licences really more valuable than the Sea Lion Field? LOL. No way Jose! ARG looking very overdone here. Sell ARG buy BOIL.'' I think we can clearly see what this guy is all about

Agreed far more fun. we are circa up 10% on the day, thus far. Not many blue chips doing that!! If we close at break even that is still not shabby bearing in mind the rise we have had over the last 10 days.

yep heart breaking it is ony up 3X in a week, how you doing at RKH today blue or is it red?

Mister positive many of us have been here for years another 18 months or so is a blink of an eye Now you off back to inner or outer Mongolia, where news of Argos financial arrangement with Noble is just not in the news.

''On the coat tales of RKH'' I think RKH would like to think so too lol

first time since i got spiked, nasty feeling at the time , just goes to show, be patient

i am pretty certain that the rise in sp is chart defying as is where it is going to go next. This is going to be a pure fundamental driven share. what the fundamentals will be is a guess

Yaki ty for that

the header says swahili, then english. the language does not change. wonder what it says.