Member Info for Mirasol

No-one can or should forget the sacrifice - but the oil industry will work with anyone - they have a major presence in Argentina right now - far bigger investments than Sea Lion.

The Falklands War was fought so that the people of the FI could choose their own Govt. It was nothing to with any financial interests.

And people there will always remind you that a lot of Argentineans were willing to die for the islands as well.

"Annoying though why an oil company wanting to be taken seriously by global investors does not post updates in English as well as Hebrew. Most medium sized European oil companies would be posting in English."

Do they want to be taken seriously by global investors? they're only quoted on the Tel Aviv exchange, not on London or NY and they're doing alright it seems to me. Why get into all the hassle of the rules and regs elsewhere? And they're Israeli so fiercely patriotic. If they don't use Hebrew no one lese will for sure (think Welsh/Quebecois).

They often issue an English version in a couple of days anyway

"HMG does not have any say in giving permission. " - perhaps not legally but the islanders know who calls the shots, pays for defence, arranges the supply of goods etc to the islands and keep the Argies at bay. And it isn't Navitas & RKH.

"Starmer and this crippled government doesn’t need any more hassle…they won’t and can’t interfere ." - this is more like it - they won't want to have to fight the FI lobby when they're already in deep brown stuff.

05-Nov-25 0.1411 m.cum per day

06-Nov-25 0.1335

07-Nov-25 0.1438

08-Nov-25 0.1403

09-Nov-25 0.1528

10-Nov-25 0.1507

11-Nov-25 0.1532

12-Nov-25 0.1496

13-Nov-25 0.1483

14-Nov-25 0.1584

15-Nov-25 0.1460

30 day running average = 0.1430 m.cum per day

Production improved slightly over the last week. Now back at Jan 25 levels. Also 6 weeks since they had to shut in for work.

I agree Much - a great change for everyone

My only concern is that while vast sums of money often flow into lucky oil companies the shareholders often don't seem to see any much of it - it goes in taxes, salaries, new offices, studies, wild ventures somewhere else. I'd love to see RKH announce a plan as just how they plan to return cash to us - Dividends, share buy-backs - whatever.

New shareholders will want to see that as well. There'll almost certainly be a short term rise on FID but I think capturing a profit would be a good idea.

The Chuckle Brothers never said they worked for free.................

Fine Galder - but what's the profit? Is it enough to pay what they owe to Trafigura??

"but I do believe they will appraise Isobel sooner rather than later (just needs 2-3 prods) "

as previously discussed there is probably a reasonable case for taking a short break from Sea Lion development drilling around the end of phase 1 (8 wells = a year and a quarter ) just to allow the reservoir engineers to catch up with their analysis and plot Phase 2 properly. One or two wells elsewhere and maybe cut a deal with JHI to drill one next door

Putting all the income into the USA without cutting costs in the Uk means they're faced with a bad future. Now really dependent on Wressle production but that won't generate enough to do anything that will change the medium term outlook. Raising serious funds will be extremely difficult given their record.

It'll be like UKOG - a zombie company kept alive by pump & dump merchants

"The trouble is that Richard Herbert set up the loan agreements with Trafigura, secured them against all of the company’s assets an"

To be fair he had little choice. They screwed up the development by believing they could use second hand kit from the USA without proper certification - that meant they spent a lot more than planned but even worse it delayed startup so they missed the best gas prices in a generation. Then they drilled a well that went so badly wrong they've never dared tell anyone what it cost - tho the industry believes it was possibly the most expensive onshore well ever drilled in the UK. And it underperformed.

Basically they've been behind the income/outgoing curve since day 1 and have had to get cash from where they could. That's why we're in the hands of the financiers now

So ANGS are going to buy into the GoM - Kosmo's share of the Winterfell Field alone is circa 25 mm bbl Proven developed producing - that's worth circa $300 mm dollars. They're also drilling wells and their share of EACH one is over $ 15 mm net. And ANGS can't even pay the miniscule amounts they already owe Trafigura......

Sure - it's clearly a certainty :(((((((((

"Note that at no stage have the owners of the group of producing assets in the Gulf of America/Mexico withdrawn"

Since we have no idea who they are or even if they exist that's a silly statement. Many statements from the company have been proven dramatically wrong in the past - I can't see why anyone, other than someone on the payroll, would give them any credence whatsoever.

And what has happened since those letters were published? Zero

"Surely a red flag must be raised if the public declared asset value today is £81.96M and it gets washed out for a £20m debt"

Happens all the time - the issue is that the NAV is the companies view of its value and is largely a smoke & mirrors accounting exercise where past investment is seen as "value". I don't think you'd get any third party paying anything like that in an open market - look at UKOG for an extreme case. No, Trafigura have the company over a barrel and it's only a matter of time. It's not just Herbert - JTS has bailed out and when did we last hear from Zielicki?

"I hate posters who spout cryptic nonsense"

its totally pointless as no-one, other than 5 or 6 old hands - understands a word.................. it's like a kids club with "secret" passwords.............

The Southern Basin is a no go area - just compare the depths and weather. It's like W of Shetland or offshore Greenland compared to the N basin and Sea Lion which is pretty close to N Sea conditions. Withe price of oil less than firm NOONE is going to farm into Borders. There's plenty for Navitas to do on the RKH acreage - as people are always saying - Isobel for example - and there's always the JHI acreage next door. Argos were puffing 20 possible targets (unrisked) a few years back - and it's right next to Sea Lion. Why go take the risk on an area with immense CAPEX and OPEX such as the S Basin?

"It's astounding that Malcy keeps pumping UJO. He's still adamant that it's a great company with a highly successful US operation."

Malcy puffs people who pay him and slags off those who don't

TrollHunter2 Posted in: UKOG Posts: 2,295 Price: 0.175

No Opinion

Massive oil field in Turkey23 Nov 2020 11:53

Happening early next year......couple of months away now.

Loxley and Horse Hill to bridge the gap between now and then.

IoW to happen next year also..... permissions in discussion but will be financed by Resan success.

This is no one field oil company. Several plays and several wells planned in each field.

Mid-Cap oil and gas company status within reach.... could all change very quickly, especially with Resan result early next year and production by the summer. £££££££££££££ :-)

Enjoy the transformational ride from here chaps.

Quote over 9 months old - nothing has happened since

And the apparent disappearance of Zielicki

Trafigura probably want to keep the actual work at arms length - to avoid any abandonment liability. Cut down the management to one or two, outsource the ops to someone like Charlie Palmer's outfit , rake in the cash through repayment of "loans", "defaults" and "interest", keep the shares suspended as long as possible. Delisting would save them money but its always useful to have a quoted vehicle in case you come up with another Cunning Plan to shove out on AIM