Member Info for Mirasol

"it ought to be run by the military"

Ah yes - the people who deliver every pace of new kit late and zillion s over budget...

Have you ever read the reports of the Commons Finance Committees into military spending??

Blueprint - you are using P10 acreage to calculate P10, p50 and P90 reserves

To do it properly you need to douse p50 acreage for P50 reserves and P90 area for p90 reserves - that will reduce those out comes significantly

and of course you shouldn't use P10. P50 et unless you've run a full Monte Carlo analysis which will give you the statistically derived numbers

What you have if you just use single inputs for each "level" is Low, Medium & High and not the Probability numbers

"it’s my current understanding they are proving very difficult to get hold of "

Lunus - there are 4-5 possible rigs some old some older. google how many wells have been drilled onshore UK in the last 3 years

if you want one they'll send a Bentley to pick you up AND give you a Gold Parker Pen (real gold!) to sign the rig contract

There is bugger all activity and the rig business is on its knees

Not that I've seen - normally you only find out what rig has been contracted when it turns up on site. and its normally via DoD.

For a long term test they don't need a big rig if they've run most of the downhole piping etc before the last one left - workover rig or coiled tubing can be used for most of the test activities (or even a crane as at HH if its not in the horizontal section)

The contract is with the rig company - they will take whoever is willing to sign a firm contract with them. If EDR have a firm contract after the latest WN well then that's where it goes.

UJO might be able to broker a deal to swap slots between RR and EDR but on the other hand they probably want production as soon as possible

God - that RNS is over 5 years old.... no wonder not many people want to explore onshore UK

Lunus - there are several rigs probably available right now - the big question is do you take the risk of taking a rig that has been cold stacked for maybe 12-18 months

You might be able to conduct the test with a work-over rig but a horizontal section makes it tougher

"but when ever C,Oil and all the rampers got involved it has soured my investment,"

Exactly - these low life pretty much guarantee there'll be a manufactured spike but they'll be long gone with their profits when the normal PI's are left holding a wrecked share price

"Chris oil in this too? jeez..."

Well we've all been warned - Mr Ramptastic from Malvern himself.................

Placing at mates rates Heid - did you get a share?

"not to mention Brockham or Balcombe"

I wouldn't either - two dogs they never talk about now

"SAS Officer. Oh my lord. Thats so funny. One for the Christmas Crackers. Closest SS has been to an SAS officer is receiving a drink from a Scandinavian Airlines flight attendant....."

Sorry - he WAS an officer in the SAS - apparently in Germany for a while I think - it was well covered at the time of the original HH discovery and someone like Alastair Osbourne in"The Times" or "private Eye" would have outed him years ago if it wasn't true

"The oil made Norway rich but the "young people who can’t remember being poor want to go electric and turn off their oil industry."

Actually it always was electric - Hydro power - i can remember just before the oil every tiny village in Norway kept the street lights running 24/7 - it was cheaper than turning them off...............

lunus - I think that's a pretty balanced post - I'm not saying there is NO hydrocarbons - just we have no idea until they test - history is littered with predictions made on the basis of electric logging (and even core) that turned out to be disappointing

As for heid and "David's" placing... the PI's stuffed once again buy leaks from this company...

taking some pre-Christmas pennies after the latest rise?

"Mirasol - any reason you think it won't flow. Sure there is always a risk, but with the information released so far with substantial net pay, continuity over a large area and decent porosities, from what is a prolific producing basin."

Spike - these reservoirs have been explored for onshore and offshore for many years and TBH they aren't very successful - it's not that there isn't hydrocarbons - it seems to be the problem is the presence and quality of the reservoir varies very rapidly. Some of the offshore discoveries in Egdon's acreage were made 55 years ago and still haven't come into production.

My second point is one that every ramper ignores - when was the last big discovery onshore UK? And how many claims have been made since?? There is a very long list from multiple companies and basins for a "second Wytch Farm" - yet a few years later the stock values are in the gutter while the BoD sail away into the sunset on their yachts

Just the facts Mr I, just the facts ..

these wells have yet to be tested - and we know that there's many a slip etc on AIM - Brockham, Balcombe, Horse Hill relatively recently - and worse if you go back further....... Avington is a favourite but also Egdon in Teeside and the Midlands.

"returning" 10p???

When did you sell out???

It wouldn't be Christmas without ol' 10p Tymers- glad to see the young lad still working hard..............

"Wonder who has a lot of Gas ?"

Good question - until they flow it and produce it it isn't RR or UJO