Member Info for Mirasol

Baits - if it was so good why did they pay ANGS to take it away?

"Mirasole are you suggesting like your friend there is no pipeline at Saltfleetby."

I never said that Adrain - you really are as big a pain here as you were over on UKOG

"Baits ofcourse is right and the greens are talking hog wash as always."

It was such a great field when they stopped producing the Operator paid ANGS to take it away..................

Adrain brings argument to a completely new level I find....................

Be thankful for small mercies - our old friend is busy over on ANGS........

well she/he never descends into abuse...............

or writes cringing poems and songs

or discovers secret pipelines or salt caverns

I seem to remember the concept of a farm-in is specifically to avoid a "payment" for the interest - that , in many jurisdictions, would be a taxable income whereas getting someone else to pay for the work is not so obvious. And of course they only come onto the Licence AFTER they've paid

Baits is an old school ramper - straight in with the abuse................

Ocelot you are clearly wrong here

UKOG have to pay UP TO $ 5mm for the first well and seismic - that's almost certainly going to happen. They could have been lucky but it didn't work out. AFTER that they pay 50% on an ongoing basis as a normal Joint Venture partner - there was no payment to get on the licence it's a simple farmin arrangement

Also have to keep a careful watch on the Ring Fence rules .............

Good to see Adrian (currently Gideons) is giving the UKOG board a rest and is over here for a while

Welcome dear friend!

PS REMEMBER! they have a non-secret pipeline here -so don't get confused

it was you who mentioned the vast salt caverns dear boy.... in sand! My goodness !!

"Sufficient funds remain available to deliver the planned sidetrack "

But they also say they haven't planned the S/T yet............ so how they know the cost is beyond me

"Who are this guys reporting to?"

Basically themselves - they're a sort of arm of the World Bank IIRC but they aren't interested - no-one is ever interested except those in litigation (sorry - mediation). It's run by lawyers for lawyers which is why it's the absolute last chance saloon - you do anything to avoid having to go there.

"it's because SBY have a storage facility of 15% of uk gas production for hard times!"

In the famous salt caverns eh BV?

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

"And how long to map out a new trajectory if the seismic shows the one that they have planned is no good or they need to place a new pad elsewhere?"

Assuming they can agree -and past RNS's have suggested they aren't always in agreement - then a new trajectory can be calculated in a few hours and well design for it in a couple of days. The problem will come if they need a new pad - permits (even in Turkey) take time and then you'd spend a month building it. To be avoided if possible

"We expect a definitive result from our Formal Sales Process within a sensible period of time"

that's even worse than the "Imminent conclusion of the loan" a while back - that was 'bout 9 months..............

"So how long to ferry a couple of trucks? Process one line of seismic …"

2 weeks to get to E Turkey - processing - maybe a month - they'll want the statics solution to be as good as they can possibly make it - and that's a time consuming process with a lot of manual input

What's interesting will be to see if the two companies agree on a target........

"Only management know the identity of the potential bidders ... and they aren't telling."

Well... the RNS never said "including a major oil company" did it?

Probably Steve at UKOG offering even more confetti..............

at max rate SFB would probably keep a town about the size of Reading in household gas

Why would Shell be interested in that? About 3 thousandths of the UK domestic market