Member Info for Mirasol

Problem is the bids will all contain weasel words that will let them off the hook in case of non-delivery

They'll be trying to evaluate simple bids (such as 1.40 in SOU paper) with say 2.00 but with all sorts of get out clauses

The FI will want to see SOME Income - but a deal can always be struck - and of course once the FPSO is in place they can always change their minds and the tax regime. it happens all the time and everywhere and I'm sure anyone coming in will assume it will happen here as well - but maybe not as bad as say E Africa or the UK N Sea

"because Lidsey's potential has still to be clarified in more detail."

Lindsey is and always has been a dog - no-one, other than ANGS has shown any interest in it for over 10 years

they got the extension because they are in for PP - which has not been approved - that's what I said - the OGA grants extensions as long as you go in for PP

David’s banking loads, hallelujah
David’s banking loads…

Pty about the rest of us Heid UJO 0.45 down to 0.07 with a 200 to 1 reissue in as well

I'd bet any buyer will make the offer contingent on meeting the hedge - that's looming closer and closer every day

I agree that SOU paper is a very poor, opportunistic, deal - but it may be the only one on the table...............

On onshore licences the OGA requires you to fulfill the work programme - the only excuse you can have is that you went in for PP and you're still waiting

At that point they normally extend the Licence as its out of your (and their) hands - that's why those guys down in Dorset have just gone in for PP at Puddletown - they have no cash and little expertise but they can hold onto the Licence that way

It's still a worry that the Market thinks this share is worth 40% less than SOU paper..............

Many of those IBUG are unfinanced and unfinanceable - by putting in for PP you stop the clock on the Licence and the work programme with the OGA

"why can’t the government step in and sort this out "

Fine give us your address and we'll send a drilling rig to drill right next door -

Happy? Of course not - NO-ONE in the UK wants any development near them - they want the energy but it mustn't impact their house price.

Give us a song Heid!

Of course the oil companies took a beating from 2013 to 2021 but no -one mentions that

"Did I ask for my name to be on the header of this thread ?"

Then stop advertising yourself as "HeidOil" and similar .............

Careful - its Thursday - our long lost friend sometimes lurches into view a day early if you wind him up too much

http://www.inwellflowsol.com/files/SPE_56663_Analysis_and_Prediction_of_Electric_Submersible_Pump_Failures.pdf

Mean time between failures was 333 days in Alaska Onshore -but that was 20 years ago so you'd expect better now

there's some papers that indicate the life varies withe type of fluid - one suggests 3 years for oil & water, 6 years for oil only

"At least those three companies (Egdon, Europa and UJO) would already have one asset in common"

They seem to get on OK as well - but neither EDR or Europa are exactly awash with cash

well the offer is only indicative but as I've said before it would make sense to buy if and when it goes firm...........

we've been given the week off DoneK - all the ramping isn't moving the stock price so the evil MM's, Shorters, bridge living trolls etc don't need us to do anything.............

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

And if that well fails for any reason ......

The BoD need to articulate what they are going to do once the debt is paid off - where are they going to drill next? Until then this is a share with a single point of failure and fixing that failure will be very very expensive and take several months. That's why its a risky share

"A soon to be debt free HUR with its vast WoS acreage, licences, unique IP, still incredible ~10K bpd production now at ~$89 Brent, massive tax credits……should certainly not have a strange crazy lowball market cap of ~£100M (5p SP) here,"

Problem is it's dependent on a single well - that's risky.............. especially when it's an ESP