Member Info for Mirasol

No but he has no choice - there i no hope of RBL without a positive CPR - the fact there isn't one tells you all you need to know

"Not suggesting South-West Turkey will prove the same as Iraqi Kurdistan, "

then why mention it?

"gkb47 - if a company doesn't honour the terms of the licence / planning agreement then the block is rescinded."

That is of course the theory but in fact it doesn't happen that way. In the last 10 years we've seen onshore licence after licence extended - the OGA will extend on almost any reasonable excuse - and the EA and Planning give plenty of ammunition. It gets the EA out of having to go to the Sec State for a letter to run someone off (no-one wants to get involved - there might be awkward questions from on high) and with the commitments still unfulfilled it gives them a wonderful excuse (which they've used) not to hold another Licensing Round which would stir up XR and the Greens.

I

For UJo it makes sense - they can still raise future funds inteh market

If ANGS go down that route any cash spent on a Royalty just means they can't do anything else - so no SFB, no Balcombe, no Cornwall - they would have to fire everyone. I think Cambridge Royalty had only a couple of staff

And there's v little upside for shareholders - essentially its a punt on the oil price but the returns in absolute cash are quite low

To me the give away has been that UKOG never took an interest in either Balcombe or Brockham when they were hoovering up everything else that moved in the Weald. It could have been that Cuadrilla wanted too much but since they never went back themselves I doubt it. Suspect UKOG got enough info on the Kimm at both sites to kill any interests at all.

No news from Wressle, no news about the EWT............

Woops - hit enter too soon

I meant they didn't offer it to the market as a farm-out - they did of course farm it to ANGS - another brilliant offer by the NAGS BoD

"100bbls only at Balcombe doesn't bode well does it?"

You know I'm not even sure they got that - I've heard it was a tight as ........................ No-one seems to have any record or knowledge of where all this oil went to..................

The fact that the Operator never went back there and, as I understand it , never tried to farm it out (ANGS approached them I heard), and that UKOG never got in to it even at the height of Kimmeridge mania suggests it's another horrible dog

That's a very serious charge Cynders..............

As you know I'm not a big fan of how things are going but what evidence do you have?

Pity you didn't call it right originally ...............
Alan2017 Posted in: ANGS Posts: 3,642 Price: 14.14 No Opinion

RE: Fun times soon approaching 07 Nov 2018 23:13

Its great for current and potential investors in Angus observing the well test taking place only 5 miles down the road as the crow flies at HH. It's like going into a show room next door and test driving the product before buying Angus shares.

Now you will agree that Angus will multi bag due to the testing 5 miles down the road, production licence and how the well was drilled. Talk of pipelines or a rail head are for much further down the line...pardon the pun lol.

Now that that painful bit of the placing is out of the way, we should see more PI's buying into Angus as they are the only company in the Weald to have a Kimmeridge Production licence. HH test is due to finish around the sae time Brockham is going to be perforated.

This is an ideal opportunity for UKOG investors to buy into Angus while there is a long hiatus at HH. Angus gives the best opportunity to multi bag and then yes I'm sure some folk will slice and buy into UKOG before it rises in a year or two.

I hope to see the exact same steady rise of last year when it climbed from 9p to 38p in a matter of months.

All he best to the genuine Angus investors.

" non exec Mardon Taylor - trouble is he doesn't say much"

has he ever said ANYTHING in public - I don't think so........................

"why would PW agree to accept risky shares in UKOG. Would you?"

Yes if was going to sell them instantly for cash - they won't hold them.

It means PW get cash, UKOG cut some of their ongoing costs while keeping a critical supplier in business ....... and they do it by issuing paper which only hurts the shareholders

"The deal itself was valued at £1.6m - quite a lot - and the seller seems content with a delayed payment scheme which is perhaps surprising."

Firstly £ 1.6 mm isn't a lot in oil & gas. Secondly as I posted at the time I suspect this was a way of keeping PW well test afloat in very tough times. They had no other use for the kit elsewhere and they wanted a cash injection otherwise they' might go bust - which would mean replacing them with some very expensive alternative from the offshore or from Europe. I wouldn't be surprised if UKOG sell the kit back to them if and when business improves.

"Would Angus Energy consider buying north sea royalties like ujo to help with instant cashflow."

Asked of people struggling to raise enough money to keep the company going....................

AME have no UK expertise and UKOG have no Turkish expertise - can't see any benefits to either in a takeover

I agree - AME's whole business model is t make money from the rig business by getting exploration acreage, using Other People's Money t o drill and then taking any production as the gravy.

AS for a UK listing I doubt it - they are a closely held family company who've been around for years. Why get a load of shareholders all of a sudden - and if you want a listing why encumber yourself with all UKOG's baggage and abandonment liabilities?

OK cynders I'll bite - where is the news re AME looking for other partners?

I see the ramping brigade were mobilised to drive your post down off the front page last night..................

I think there's a place for these - maybe another couple of tranches - but only up to the point where you're covering you're known future overhead - rant, salaries etc. People on here invested in UJO for exploration upside, not as a Royalty Company. But Bramhill knows that so I 'm not worried

now seems they're back - LSE at its best

Load of messages suddenly disappeared........