Member Info for Mirasol

Not sure the Judge can stop them filing for immediate bankruptcy - it's their decision as the BoD

Once they do that:-

After you submit your application, the adjudicator will decide either to make a bankruptcy order or reject your application. The adjudicator has 28 days to make their decision. If they need more information about your case, they will contact you. If they do need to contact you, they will have 14 more days to make a decision.

If they decide to reject your application, you can ask them to review their decision. If they confirm their decision to reject your application after the review, you can appeal to the court against the decision. To request an appeal, you need to submit form N161 to your local court that deals with bankruptcy. You can find form N161 on the GOV.UK website.

"yup, standard practice to shut the well in and observe pressure recovery if its flowed... tells you how much "volume" there is behind the pipe... very generally speaking fast recovery to original pressure is good, slow recovery to less than original pressure is bad."

problem is that you get the near bore info very quickly but every metre you try and "see" further away the time taken goes
up exponentially - hence the 3 -4 week shutin we can expect

"you don't install a down hole pump, pump rods and the pump yesterday to shut the well in today and call the EWT over."

probably a mechanical problem with the pump.. it'l be really old like almost every other bit of onshore UK kit for hire

Cynders in general I agree with you but you keep telling everyone "I've said it before, will say it again, Turkey is dead."

and then the company release an RNS saying some (admittedly slow) progress has been made - you never acknowledge this Earlier this week you said they rig would never turn up - but it has......

Your well argued criticisms would be better if, occasionally, you admitted you were not always correct

"Not sure if everyone has seen this RNS"

They must be illiterate then - you post it every hour................

Wressle seems to be taking forever - the EWT I'm not so worried about - it would be 6 weeks MINIMUM - a lot depends on what they see when they run the test.

In normal operations the Annual Budget is then supplemented by an AFE (Authorisation for Expenditure) which as the detailed costs for the well based on bids etc. This also has to be signed by all parties.

Cash calls can then made according to the JOA and the Accounting Procedure, normally 1 month in advance for drilling

"Angus soon to produce significant amounts of oil from Lidsey "

Only if they can farm the well to a sucker - and a lot better people than ANGS have tried that over the years at Lidesy

"The document by the expert, Xodus Group (on behalf of CA) is quite funny, particular page 24.
The "expert" doesn't realise that a larger scale water injection will require more investment... laughable really."

he didn't say anything about costs on page 24 but he does look at the cost quoted by the company for water injection on Page 30 . Fuller has not rerun the economics but he's apparently very well known and well regarded in the industry (as is Law for the BoD) - he's anything but stupid so he will be aware of the costs of a big (in fact a monster water flood as he suggests). If CA don't show the economics we have to assume they aren't terribly good

" It might also be a question to ask OGA is why neither of those companies have not yet drilled on those blocks, when normally they should have done so."

Depends on what work programme they bid - they may just have bid new seismic - or even worse, seismic
reprocessing............. and WOS acreage often comes with much longer time frames than say S NSea

Oh God - another pumper trying on the "goodness gracious Me" accent..................

danpoe353 Posts: 1,424 Price: 0.295 Strong Buy 18/04/21
RE: ukog next majorToday 16:20
Clearly see this OP...is a suttle troll. Good fun though. Fantastic work going on in Turkey.. surely heading for 1p+ this coming week.

"Test operations commenced in January 2015 and were completed at the end of March 2015. The Wressle-1 well has flowed oil and gas from three separate reservoirs, the Ashover Grit, the Wingfield Flags and the ***istone Flags. This totalled 710 barrels of oil equivalent per day from all zones."

To get 500 bopd from the main reservoir they have to do the squeeze...............

" Its interpretation should not take several weeks."

It has to be processed first - and that's not just push a button stuff...................

"Rees seismic onshore ltd "

very small time contractor - but that's all Lidsey would stand anyway

"As i have long stated theses CPRs are seemingly flawed - you get what you pay for."

They're supposed to be independent but I've been told a BoD can bring a lot of pressure to the party and try and insist on a more favourable look . Apparently the top group - eg. NSA, D&M (both in the USA) and Gaffney Cline in the UK are almost impossible to pressure, second level such as ERCE, Ryder Scott , Sproule, RPS fight their corner hard - but the further you go down the food chain the more influence the Client has.

"Whats keeps you invested Mirasol "

The wild and totally ridiculous hope that I might get some of the cash back

Was he? Yes

Did he? Yes

It's worth reading

Expert_Report_of_Jonathan_Fuller_Xodus_Group_-_09.06.2021_3266922

Project_Haven_-_First_Witness_Statement_of_Adam_Law_15_June_2016_-_Signed78723854_1

Two well known Oil & Gas experts from separate respected companies - and the different interpretations they have made of the data

"Its not been easy for you nomlungu. Not every business has success straight away. What keeps you invested?
i've put together a list to help you out"

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