Member Info for Mirasol

Interesting that the maps in the section 14 of the latest submission show a fault running SW-NE right through the top-hole location of HH1 and HH2 - looks like HH2z is in a seperate block to Collindean Farm 1 and HH1z.

That has some interesting implications for connected volume for the only current producer.

Which partner - Turkey or HH

Which partner - Turkey or HH

"They have seen it’s been done safely at HH so no idea why they are kicking up a fuss..."

because they're afraid of the electors and the electors are afraid it will hurt their house values

Falklands - About 3000 people plus the military scattered over an area the size of Wales

Not everyone wants an office job - the talent pool is very small and a number of people do several jobs - they are a very adaptable bunch. pay is good but then costs can be high

Also the real problem with O&G is that it employs so few local people - a drilling operation maybe employs a local security company, the odd trucking outfit and a few rooms in hotels - everyone else is imported for a few months. And when its on production a couple of locals maybe - it really isn't much good for local employment

"Looking as an outsider at the locality of all these oil and gas wells, it seems a large portion of the local economy lives or dies on the funds generated in oil and gas production."

Not true I'm afraid - until recently the only thing the O&G companies paid was rates - and not a lot of that as the sites are so small. There is a possibility now of money from O&G but I don't think much is currently paid. Most funds for local councils come from the Govt and from property taxes such as council tax - O&G revenue is effectively non existent.

"Why else would they bring the hot oil wash truck on site? I"

IBUG - they used the hot water truck regularly during the EWT on the Portland - it seems to be an issue with waxing that affects them between October and March IIRC - the truck come maybe once a month

And a decline curve is the normal method of calculating future flows - they have reduced the rate of increase of the water ingress but it's still climbing slowly

November production figures fall on the trend lines since March 2020 (excluding October which was clearly affected by the work going on and the non report of water)

Oil is declining on a classic hyberbolic curve and will reach around 64 bopd by August 2021, water seems to be on a linear increase and will a 50% cut around July 2021

9 posts Gazza = weekend ramper...................

"All UK onshore, easily managed, relatively easy to develop quickly "

Europe spent over 10 years trying to drill Holmwood and failed, Balcombe has been stuck for 6 years and still isn't approved, UKOG had to give up Markwells Wood because they couldn't get planning permission, how long did it take Egdon to get a permit for Wressle.... anyone who thinks the UK Onshore is quick and easy can't read

Its now almost exactly a month since they announced Wressle ops - I really feel an update is in order - given the importance of the asset to the company.

Jamesthesecond Posts: 2,058 Price: 1.15 Strong Buy 07/01/21
target price 4 pence by 31.1.2107 Jan 2021 08:27
Expect a bullish presentation on the thermal front this month which should put a penny on the current SP. Expect confirmation of finance this month which should double the SP as all uncertainties are cleared. All this in the next few days/weeks.

And any press release has to be agreed by all the parties to the asset

"according to Angus, the market in RBL finance is not what it was and the minimum ticket size for RBL finance is now $20m."

Doesn't matter Ocelot - they don't have a CPR and they don't have enough production for RBL - Igas manage it tho'

"Mirasol. Even Malcy said the 12% was high,George was pondering how to reply to that remark."

About 7 years ago, just before the oil price crashed I can remember some of the smaller Norwegian companies taking loans at 13.5% (!!) - funnily enough they are no longer with us.................

"12% above LIBOR seems a steep price to pay when ASDA can flog junk debt at under 3%."

But ASDA don't employ JTP................

Thanks - so until they get that they're probably constrained on flow rates......................

"Our day will come soon enough"

Don't know how you have the nerve to post TH2 - I guess thats why they pay you..............

UKOG price prediction 31/12/19 TrollHunter2 20.7p

Today 11:18 Trollhunter 22/04/20
Twitter chat suggests they could be running a test on HH-2. Let's see how many tankers they end up running today.
Appreciate eyes cannot be there the whole time though.....lots of dogs to walk :-) Could be one tanker per hour.

Trollhunter2 today 03/09/20 14:33 Wouldn't want to be out over the weekend! UKOG is no one trick pony!!!

TrollHunter2 Posts: 1,220 Price: 0.1575 No Opinion 05/11/20
RE: Will this ever hit 8p again?Today 12:49
Yes UKOG to be mid cap oil and gas company......

TrollHunter2 Posts: 1,270 Price: 0.185 No Opinion 24/11/20
RE: In profit now.Today 17:21
Since the planning meeting is on Friday it will take the weekend for the news to sink in and for big money to do their sums on the value of the Loxley asset. Next week should see the big step up on planning approval. Could easily bounce back to 1p plus on those new NAV calculations.

A simple question - do Egdon have permission to carry out the squeeze or are they still waiting for a permit?