Member Info for Mirasol

Correct Exploration however "Now; 1 bbl oil = 6 mcf gas" is based on teh average of energy equivalent over a wide range of crudes and systems. In specific cases this varies widely - fort many years in Canada the value equation was much more skewed towards oil for example.

On the day it's all about supply , demand, fears and forecasts

"expectation that OM will results in several 10's of millions in compensation for Italy reneging on their contract,"

I think they'll win an award but again, when do you think the Italians will pay?

"Raising or not When we are at £50 market cap all this will be noise."

Jeez - we're currently have a Market cap of £ 7 million - that's a hell of fall you're looking at ED

", that the HUR tax credits could be offset against any proposed UK gov windfall tax on North Sea profits. "

I suspect the Offshore Taxation Office would advise the Treasury to ring fence windfall profits tax by field.............. they're not totally stupid you know

"I shall continue to hold and buy cheaper Angus Energy shares."

CHEAPER shares? So you expect the price to continue falling ED?

"Offer "QUALIFIED INVESTORS" and "INVESTMENT PROFESSIONALS" 20% and they will take it."

But just think of the ramping that will require - we might even see 10pTymers and Heid back on here.

"I recall that Angus Energy did a 3D seismic and localised mapping of wells. Did they find higher pressures?"

No they didn't - the 3D was shot years ago and Grey Panther pointed out how hard it was to interpret a few months back.
You can't get reservoir pressures from seismic either.

biggest worry is will they be able to get anyone to invest?

With KM stepping back (and probably disappearing in the next 6 months) the new guy will have to pull out all the stops - not sur e he'll have the midas touch, or the contacts at this end of the market, to do it.

"There is no way that we should ever be dependent on other countries for power generation or water supplies (or food for that matter)! I"

The UK has been dependent on food imports since about 1830 - a bit late to change now

There are a lot of articles in the Lyell Collection of the Geol Soc online but if you're not a member it'll cost to download them all

The UK Oil & Gas Fields update Memoir 52 has a lot of papers but again - it costs

Thanks Chitty

looks like it was in the August (08) edition Panther. Ion pushing their new 3D over the Mid N Sea High offshore. Not sure what the relevance to WN is really but its a well illustrated article like most GeoExpro ones

"I do not lie nor about my contacts."

It wasn't Rubbey perchance then?

"I found a fabulous presentation on Zechstein exploration with a large section on West Newton. Even David seemed surprised when I mentioned it to him a while back. It is extremely interesting."

so who wrote it and where is the actual link please? You did say it was"an independent top geologist" so you have his/her name no?

That Zechstein report Heid?

The one by some expert you had to tell Bramhall about?

It all looks good but until someone kicks off Sea Lion development these assets are stranded

Long term posters all know Adrian has issues - this board gives him some meaning to his life - the use he makes of it is an indication of the extent of his problems. He doesn't fool anyone - best thing is to to treat him with civility because, short of a a expensive court action by LSE he isn't going to leave us alone.

I suppose four abusive posts from Adrian on Christmas Eve just before midnight was too much.......................

"With all that in mind, let's say the award is $50Million (but hopefully more). That goes onto RKH's balance sheet, even if unpaid. On the strength of that, RKH could borrow as much as it needs to continue normal business (it wouldn't necessarily need to borrow very much at the moment)."

Yes it could go as an unpaid debt - but I doubt you could borrow against it as any lender will want to know WHEN its likely to be paid - if that is the 10th of never they will just go back to looking at the company's other cash flows etc

Best bet would be to sell it on to some Yankee lawyers at a discount

"The interest rate is of the order of 8%, which is what the English County Court currently applies. "

Why would an International Body based in Europe apply odd interest rates used by a UK County Court?