Member Info for Mirasol

"You are so dumb it is believable. The company simply cannot raise “billions” via a placing. "

So where is it going to come from Adrian? And who is going to invest hundreds of millions in a venture fronted by and managed by SS & UKOG?

"I wonder why the previous project which was going to cost less than the one UKen have proposed failed?"

The Portland Gas project , amongst other gas storage schemes , failed because neither the Labour or Tory Governments would allow the gas companies to add the storage costs onto consumer bills - it would have been pennies per person but they didn't - that's why we have the lowest gas storage capacity of anywhere major in Europe

"using existing salt caves which are ideal and natural. "

There are NO existing salt caves Adrain - they're like your famous HH export pipeline

The plan is very like the old Portland gas/Infrastarta plan 15 + years ago - they reached a market cap of £ 380 mm and still couldn't do it Adrain.

The total costs then were over £1bn - so where will the money come from - not the Govt - they don't have 2 beans to rub together, it would have to be a super major (and are they going to invest in the UK knowing the way they get taxed) or financial institutions - and how much of a 1Bn project can UKOG take - less than 1%

"For the same reasons, I think it extremely unlikely that RoI will either make or consider accepting any type of 'deal' - even if common sense dictated otherwise."

Agreed - some of us have been saying this for years - the point is there is no PERSONAL damage or risk to anyone on the Italian side while they draw the case out - at the worst they tell the voters (if anyone ever asks, which I doubt) that they're "protecting the interests of Italy" - think of the Italian equivalent of the mail or Express to see the headline.

" Focussing on energy security will eventually lead to a rethink about fracking."

If the events of the last few months show anything it is that any UK politician will run a million miles rather than try and resurrect fracking

"This process will take weeks, if not months rather than a week or so that some on here mistakenly believe to be the case."

Agreed - but that won't stop the day traders from trying to whip up a spike a couple of times a week

"they don’t lose the dividend by continued shorting. oh well.."

rampers blaming "shorting" = price is falling again

Still here RT? You promised to walk off from LSE - remember??

They've raised £ 25 mm since end 2019

"Any bid received will already have priced in any potential change to EPL."

I don't think anyone has the slightest idea what changes they are going to make (if any) - it sounds like anything that was being discussed in Truss time is out of the window and they've started with a clean sheet of paper. Why would anyone bid now when they can wait 5-20 days and KNOW what the levy and tax regime will be? I can remember when the Govt (Camerons) decided to double the tax on oil companies on the morning of the budget as they discovered they'd made an error in some calculations and needed more money before 13:00 that day,

". It's inconceivable that HUR managed to find, on it's first drill, the one and only sweet spot in the whole Lancaster area. "

It does happen I'm afraid - Beatrice in the Inner Moray Firth was a very early discovery and many wells were drilled later without finding anything significant nearby - and of course Wytch Farm - no one has found a anything a twentieth of the size onshore nor south of the Mid N Sea High.

There were 18 fund raising, & diluting, issuances of shares from Dec 2019 to 12 Sept this year as far as I can see

I only listed the larger ones yesterday

"Mirasol is another activism account that lies o"

Come n Adrian - what "lies" - are you saying they didn't have 10 raises in 3 years?

No-one will bid until they've had time to look at the details of the mini budget - not the headlines this week but the Treasury and Offshore Taxation Office Guidance over the next couple of weeks

That's date/issued shares/ price/£ raised/ Shares in issue

eg
12th sept 3.428, 571, 426 issued at 0.087p raising £ 3mm total shares 21.069 Bn

I make it at least 10 raises since Dec 2019

12-Sep-22 3,428,571,425 0.0875 3,000,000 21,096,376,104 3.025141084 Placing
27-Jul-22 1,428,571,428  0.0875 1,250,000 17,667,804,679 2.533496821 Placing
27-Jul-21 256,974,621 0.18 £462,554 16,239,233,251 2.328645045 Open Offer
05-Jul-21 2,763,888,878 0.18 £4,975,000 15,982,258,630 2.29179585 Raise for Turkey
11-Feb-21 412,475,262 0.133 £548,592 12,886,860,312 1.847927359 Raise for 2nd PW payment
02-Oct-20 1,374,999,993 0.16 £2,200,000 12,474,385,050 1.788779956 Raise for Turkey
04-Jun-20 2,100,000,000 0.20 £4,200,000 10,838,995,288 1.554271207 04/06/2020 raise £ 4.2 mm
28-Apr-20 637,500,000 0.20 £1,275,000 8,486,797,492 1.216974879 28-Apr-20 placing
01-Apr-20 255,102,041 0.39 £1,000,000 7,821,571,059 1.121583908 01/04/2020 tellurian final
02-Jan-20 331,125,828 0.75 £2,500,000 7,322,645,119 1.050039802 02/01/2020 telluran jan

02-Dec-19 235,294,117 0.85 £2,000,000 6,973,683,381

what's teh point?

That's diesel and it's costly because we don't refine enough in the UK - quite a lot comes from Russia - it has no impact on the Price of oil or EDR - just means someone like Jim Radcliffe will look at changing over some of his UK refineries

"1/ farm-out of Loxley gas project (although there is no time limit on this);"

Loxley/Godley Bridge 3 has been available since around 1988 - and no-one has taken it so don't wait about ..........

"via a geothermal energy hub conversion at Horse Hill"

you're getting mixed up Adrian - they have never suggested geothermal at HH - it's too shallow for a start