Member Info for Mirasol

"Great so every PI knows more about the company than the management."

Given that on every issue the negative posters have been right and several months ahead of any Company RNS telling us more bad news I think you're statement is correct

"They have the whole area to pick a site and chose the direction of drilling. Are you telling me they chose the most difficult formations to drill just to justify the cost"

Don't be silly - they had to get to a location they could drill from - the original "discovery" is at the bottom of the hill across the water from the reservoir - we have no maps but it sounds as if it was a long way from the drill site.

The formations are what they are at that location - the prices quoted for elsewhere are exactly that - elsewhere - the rocks and the structures and the stress fields are probably totally different and so are the costs

"wouldn't surprise me if some big players interested in buying in on the action...."

Come on Adrian - not that old chestnut again - not even small companies are interested in getting into the UK Onshore. UKOG, Europa, Northern as was, INEOS - all started looking overseas

Depends on the actual wells IBUG - the UKOG one appears to be highly deviated (tho they won't tel where to) and through some difficult formations. the fact they stuck the BHA just before stopping operations suggests it isn't that easy = expensive

Micky -- they just can't get the staff these days - poor Heid is left running the new hires out in Mumbai...........
:(((((

Flyboy - supposedly on here since 2014 - all posts recently on UJO - another junior ramper me thinks peddling the "I'm topping up" idiocy

10p Tymers for me - tho Ocelot has never ever posted a single thing questioning the wisdom of the BoD

"You are a notorious broker supporting short seller"

Adrain - you're talking nonsense again - you can't short these stocks - we all know that

Give us one of your songs Heid to cheer us all up

Come on TAC - you've just made my point

WN - not good news - but Wressle is the most positive REAL news onshore UK in 2021

Yet UJO continues to fall steadily - it's not people on here causing it - it's people with substantial holdings selling every day - another 1 million sell posted after close on Friday for example

And I can't see a reason (and neither can you) - but someone has a good reason to get out ahead of any RNS

so no-one on here can accurately say what the EXACT price would be - but we'll find out soon enough................

soemone posted this on ADFN

from the AIM admission document: 'The price which BP pays Hurricane for the oil it buys under the BP Contract is dependant upon the price at which BP sells such oil to third parties including a profit sharing factor for Hurricane, based on such sale price. As such, BP’s payment to Hurricane is calculated by taking (i) the average of all the high and low quotations on Platts Crude Oil Marketwire for Dated Brent during the first five days of the Bill of Lading month (subject to BP’s election to adopt such average from a period at the end of a month); plus (ii) the differential to Dated Brent in BP’s on-sale price to third party offtakers FOB at the delivery point (or, if delivery terms are not FOB at the delivery point, then the differential is netted back to BP at a level that reasonably reflects a FOB delivery point differential to Dated Brent using the actual figures); less (iii) a marketing fee. The marketing fee consists of a fixed fee element (US$0.30 per barrel up to 15 million barrels marketed and US$0.15 per barrel where over 15 million barrels are marketed) and the above mentioned profit share element (calculated as 25 percent of the difference between the on-sale differential and an agreed benchmark value based on the oil’s expected market value).' Https://www.hurricaneenergy.com/investors/aim-rule-26

"under the sales and marketing agreement Hurricane has in place with BP, the sale of Lancaster crude is priced at the average of either the first or last five days of the month of lifting (at the buyer’s option)"

So BP can choose to average the last 5 days of November or the first 5 days of November

And the share price continues to fall, day after day, even tho (for a small oiler) UJO had some good news.

Even stars like UKOG and ANGS have show less of a fall in value.

Something nasty is in the wood shed I think

JNDavid - 10 posts, all supporting UJO and creeping to Heid

Welcome back Rubbey!!

"Here we go again.' Expand internationally', the RNS says.at a time when the underpinning has not yet been done in the UK. To my mind that means further dilution of shares . Expand into what ?"

AS I've said they probably can't get anything in N Africa or the Middle East - those guys require serious players

The fact that Alan Howard has moved into a more "exec" position confirms to me it's N America - the graveyard of small UK oilers fleeing the UK

"Sorry, I am going no where."

The most accurate post EVER on this board..............

"This should leave more time for the executive directors to consentrate on moving the business forward."

What do they DO all day Wizz?

Daily report from HH - 10 minutes, nothing from Turkey, nothing from anywhere else. A clerk or two to pay the bills

About 7hrs 45 minutes to calculate their next bonus each day I make it

And topping up on UJO as well.... the'y'll put up a statue to you

Don't worry - ED is topping up on UJO & ANGS as well this morning according to his posts...............