Member Info for Mirasol

Chuckles - supposedly on here since 2010 - 40 posts - only one in last month UKOG on a Saturday ramping - probably HH1...........

"ght smell the coffee,UK NO STEEL NO OIL NO GAS where does that leave us if there a war ,out on a limb NO SHIP BUILDING NO NOTHING LEFT, I could go on all day,"

What sort of war do you think we'll be in and against who? It's not going to WW1 or WW2 - it'll either be one big flash and the UK is a cinder or it's cyber-war - we won't be building destroyers or Spitfires for heavens sake.

Shipbuilding and a lot of other industries are gone to places where they can do it cheaper and faster - we make money by selling expensive cars, very expensive schooling, entertainments, things like satellites and oil - oh and tax avoidance of course

It does indeed Panther - Northern are just one of a number of small cap oilers who have moved overseas as the UK Onshore has been -? hard work? Europa, Celtique, Midmar......... it's quite a list

TB H I though Cabot/Northern had gone but I see thy still hang on but

"Following the cancellation from trading on AIM, Cabot Energy has put in place an auction-based secondary market trading facility with Asset Match. For more information, please visit the Cabot Energy page on Asset Match.
For any direct enquiries, email dealing@assetmatch.com or telephone: +44 "

What interests me is that after 24 hours since the RNS we haven't (thank God) seen a further sell-off but neither have we seen a great rush to buy.

That suggests to me that investors are balancing the extra expenditure on Turkey and the clear relegation of expectations on HH and the Weald against a possible high risk chance of a success in the new venture. It's clear that even SS doesn't believe HH will ever be a game changer now and is frustrated with the the whole UK Onshore scene. He'd probably sell if anyone wants to buy.

I think we should expect a steady drift towards foreign ventures if they can continue to raise cash.

Given that TUKOG seem to have given up believing why would anyone try and resuscitate Balcombe?

Far better to concentrate on SFB

He's actually Turkish, speaks the language, has a villa by the Bosphorus convenient for his yacht, has held every UKOG share he's ever bought, never sells but is showing a 100 bagger profit...

In fact he's a sad kid in Mumbai having to post on this board to pay his way through college

"I agree this additional 300 million barrels I our portfolio"

You forgot the words un-risked & undiscovered 10p- remember the un-risked and undiscovered Kimm potential of the Weald?

We're stuck in a company that maybe producing 300 bopd, has to find another 5 million and has decided not to expend more cash on its flagship but to go off to the wilds of Turkey

Panther - the slide pack is quite useful - the new acreage is between 150 and 200 kms from the Kurdistan fields everyone is talking about - so not close. Looks from the pictures to be a classic surface anticline play that may already have been drilled - hence the mention of "missed pay"

"So why do they need UKOG? Why haven't they already gone ahead and done it?"

Exploration pointed out earlier the Turks use Other People's Money to explore and to keep their drilling rigs busy. They're always on the look out for someone new and must have seen those pink trousers as manna from heaven.

What is astounding to me is all the rampers who have spent years going on about building "a UK Asset of National Significance" are all happy with SS and the (un-invested ) BoD doing the same for Turkey

Looking at the prices the market is less than impressed

Thanks Exploration - very informative - so they have 2 rigs which I'm sure they'll use at a "special price" to their new buddies TUKOG - bought & sold....................

"Genel operates in Iraqi Kurdistan (UKOG's presentation mentions a couple of its fields)."

They are 150-200 kms away from this - looking closely at the pictures it looks as if they are drilling surface anticlines - a lot of oil was found in those but by the early 70's they'd all been drilled - hence the "missed play" approach (which is the story on the Isle of Wight as well).

Sounds risky to me - I can remember a lot of small UK oilers suddenly going foreign to save their pay cheques - it rarely ends well for the punters - - Northern anyone?

slightly better than the usual reaction to a UKOG RNS

And where is the news on HH?

The offsetting fields were found 60-80 years ago and the last one wasn't very big - I can't believe that this is unexplored potential I'm afraid.

"where is the link? False News!" Coming from a foaming at the mouth never heard of before merchant??

Try https://www.pwc.com.tr/oil-gas

There are 12 companies in Turkey including the State oil company and refiners - that's a lot lower than UK Onshore............. it's a small, niche market

has some oil & gas but its relatively small - a bit like the UK Onshore - and I've heard it's complex as well. I think they'd have been better off looking in Egypt or Morocco for a new venture - once they'd made a success of the "Flagship"

"when was the last UKOG RNS stating 50% of a 600 MillIon barrel reserve"

A couple of years back when they were talking about the Kimm IIRC.... oh sorry ' that was HH ' a resource of national importance ' that seems to have disappeared.

And Tymers - 600 MB is an educated guess - if they need more seismic it means its all smoke / mirrors ' again.

Classic diversion - we've seen this so many times - Northern, Europa, Midmar, Celtique................... A diversion into foreign parts as they can't make the UK work and a spiral down towards

A few points - non-operated so no control over day to day ops, secondly very close to the Syrian/Iraq border - a bit hairy I'd guess.

Still no update on HH..............

"Clarification of any of the points you mention could well be interpreted as good news, given where the share price currently
is."

It all depends on what the news is - minimum to stop the slide would be a steady 300+ from the Portland + 100 from the Kimm in Hh1 with minimal water (we have to accept they are getting some after 2 years), something that shows we can save HH2z and maybe get another 300 bopd from there. A forward plan, production guidance for the whole year and the CPR commissioned.

More than this could raise the share price, less it will continue to slide IMHO.

"With the bad news is out"

regretfully that is incorrect - we have no guidance on 2020 production, no detail of flow rates (actual or expected) from HH2z, no news on the kimm, no update on the Portland in HH1, no news of the CPR. No forward plan and no discussion of financing .

I have written off this investment and the only reason for not selling is that I'm waiting to take the loss to offset gains somewhere else