Member Info for Mirasol

Tonight we forget all the issues and problems and hope that everyone and their family are safe, well and that the future is better

BV - I was paraphrasing the EA.................. who have absolutely no idea about the subsurface, geology or hydrogeology IMHO

Cysan - it really doesn't matter - the problem was always Premier's weakness - but they were the only show around when RKH were looking to farm way back.

I think Sea Lion will go ahead but again I'd be very worried about expecting the Italian Govt to cough up any award within a year or so. I'd say if we got the money in less than 4 years we'd be doing well. Govt's HATE handing out cash - and to foreigners ...... even worse. And of course it shows the whole world you screwed up. Italians don't like that at any time

" Assume this can be applied for separately and don’t envisage there bring an issue considering that they don’t have an issue with the Brockam water into Portland ."

You would think so wouldn't you? But in the mad world of the EA they seem to have developed a presumption against doing this. With a vast amount of effort and many expensive studies you can, apparently, just about convince them that putting water back down the well it came out of is fine, sometimes, on a good day when the augers are right. But put it down a different well.... shame on you!

"Who knows what engineering is done in the background,"

indeed - but it the latest submission can only have been done in the autumn of 2021 as they've only just put it in. Or are you suggesting BV that they knew it was necessary 6-9 months ago but never told anyone?

Once again ANGS are late, they didn't get it right first (or even second) time around and we're going to suffer

"No , it was by an independent top geologist"

Link?

As I see it this is not good neews - it opens up teh possibility of further delays for certain.

The planners won't even open the application and look at it until the second week of January - even with the best will in the world I can't see them getting clearance from legal to approve (and all O&G applications are so high profile they get go through legal these days) until late February. It also opens up the door to further legal interference by the great unwashed.

Just amazed this has only just been submitted. Looks as if very little real engineering was done until September/October.

" they just got their sums wrong the first time."

Angus? How could you think such a thing............................

"The original application says Angus are producing condensate with up to 4 deliveries a week"

then I'd have expected they had some condensate handling already built into the plan - either they did and it isn't enough or they forgot..............

"plus the environmentalists kicking off over RKH/Navitas threatening to open up a new provence. "

I think you'll find the good people of the FI have a robust view about outsiders telling them what to do on environmental matters

"PMO/RHK/Navitas had signed HOT and PMO were about to buy BP assets with a placing of some kind which would have given them financial muscle and then all hell broke lose with Covid which saw the oil price plummet and HBR take out PMO."

The oil price had been on its knees since 2014 - what CV19 affected was Premiers ability to run down their debt (they'd already got rid of a a lot of it) but there really was no way out in summer 2020.

"I found a fabulous presentation on Zechstein exploration with a large section on West Newton. "

Was it by Zach M Heid? Or SP Angel??

I can see a number of reasons for this:-

1. The flare they were planning on using isn't up to the job - there seems to have been problems with the EDR flare at Wressle which may be relevant.

2. They may have decided they need to be able to flare more gas in an emergency

3. They think they're going to be flowing more gas and so require more back-up - the extra generators might be part of this.

Interestingly they're now looking at condensate as well - suggests someone has had a detailed look at what they'll actually be producing? Not just gas??

And of course it explains why little work has been done and why more cash is needed - it wasn't the EA we were waiting for - it was Angus preparing the documentation. I can't see this going down well at the EA (or anywhere else) - several months spent looking at the original application and now its down a snake and start again.....

Don't think it was anything to with CV19.

Harbour aren't an exploration and development company - their DNA is taking old fields and making them pay - so lots of bean counters and production engineers and few folk with vision or willing to take a risk.

Once a couple of their developments started to move to the right they looked around for something to sacrifice and Sea Lion was clearly "non-core" - ie it was something they'd inherited, no-one in Harbour had promoted it , no-one really understands what its all about = axe it.

"Is it time to frack the hell out of it and get to energy independence?"

probably but you'd never get the votes - fraccing has been successfully demonised and no householder wants any new activity of any sort anywhere near Mon Repose.

Years ago an oilfield top guy said "it's simple - people want the maximum amount of energy available 24/7 at the flip of a switch at the lowest possible price and produced as far away from them as is humanly possible".

"Lets say RKH and Navitas Farm in with a Partner next year and prepare to get production. Realistically how quickly could they get to first production"

Assuming they just accept as gospel all the work done by Premier I'd say 3 years - but engineers love to tinker and there's always the "not invented here" aspect. I would hire the PMO project engineers and tell them to make it work using one of the big contractors - that way you'd get not lose the "memory" of why things are designed the way they are..

They've raised £ 20.72 million since December 2019 - before that I'd have to dig

interesting link Mogger - some of those cases weren't settled for 6+ years after the award and as they say "non-compliance is on the increase"

I'd guess we'd get the money eventually but it could be years away

"Interestingly since last update on 30 November, CA have now again increased their HUR holding to 28.9% (from 28.16%), we could soon see 30%+ here"

At 30.01% CA would HAVE to make an offer for the rest of the shares - I think they're carefully managing it to get as close as possible without having to do that

so you can't prove a single accusation Adrian - thought so