Member Info for Mirasol

"Upon reaching this next key operational and budgetary decision point, expected by mid Q4 2022, the Company would at this time need to seek further financing for its share of the Basur appraisal well and for working capital purposes to help fund its other significant projects."

So another dilution to come

I suspect they're in a spiral - they can raise less and less as time goes on -so they have to pay over the odds for each small piece of work - eventually it'll be a few hundred k to keep the lights on.

Also interesting that the last raise was exactly a year ago 256 mm shares at 0.18p - that's a 53% fall in a calendar year.

"I foresee some kind of criminal investigation coming closer and closer."

Really? On what grounds? UKOG are past masters at the perhaps, estimated possible School of Aim - much better than poor George Lucan over at ANGS. SS learnt from his famous BBC interview at HH that you should steer clear of the off - the -cuff remark and avoid any tough journos - or shareholders for that matter.

"Tygra heare. Guy is a pompous, supposed know it all, when in fact is plain dumb and tries to spin an odd fact with bullsheet."

perhaps cat you could offer up some hard facts to counteract this.

Such as when is the sidetrack going to start, why are we now on 27th July without sales gas................. but its easier to throw insults around than face the facts - this outfit is sailing very close to the rocks

" to give the green light to fracking if local communities don't object."

Adrain - you might have noticed how every community where fraccing has been proposed has led to a meltdown, court cases, greenie activists and MP's standing up to trash the idea

Lest assume they switch it on this week and get their predicted flow straight away.

How long is it before we can sell ANY gas at market price? Most gas will go to the hedgers and then on 1st October that number increases significantly.

and there is no new data either

" the Company will NOW implement a pre-planned farmout programme,"

OCelot they can do whatthey want but it takes two to tango.

Do you think the rest of the onshore industry has been sitting oblivious of UKOG/Loxley/Godley Bridge all these years? Everyone of them has looked at it before - remember that Celtique tried to farm out the acreage before selling it to UKOG

Is the sidetrack - in 65 days we're on the hook for 5.19 mmscfd to meet the hedge step up.

So far no sign or sound of a rig or any other kit to drill the sidetrack. They have maybe a month to start drilling - and then it has to be completed, tested and tied in.

Given the proven ability of ANGS to miss deadlines this is starting to loom large .

Hits calculated this yesterday

"Still, given that at a spot gas price of 310p per therm as is the case right now, ANGS is going to owe Mercuria over £3 million in July alone on this month's swap contract differential.."

"Aw thanks M, pop around to mine for a pot of tea."

I appreciate the invitation

"to be fair he probably has and is just naive, im sure he didn't want to put out 4 RNSs in a row promising gas and really did expect it, but he's just got it wrong"

For once I agree with Silver - it's not that he has some cunning plan to scoop the asset (unlike the HUR Bondholders last year) - he takes what he's told. He has little experience in this sort of thing and he's doing himself no good. The problems lie deeper in the organisation - someone is employed to do this commissioning job and they've failed miserably - and worse they aren't telling the top man the full story - or at least they have been minimising the risks.

Some possible names occur based on the company's history

". Loxley doesn't even have a CPR so that's a real negative to any farminee imo."

Disagree - anyone farming in will do their own due diligence not depend on a third party - but for sure they'll note the history and the remarks by others such as XODUS. And almost all the Onshore players have looked at this before.

THE first question will be "how robust is the UKOG depth conversion?" Some technical type will be nailing their future on that answer so they'll be crawling all over it.

Mug punters... bus hit a bump :(((

Yup price is falling as we speak...............

"Wouldn't be be surprised if he ends up with a lawyers letter soon, people thing they can hide online .."

Since he quotes from Company documents I REALLY doubt the BoD would want to turn up in court to face questions about their performance.

"… and just 29 days to go on OM! "

Unless they apply for a 60 extension of course - which they probably will

"they will have nothing negative to spout about soon!"

except the SP which continues its downward trajectory

"Quality post Baits."

Are you still planning to leave us RT if the SP isn't 5p on First Sales Gas - after all - you did promise - you even said you'd taken a screen shot of your promise?

I hope that forked rod came from a company owned by a Director of the Company.......................

"Hear that loonies? The oil is coming out regardless!""

I hate to tell you Shareflyer but it's a gas field............ at least that's what GL has told us.....

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