Member Info for Mirasol

I see the anarchists (and make no mistake - taht is who these people are) at XR stopped distribution of the morning newspapers this morning on the grounds they were being ignored.

Big mistake. Even if they only hit the Murdoch Press no newspaper will support stopping other newspapers.

Expect investigations into them, negative publicity, exposes ...... the British Press has a well deserved reputation for getting their retribution in hot & heavy

Yes for cash and shares.

I'd imagine that what was bought was the stuff that is in use most of the time on site - when they want kit for some one-off job they'll get it from PW (and the engineers will still come from PW). They may also lease some kit back to PW for use elsewhere if UKOG/HHDL don't need it now. And of course it has to be stored somewhere and repaired/maintained. AFAIK UKOG don't have their own compound and they can't store stuff long-term at HH without planning permission so it may go back to Newark (most likely) or up to Moorhouse in Yorkshire.

One of the videos showed some of the kit was marked PW WELL TEST - they're based in Newark

"I would argue that is is none of your business what David's salary is."

What nonsense

We OWN the company Heid - not the Directors - it's called Shareholder capitalism - they work for US. We have every right (legal and moral) to know, and in a perfect world we'd get a vote on the compensation package for the BoD - but being AIM there are too many people (including your "uncle" over at UKOG) who take the cash and never think about the owners interets

RNS Feb 2019

, it has engaged a number of contractors, consultants and experts, one of which is Apex Completions, LLC ("Apex").
Headquartered in Houston, Texas, Apex, under an executed Contractor Agreement ("Agreement"), will help the Company further develop its understanding of the Portland and Kimmeridge reservoirs by delivering an integrated geological, geochemical, rock mechanics and reservoir engineering analysis and interpretation of the Company's Kimmeridge and Portland reservoir units. This work is designed to deliver a holistic understanding of the reservoir units in terms of characterisation and ultimately to help deliver a specific completion plan to extract oil at the best rates and volumes. The Agreement provides for Apex to periodically invoice UKOG for work carried out based upon the time spent by its personnel.
It is the Directors' viewpoint that Apex's technical approach and technologies are unique and not available elsewhere in the market place.
Allen Howard, UKOG's Non-Executive Chairman, is a Director of and a shareholder in Apex and, as a result, the Agreement is considered a related party transaction under AIM Rules.

I think we all need to remember that Mr Howard's companies have done business with UKOG/HHDL over the last 4-5 years.

I doubt he'd lead a charge against SS

"You are rewriting history here. There is no water cut issue in the HH layer. They pumped out intervention fluids.
What as a percentage of the total HH production was water? And how much of that was water , drilling fluids, or brine to weigh down the oil during interventions ?"

Tony - read what I wrote -there is no water problem at HH1 the problem is a HH2z where they finished the well in December and we're now in September with no production from it. This is because from their RNS of Febr 19th

" operations to shut off formation water ingress into its Horse Hill-2z ("HH-2z") horizontal production well have commenced. By means of a Halliburton coiled tubing unit, production logging tools will be run along the entire length of the 2,500 ft horizontal section to identify the source of water ingress, thought to be from a series of open natural fractures at the base or "toe" of the wellbore."

no mention of completion fluids, no mention of brine - only formation water. And they haven't reported any success. I think you're confused with the ANGS problems at Balcombe and Brockham where they claim the problem is drilling fluid.

Welcome Primula - always nice to see an optimistic new face on a Friday

" Allen D Howard is chairman and highly regarded in the industry. " Who says? SS??

SCC will overturn the decision, imo - possible but not certain

, or it will be overturned on appeal... certain but hat's an 18 month process

UK needs UKOG.. ridiculous

UK Gov needs Oil and Gas.... true - that's why they've just awarded 46 companies new acreage OFFSHORE and show no signs of offering more acreage onshore

STRONG BUY.... have you ever looked at the 3 year chart?

"The Kimmeridge layer at HH, Broadford bridge, etc appears to be a failure with water cut being a big problem. The Portland is the only section which will be of any significance but that is fairly low output at the moment. "

I think you're wrong here Nhawan - AFAIK they have never reported any water from the Kimm at either HH or BBr - the problem is low long term production after any fractures present give up their oil.

the Portland is only producing a tiny amount of water at HH1 amazingly little after 2 years testing and production - the problem at HH1 is lower than hoped for rates.

HH2z is not good - high water cuts apparently, fractures and so far little or no production - that indicates the initial reservoir model is incorrect.

With HH as it is currently UKOG are another very small oiler like EDR, UJO, ANGS etc - Turkey is risky and unlikely to be a barn buster but it might give them some income and a breathing space.

"The HH-2z well is currently shut in for a long duration pressure build up test to re-assess its connected oil volume. ... What we don't know is how long a "long duration" is."

I asked someone who knows about this a long time ago - excuse me if I get the details wrong

Apparently the calculation is done by flowing the well - then you shut in in and measure the pressure regularly- assuming its connected to more oil then the pressure gradually builds up towards the initial pressure. They use the slope of the graph and other jiggery-pokery to figure out how much oil is "pushing" the pressure up.

The problem is that the right sort of graph isn't linear with time (tho I think it is with pressure) - so the Y axis has pressure in 10,20, 30, 40 psi steps but the x-axis is log (t) - so something like 0.1 hour, 1, 10, 100, 1000, 10000, etc. So after the first day each extra data point is not only a long time since the last one but the difference is always increasing.

The short times, early in the test, give really are only sampling the near well area - to get out to say a kilometre you might have to shut it in for 3- 6 months.

Apparently Petroleum Engineers can never have enough data and would cheerfully shut down every well for a year - management have different view of course. Generally if the flows are high and there is no great immediate pressure drop after a few days they "take a view" and just keep going - it's when you're not certain and you might be near the economic limit that a long buildup is carried out normally apparently.

" I reckon there is 'ALOT' going on in the back ground here. No wonder he chuckles on those videos. Sit back with your golden tickets."

I can remember Heid posting the same chatty rubbish about SS over on UKOG - and now we know why her "uncle" was smiling" - he had a n AMAZING bonus in his contract.

What in Gods name are the "technicals"?

I hope its not a load of chartist lunacy.................

TrollH2 - can you explain to us how you can hold these two opinions 15 minutes apart?

Trollhunter2 today 14:18 UKOG have too many assets to progress all at once anyway.
Trollhunter2 today 14:33 Wouldn't want to be out over the weekend! UKOG is no one trick pony!!!

"I see on the four hour chart there is a nice Head & Shoulders pattern followed on by a Harami on the close. Make of it what you will. Break out one way or the other, Funds at the ready if we see .16 again or lower."

For those who aren't masters of the arcane (and worthless) art of Chartists it means he doesn't have a clue which way its going to go.......

" but this lot waste of space ."

English fraying again 10p................

And old Trollhunter clearly needs someone to remind what he said - losing track after 15 minutes - early Alzheimer's?

Trollhunter2 today 14:18 UKOG have too many assets to progress all at once anyway.

Trollhunter2 today 14:33 Wouldn't want to be out over the weekend! UKOG is no one trick pony!!!

"David maxwell said the meeting could take place on the 22/10/20 or could be November."

Did he say what year for November?? this really is taking the mickey .........................

"How can take companies like U J O / RBD etc. with the likeds of Premier or Tullow ??? They are companies with massive debts that may see them go under if there is not a substantial improvement in the price of Oil ..None of these issues apply to. U J O which can retrieve oil from Wressle at a far lower break even price .."

Absolutely right Lenin - you can't equate the them - Tullow and Premier produce tens of thousands of barrels a day from a variety of big fields, they have millions of barrels of proven reserves, they've been around for years and they have large institutional shareholders and large lines of credit lined up.

UJO is a tiny AIM (and that alone is a red flag) oiler with no production and the hopes of a few barrels a day from Wressle and perhaps some at an unknown time in the future from WN - and 11 Bn shares in circulation

No comparison..................

Really grim - application lodged May 2019 and the earliest they can make it is October 2020

The Govt needs to change the rules and make it a fixed period - say 6 months , to determine an application - if they don't do it by then it should be deemed approved. the current system is an open invitation to kick the can down the road.

If they lack the staff then they can up the Council Tax so the "concerned voters" can pay