Member Info for Mirasol

The real tradgey is that even a 30% increase in production would still leave them wayyy below the CPR forecasts.

And it was those forecasts that the hedges and the financing were based on. They'd need to DOUBLE production to even come close - and that wouldn't impact the historic shortfall from just after first gas.

" Let’s just hope for a 30-40% boost on the workover completion. Is that realistic? Or too low?"

Who knows? they could tell us what they expect but they never do - becasue they have almost zero confidence in their guesses. Sometimes they work , sometimes they don't. The web is a poor guide as you only normally hear about the sucessful ones and not the failures (unless you're on the inside).

Daily reports show almost no production for 3 days so far - looks like a work-over for sure.

"Yep, looks like news is on its way" RNS Monday, another Dilution & Raise on Thursday

"A comprehensive review of all of Union Jack's projects in the UK and USA will be issued in January 2026."

and who will do that? Th eBoard of course .

So expect a load of soft soap , "aspirations" and "indications" - no-one is going to say "we screwed up"

How can it be in anyones interest to produce at less than commercial rates???

The original name was French.. iles malouines or similar. Hence Malvinas in spanish. It was later the FI.

The convention is to use the one from the language you are speaking.......

" refinance the full £29m on better terms."

and who will do that for them? They have an appilng track record of delivering anything on time, on spec and at cost. They are a byword for screwing things up. And they don't pay their bills. Good luck negotiating a better deal with that credit history.

I suspect even the Mafia would steer clear

"Mirasol how much money you think they have now? I reckon substantial "

I'd say they may have money in the bank but that all belongs to Trafigura and all the other people they haven't paid. They owe millions

"we have the GoA deal in the mix. Further I’m sure there will be a new well soon so there is all to play for."

The deal, which only seems to exist in the minds of SP Angel, has gone quiet or dead. A new well? Where will they find the money? And you can bet the Govt & Greens will throw everything they can to slow any further drilling. Plus of course they completley screwed up the last one.

Sudden drop in Production yesterday . Might be the start of the workover

Can't see any relist until it's finished and they can calculate (March according to the last RNS) the forward production forecast for the financiers.

ANGS have been suspended for 233 days. There is no obvious reason why they will change that soon.

The company has referred to a workover in Dec/Jan (tho' no sign anything happened in December looking at the daily production) and that results won't be clear until March. They may have started this week.

No-one is going to agree a financial package to get them out of the hole they are in before seeing those results.

We're probably looking at Easter at the earliest for a relisting and restructuring

China gets less than 7% of its oil from Venezuala

"Interesting wg818 and mirasol not posting all day then within 8 minutes of each other"

Maybe we got out of work at roughly the same time Young shaver... work - you know - productive work - not sitting as some creature of the PR dept as Ocelots minion

"Exactly James, these folk just have no clue about the corporate world."

Adrain - the man who brought us the Horse Hill Secret Pipeline

"Good updates on the new broker (same as Rockhopper) and the new VP of Operations. Both look like sensible appointments."

The new VP has a srrious record and is, I understand, very well thought of in the Industry. I think she's ex Talisman, Shell and Impact

"Would not be surprised if RKH board were railroaded somewhat into the 53p placing price to guarantee that the funds were raised, felt very rushed at the end."

I wouldn't say railroaded - pressured a bit yes - but mainly by the Folklands Govt who seem to have insited that all the finacing was in place BEFORE FID , not after it. And given how tiny RKH are and the difficulty of getting any finance in London for what is, by City bankers terms, a small deal..... but Navitas stepped up and found people who wanted to play - which is good for everyone in my book.

63 million shares dumped in 4 trades.....................

Or the 20 million sell................

" The Warsaw pact was abandoned so why not NATO."

because all the members, other than Russia suddenly had the option to leave - and not be invaded as Poland, Hungary Czechoslovakia had been in previous years. Some of them joined NATO instead - and since putin went crazy the neutrals in Sweden and Finland have joined as well