Member Info for Mirasol

TH2 "Horse Hill work continues towards the SIX well site and the price of oil is expect to exceed $100pb. Think I'll keep my money invested and not be put off by a shallow XR poster. "

TrollHunter2 Posts: 1,170 Price: 0.16 No Opinion 12/10/20
RE: Buys flagged as sellsToday 11:39
Trolls busy this morning now they've got down off the rig and let UKOG get on with reperfing and increasing OIL flow rate out of HH-1. With the new set-up and the pumps working to their specified capacity we could expect to see a production rate of 500+ bopd by then end of this week.

What happened TH2? Wrong again......................

"strategy be to remove Sanderson and bring in an expert to revisit and reassess potential of HH,BB and handle LY on the basis that there is good news in July."

I suspect they have spent a great deal of money on experts Primula but if the geology is against them there is nothing that can be done even if you have a Nobel Prize.

The fact that they haven't done many of the things they floated for the UK(multiple completion, more wells, more horizontals etc etc) indicates to me that they don't believe they will work given the data they have. hence off to Turkey

"BP plans to build Britain's largest hydrogen plant"

In Teesside at the end of the pipeline from Norway

"Perhaps you would like to supply the links to "Turkish equivalents of the OGA, HSE and EA"."

They will have them Ibug - every oil producing country has similar organisations - but no need for me to do it - the Operator already works there and will know who is who. No need for the boys in Guildford to get involved

" the Company will now focus its efforts in the first half of 2021 towards the design and delivery of the Basur-3 appraisal well. "

But they're not the Operator - UKOG have zero experience in Turkey, they don't know the rocks, they don't know the people, they don't know the rig or the suppliers and they certainly don't know the Turkish equivalents of the OGA, HSE and EA. All they bring to the party is money.

They'll get an email every morning telling them how it's going

"EWT incoming. Results could see this go to the moon."

You mean GOOD results - a bad EWT result would put this share in with ANGS & UKOG

Right now we have no idea of how the wells will perform - God knows we've waited long enough for these tests

One would hope so but its silent - and that isn't a great sign on AIM

"The chairman didn't get sucked in to fail."

His companies have done very well out of UKOG and us PI's. No doubt his options are worthless but I'll be t he only makes it to the UK (at our expense) once a year - even pre-covid.

"There's a reason they are excited by Lidsey, it has the potential to add considerably to the share price valuation."

its tiny , it has high water cut and is a known dog. It was producing 15 bopd on shut-in - even if they doubled that rate it wouldn't make any money

"Look you can bet your remaining dollar the chairman will not wish to be associated with a TOTAL WRITE OFF. "

The Chairman resides in Texas and has no other UK directorships. He makes his money from running a specialist petrophysics company that is very much concentrated on US Shale oil & gas companies.

If you think a tiny, unknown in the US , O&G company in the UK going bust will affect him you are wrong

It'll be like yesterday - goes up on small volumes in the morning and then all the day traders rush back in to make 5% and down it goes again by close

"Ibug, read again....he was referring to loxley for the gas trucks"

Gas Trucks? Are they putting a $1Bn liquefaction plant on site? Anyone who talks about "gas trucks" really has no idea about what they're talking about. It's either gas to wire or a grid connection at Loxley

" They have compounded this by wasting valuable time & scarce resources chasing Turkey when they should have been focusing on sorting out the issues with HH."

The problem may be that the issues at HH cannot be "sorted out" - the one thing I'd say about UKOG is that they seem to have invested a great deal into the science (compare with ANGS for example) . If the Portland is not as they mapped it and they have encountered water and the Kimm isn't recharging after flowing then there is literally nothing anyone can do about it. They'll be sunk by the geology . That's why I think they are looking elsewhere (as per Europa, INEOS etc etc).

Turkey is the only show in town here I believe

Things getting desperate with all the new rampers turning up - on a Wednesday!!

"I guess somebody knows something we don’t. Look out for Wressle news soon."

2 weeks on and I'm still waiting.........................

"Personally my feeling is now that no news is good news "

I think most long term AIM investors would strongly disagree wit that statement

We have zero hard news on Wressle for example - if it was good why are they keeping quiet?

"Counsel continues to advise that there are strong grounds to expect a positive appeal "

You know - I've never heard a lawyer say "No you have no case, I won't take your money" - have you?

"Johan Sverdrup [oil field] Phase 1 investment was NOK 83 billion [˜£7bn]. Today, we can announce that for Equinor, this investment will be paid back after tax this month. Or to be precise, actually this week. That's 16 months "

that's not counting the ten years of constant investment from discovery to first oil - all that $10.8 Billion cash had to come from elsewhere remember

"Union Jack Oil .......................to announce the purchase from Cambridge Petroleum Royalties Limited (“CPRL”) of a 2.5% cash generating royalty interest (“Acquired Interest”) that is part of the royalty unit over 20% of the revenues from oil and gas production from the Claymore, Piper and Scapa"

Looks clear enough to me

"40p will be paid by midday or in 20mins :-)"

That's 0.2 p in old money - it has to reach 60P to get back to where it was pre the last raise & leak