Member Info for Mirasol

"Fracking an already fractured reservoir is unlikely to work, which I believe was why the Weald operators said they wouldn't ever do it."

My understanding is that the fractures - or most of them - are tight - at HH they found open fractures which flowed (for a while) but at BBr (and Balcombe) they where either shut or they screwed them up.

I think the "no-fraccing" statements were political to get PP for normal drilling

"Why would anyone want to Google map the house of the CEO of a oil and gas company, or indeed, Google map anybody's home?"

To see if they tell the truth? If DB claims hardship its reasonable to note he has a Porsche - his definitions of hardship are therefore different to ours - so you apply that to anything else he says- no???

"Why do they need more money? "

To pay the rent and their salaries - the "deals" are tied to expenditure on SFB development only - not corporate costs.

" Some of the earlier estimates suggested that UKOG was plugged into 100,000,000 barrels under the Weald"

that's the problem - they were estimates the results from HH (and Broadford Bridge and Balcombe etc) now clearly suggest you can't access any of those numbers. You might be able to do so if you could frac but that is still unproven - and given the reaction to even conventional drilling very unlikely to happen any time soon.

Strip out the Kimm and you are left with the Portland - a well knowns revoir that only exists in small fields in the Weald. That's why everyone else left..............

Ocelot

Why do you keep posting the oil price - it has almost no relevance to UKOG

The problem with Turkey is that they are paying for a drill which seems to have been in the wrong place - to have to shoot new seismic halfway through a farmin well is almost unique AFAIK. Surrounding fields don't seem to produce a lot - much the same as Horse Hill maybe. No new acreage either.

" Is Ocelot a secondary account for one of the eyes? "

No - he/she/they never post abuse and never post ANYTHING bad about the management of the boards they're on - my guess is they're in the brokers, nomads or the PR outfits

Old trick of Ocelot here and Heid over on UJO

"No doubt ICSID will take some time to consider the submissions but surely we are talking weeks now rather than months."

You clearly don't know any lawyers - especially International lawyers working for an NGO who are accountable to no-one..

Both sides will no doubt be invited to comment on the other's claims and then the Commission will have to ponder their responses - 3 months is my guess - they might want to get it done before Easter. I 'm fairly confident that RKH will win but the problem is then to lay your hands on the cash.

Anyone know who he named in his "J'accuse!"?

Stupid argument - if only the company would issue updates - ANY updates

After receiving $ 2million they are only just cash positive on a corporate basis...............

well - maybe more honest is a better description................

I think Lucan is honest

I don't like Winnifrith and I'm not a subscriber but this is what he posted recently

Tom Winnifrith Bearcast - naming the shareholders Union Jack Oil is paying the spooks to troll
I name all those shareholders or their BB or Twitter names that Union Jack Oil (UJO) is using shareholder cash to troll in a most thoroughly unpleasant way as I exposed yesterday. I also comment on THG (THG), Cineworld (CINE), Tintra (TNT), Versarien (VRS) and then on the bursting of the covid testing bubble with particular reference to Omega Diagnostics (ODX), Avacta (AVCT) and Novacyt (NCYT) which has its own BIG question to answer. Plus, of course, MyHealthChecked (MHC). I reference vaccination and covid rates in Israel in the podcast which is covered in more detail HERE.

"And if any new buyer is going to have to agree to be bound by an identical hedge as part of the asset purchase, that's surely going to affect the offer price? I mean, I'd far rather be in a position to sell produced gas at say 200p, rather than a fixed c.
40p for the next three years..."

Agreed - anyone buying into has to have free cash (unless they just offer paper ) so they shouldn't need the loan nor the hedge. As they're buying the'd want ANGS to sort that out...

"Mirasol. I notice you do a lot of poo poo stiring on here and next door on a regular basis,"

Both companies that over promise, never deliver and re infested by pump & dump merchants

"Speaking of questions, anyone got an opinion on what happens re the contractually committed-to hedge obligations which ANGS's has solely signed up to if it sells the asset which is meant to fulfil those commitments?"

I answered this yesterday

if they buy teh Company intact the hedge is still in place

If they only buy SFB - it depends - I think ANGS are still on the hook but they'd write something into the Sales & purchase agreement mirroring the hedge withe new buyer

IF Winfrith publishes a report that implicates named persons he's opening himself up to court action.

I'd assume he employs a pretty good lawyer so he'll be sure his back is covered.

The question will then be what do those named do ?

Interesting that he says the report was received in October - I don't remember any action being taken since

"When GL was first interviewed about the SBY purchase the SP was 4p,"

he also said it was going to cost £ 2 mm to bring on stream..............