Member Info for Mirasol

"All this talk of cln ,share dilution is already built into the price"

Sting I have some sympathy for your long piece - I certainly only blame myself for not selling when it got over 5p but if the dilution was built-in why did the price drop from 0.3p to 0.24 p this week after yet another dilution?

"but making outrageous prognostications of ridiculous increases in a short period of time is fraud. Many have gone to prison for it."

name three.

the FSA never looks at AIM - if it did it would never do anything else. The BB's love it because it generates clicks and advertising income , the companies can't be bothered to read it .

It's really care in the Community - if 10pTymers wasn't on here he'd be bothering people on their doorstep asking them "have you found Jesus?" and people like me would be handing out pamphlets outside football grounds dcescribing the End of the World.

"There are 637,500,000 new shares listed for trading today"

Astonishing that people can say that and not flinch...............

You answered your own w question "on or around 01 May 2020" - that means it could be later

All those brokers and big II are out dancing round the Maypole this morning..................

"What you all think it would take to make the share price go back to that 9p like in July 2017? Genuine question, is it possible? What do you think it would take?"

That's crazy country -confidence in the BoD is very low here and only facts will change it

You'd have to show the Kimmeridge not only works well at HH (say 1000 bopd form that horizon alone - maybe in 2 months time) AND you can do it somewhere else as well (at least a year away) - a big oil find on the Isle of Wight (at least a year away). A take-over (but no-one is interested in it)

I want them established as a small, profitable company that can more to RBL instead of the insanity of payday loans. I'd settle for 2.1 p sometime in 2021 but I'm less and less confident

"The BoD need to strike a deal with funders to get a reign on this otherwise the shares in issue will get excessive and all holders will suffer unless they have something good to report."

The big holders have no interest in UKOG's long term prospects - all they want is their cash out.

Tellurian decided over a year ago that they wanted out - totally non-core and a regulatory cost plus chance of reputational damage due to swampies, earthquakes etc etc. All the costs are sunk and written off so they just want cash - with the way things are in the USA right now they're need every cent immediately.

Riverfort and YA just want their cash back - they never hold the stock for more than the absolute minimum time - and why would they - they get a guaranteed 10% as long they can find a buyer. The fact the latest raise wasn't done through them strongly suggests they think the chance of finding further buyers (other than 10pTymers of course) is becoming very hard.

None of these people has any interest in, or duty of care towards, the punters. That should be the Board's job - but I don't think there's any confidence here in them (except for 10pTymers of course).

The average UK petrol station sells around 30,000 barrels of oil per year - I think the big supermarket ones maybe 2x or 3x the average

So HH will keep 3-4 petrol stations in business - massive, absolutely massive

"Although we are out of tge EU I was under the impression the UK must have 90 days in reserve."

That's what the Eu recommended but neither the UK nor Denmark had the capacity - anyway Oil & gas are reserved to the individual countries - I think it was "looked at" and may even have become an "aspiration" but not a $ was ever spent on it.

I did hear that at the time of the Ukraine crisis when it looked as if Russian gas would disappear the Govt. informed the oil companies that they might step in and issue a Direction to open the taps and damn the consequences for ultimate recovery, maintenance, contracted amounts etc etc . But it never came to that...........

I believe the idea was to "concentrate the minds" and stop people just hanging onto acreage so as to have a nice yellow blob on the map- I'd guess they'll balance the Licence costs against the chances of achieving something in a reasonable time frame

"Anyone what is the current uk stock position for Brent?"

The UK does not have a national strategic storage reserve - it has tiny amount of gas stored. The Govt don't want to pay for it and they just point at the N sea and say taht's our strategic reserve.

Stock is held in refineries, offshore, pipelines etc end 2019 there was around 6 million tonnes (circa 45 mmbbl oil & products) in the system
https://www.gov.uk/government/statistics/oil-and-oil-products-section-3-energy-trends

I've never seen a forecast for Brent storage in the UK

My guess would be he was delayed earlier somewhere else due to covid & social distancing and arrived too late to make the trip to the refinery. Better to overnight somewhere with security, showers and food and away from the madding crowd and get an early start today.

"More lies from the DHC. Who expected anything else from this bitter troll?"

Absolutely Wizz he's ramped, he's trolled, he's lied through his teeth here and on other boards - the worst of them all IMHO

"The Kimmeridge has produced more oil than the Portland under the EWT of HH1 so why do you think that it will produce less in production when on duel flow than the Portland flow?"

I think you're confusing total production with rates Wizz - in general they've been shipping 220 bopd when they've been on long-ish term flow - mainly that has been Portland but some of it has also been Kimm. As I said if they really thought they could flow the HH1 Kimm at 400 bopd without damaging the reservoir or bringing in water they'd be doing that rather than ticking withe Portland for now.

Suggest the MAX combined flow from HH1 will 450-500 bopd but probably more like 300-350 bopd.

that's enough to keep them afloat if they trim back and also don't pay any more bonuses

we have not yet seen the Kimmeridge in production mode as the previous rates have all been under EWT with OGA "restrictions."

I think you'll find Wiz that they were being careful about Kimm production rates as they had no idea of how it would perform and they were being careful to avoid pulling in water. The OGA just set limits on TOTAL production (which they kept changing when asked nicely) and not DAILY production.

The company have been very cagey about expected rates from the Kimm - which suggests to me they don't really know even now. If they had expected high rates (or higher than 220 bopd) they would have switched HH1 to Kimm rather than Portland

"Unless of course they lied in the final results RNS:-"

people don't lie in an RNS - they may not say everything or they may be very careful about their use of words but no outright lies...........

Double headed Crook has the nerve to come back - the man who spent months telling the poor sods over on Angus how Brockham had flowed at 2000 bopd and would make their fortunes - lowest of the low

"no expensive BOD, London head office,"

The "Head Office" is their registered office in the City - I don't believe they operate from there

Back in 2017 the office was in Guildford - and according to the Injunction against the swampies it's still there (but maybe not the same address?). Guildford isn't as cheap as Odiham (egdon) but a lot cheaper than the City

" Often abbreviated as OPEX, operating expenses include rent, equipment, inventory costs, marketing, payroll, insurance, step costs, and funds allocated for research and development."

yes and like all accounting numbers its a "matter of judgement" what you add in -for example most people would include "payroll and insurance " for the guys on site - but maybe not the accounts department back in the office - but you might say one accountant is employed full-time on HH so we'll stick her costs into OPEX. Directors bonus - probably not. Kit - rentals are OPEX for sure - but kit you own and maybe move from site to site (eg a crane) could be CAPEX, could be OPEX, could be overhead.

Its a guidance number - and without an audit it is only an example - it has no legal or accounting meaning TBH

Has anyone ever tabulated just how much YA et all have made from their UKOG loan since they started lending?

I'd guess PCS might have the numbers but he's no longer posting here...............