Member Info for Mirasol

circa 17 million in big trades so far this morning - looks like Tellurian are catching up after a couple of days of no trades...

prices 0.33 to 0.38

" fully funded for 3D seismic as necessary."

I look forward to them trying to acquire that onshore UK - the protestors will be all over them like a rash and the worst of the swampies will have a field day sabotaging kit and operations.

"I dread to think what will happen in Africa as it takes hold. "

Two weeks ago the BBC had an interview witha local aid worker in some hell hole liek the Central African Republic - he was asked about COVID-19

"Here? No-one is doing anything, no-one knows about it. Yes it will kill people but who will notice? People die here every day from all sorts of diseases. Covid seems to kill more old people - there aren't many people here who ever reach 65"

Reaction - what has happened in the ++7 months since that quote????

Bugger all TBH

176,000 acres/431.25 square miles is wrong - 176,000 acres is 275 sq miles

"Anyone normal would turn the taps off to stop the bath from overflowing."

But it's a lot of different taps filling the bath - and every one who owns a tap needs the money - they need it even more with the price so low - and then the Virus on top. Hard to shut your tap if you think it may bring the mob out onto the streets............

"Quite unbelievable to be honest that a third world country with pemex having ridiculous debt holding it all up lol."

and the rest of OPEC aren't Third World???

"Is it Not the case, that although we are a production company, the wells at horsehill are still in test mode and therefore restricted to output."

Once the FDP is approved its up to the Company how it runs the test not the OGA - all it has to do is to fit within the agreed Planning Constraints. It suits SS to say its on test as that gives wriggle room to allow for stopping and starting and not running it at a steady rate. The lack of waste tankers either means it's shut-in or it's cleaned up - in either case some information would be nice.... but don't hold your breath........

"The question I'm asking myself is will DL return to UKOG?"

My God!! Oil price collapse, CV-19 virus and now the possible return of DL!!! That really would crash the company...............

"That leaves possible restrictions by the OGA in light of the oil price & over production around the world."

The British Govt never issues instructions regarding production nor does it do deals with OPEC and I doubt telling a tiny onshore producer to reduce from say 400 to 200 bopd to affect the oil price is laughable. The Govt retains the right to give instructions in the national interest - I believe they came very close to doing so when the Russians started to monkey about with gas supplies but no formal notice was issued.

I'm sure they could have a quiet word with the big boys (BP, Shell, Exxon etc) if they had to - but UKOG???

Now that OGA have approved the FDP the main restrictions are those related to whatever was in the approved planning documents. The lack of any updates or hard information on the HH2z is a real worry - it reminds everyone of Broadford Bridge I'm afraid.

I think they COULD survive on 220 bopd - look at Egdon.

But Mark Abbott is only paid £ 206k a year and that includes pension & medical. He also got options but they're exercisable at 2-3 times the current price.

He also owns 3% of the company...........................

Thanks Stroller.......

from their Annual Accounts:-

Dunsfold, Surrey
Work on plans for a new gas site near Dunsfold had “temporarily ceased”, the accounts said. IGas had announced plans in July 2019. But a public consultation meeting in August 2019 was cancelled and not rearranged. The accounts said the Portland reservoir in the area was estimated at 5-10mmboe of recoverable gas. It said: “when energy prices improve we will seek to submit a planning application given the significant returns available

And that's from the experts at Gaffney Cline - who know about these things.................. full article at :-

https://www.gaffneycline.com/company/news/gaffneycline-energy-insights

We know the details of the restrictions on YA/Riverfort sales.

We know there is an "orderly market" provision in the Tellurian purchase but the details have never been published

" He's been bringing his average down"

I understand the general idea but averaging down only works if you expect the stock to rise again - with Onshore UK companies that's not the way a wise man bets :(

https://www.gaffneycline.com/company/news/gaffneycline-energy-insights

problem isn't oil price its lack of demand...........

Late/after hours trades - around 10million in 3 tardes..........

08-Apr-20 16:28:11 0.3566 563,000 Sell* 0.35 0.40 2,008 O
08-Apr-20 16:27:20 0.382 258,382 Buy* 0.35 0.40 987.02 O
08-Apr-20 16:22:57 0.384 7,812 Buy* 0.35 0.40 30.00 O
08-Apr-20 16:17:25 0.3561 2,000,000 Sell* 0.35 0.40 7,122 O
08-Apr-20 16:15:46 0.384 3,906 Buy* 0.35 0.40 15.00 O
08-Apr-20 16:06:10 0.3505 403 Sell* 0.35 0.40 1.41 O
08-Apr-20 16:05:19 0.365 711,371 Sell* 0.35 0.40 2,597 O
08-Apr-20 16:04:20 0.365 277,397 Buy* 0.30 0.40 1,012 O
08-Apr-20 16:03:54 0.35 1,368,607 Sell* 0.30 0.40 4,790 O
08-Apr-20 15:59:17 0.365 270,549 Buy* 0.30 0.40 987.50 O
08-Apr-20 15:58:57 0.365 50,000 Buy* 0.30 0.40 182.50 O
08-Apr-20 15:55:54 0.366 271,859 Buy* 0.30 0.40 995.00 O
08-Apr-20 15:55:31 0.36749 1,057,692 Buy* 0.30 0.40 3,887 O
08-Apr-20 15:54:18 0.366 54,112 Buy* 0.30 0.40 198.05 O
08-Apr-20 15:49:35 0.325 7,000,000 Sell* 0.30 0.40 22.75k O

"do with the HH2z Operational Update and then HH1 dual completion update "

I doubt we'll see the first for a week or two - the dual completion is some time further away and then the CPR beyond that even . Suspect we'll hang in around current range for several months, maybe drift up if the oil price increases and holds but real news won't be around for at least 2 months I think

"to be fair I agree with the stuff about the BoD, "

The BoD here are teh three wise monkeys - you never hear from them , they never appear.

The FD has been associated with Lenigas
The Chairman runs a US company (s) that has taken hundreds of thousands out of UKOG /HHDL in contracts for technical work
The NED is ex-Hurricane and has never said a word about UKOG in public as far as I know.
Only the FD has bought shares and that was 5 years ago