Member Info for Mirasol

"Kistos a producing gas from their North Sea assets and currently waiting on drill results."

Apologies I'd just looked at the UK - Alan Booth knows what he's about - Andrew Austin - pity about his past issues

"the Company does not envisage an extended period of time will be necessary for the Parties to complete due diligence"

About 4 weeks I'd guess

A week to get Confidentiality in place, week 2 mail out the latest reports and estimates to bidders , week3 for bidders to evaluate it and run the economics and get BoD approval for firm bid, week 4 to consider the bid.

If anyone wants to reinterpret the seismic add another month.

Kistos are a trading company - not an operating company

Shell BP Total Exxon Mobil CNOOC Gazprom - no onshore UK assets for years, far far too big

It has to be a small oiler - the rates forecast are too low to support significant corporate costs - as GAZPROM discovered originally here. More likely Paul Vonk with some City money.............

They still aren't sure what they might have at W Newton - is it oil or gas - and that's after god knows how much has been poured into it.

Until they get hydrocarbons to surface in commercial quantities sentiment will remain very depressed about W newton

Who are they likely to be? I'd guess at

UJO - cash in bank, need more assets
UKOG - no cash but desperately need a distraction
IGas - always interested in production onshore
Reabold - need more assets
Egdon - no cash but next door so maybe tyre kicking

that's 5 probables - but who is the 6th? possibly financiers with someone (possibly ex Angus or ex WINGAS) fronting them up

" there is no scientifc or economic way to determine discount rates. You just start from some sort of a base (gilt rate, for example) and then adjust according to personal appraisal of risk or probability of return. It's very much a subjective thing."

I've heard it argued, by economists and forecasters in companies, that it should reflect your cost of Capital but most Oil companies just do what everyone else does - saves arguing I guess

When you only post on one board and ramp it all the time I'd guess you're in full employment then?

The only adjacent licence is PEDL334 Egdon - maybe Angus SFB extending into that?

Or they got confused with Lindsey?

Sorry Ocelot - can you explain your point please?

": a financially solid bidder for Saltfleetby will, presumably, be comfortable with a lower discount rate in evaluating the field's net present value."

Possibly - the determination of Discount Rates should be driven by science and economics but often it seems to be something companies make up as they go along - or what the CEO has heard from his mates in his golf club

"Adrian? Are you referring to me?"

Yes

Adrian - its not me with the mental issues I'm afraid................

Bill is Fool on the hIll again - classic Friday evening start

CITY AM yesterday said the US EIA are forecasting Brent at $75 bbl in 2023 and $ 68 in 2024

CITY AM yesterday said the US EIA are forecasting Brent at $75 bbl in 2023 and $ 68 in 2024

"as mentioned previously the 12 million loan to get SFB on line was a complete waste of time BECAUSE"

they should have asked for £ 14mm?? already int o the contingency they admit...............

"So the negative comments have to be taken with a gigantic pinch of salt."

And of course we should believe all the positive posts as Gospel truth............

"It's easier to drive down the share price, than it is to get it to rise"

Absolutely true with managements such as ANGS and UKOG

https://www.gaffneycline.com/sites/g/files/cozyhq681/files/2021-06/GaffneyCline_Reserves_and_Resources_brochure.pdf

"Over more than 50 years, GaffneyCline has undertaken many thousands of Reserves and Resources assessments covering all types of reservoirs and hydrocarbons and all the world’s major petroleum basins"

Thousands of evaluations...... I think they can be trusted.......

dear god.............................