Member Info for Mirasol

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

"Maybe it is time for UKOG to use Primary Bid and allow PIs to take advantage of cheaper shares instead of having to buy them second hand in the retail market."

But then how would the financiers and their mates make any money???

!On too many occasions the shares seem to have been issued to flippers or financiers "

WRONG - on EVERY occasion......................

Remember that Perenco started life as an onshore UK producer - the Malton gas fields - and then got out as fast a s they could after they got some N Sea production............ why would they come back? As has been said Wytch Farm is really an underwater field that can be tapped from the onshore. There is n't a single waft of a statement that they're looking onshore UK

"Of course UKOG predicted the water ingress otherwise why plan for an injection well when they put the planning application in in 2018."

the original injector was one of the 6 wells and was to support production of 1500++ bopd - its not uncommon to have to provide pressure support in such shallow reservoirs.

But the current plan is convert their much ballyhooed second producer - which failed - into an injector . If HH2z was the best place to put a producer and its now a good place to inject....... you can see why we wait in vain for a CPR

Anyone who believes in chartists is crazy - by definition its all rear mirror stuff.

Did the charts show that the reservoir model was flawed? or that the CEO would have to quit??

TBH I think he's one of the few decent CEO's in the small cap oil patch

Ocelot - to reach 0.167 requires an increase in price of circa 20%

How is this going to happen when we all know they need to raise even more money in the very near future? As construction in Turkey ramps up the cash calls will be coming in hot & heavy

"apart from the swab test on Basur-3 which reportedly came up with "an extrapolated rate of 2,000 barrels of oil per day""

Those of us invested in ANGS know all about "extrapolated daily rates" from a very short test at Brockham

Holt? probably had enough and can see where it's all heading . H always seemed a genuine, if rather inexperienced, guy

I'm sure he'll do well in his new job

Problem is Ocelot is the lack of financing to move the project forward - every week ANGS are burning cash and less and less is left to keep things happening. No major kit will be supplied until the sellers are comfortable that they'll get paid

" it will contain conditions to upgrade the site to meet current EA standards for Groundwater work, the previous permit decision highlighted their concerns on that aspect, they will want those concerns addressed."

Interesting - it is quite an old site - say compared to Horse Hill. I'd imagine upgrading it would be uneconomic

well it does if it's producing..........

" will the Angus board seriously consider walking away from the loan negotiations and/or ii imposing a drop-dead date which is communicated to shareholders by which loan documentation must be concluded"

They'd be mad to walk away - you only do that if there is an alternative and I don't think there is one at ANGS

II's won't touch the company after the past shenanigans - so you're left to a bunch of wide-boys to cobble together the cash from their mates with some deeply discounted placing. And it sounds like the arguments are over who gets the first call on the assets if it goes pear-shaped. I'd imagine those who invested previously are very reluctant to see some new guys get first place in the queue.

I'm sure they know this - everyone else did - it's just not reporting all the facts to the shareholders that gets on my nerves

From Drill or Drop

Surrey County Council has confirmed that Angus would need to apply for planning permission to put the plan into action.

The local county councillor, Helyn Clack, shared a letter from Surrey’s head of planning services. This said:

“planning permission was granted in 2007 (MO06/1294) for the continued use of the Brockham wellsite for the production, treatment and export of crude oil until 31 December 2036, which included the facility to reinject water separated from the production including rainwater into the reservoir rock. There is no planning permission for the importation of any separated/discarded water from other well sites. I have informed/reminded Angus Energy of this fact. If Angus Energy want to import separated waters from other well sites, they would need planning permission.”

", there are bits that have individual value "

70 bopd and 30% water isn't an asset - it's a liability Primula

Turkey? You could get better terms by approaching AME yourself

the rest is dross and comes with liabilities for abandonment

still waiting for your Dinantian insights heid