Member Info for Mirasol

CEBO is correct - any CPR is not for the Company - it is for outside investors. Any company will stick to their own plans and estimates and carry on regardless.

" Big Brexit win."

Like all the others we've seen over the past two years I guess - higher prices, lack of goods in the supply chain. loss of key workers, more illegal immigration, the wheels coming off again in N Ireland , and of course all that money for the NHS as promised on Boris's Bus

"I take my information from elsewhere"

Adrain - we all know you make it up as you go on - remember the famous "secret" pipeline at Horse Hill?

"How much would 6 wells cost?"

£ 1 - £ 2mm each depending on the number of drill sites

Problem with these warm water systems is getting the customers to agree - it seems to work fine in the Netherlands but the UK is famous for it's lack of joined up thinking

"We know from the past GL releases information immediately it becomes available."

except when it involves well tests, financing, progress on construction etc etc

"Can’t believe he has destroyed the sp by 99% and still keeps his job and picks up a ridiculous salary."

How can anyone get rid of him? There are no large PI investors and the only II's are the ones used to make money when they dilute. He's managed to remove partners in most of the licences (other than Turkey) and so there is no-one to say stop. One of the Directors has a declared interest in past work given to his companies by UKOG. The other NED has never said a single thing in public.

It's a classic AIM company - one of the things that makes the City of London the envy of other in World Finance.

"Not seen the moron of the hill for a while."

he's over on ANGS as Gideons - same old rubbish - at least they (almost ) have a real pipeline

"So what are we waiting for? It’s unnerving to be honest."

The Tribunal are a law unto themselves - they can do what they want when they want to.

They have no duty of care to anyone. They don't know about small shareholders and if they did they wouldn't give a monkey's.

"2nd one without actually drilling any new wells),"

and the first one was done without any production data - the wells went to water which proved that Trice was talking nonsense - that's why the reserve numbers fell in CPR2. Another CPR cannot ignore that as it is a fact.

"A placing is no different than you and I remortgaging to make improvements to your property, so bring it on, the futures Ukog! Gla."

How many times will someone let you remortgage the same property diluting their interest to 10% or less of the original value Ian?

"What's to stop current shareholders/courts from believing the opposite argument. "

Science? water in the production wells? down to one well producing???

Trice was wrong - a lot of people in the industry were very sceptical (which is why no major bought in) and they proved to be right. No-one else has tried to follow the play either

"Anyway my point was that Royal Dutch Shell made an oil discovery in the Falklands in 1996 I believe (or within a couple of years) and they decided it was sub-economic even though they recognised it had the potential to contain hundreds of millions of barrels of oil."

they didn't - they drilled a well that missed Sea Lion by less than 2kms but there is absolutely no indication that they made "a discovery" - they may have found some oil traces but most oil wells do.

I'm no fan of Sam & Co but i'm not sure what anyone else could do int eh same place

Over 10 years they must have beaten on the doors of everyone a dozen times trying to sell Sea Lion as a concept
. they were stiffed in Italy for sure... maybe if he'd gone somewhere else it would have been better

but I'm not sure that right now anyone could do much better - which is rather depressing TBH

ROyo

can you write in English for once?

I might recommend you if I could only understand what the hell you're posting.......

Trice was wrong - over-optimistic - just like Steve Sanderson with his Bn bbl in the Weald at UKOG - or going way back Art Millholland at OILEXCO

that's the problem with explorationists - they get carried away sometimes

How is it possible that an independent assessment carried out in 2017 is able to produce in place volumes for Halifax amounting to 5,143 MMstb (best estimate), up to 9,043 MMstb as a High case, when only a few years later, without any more wells having been drilled on the discovery, its volumes essentially disappear from the radar?”

Simply because they have the production history for the period in question - that's all solid, verifiable data and far more accurate than Trices over-the-rainbow dreams

And you clearly need to read the weasel words in ANY CPR - its impossible to sue - it's "our best opinion at the time"

you'd have to PROVE the consultants had deliberately bent the results...... it's never been done AFAIK

"and try and get central Government involved to allow these wells and side tracks to be drilled"

they'd have to change Planning law - and when they suggested that year or so ago the Tory party in the country went into melt-down & they lost Beaconsfield (Beaconsfield !!). the bigger your house the more you have to lose by a change in planning regs on oil & gas.

" it would seem odd that some of ANGS's chunkier shareholders are in favour of the SOU paper offer. It would be useful to know why."

They may have a lot more confidence in the SOU management? After all they are developing gas in Morocco

It's a waiting game right now .

No-one is going for quick knock-out bid and the fact that SOU have put a price (although not firm nor formal) of 1.5 ish will influence any other bidder. You're going to have to be very certain of your numbers to bid 3p for example. Some, if not all, of the other bidders will be small fry - the UKOG's and UJO's of this world - and they will want to see if SOU go firm and if they do will the ANGS BoD accept the offer.

At that point they can decide to go firm with a competing offer and have a much better idea of what it will take to win. No-one wants to leave cash on the table with the "Winners Curse".

"Why don’t the great unpaid and unwashed de-ramper’s get the same hassle."

because it's hard to argue with people who tell the truth.

Heid can bang on with silly songs and crazy valuations - the other side just have to point at the destruction of value and dilution here over the last few years

One is dreamland (at best) and the other is, unfortunately, a fact