Member Info for Mirasol

"I have to say having a few years experience of taking pictures of well sites that people should be very careful about what they think they see in photos. It is very easy to completely miss comprehend what you are seeing and post guess work that is wrong"

Indeed - I remember someone posting pictures of an "export" pipeline at Horse hill a couple of years back Gideons......

I honestly can't see what better result people were expecting here - SL is badevelopmen t is back onteh rails with a company that has the cash to be ableto do it and, more improtnatly , the will to do it. RKH retain an interest at the cost of a loan and reduced income when and if the filed is onproduction.

The alternatives were that the whole thing would fail or that someone would come in and reduce RKH to a small override (as happened to Argos a few years back)

Sure it's still a long haul - but that's better than instant death no?

GavinM Posts: 14 Price: 1.225 No Opinion
RE: Mercuria and the hedgeToday 16:54 10 April 2022
Shell on their way
Slight delay caused by several documents missing acknowledged by Mr Lucan but now rectified thankfully
Expect that bid now by RNS 7am Tuesday

"If we were to follow your rules "

Adrain - it's not me who keeps asking the realists "AREYOU INVESTED"

Might run a sweep on when you'll fall in love with SS again - just for fun you understand....................

".....and of course that totally ignores the 2 companies doing due diligence over an offer"

Suspect like everyone else they won't commit until they see first gas

"If one of those 2 companies is named as I strongly suspect,is oil super major SHELL. "

GivenShell's overhead charges sending in a team to look at AGNS for a week would use up the whole value of a deal. And all for 1/54,000 th of their daily production.........................

Gideons/Adrain

Are you invested here? If not go back to ANGS

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

"Had enough of this non investested derampers...."

truth always hurts eh?

"No it gets boring being very repetitive with your copy and paste..."

Well if you stopped your nonsenical ramping we'll stop posting your past history

"I've a simple little .doc file on my desktop where I store those posts I find to be particuylarly amusing."

SNAP!!

they hate being reminded of their past words

"Mirasol how many oilers have you derped so far this weekend?"

All the underperforming & mismanaged ones Adrain - you should know - you **** of UKOG all the time now

"the most difficult part of the Award will be the Quantum. "

I think it'll be trying to get a single euro out of the Italians this side of 2040

Gideaons Adrian

can we apply that to your posts on UKOG here you've been dearamping ever since you fell out of love with Steve S?

"The Copy and Paste merchant strikes again. It must be like having a stalker."

Simples - just admit how wrong you've been

"What I would say was when I said to Malcy , whom I have much respect for"

Says it all really - Malcy -for heavens sake.......................

"At the time, the international bank with whom they held discussions required a minimum size of $20m."

IIRC Barclays closed their UK oil lending in the early 2000's for that reason. BIG projects were financed by the large oil companies directly, small projects were either too risky or only generated a couple of million in fees and income. It just wasn't worth having a specialised team to look at it. I remember one small oilco exec saying they were told to approach the local " small business manager" in his nearest branch for £50mm.

These day there are some "boutique" players who lend on smaller projects but it has to worth their while

"Would you please explain a dividend to me Thanks"

A mythical occasion when people who have made a fortune out of running a company that never makes money gives back the smallest possible amount to long suffering stockholders - which is then taxed

"I am very certain they will do a divi or share buy back but lean to the divi"

regretfully the City shysters prefer a buyback - it's much more tax efficient for them - not us of course

"Everyone seems to forget that UKOG only had about a 30% share of the Horse Hill recourses in 2018 not the 86% that it now has."

it would be cheaper to buy the oil at the local TEXACO station

Given the amount of cash this could produce it would be crazy to go drilling for new reserves first - they MUST buy a producing asset ASAP operated or non-operated - it doesn't matter. Exploration in the UKCS is lucky to have a 38% COS - and then you have to appraise and develop.

The current cash flow is dependent on a single well

That's a very risky situation by any measure