Member Info for Mirasol

"Unless they have an ulterior motive, that is."

Lets face it nothing on here has any effect on the share price - the long decline in UKOG's price is due to 2 factors - the continuous flow of new shares and the long wait for good news from the well with a CPR. All the rest is just noise

Recently we've been hit by falling oil prices and the virus - but so has everyone else.

There is no evidence of "shorting" or of MM manipulation

Ramper & de rampers have absolutely no effect - except to get up each other's noses............

It is possible but when you look at pre-drill estimates and post drill estimates they tend to be smaller - however the chances of a discovery are around 35% historically - and that translates to about 20-25% chance of a COMMERCIAL discovery

Once fields are on production a lot of fields INCREASE in size with time -after they are on production. The Reservoir Engineers are far more cautious than the geologists (BLUE SKY! TO INFINITY & BEYOND!!) and take a conservative view/guess. AS time goes on the fields are better understood, the technology advances and the marginal cost per barrel is really just the operating costs as the sunk capital costs have been recovered/written off years ago.

TH2 wrote "The IoW Arreton fields are reported to be at least four times greater than Horse Hill," - I'm sure you realise that is only an informed estimate - until they drill and test it no-one knows.........................

Good move to get that Planning application in now - nothing will happen, the swampies can't gather, everyone has different priorities (no-one has mention "Climate Emergency" in a week or two) - and it starts the clock ticking. It's now the Council's problem and not UKOG's.

10 years of higher tax.........

They never were - most people are on PAYE

the Tories only talk about the Self -employed at election time or when they want your cash

I think that we're back to large Government and high taxes for the next 10 years at least. Once they taste the power of running everyone's lives in detail they won't go back - it'll be like Macmillan again

Thanks Tony - right now I'm still (just about) employed...........

Thanks Ocelot - I doubt oil will get back to $150 short of a war on Saudi soil

my point was that if oil goes to $ 150 tax on oil will go to $130 -all this Govt cash for the virus has to be paid by someone eventually......

"Its ridiculous how everyone else is getting some form of help other then SE."

The problem is that neither the Civil Service nor the politicians are self employed these days so the problems of the SE just don't cross their minds. Eventually there's a fuss and they come out with something - I'm sure they will here as well - but they always think in terms of PAYE.

They have said we can defer the mid year staged tax payment to year end (NB NOT reduced - just deferred)

I'd suspect the closure of the Black Horse will also have a detrimental effect on the eyes!

I wouldn't want to be in a swampie camp right now tho'.................... plague city...........

"Is freight still flying?"

Yes a number of airlines are continuing to fly passenger planes empty of people but withe holds full of freight - for example I think Emirates still fly to/from New York & LHR. Freight companies like Atlas and DHL are like your supermarket delivery service - they're apparently hiring as fast as they can.

", imo I can see world oil prices going up to and above $150 a barrel. All world Governments will need to be able to have a
means of recouping all of these billions of Dollars of easing"

If Oil goes to $150 a barrel the production tax will go to $ 130

"It's now all caught up with them. They really are screwed. There will also be some financial headaches"

That's a real problem medium term - investors won't want to come anywhere near O&G companies - they'll remember they lost their shirts but forget it was on unconventionals not conventionals

"do we have guys still working of has the lockdown affected us on site."

I'd be very surprised if they had closed ops on the site - there are Health & Safety reasons why it has to manned right now as well

"Maybe ukog have a temporary permit for tankers to come at night"

No such beast - they'd need a variation on the Planning Permit - that has never been applied for and it would get the neighbours as well as the swampies all fired up

They stick very carefully to the permits - which is why the planners and the council are more friendly to them than they are to Angus.

"Ha, ha, ha what does it matter about a few people lurking in bushes,?"

My guess is that originally they were considered a real nuisance - oil companies generally don't like snoopers. The there was the period when Fool was invited on site - - they were seen as a useful conduit to supporters

Now I suspect they're just part of the scenery - as long as they stay out of people's hair they're doing little harm and save the company from putting out RNS's on a regular basis

"Will they be working at night to stop the eyes from seeing what they are doing?""

Its the oil business - they normally work 24/7 365 days a year. Time is money - when you have a rig maybe costing £ 20,000 a day (or £ 600,000 offshore) you can't afford to hang about waiting for office hours.

The only reason not to is if there is some especially tricky piece of work that requires daylight - often something to do with the greater site where you want everyone to be able to see what is happening at all times - otherwise it's done under lights. I don't think they take any notice of the eyes at all

"We need to know the total running costs of the company before anyone can truly answer that question"

Actually that's not quite correct - right now they are still testing and fiddling withe completions etc so they have people on site (PW Well Test etc) who will not be there for a production operation. It may well be that the production site is unmanned (or 1 man per 12 hr shift) as opposed to probably 10 guys there every day now. The office can also be trimmed down if necessary. A lot of onshore Uk operation sites are unmanned except when the truck turns up to load up.

"Afternoon all, does anyone feel that UKOG will not be able to survive with low oil prices and possibly even lower in the near future."

As a fully paid up "Masked Troll", "convicted de-ramper" and "nay-saying pessimist" I think they will survive. UK onshore companies have survived through several oil price collapses etc on 100 bopd (Egdon are a classic example). Egdon /UJO reckon Wressle makes money at £17 a bbl (say $20) and they haven't got half the kit already on site that UKOG have at HH (ie already sunk costs). At say $30 a bbl they should be good for years at 220 bopd. They may have to trim costs a bit (and the BoD) but going bust is the least of my worries TBH

"Mirasol You haven't got a 'IMHO'"

Since I post on here you can presume it's my opinion unless I quote someone - people use "IMHO" in the hope it will save them from being sued - which it won't of course. I normally try and avoid it

I also don't do "GLA" etc etc

Bit worried that Fool was ****ging me off on Twitter apparently - no-one will know what he's on about (unless they are on LSE) as I don't do Twitter.......... Still he does a great job even if he does get a bit wound up now & then....