Member Info for Mirasol

I honestly think people should take a more relaxed view about these small variations in the daily rates. They really don't mean anything. Most Petroleum Engineers look at a MINIMUM of 3 months worth of date to take any view and even then they hedge their opinions.

Its useful that someone posts the daily numbers but you need to look at the weekly/monthly averages to monitor the reservoir. Obsessing over a single day that is a couple of percent different from yesterday is really madness. Up or down it doesn't matter. Check the trend - and my numbers suggest it pretty flat

"They've rescheduled a meeting because of postal delays, what's wrong with that."

IIRC Northern/Cabot once held an AGM and one of their shareholders objected at the start of the meeting that they'd got the dates wrong and hadn't given enough notice. He was right and they had to cancel the meeting on the spot and recall it for days later - after they shot the Company Secretary.

Embarrassing

"Could have something to do with the cold weather. "

I rarely agree with Baits but he could have something here . IIRC UKOG 's HH production shows some indication of being weather related with lower numbers when it starts dropping towards 0C. Mighty affect some of the kit ??

"GOR is a "Gas to oil ratio""

i was talking about reservoir performance across the oil & gas sector as an indicator of how well any reservoir is doing - n the case of SFB the pressure data and the water cut are the things to watch as well as the production rate - elsewhere you'd add the GOR

"George Frangeskides of Alba who considers Horse Hill's value to be "largely untapped"."

Alba - another lifestyle company that have never achieved a single thing other than to raise cash from the unwary

"You know what they say the Longer the consolidation period, the bigger is the movement on the breakout."

What they actually say it's "It's finally gone bust" - look at the list of small oilers on in the UK - only Tullow started onshore and became a medium sized oiler - and that's was 40 years ago - the rest? Long gone

"i dare you to short it from here!!! haha!"

Impossible to short small oilers on AIM - no-one will take the bet - its a one way ticket

these small variations in production flows are very common - just look at historic data on any oil/gas field. It can be due to all sorts of small changes none of which are really important. Its only when you see a trend - probably over at least a month - and perhaps increasing GOR or water cut - that you should start to worry

"Every day it takes to do the work 700ish bopd are lost. Approx £50K per day"

I think that's too high - and its not "lost" its still down there - its actually "deferred"

"Mirasol when are you leaving"

At the Greek Calends BV

"Our wg/ruth has been coming out with the same posts when we had a 6 million market cap,"

SP isn't going very well is it?

Still under 2p

Ocelot - how in Gods name will UKOG ever reach 0.24p?

they don't have enough money to do anything right now

"2 sells already , more shorting???"

:))))))))))))))))))))))))))))))

RE: where areToday 10:25 Good Friday 15 April 2022
Certainly 5p Donek
I'll happily (screenshot sand dune) walk away from LSE should we not be at that level on the day we connect to the Gas Grid Rest assured I wont be needing to leave.......

but still here - still lying through his teeth

Is that RT003 who was going to walk away from LSE?

"With that GOR, they are already below the bubble point. Poor reservoir management."

Not sure that is so critical in these reservoirs with a single producer. If it was really gassy then yes you might bet some problem around the well bore but this is really just pumping away steadily with gradually encroaching water. Can't see a vast amount of gas breaking out and forming a gas cap that would affect production.

The issue medium term will be the water - historically most small UK fields are worth running down to about 40bopd IF you can keep the water disposal costs down. Once it reaches 50% you are in dodgy territory

"Mirasol, you forgot "and a spectacular track record of poor decision making".

Apologies !!!

"or just here to put a negative spin on everything?"

says a newbie on here who is admitted day trader and who only has posted ramping stuff - same as he did over on BOIL before leaving

" with another company that has the financial clout to optimise Horse Hill "

It won't work - the Portland is clearly a relatively small field - it behaves well but the drop in production is very steady, very predictable - there just isn't any more oil there other than they've mapped and they will see extra water over time.

The Kimmeridge clearly has oil but when you produce it it exhausts the fractures and and they don't recharge fast enough. Thats why its never mentioned these days.

There is no upside, and nothing can be done however much someone spends

"They appear to be pitching for recognition as a major infrastructure project - we'll see how that progresses."

No-one in their right mind would entrust s a "major infrastructure project " to a dozen in a office in Guildford who have no experience of large scale projects