Member Info for Mirasol

Thanks panther

"Markets anticipate the future"

And as LTH's we all know what the future brings here............

Hey TYmers - when do we see 10p???

"For more than 2 years, now Mirasol has posted, at best, a glass half-empty point of view across at least 3 boards that I have an interest in. I am not sure I have ever seen anything positive, at least without a caveat, or an additional negative point or two thrown in to make an overall pessimistic point. Not that I object to an alternative view, if well presented, but it must be hard work going the extra mile to point out all the flaws in everything all of the time, Mirasol?"

I'm pessimistic because in that period these stocks have cratered - I need 2P to break even on UKOG, and 6p on ANGS - UJO I'm about square, EDR I was lucky to get out ahead . I post because there are so many people pumping these stocks, telling everyone it's jam to morrow when the record clearly shows we're being taken for a ride

All of them (with the exception of EDR) are run by your classic AIM promoters - they take out a fortune, dilute the stock to hell and beyond and continually promise success - which never happens. Luckily I don't have a significant portion of my investments in these stocks but you have to admit they are all pretty disastrous investments run by people you wouldn't trust to run a stall at the local fete. If you go back far enough you'll see I was supportive of SS - I thought he was going about things in a steady scientific manner but I'm afraid the final straw for me was last years bonus

"why don't they come clean and tell us exactly what the situation is and what the updated plan is for HH? Well we know why don't we, it's because they are now off on the wild Turkey chase, requiring significant funding."

reminds me of how they sat on BBr1 for months as they were clearly desperate to raise more cash

"The HH2z well didn't finish production testing"

I don't think it ever has been on "production test" - possibly some short flows to check oil/water percentages , producing while running a production log etc but we never saw any big step up in tankers even . It's outrageous that they've never given an explanation or update and it's a lifetime since we had corporate update and future guidance on anything - the last one I can see is Jan 2019

That had wells in Arreton (Q1 2020), Godley Bridge?dunsfold (Q2 2020) , BBr sidetrack (Q3 2020). Arreton South (Q3 2020) and PEDL 234 new KL well (Q4 2020) - and, of course "further production wells at HH.

The question is Panther how much KA net pay did they have at B1 in their pre-drill?

I doubt they'd have drilled the well into an area they assumed was very poor just to test the Cadeby and a thin KA - I think we have to assume it wasn't as good as they hoped - hence the immediate decision to sidetrack

Firstly he actually has to produce the gas secondly the sudden increase in CAPEX costs due to the usual sloppy prep work at ANGS has put the frighteners on people - they'd hoped things would go better under Lucan, not to have another show of poor planning

"If it is a no-deal, I do wonder whether the UK market may not react with relief, that the uncertainty has finally been removed."

More likely panic when the reality sets in - higher tariffs, higher costs, long delays at ports

ZYX - remarkably well informed for a newbie................

The timeslice - the tiny image bottom right - looks to have a fault running at an angle of around 75 degrees to the box in the bottom third of the area - see the break in the large black reflector. Of course

a) the time slice could be at any level and
b) they haven't shown North on it - the map seems to show the long axis of the cube runs N-S tho'

Panther - accordingot teh Geophysical Library Rathlin shot a 3D over W newton in 2014

Survey name WEST NEWTON-14
Operator RATHLIN
Vintage 2014
Inline range 1 to 272
Crossline range 1 to 215
Area (sq km) 41
Shot by TESLA
Source Dynamite/Vibroseis
Survey ID RL153DL001

https://ukogl.org.uk/map/?e=-90957,7078137,12998,7161377&l=1075054341,16,0&f=3,30033,-685,7131261&b=3&sm=true shows the map of the extent and
https://ukogl.org.uk/map/php/images.php?subfolder=seismic\3d&filename=WEST%20NEWTON-14.jpg
Shows the cube

"It is still pressure build up , produces fixed amount or down to a target pressure, and monitored pressure build up again gathering all the correct data. He is trying to measure the reserve size or the connectivity to the Kim or HH2"

You don't produce in a long term pressure buildup - doing so upsets the equilibrium and you effectively are starting all over again - its been explained many times that the distance you can "see" from the analysis is , unfortunately , a semi-log graph - so you see 100 ft in say 10 hours, 200 ft in 100 hours, 200 ft in 1000 hours etc etc

That's why these buildups take so long

Mr Daniel Levi (Sinner) @BrokermanDaniel

Google Daniel Levy - I wouldn't trust him on anything, ever. he make Dave Lenigas look like the Archbishop of Canterbury

HITS - you are right - the problem is that for all these companies saying "there'll be news soon" or "there'll be a CPR" is that its fine and dandy until they look at it and realise that a RNS and a CPR have to be properly checked and you can't risk misleading people in either. So then we get the longggggg silences........

"Unfortunately this "no news" situation seems to be the ongoing norm with ANGS - and that is less palatable."

No - it's normal for well run companies - people like BP aren't expected to make game changing announcements every day just so day traders can make a few bob. The real news flow is really low in these companies as they do so little and it all takes months to years. It's interesting to compare EDR, who have been around for well over 20 years and (say) UJO . EDr have 2 large shareholders who seem to hold no matter what - they put out maybe one operational RNS every 2 months or even longer - that's the reality of Onshore UK O&G I'm afraid.

"Are you really comparing West Newton to the Weald?!!!!!"

NO - I'm comparing UJO/RR to every other onshore small cap I've invested in ver 25 years - just look at the history - company after company "finds" a "transformative" field at least as big as Wytch Farm. A year or so later the test results and the initial production comes in at maybe 500 bopd and then falls like a stone once the water breaks through.

There's a reason that the big outfits left the onshore in the late 80's and 90's - there are no large fields to be found

We have small fields which are pushed by the management to fund their life styles - just go and look at Avington for a nice case history

"Someone suggesting on Twitter that UKOG may be doing some sneaky production at night and then turning it off in the day."

probably the same people who where convinced they were using a secret pipeline a couple of years ago to sneak out the trillions of barrels they were producing?

"They could then keep flowing oil and filling the bank account ready to drill Turkey in January :-)"

TH2 - there is no statement about drilling on Resan in January and you know it

The AME presentation shows Resan Y being drilled in Aug/Sept 2021 so let's not have false statements trying to whip up a price rise please. AME have NO new wells scheduled until March

"I can't really get my head around how the sp is down & lower than before the smashing news of yesterday"

because canny AIM investors know that small cap E&P companies are brilliant at announcing "transformative" news which drizzles away once the well is put on long-term test. Day traders know there'll be an announcement of massive rates (but no timeframe given) which enables them to get out .

Look at Horse Hill, and before that Balcombe, and before that Avington, and before that...................