Member Info for Mirasol

"The Proceeds of the Placing will, therefore, be used primarily to support and fund UKOG's share of initial Turkish Licence operations costs, to include the purchase of long-lead drilling equipment, construction of a drilling pad and necessary preparations for seismic acquisition. "

Note it says nothing about mobilising the rig and drilling costs - just the pad and long lead items..... AS the pad is well under way expect a big cash call shortly

" Will they raise before the anticipated rise to spud, or even the results? I think its unlikely."

Look through past posts - they have to raise as the cash burn of HH et c plus Turkish costs exceed cash in the bank. That's why the stock price is wallowing downwards - no-one wants to get caught.

"They may well be using wax inhibitors as part of the production system, as it says in the report its a well known phenomena in the region and should have been prepared for."

i'm pretty sure they were doing that at HH and Brockham as well but it doesn't always work - or rather it just slows the wax buildup. It was clear through the EWT's that HH required more work in winter than in summer. luckily they developed a crane based operation that cut costs significantly which EDR have taken up. I don't think its anything to worry about TBH

"With the opening up of the lock down the demand for Brent will rise and Fawley should now require HH to produce at a higher rate than the December average of 3 takers a week. Remember (as I have said before) we can only sell if the demand is there."

Zoom - Fawley hardly notices HH contribution - and we know UKOG would produce more if they could as they did last year - the reason they're down to 3 tankers a week is because that's all they can physically produce - circa 90-100 bopd

"Cynderlad, Another one who does not like factual information that does not fit with their ramping agenda."

Odd really - over on UKOG he's one of the "Masked Trolls" who Adrain/Ozy etc et i always attacking as a deramper

AS I've said - UKOG have to workover their well every month or so - possibly wax related as its more often in winter than in summer

"UKOG employs 13 persons. 2 more than last year. Office is 28-30 High Street, Guildford and guess who lives close?"

Not exactly near Gatwick - and I think that's a very old office address IBUG - they moved to Farnham Road several years back and then to an office in Millmead, Guildford over a year ago

"The AGM will be held on Wednesday 12 th May 2021 at Hays House, Millmead, Guildford, Surrey, GU2 4 HJ"

"but he is a cracking CEO."

maybe he can fix the constant leaks then?

"Local news tells us that unemployment in the Gatwick area is dire.
Obviously the pandemic has hit the airport but Local Authorities are doing everything possible to hinder recovery."

How many people does HH employ from the local area? 4? 5?? The odd Deliveroo guy, the packet delivery guys and that's about it. It's always been a problem for UK Onshore O&G that they can't show large amounts o f local employment

Ozzy ...never posts anything... other ... than... abuse.......

Nothing of interest... no analysis... just rusbbish

"Will ANGS be taken as seriously"

they've been joke ever since they drilled the wrong well at Brockham - through the mysterious shares sales of JTP to various odd Americans and E Europeans all the way to the Teasy Weasy Salon last week

" are you suggesting I am wrong and that the protesters do not manipulate their pictures in any shape or form"

Of course they do - now tell me - why are we not getting updates from the Company (s) that would stop their silly games?

2The protesters will only put up pictures that will try to harm the share price. It has been proven many times."

perhaps the Company could tell us what is happening instead? Or are they part of the same conspiracy Bayleave (another ramping newbie)

both timed as yesterday afternoon

"the processing plant ,£6 million, odd can be procured via lease/HP "

don't think so - it has to be designed/sized around SFB - any leasor would be looking at what happens if ANGS went bust - they'd be left with a chunk of kit they'd have to spend serious money on to recover, refurb and then sell to someone else. And who is buying small gas plants right now anywhere in Europe? The leasing fees will be very high because of this risk and probably make the venture uneconomic

Cynders reckons there are 2 or 3 tankers a week - ask him - I haven't seen the same degree of spying as we saw at HH where the tanker numbers reported by the "eyes" as reasonably accurate over quite a long period. It would save us a lot of bother if the company (s) just told us................

"Only 2 tankers last week when there are normally 3 "

I haven't seen any detail day by day count - but 2 tankers = 460 bbl oil = 66 bopd; 3 tankers would be 99 bopd so maybe a restriction on flow - thus a workover with a crane as per HH

They've been flowing the well for around 3 months - HH needs a short workover about every 3 months (I know - different reservoir etc) but nothing to worry about I think. Quite common onshore UK

form a neat line for Govt Funding as well - someone got over £ 20 mm for that well in Cornwall

No they'll form their own - I think Egdon are in separate group and Igas in yet another - makes more money for the Directors and lawyers