Member Info for Mirasol

"Dr Robert Trice, Chief Executive of Hurricane, commented:"

he was run off for gross overoptimism

Albie - the Minister for Energy said they wouldn't restore fraccing yesterday or the day before - in his own words - not your interpretation

"In light of this bonanza will Centrica review it's decision to sell it’s stake in Spirit Energy?"

No - it would require the management to admit they were wrong and that will never happen - you have to wait 3 years for a change of personnel before they can change tack

UJU ANGS RKP (Rock Hopper) and UKOG.

Care to tell us what their price was 3 -4 years ago and what it is now Adrain?

Its not deramping - it's recognising the facts

"UK Government should pull out all the stops and help production start ASAP from the Falkland islands"

spend taxpayers money on something that will take 3 years to start producing? You can do the same by just INSTRUCTING the N Sea companies to open the taps and forget about long term reservoir management - the Govt has the legal right to do that

".but surely best positioned is our very well paid CEO.
He should be on to the relevant Govt departments lobbying for a rethink of our energy supply strategy"

you think the Departments will pick up the phone from the CEo of a tiny oiler? hell - they hardly listen to BP & Shell

"Wow - nearly 1.2m shares traded in the last half hour. Market Makers must be bricking themselves."

yeah £ 9k - some of the MM's spend that on single bottle of wine.................

" a big oily somewhere "

HH produces 90 bopd - you couldn't pay the legal fees on buying them out for that

" could hh2 restart oil production even with the water problem .. might it be financially viable?"

Theoretically yes - bu t they don't have a lot of storage for water and the costs for treatment and transport are very high -

Also a danger that you bring the water closer to the HH1 producer.......

The 50 new posters who appeared last week telling us what a great investment this was?

I guess Mr Putin may have put a spoke in the planned raise................

For reference:-

Billy Basil1717 Bigfoot88 Blockwitch bope9 bornagain brillo11
Cavendish 3 charge1962 cwebb07 Earl of Aim Emperor Ezhik
Greggie3383 guldfingarz1 hope9 James007xo JohnCook Johnnie123
jonesrichard JustBe Justice2u Karlo90 Mannnan Masks mcadder
Nathan90 nkh Persian Pump.dump.repeat Pumpty RichieH9 scoopy
Shls SirJames sources Sparrowhawk Stas stockraiser The Reverand
theluckyone Topshare Twosheds andyrp Fairanayst Jackunion
Rob95 shareflyer Sm1ster wasred15

Must have cost a fortune!

"and the U.K. needs a National Oil Company to ensure energy security"

We had one - British National Oil Company - one of Comrade Benns ideas - that was sold by Mrs T to BP remember?

TBH a national Oil company makes no difference to security of suppl,y

"Do you expect Local Councillors to have the intellectual capability to comprehend this concept? All they know is Greta and climate change. "

Don't be silly what they DO understand is house prices, voters and re-election. No-one, including you, wants a development on their door-step

"Surely Reserves Based Lending would only apply IF and when FIG agree the oil can be extracted ?"

RBL depends on the Lending Company - they will have different rules (and values!) for Proven Undeveloped (ie Sea Lion with FIG approval) and Contingent Undeveloped (SL without FIG approval). Often the difference in attributed value is an order of magnitude.

"Why do posters keep on assuming the oil price will push this company valuation up?"

By itself you are right - however the idea of higher oil prices stretching 5-10 years into the future increases the profitability of any Sea Lion development which also helps mitigate against the political risk

You also have an appraised oil field - you're not starting to explore from scratch. Many oil companies halted serious exploration on 2013/14 and the conveyor belt of projects is looking very sparse in many shops. SL is an easy win for a medium sized outfit -.

" Can anyone answer this question: for how long is the Q4 2021 production rate of 10,000bopd, sustainable?"

Firstly the last monthly report was 9639 bopd this is down from 10124 bopd in November

All oil fields decline without new wells are sidetracks or other (expensive) intervention - the question is always at what rate.? The current rate of decline is low and water cut isn't increasing very rapidly so you'd pencil in 200-300 bopd decline month on month here. At current prices that's VERY economic.

One issue is the reservoir pressure is also declining - producing below the Bubble Point is possible but at that point the risk of a sudden drop in production for various reasons becomes a possible issue.

My guess is that they'll be OK though the end of the year - after that ..... who knows?

You also only have a single well - the BoD need to diversify their income stream ASAP once the Bond holders are history

I'm trying to remember any other small oiler on AIM that has done this and I can't remember a single one.................

very very interesting move

(also suggests they're not planning at taking a swing at ANGS)

"What’s your point are congratulating me for predicting it right."

How much did you make ?

Spiked on a pump and a load of people suckered in and burnt - that's what you do

Shouldhavedone Posts: 540 Price: 0.255 Strong Buy 03/06/20
RE: Tankers on timeToday 10:51

Charts looking better.
Trends changing after a long time trending down. It’s on the up.
Once this clears .2650p it’s straight back to .30p.
Onwards and upwards.

could you tell us how the leak enquiry is going on Heid?