Member Info for Mirasol

You realise Shouldhavedone that that's all gibberish................

"No, with him and his tagteam"

Gideons aka Fool on the Hill isn't part of a formal team like the 40 odd newbies on Friday - he Adrain - a real loner who has issues that drive everyone else away. He snuggled up to Steve Sanderson at UKOG but they dropped him like a hot potato. He has nothing else to do but believes he's a great trader. Also tends to resort to abuse late on Saturday nights

Alba 202 Accounts state in the section on HHDL:-

"In the prior year the Company elected not to contribute its share of a cash call. As a result the Company's share holding could be diluted but the impact would be minimal, the reduction being less than 0.1% of the total issued share capital of HHDL"

"

202 HHDL Accounts show that "Borrowings" are down for UKOG but up for Doreimus & Alba

So some of the income was used to pay off UKOG but Doreimus & Alba aren't paying and the amount "loaned" is going up IIRC someone went through all the paperwork a couple of years back and noted that there's some sort of shareholders agreement that makes running them off almost impossible and they only pay 0.1%

Ocelot - are Alba paying their way? for a long while they weren't - suffering a minuscule diminution in their working interest each year by not paying

"Rkh is the only UK oil company who is plummeting today."

those two fabulous investments ANGS & UKOG are also down - but of course they don't produce anything much either

"act as a catalyst to the Falklands development getting the green light from the UK government, and perhaps financial support? "

It's never had anything other than a green light from the FI govt and the UK Govt.

the problem is the oil companies who won't invest in what they perceive as a non-core area with a varying degree of political risk. No UK Govt will pour money into an oil company any time and least of all when all the headlines are about "rip-off profits". And if they ever did there are better investments much closer to home in the N Sea and West of Shetland where any jobs would be in Teesside or Aberdeen

"given it’s vast WoS acreage "

which needs a large fortune spending on it to find anything. I think its about time the BoD outlined the strategy for the period after all the bond holders are paid off

yeah - not a lot of point posting on say BP is there?

"One obvious candidate is super major Shell"

Adrian - I posted a while back that SFB would produce 2-4 mmcf a day net ANGS - Shell produce 9,147 mm scfd a day currently

yeah , sure, they're looking for another 0.0437 per cent from SFB...........................

"But (and as you chose to ignore) GP Holdings and the Langs are in favour of the SOU all confetti "possible offer"... why?"

Clearly they don't think anyone else will bid 1.50........ or bid at all..............

· Current daily production figures range from 600 to in-excess of 700 barrels of oil per day from the Ashover Grit reservoir, constrained on a restricted choke
· Well continues to produce under natural flow
· Zero water cut

"Mirasol.. What you have just written is absolute nonsense and demonstrably untrue..."

its ABSOLUTELY true dear boy - a CPR is not required by the OGA or the Govt - it's purely for the "protection" of people who wish to invest in the company

If you're big enough you don't need them - ever see a BP CPR?

The company gives all the reports to the people doing the CPR - not the other way round

https://www.rpsgroup.com/services/exploration-and-development/reserves-and-independent-reporting/expertise/competent-persons-reports-cpr/
"Services »Exploration and development »Reserves and independent reporting »ExpertiseCOMPETENT PERSON'S REPORTS (CPR)

What is a Competent Person's Report?A Competent Person's Reports (CPR) is required as part of a prospectus or admission document for an oil and gas or minerals company in its Initial Public Offering (IPO) or to support other public fund-raising initiatives. RPS has delivered hundreds of reports to banks, accounting firms and financial sponsors who rely on the CPR when raising money on the capital markets, or to support merger and acquisition (M&A) activity, and have been a trusted CPR provider since 2003. Although the Competent Person (CP) is engaged by the Company, the function of a CPR is to provide an independent view on the Reserves or Resources of the Company's asset(s) for potential investors. For public listings the CPR should be dated not more than six months from the date of the prospectus."

"The previous 500bpd aspiration was based on the old CPR wasn't it? If so, it was obviously conservative to a fault."

More likely the other way round - EDR had done the studies that indicated that 500 bopd was possible and that data was used i writing the CPR - the companies owning these assets never use the CPR for guidance - it's purely for outside investors information. If you don't need the money you don't do a CPR

"Nice to see Sanderson is loading up, it's surely a good sign that he is making a significant investment in the company. What does he know that others don't to make him part with £1k of his very hard earned cash? Choo choo!!!!!!!

Another badly briefed ramper who has no idea of the history - that SS HAD to sign up to buy stock after there were moves to run him off, that he waited as long as possible to actually buy and that he' is forced to buy £ 1000 a month - roughly a days pay to him

I see they've invested in another 6 new pumping ID's this morning

doesn't seem to be working

"They and others will need to up their bids to 2,3 or 4p minimum"

no-one is going to bid that when they can buy at 0.8p over the counter

"Same goes with Numlungo. Check his posting history today. Multiple deramping AiM oilers."

But Adrain - you yourself have just turned against UKOG (for teh second time in 3 years) and what AIM oiler onshore UK had been a decent investment UKOG, UJO, ANGS, EDR Europa......... and they're the ones that haven't gone bust like Northern, Third and Celtique

"The Conservative party say they want to promote Fracking in the UK and they say they want to promote North Sea oil companies"

https://www.telegraph.co.uk/politics/2022/02/13/fracking-ban-must-stay-uk-not-utah-insists-minister/

Not so I'm afraid - a few MPs (mainly ultra free marketeers) are in favour but No10, the Business Secretary and others are still against

they remember that the Tories lost Beaconsfield over possible changes in planing law

"ust crying because his short hasn’t worked out!"

No-one has ever been able to show how you can short these small oilers - you can't because its a one way bet - no -one will take the other side

you should be more worried that an all paper offer from SOU at 1.5 p may be the best we' re going to get