Member Info for Mirasol

"Interesting that Navitas provided the boat to transport the heavy machinery down south."

Almost certainly becasue they'll need to build/refurb their Stanley base - might as well have it on site and working in advance. Its hard to get them delivered by Amazon Prime down there.

Without an update from the company we can't be sure. And no-one lives close enough to go and see what is on site. Certainly looks like they 're still busy working on one well bore.

"what are your thoughts on US shale and the ability to react to higher prices with higher production? "

The US can react very quickly - they've proved this in the past . Because of the availability of kit and people and prospects they can move from bust to boom in a very short time (compared to international and offshore). Plus of course, there are few administrative issues

"The lack of reserves/replacement has surprised me."

partly it's because you have a number of projects in the pipeline and under construction. If the oil price goes down you have to devote more of your income to keeping them on track. You postpone as much of your forecast expenditure as possible to and maintain headline profitability for the next few Quarters results. The Stock Exchange doesn't value anything else.

First cut exploration, then apparisal , then new ventures. Defer any new projects. Then cut people (which is REALLY stupid as they cost almost nothing)

You can always buy reserves in the Stock Market if you're a first mover when the market turns. I think that's a likely scenario for the disapearance of RKH - not when the OP is high, but when it's recovering from a low and someone needs a quick fix.

It's not a big issue. I can't see them ever drilling a well on their own. They'll be following navitas and will only have to find 35%. At todays prices that $7 to $ 10mm a well more or less

Lets guess.... maybe the one that's owed £28 million?

Tho they'd have to install a puppet administration. But they have that now, and the stock isn't quoted, so that's another irritation they don't have to worry about. It's effectively a private company right now . We have no say , we can't sell or buy.

Remember that a lot of the RKH cash flow from production has to be used to pay the carry from Navitas. 85% of their free cash is committed to paying back the loan

Comeback Lev! we've missed your yearly contribution:-

Lev61 Posted in: ANGS Posts: 29 RE: RNS!22 Feb 2024 07:45

Finally. With finance secured and the MOU engaged, what a great recovery stock from here.

Each well will be completed across the reservoir section and downhole immediatly after it's drilled. They may wait a while and then bring in a vessel to complete the well heads on the sea bottom as a batch - depnds on overall timing. The FPSO wil turn up and be positioned. Once that 's done they'll start to connect the FPSO to the sea bottom well heads and the line to the export buoy (s). Loads of boats zooming around and people getting excited but actualy relatively routine TBH.

The only real guide we have is when they said trhey wre paying the trade creditors but not the finacing debts. I wonder how fast that debt is actually increasing - it must be horrific by now after 9++ months

I've ner put anyone in the green box - it's too much fun seeing how dense some people are..................

ResRes just pours out abuse - I think its PettieTrashbuck (who seems to have otherwise disapeared)

"In 2022 Steve ("my background is big oil") Sanderson bought £1000 worth of shares each month for a year and finished up with 12,457,310 shares at an average of about 0.1p. His purchases represented just 3.5% of his salary."

IIRC there was all sort of action around the AGM and he had to do SOMETHING after years of not buying a single share - it worked out that even if he lost the lot (which he pretty much has), it was less than half a days work a month. And of course he stopped the second that he could.

ResRes Posted in: ANGS Posts: 59 RE: Supporting UK oil and gas production23 Jul 2025 10:38

Bubble maybe you do maybe you don’t, only you know if you do, but can you answer the simple question, are you invested in this company?, and when?,

I also work in the gas industry not the oil tho!, and have done for nearly 10 years, but mean is in sense renewable energy

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so you work in the industry and can post but BP can't??????

ResRes Posted in: ANGS Posts: 59 RE: RNS22 Jul 2025 16:03

You was right about the RNS coming Monday, all the bashes was slagging you off!, they looked like fools!!, muppets Can I ask what you was referring to with the 0.42?, Am still invested in this company, made some good money at 2p, brought back in at 0.72, so hoping things come good again on relisting and a good rerate if all goes to plan,

But the Govt have never invested in long term storage. They want OTHERS to do it - large, integrated companies with very deep pockets. Not a bunch of AIM shysters

"as we both know you don't work in the O&G industry!!" Evidence???

I wasn't asking you BP - I'm pretty sure you do - I was asking ResRes - who looks like a new ID for adrain/OTM/Pettie - the same absence of facts and presence of mindless abuse

I doubt it - I am begiing to worry that the continued anti O&G stance of teh Govt will drive one of the smaller onshore oilers onshore into the hands of the receiver. At which point the whole pack of cards may come crashing down due to the joint & several liabilty for abandonement in various joint ventures which have overlapping owners.

"as we both know you don't work in the O&G industry!!"

Evidence?

"but you NEVER flinch, not sure why or how you manage that,"

Being paid clearly helps....................

"Folks claim anything. £1 by Christmas, anyone?"

Ahh - now you'll HAVE to leave posting on LSE if it doesn't reach a quid... :))))))))))))))))))))))))

I seem to remember someone else making that promise???