Member Info for Mirasol

Agreed - then we don't get into an argument about conversion -

tonnes it is.......

multiply your bopd by 4 to get tonnes per month (approx)

Just a week to o go - anyone fancy a sweep for the August oil and water figures in Bpd?

Europa & Egypt was a few years back - they decided to look outside the UK and went to Egypt and took a block - unfortunately they thought they'd got it on a seismic option (which is unheard of onshore Egypt) and suddenly found they were actually on the hook for a well. IIRC they walked but lost the money they'd had to put into escrow with the Government.... there were boardroom casualties. But it's typical of small UK oilers - they eventually have to go elsewhere to add any real reserves and activity.

Call SS - he's probably got another 2 Bn lined up to dump next week

Europa are pretty much dead on their feet TBH - UK Onshore didn't work, Ireland didn't work and don't mention Egypt.....

"The irony is that for Loxley the analogous field is Horse Hill. Is this why Xodus would only perform a 'study' only calculating gas in place"

IIRC the problem that Xodus had was the lack of data to be able to confidently depth convert the seismic maps (which are in time) to depth. Limited coverage and 3 wells - GBr discovery, Gb2 was a catastrophic depth conversion issue apparently and Alford which appears to be dry but above Gbr1.......... Looking at the data on the UKGLibray map there isn't a lot of seismic and it's quite old.

I guess they just didn't feel very happy in signing off a formal CPR - they have, I think, indicated what "might" be there but that's not the same level of confidence by a long chalk

"I don't think any bank is going to struggle making a £12m loan lol"

Galifreyan - a £ 12 mm loan is too small for most banks in this sector - they need to make at least £ 1 mm in fees and around a GUARANTEED 5-10% return to make it worth their while. Banks pulled out of small project fiance like this about 20+ years ago - they really are looking to lend in the hundreds of millions to make their bonuses.

ANGS have a number of problems here - firstly the project is too small, secondly it doesn't offer much upside, thirdly the only security is the field itself, fourthly ANGS have a poor history of corporate governance and the ability to forecast costs and timescales.

Good post Cynders......................

"Does anybody know how much revenue is coming in at present "

SS does and so does his FD - one won't talk and the other only talks to the press about his other ventures

make your own mind up about what that indicates................

currently down 4% Westcott.....................

Rastuss - here is the info on the change of plan - the company never RNS'd the change - but its in their revised planning application but GL did (eventually) say "shorter period"

https://drillordrop.com/2020/08/27/plans-for-shorter-balcombe-well-test/

Angus Energy’s new plans to test for oil at its Balcombe site in West Sussex have been published. Earlier in 2020, the company withdrew a previous application for a three-year test after council planners said it was “not in the public interest” and “not appropriate to the area”. The new proposal, validated yesterday (26/8/2020), seeks permission for a one-year test. It stresses the importance of oil for energy and as an industrial feedstock and argues that any impacts would be “minor adverse”, “temporary and reversible”.

3000 bopd? Strange no-one ever saw, or heard of or reported a tanker leaving the site? And its clearly not still there. I suspect there was just enough to fill some sample bottles for the lab work

westcott has already turned - another "well informed" newbie - in other words TH2, 10p etc under a different name.

No doubt Fool will be back at 1800 today....................

If he can comment on a non-decision in the court case why can't he give us an RNS about HH1 production and the HH2z fiasco?

Good God! 10p is back!!

Big dilution due any day folks.....................

"Now it is over to Tim to chair the meeting properly and to ask for a vote to support the application. No silly parlour games. As chairman, given the officers recommendation, his duty should be to ask for a vote in support of the application, vote on that. No votes for further deferral, no vote to refuse application with mickey mouse reasoning. The SCC Planning Officer recommends PERMIT. To vote against that will leave SCC in a massive legal hole."

Not how it works - all committee members have a right to speak, and the public may also make short speeches - that's the rules.

Committees often vote against the professional advice and there is no way they can be sued if they do - they are allowed to look at " a bigger picture" otherwise why have them at all?

The Egdon case mean they got their Legal cost for the second enquiry only because the Council didn't turn up.

"Traders will pay more tomorrow to buy back in with this strong buying."

Then they'd be stupid - the price is hardly moving in real terms - 2 thousandths of a penny..............

" ANGS thinks it more likely that they will get a 3 year EWT rather than an open ended one"

They amended it to one year some time ago I'm afraid...............

"With SS unable to announce what is going to happen "

it's not UNABLE it's UNWILLING

"If he decides to wait on Heathrow, in my opinion, it is a cowardly way of saying that he can't make his own decisions and stand by them."

That's not how it works - he may decide that since a very similar challenge is being considered well above his pay grade he'll wait rather than kick off another waste of time as it gets appealed up to those currently looking at the LHR decision