Member Info for Mirasol

Rollinginit - yes the average rates are high but one of those fields has been on production for 75 years - the high rates would be in the early years - its probably down to a hundred or so barrels a day right now. Note they don't give any recent numbers

In theory yes, but there normally is no cost to the JV partner if they break the rules - there are no sanctions in the JOA. Australian companies always do it , saying they have a duty under ASX rules to keep their shareholders informed immediately (only applies to good news of course)

It looks better than HH - at least they keep drilling wells . The decline curve isn't as steep as for HH - but then they are infilling constantly by the look of it. The E Sadak numbers also align with the previous historic production rates for Turkey - lots of wells and low production per well. If they are successful then it may keep the ship afloat in Guildford - but I can't see where the upside will come from

But EOG could release the results to save themselves..............

"according to DL in one of his interviews."

ah yes - now there's a man I trust on numbers - he inflates them enormously - remember all the oil that we were going to produce??

sorry - I don't understand your point.....................

"AME's cost estimates for a 1500 m depth well in the Licence are around $3 million gross. The equivalent well in the UK
would cost the Company £5-6+ million gross."

1500 m wells in the UK don't cost £ 5-6 million - they cost less than £ 3million (eg Holmwood estimate) I understood the estimate for HH1 was £ 3.5 mm and that was 2600m

Doesn't make him nice Heid

Ocelot - no-one believes these statements. If the Kimm was any good why aren't they bringing it on stream now rather than spending money in Turkey - after all they own a lot more of HH than the JV with AME

Note they label it HH4 - so there is another well to be drilled first (HH3) at a cost of at least £ 2mm

Egdon don't leak like a sieve Heid...................

"Why do you think Wressel pre-proppant squeeze bpd figures not been released?"

because they were SO good they'd have crashed the oil price?

Or plagues of frogs?

Eid is special I agree but in some Moslem countries you can pretty much write off the whole of Ramadan - I think Turkey isn't as badly affected.

Costs for water injection, once installed, should be around £1 a barrel IIRC

not a major factor in Turkey

what we do know is that reserves must be less - if you drill a production well and it doesn't find what you predicted it means the original reservoir model and volumetrics is wrong

The important number is the 5 million cap - the £ 2.2 million should cover an initial well. It would in the UK and Turkey will be a bit cheaper

I posted a week or so back about the long line of companies who have been SO SUCESFULL onshore UK

"Egdon, UKOG, Angus, Europa, Midmar, Magellan, Celtique, PENTEX, Viking, Warwick, Alkane, Star, Corallian, Reach, Dart, Clyde, Cuadrilla, Courage, Sterling................."

Lets see - you can add Infrastrata, Purbeck, Greenpark, Bow Valley, Reach, Coastal, Eden, Providence, MPX, Northern, Fox, Weald, Centrica, Alkane, Blackland, Caithness, NEXEN, Moorland, Star, Composite, Roc, Edinburgh, Octagon, Cirque......

Penguins

You can get a good it curve for the oil & water in EXCEL using the formula

BOPD = 262.01 x (no. of months ^-0.497)
BWPD = 3.1262 x no months +10.44

starting in March 2020 as Month 1

Shows they will be at 50% water cut in July 21 with oil at around 64 bopd

Heid - we're still waiting for your insights from the Dinantian Report

' (did anyone predict the water ingress, I don't think so) isn't hindsight wonderful'"

They did - it was always astounding how LITTLE water they reported during the various tests - check my early posts. We all expected water - but not in the much hyped second producer