Member Info for Mirasol

"Over on another board that shall not be named, I believe that it has been reported for several years that a standard UK tanker holds the equivalent of 220 boo. What is 20 odd boo either way between friends"

Depends on the density of the oil , if it has any water left in it, and the exact spec of the tanker. As you say few barrels either way doesn't really matter

" the necessary documentation being vetted by the lawyers."

Where did he say that?

I thought he sounded very frustrated Ocelot - not surprising - he has the contacts I'm sure but they're not delivering

It must be a grim feeling...... clearly all he gets is excuses

dredging is a separate issue - and its to do with the ecology (and the cost) rather than climate change

and if people will buy houses on flood plains......................

"We are talking about facts here not random weather patterns"

They're not random dear boy its a matter of acceleration in the rate of change

Even those ultra leftist organisations such as the Geological Society and the American Assoc. of Petroleum Geologist agree

"Is it a coincidence that since the installation of wind turbines that flooding in Great Britain has got a lot worse, check dates. "

I'd suggest t you spend some time checking the science - about 30 years when people started to accept that climate change was accelerating (not happening - it happens all the time) they forecast that the UK would be warmer but a lo t stormier - and so it has come to pass

"In Humberside there will be a CCS facility to bury it in old gas fields."

Which no-one has yet proved to be possible in the UK - nor are there any contracts to do so - nor any prices..............

Lets face the whole Hull Hydrogen Hub thing is, at best, an aspiration... nothing has been done, there are no clear costs or timeframes. The cynical would see it as putting down a marker for vast Govt subsidies.

Doesn't sound very cheap to me..

Just Heid and other bang on about Hydrogen in the Humber area ..... but UJO wouldn't be producing hydrogen -

"Next week is something really worth looking forward to"

Why? What's happening?? It didn't sound from the Q&A that the big raise is likely to be going through.... they had to do small raise to keep the lights on , remember?

Ibug - you are confused about a "farm-in"

UKOG built a lot of their stake in HH by purchasing other people's stake - that is NOT a farm-in

A farm-in is when you pay a proportion of someone else's costs and earn a percentage from them by doing so - eg in a 2 for 1 you pay say 30% of the costs up to a certain point to earn 15% of the interest - and after that you only pay the 15%.

the Turkish deal IS a farmin but most of the other deals were purchases.

Yes - the whole point of hydrogen is to replace oil & natural gas surely?

" it has 4 drill ready prospects, with one suggested as the same size in recoverable hydrocarbons as WN."

We have no idea on recovery factors as yet - we don't know at what rate the wells can flow and for how long - that's why no-one will pay mega-bucks right now and why the share price stays where it is

"Are we sure some sort of discovery has in fact been made or is it all just conjecture"

The companies claim to have found oil & gas - what is needed is an extended well test to see how well it flows

"Usually as you say it can be 50%+1 or as high as 70%, it almost never requires unanimity,"

Good post - I understand some have both a passmark (say 60% )but require at least two companies to vote in favour - to stop a big owner steamrolling the smaller fry - but as you say voting is probably the biggest difference between any two JOA's - a lot of the rest is very standard.

"UJO want WN Gas cash for its own objectives."

Given the enormous problems of exploring onshore UK and the relatively small size of discoveries I think UJO should hold onto anything that makes them money. Think of other small oilers who found something big and sold out to go elsewhere - Rockhopper, Cairn.. for example. The money was frittered away on exploration over the years

"the stock market doesn't do sympathy and isn't overly interested in the past either."

This generally true but the stock market also remembers that if you have a history of over promising and underdelivering that is factored into the equation.

It's not just UKOG - UJO & ANGS also have issues with similar gung-ho promises that haven't been achieved in the promised cost/timeframe (if at all) - now the market waits for solid, provable facts before buying in

"Come on GL give us the funding news."

he did .........

"Funds and individuals can sit on their hands for so long before they start losing feeling in them"

I really doubt anyone would pay serious money for UJO before they see the EWT results

"If 2D seismic is going to cost $1-1.5m in Turkey how much are they going to need to carry out 40 km2 of 3D in the UK:?"

A lot - well over £ 10,000 a sq km I believe - if they can get planning permission - and imagine the fun of trying to protect several lines of kit posted every 200m and each a couple of kms long spread across country from the Swampies........

I doubt UKOG will ever be able to do a 3D onshore in the Weald