Member Info for Mirasol

From what I've seen about raising cash fro projects the potential lender will look at everything that can go wrong or be delayed and weigh that against the amount they may get.

Here I'd suspect their two main issues are the production profile (as SFB wasn't producing much when closed in) and ANGS ability to deliver a working project on time and to cost. The fact they've had to raise more cash will be a flashing red light here. The Lender may want to cream a great deal of any upside to balance the risks .

I suspect Lucan is not a happy man

The site has owner has no effect on the financing - they will have a 25 year contract with the SFB operator

The finance guys will be all over the reservoir engineering, production forecast and the estimates & timescales for new kit

Especially with a company that has the track record that ANGS has

Ocelot - that doesn't stop most other oil companies issuing production guidance on a regular basis. It was the lack of that that started the alarm bells ringing on HH

bet they wished they'd left out "two or three"

"We are not the operators of anything"

There are good reasons not to be - its cheaper when you start out as you can choose which assets to put a limited number of staff/consultants on and you save on a lot of painful Official Paperwork (and the staff to do it) - but you have little control over events

"sue SCC for malfeasance in public office and loss of earnings in civil proceedings later."

it has been endlessly explained on here and elsewhere (EDR. UJO, ANGS) that you don't stand a chance of suing for loss of earnings

Much earlier than expected.................................. but where will the money to drill it come from?

No - a few irrational optimists and a bunch of burnt investors is all I saw................

"When is Sanderson up for re-election "

As CEO I don't think that's how it works - he's there until he goes - but no-one has ever tried to replace him.

"In fact the well is flowing a third more than when tested from that zone in the CPR data"

I must have missed that RNS james.... or di you just make the numbers up?

"-are you invested BTW??"

yes - and got hammered by one of the leaks

"Reaction to Balcombe appears to be way over the top. "

I have to say I agree - unless all the sellers REALLY believed it was a shoe-in - and if they did there are even more idiots about than I'd have guessed. The only value in ANGS right now is SFB - anything else is pointless

100 bopd doesn't cover the corporate costs....................

"he cannot/will not speak about anything that is of a confidential nature "

that was Steve Sandersons excuse at UKOG ... and the UJO leaks like a sieve and the BoD do nothing about it

Has anyone at Reabold or UJO said just why they can't seem to get an EWT underway?

This share won't go anywhere until they have those results - investors remember too many other "transformative" discoveries that didn't test well..........

"government need to fix this kind of behaviour."

Its the Govt that CAUSES a lot of this - they could back people they've sold Licences to, they could remove "slow walking" protection,m, they could force Councils to take planning decisions in 3 months or have deemed approval, they could attack Nimbyism - but when you look Tory councils are at least as bad as Labour of Independents at screwing business up

Almost certainly waiting for the results of yesterdays meeting before answering any questions

RNS 23/12/19
Downhole pressure gauges also confirmed that HH-2z penetrated a near virgin pressure section of the Portland oil pool.

"In the text UKOG say the fault is very small between HH-2z and HH-1 so see no issue with injecting in HH-2z for HH-1 pressure support."

that's interesting because originally UKOG said that the end of HH2z was in a separate pressure compartment - but the way the map is now almost the whole of 2z is in the same fault compartment - so maybe there's also a change in rock types that is causing compartmentalisation as well?

" a single new seismic line through (or near) the HH site running south to north could solve the puzzle "

Agree totally but that takes time - you'd have to get planning permission and permit s from the landowners as well - and swampy would have a field day disrupting operations. I'd guess it might take up to 2 years and cost a fortune