Member Info for Mirasol

Brocal

I hate to say it but I don't think the average taxpayer cares - or if they do they support the councils attempts to stop the activity. I'v e looked and I can't see a single, real, substantive negative reaction by locals to the Wressle mess. No councillor has lost their seats, no one has formed a local protest movement against them - if anything they're proud of what they did, and they'd do it again - they've even said as much.

There are no votes in oil & gas in the UK (possibly excluding Aberdeen)

When there's cash to be made the City of London and its associated creatures work 25/7, every day and night. They don't even go to their mother's funerals. They spend weeks eating bought-in pizza and just buy new clothes for delivery rather than try and get new ones from home.

IF CA are interested they'll be working flat out right now at 0815 on a Bank Holiday - and they'll have been up all night I can assure you.

I think there's more value here than the Board say - not a lot - but CPR's are the closest thing you'll ever find to a legally binding technical opinion and people are often very very careful and veer towards safety first when they write them.

"another successful appeal and compensation awarded."

Agreed they'll almost certainly win - problem is the compensation is only for legal costs. If the Govt would pass a law stating they had to pay for loss of income then we'd start seeing people behaving responsibly on the Councils. Until then its nothing.

I think I figured out that costs after an appeal at Loxley would cost the average rate payer about £ 2 each - and it just comes out of the pot - they don't have to reach into their pockets. And most of them probably think £2 is a worthwhile punt to try and keep their house prices up

"Anyone else find it grating the constant comparison and justification of the turkey licences against the UK assets and UK drilling? Yes ok the UK is tough but surely the comparison is against the rest of the world"

No - UKOG have a very very valid point here. The UK onshore isn't that attractive from a geological point of view TBH but it is VERY unattractive from an operational and economic viewpoint. There are worse - you can't do anything in France, the Netherlands is even more restrictive but pretty much anywhere else is easier to operate. What kills the UK is the fact that a Licence to explore is not a Licence to drill and produce. And the granting of those permissions is with a completely different bunch of people - not the central Govt but local elected representatives.

It's impossible to do any long term planning for operations in an environment where every decision is delayed, appealed, appealed again etc etc . This leads to higher costs and interminable delays - drilling Holmwood was attempted for over 10 years before the companies walked away.

Outside of Wytch Farm there isn't a single small (or larger) oil company - they're all real minnows who, to be honest, are more about lifestyle for the Directors and making a quick buck on the stock market than producing serious amounts of oil & gas. Any decent company that has started in the UK Onshore for the last 40 years has eventually thrown in the sponge and moved offshore and/or overseas

I thought that was something new Ocelot but its nearly 5 months old

"If Ruth feels so passionate about the use of fossil fuels she would engage in healthy debate."

She does but she won't - she skates along a thin edge claiming DoD is "unbiased" but we all know she gets her money from the green side. She's totally convinced she's right and that the O&G industry is some sort of vast , evil, conspiracy to kill children and people's cats. I think she's watched "All the President's Men" too many times.

Its sad we're dependent on her to run the only news site that keeps up with what is actually happening - the UK Onshore Operators Assoc is dead from the neck up

Not sure you understood me Heid - I was saying that there is more money for itinerant journo's such as Ruth H in peddling a Green Agenda on her web site and collecting donations from the credulous (no doubt the same people who fund XR and that mad woman in Surrey who keeps trying to sue UKOG) than she can make by balanced journalism.

It's interesting that windpower is a bit like oil & gas - everyone is in favour of it as long as it isn't in their backyard or viewable from their house. So Offshore GOOD, Onshore BAD - still the same NIMBY's

All l I can find is that it's a "local company" - probably some mates of the AME guys

Heid

Ruth won't answer you - she's a journo - she thinks she's above debate and only is interested in her version of the Truth. A cynic would suggest she figured out there were more people willing to pay to hear Green rubbish than the other side

Not me that's constantly changing their name and accounts and getting banned Adrain - I see you don't even bother to deny that Cft is you..........................

"Do they just pour water into the drill holes they’re not using for oil extraction? If they’re using hoses, at what water pressure
do they arrive at the definition of “fracking” and who monitors this on site?"

Suggest you google it Oofy - but they pump the water in as they have to overcome the formation pressure at depth - that 2000 ft of rock above the reservoir exerts quite a pressure. The engineers & geologists calculate the FP and things like the fracture gradient - ie at what pressure will you break the rocks down - and its part of the application and permit.

Its monitored by the crew on site and occasional HSE/EA visits and checks. They'd skin you alive if they thought you were trying to "frac" on the sly. You'd never work again in the industry.

" Oil drillers are not always keen to farm out interests in oil prospects for which they entertain high hopes."

No but the management and investors are normally keen - given a success rate of 20-30% in say the N sea it makes sense to lay off the risk and use OPM. If it's commercial you make a lot of money anyway.

the dangers of 100% exploration and development are illustrated by Hurricane

Ahhhh Adrian - how long do you think you've got before they come for you again? Tuesday 08:00..... I really don't know why you bother. All you do is post abuse - no analysis, no insight.... just hateful stuff. Why???

"As the market becomes increasingly convinced UKOG can deliver on its objective"

problem is Ocelot is that its the same management and BoD who have serial form as over promisers and under performers going back 6 years

Leopards, spots

Oh God - Adrain/FPOTH is back

"I felt the following response was a slight giveaway (perhaps unintended) that there must at least be the potential for major roadblocks in the responders mind: "Finally there have not yet been any mjaor roadblock""

I think Lucan really has no idea if they'll get the deal away or not - hope isn't something I associate with hard-headed finance

Sorry Pboo - for a while the link wasn't working but they were on the Weald Oilers site when I went that way

zoom Posts: 1,689 Price: 0.205 No Opinion 06/06/20
Fear NotToday 13:43
SS and our institutional investors have this well in hand. Our latest investors could receive a hypothetical 20 % return on their outlay if the profit (at this time) from 2 tankers a day plus our 80 barrels a day from else where was elected to go as a dividend. I would expect a new board member to be elected very shortly to protect our investors outlay, As this is the normal procedure. Watch out when SS and company find out that YA and company have disposed of all of their shares, which will result in a big and sudden rise in oil produced. And who said SS was dumb. This is how I expect UKOG wil go forward and is all IMO.

Did I win...? :D

MickeyBee was closest with 1 bopd..........:(((((((

Production sweep - 0 Jun 2020 10:57
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Tymers 3000
Scallywag3 620 820 1440
Sting69 560 650 1210
Ibug 400 500 900
Mullins 410 420 850
BLSHFTW 825
Mirasol 400 400 800
Ohmetoe 780
Tetrolite 360 410 770
Profit00 320 380 700
Skwizz 600
Captain Stanley 250 320 570
Penguins 450
Backwoodsman 400
Mickybee 1