Member Info for Mirasol

Never been any evidence that anyone ca short these small oil stocks -some idiot got involved with spread betting on UKOG a couple of years ago but I doubt you can even do that now

Chartists! Always claiming to tell the future from past performance........

Shouldhavedone Posts: 540 Price: 0.255 Strong Buy 03/06/20
RE: Tankers on timeToday 10:51

Charts looking better. Trends changing after a long time trending down. It’s on the up. Once this clears .2650p it’s straight back to .30p. Onwards and upwards.

and now we have mah21 entering the lists!! And the usual crew are posting a lot today - I'd guess another dilution within 10 days.

Nonsense - look at the charts Ocelot - it came down through 0.80 at a steady rate -and never stopped - it eventually flattened out under 0.25p and then has declined to 0.14 p over time

"MrInvestment Hahahahaha You have not got a clue."

Doesn't matter - he's stated himself that he day trades, ramps and that no-one should believe him
"There is no such thing as a genuine poster here" were his words

And TH2 is back at Full steam ahead.................

New Pumper arrived - probably the first of 5 or 6- = further dilution imminent

I've invested in the Onshore UK for over 25 years - in that time the conditions of business have deteriorated enormously. There is no Government support and in most places the industry is seen as a pariah. Other than Wytch Farm it makes an insignificant contribution to UK Oil & Gas - even the OGA hardly ever mention it as a resource. The size of the companies involved continues to shrink and they all survive by constant "good news tomorrow" statements followed by further dilution of LTH.

Actually I suspect that the Onshore UK is on borrowed time - this Govt does very little to help and if they thought a general election turned on a few greenie votes they'd ban it tomorrow. Onshore exploration is banned in France, is effectively banned in Spain & Italy and the Netherlands is EXTREMELY expensive. The Irish are moving to ban new exploration offshore as well.

"You have got to love a protestor haven't you Mirasol !!?"

Protest fine - but stopping people going about their lawful business is an absolute no-no

https://drillordrop.com/2021/02/12/council-urged-to-rethink-ruling-on-west-newton-drilling-plans/

Rathlin Energy wants to drill six more wells at the West Newton-A site and produce oil for 20 years. (See DrillOrDrop report)

As part of the planning process, East Riding of Yorkshire Council (ERYC) ruled that Rathlin did not need to carry out an environmental impact assessment. This is a detailed environmental report that is often required as part of a planning application for larger developments.

Three members of the council’s leading Conservative group have now asked the council’s chief executive, Caroline Lacey, to revoke the decision on the environmental impact assessment (EIA).

In a letter last week, Cllrs Jacob Birch, Brian Skow and John Holtby, who represent the area around West Newton, said “serious concerns” had been raised with them about the decision.

They said the ruling, made by planning officers last month, “goes against the fundamentals of the Council’s commitment to the environment”. Later this month, the authority is expected to agree to reduce its carbon footprint, promote a healthier climate and declare a climate emergency.

Their letter said:

“We therefore resolve and implore you to request that this Council reconsiders the decision to not set this out as an EIA development.

“That this Council revokes this decision in favour of allowing further and full consultation and debate on this proposal before any decision is taken.”

Mirasol
You still don't get it do you. It is production equipment. Nothing to do with testing."

PW do both IBug...........................

"I don't think PW Well Test would part with the equipment from the core business."

If they hadn't had much work for the last few years they would..... always get more if & when the market turns up

"I also just noted that Freddie Holt has left Angus. "

That's a pity - he was rumoured to be a good hand if a bit young.......

"Would have been far better to continue to pay rent for it. "

I doubt it - the rental would be daily to start with and then maybe monthly when they started the Long term test . PW have to assume that rented kit is only going to be earning cash maybe 30% of the year - less onshore UK - so rental will be a lot higher than purchase. And it DOES have a value - as IBUG says some of this stuff lasts years - there is kit on offshore platforms that have been in daily operation for well over 50 years

James - your "make America Great" T shirt is showing................

"but it would have been bought fit for purpose new imo"

I doubt it - there were photos of truckloads of what looked like quite well used kit going on site. After all well test and low production often doesn't work - that's why out fits like PW (onshore) and EXPRO (offshore exist - they come along with kit they can write off over 10-20 years for your one-off operation. Doesn't mean there is anything wrong with it - it's in their interest to keep it working properly for as long as possible.

My guess was that PW had very little work and they were owed cash by HHDL - so they sold the kit (but continue to operate it). In the future HHDL could sell the kit back to them if HH doesn't work out - if it does PW have cash to buy new (-er) kit when the market turns up. It was in no-ones interest for one side to screw the other

Check Grey Panther's posts - he/she seems to have the most balanced and informed views on technical things

Interesting and well balanced post GW71

Looking back 5/6 years we should have taken note that even when the whole Kimm Billions of Barrels of oi was being pushed not a single oil company of any size came in - in fact the only people who did were the French who looked like they were coming in and then disappeared pronto. I suspect this was more to do with the oilco's perception of political risk rather than the geology at that time. And looking at events who would say they were wrong?

Talking of people posting drivel....

HH1AN2 Posts: 717 Price: 0.145 No Opinion 09/11/20
RE: Horse HillMon 17:28
14 bagger upwards yes we shall see...but so far all we've seen as long term investors is probably more than a 14 bagger downwards