Member Info for Mirasol

HH1 still speak to whitefaces in Siouxan I see - How!

https://www.pxpenergy.com.ph/

seem a straightforward enough set of Philippine business folk............

Can I ask what is the point of the last 3 posts repeating old RNS's that we've all read?

"When and if ukog manage to buy the other parties out of horse hill Could they then buy HHDL (i don't think so)"

They'd have bought HHDL at that point - they could close it down as an entity and roll everything into UKOG but they'll probably keep it as a subsid. - the oil business likes to keep assets in individual companies .

The non UKOG Director will almost certainly resign the moment his company no longer holds any shares in HHDL

"The reason I’m watching tanker movements closely at this time is because lots of water will need to be tankered off site when the HH-2z fix is underway."

As a fully ordained "masked troll" I feel I can ask why would there be a lot of water Woodie? It's in the formation and maybe they flow it a bit while they run the PLT - maybe a couple of hundred barrels = 1 tanker full. Then they put in the fix - and if it works then no more water. In fact the tanker full of produced water may have been one of several that left the site last week.

The critical tanker count is more tankers per day heading to Hamble - unless and until we see a regular 14 or more a week it will be hard to believe we're doing better.

it should be but there are no guarantees in any oil field operation - I reckoned it would be 2 week operations so if it has gone well maybe an RNS on Mon or Tuesday

My post of 25th Feb.

Looks like the issue is NOT a JOA problem but an internal HHDL one.

The Joint Venture is now between HHDL ( a company owned by UKOG Alba & Dor) and the ex-Tellurian interest owned by UKOG.

The JV bills both parties and of course they pay up do there is no default under the JOA.

The problem is inside HHDL - when UKOG ask for the money Alba aren't coughing it all up - they are then diluted, within HHDL, at a Base Rate of a couple of percent a year........... It is actually their share of HHDL that is falling (and consequently the beneficial interest in HH. SO they're getting a very cheap ride.......

I assume SS isn't too happy about it but it does incentivise him to remove the dross from HHDL sooner rather than later I guess

everything from 0.50 to 0.599 trade price over the last hour............

"Idespair - I know what I saw - it clearly stated down 22% - it has corrected now but it definitely showed this..."

So did I......

"I wouldn't want to be out of thi sover the weekend"

"The train is leaving the station..."

"BOOM"

" Lovely high quality black gold"

Sanderson was pilloried for the "updates" he did on Broadford Bridge - and rightly so. Since then they've been a lot less common - and there is no point in saying "we think we've fixed it" - they have to be absolutely sure.

"I think there is a strong chance of a midday rns, the last one was 12:30, I expect that’s around the time SS gets his daily
update."

Doubt it as the eyes report the CT unit was working overnight - suspect they're checking the plug and maybe logging-= no RNS before Monday

As for updates drilling operations are normally updated with an email report around 07:00 (as there is almost always a shift change at 06:00) with the Daily Report - and a morning meeting/call in at 08:00 or 09:00 depending on the Company

How long it takes to write and RNS and then getting it through ops, legal & the Nomads is another matter..........

"Its time to buy."
No problem - there's the 1mm share seller waiting with open arms - 3 mm already this morning....................

"Mirasol posted a fair bit of the rules and it isn't in therr"

It is well known that OGA won 't allow you to state "we're running this EWT at rate X to make money" - if , on the other hand, you can make a good technical case for the information you will glean at production rate X then hey may allow it. This applies just as much to HUR as HHDL. If they think you are taking the p*** they will reduce the limits on what you can produce.

AS HH is one of the few bright lights in their onshore universe, and because SS spends a lot of money on science and doing things properly he's had a pretty easy ride.

This is madness.

The oil sales are , in reality cash in. It doesn't really matter where you put it in the accounts that cash can be used to offset current and past costs and thus reduce the costs going forward. Double the income form sales and you double the amount you reduce or offset.

Income cannot be a negative cost

"For those who 'believe' in share codes it is supposed to mean RNS inbound."

not one of those hoary old share code stories again ...... like believing in lizards, black helicopters and that Joey has a brain.............

"The reason for this is that current oil production is only allowed to cover EWT costs under OGA rules."

https://www.ogauthority.co.uk/media/5476/oga_extended_well_test_guidance.pdf

Under the model clauses of a licence, the consent of the OGA is required to undertake extended well tests - extended periods of test production from exploration or appraisal wells prior to development plan authorisation. It should be noted that EWTs are not an alternative to production under a consented Field Development Plan; the Exploration Operator (or Field Operator if one has been appointed) needs to demonstrate to the OGA that the primary objective of the EWT is to
obtain essential field information to improve technical understanding or confidence in the performance of the field to progress towards a development, and to demonstrate that the EWT would not be prejudicial to ultimate recovery. There is, however, no obligation to proceed with a development following an EWT if the EWT demonstrates there is no MERUK opportunity. The OGA notes the issue of an EWT Consent does not of itself constitute the development and production
consent required for a licence to enter its final (usually third) term.

"Yes, we go quiet, do you have an issue with that"

None whatsoever rogan - I've always been a great supporter of the eyes - check my previous posts.

We're very lucky to have people who are not only willing to go to some serious discomfort to watch the site but also to post their results for all to see. It's not something I fancy - too soft I'm afraid - but I wish we had the same for every onshore O&G share I've invested in over the years

Keep up the good work!

"s it just me or the do the eyes aroudn the site always go quiet just before big news? No photo posts this morning from them."

Its 3C and sleeting there this morning - I reckon they're tucked up in bed and very wise too................

Brave man!

But the 1 mm trader seems to slow down once we fall towards 0.60 - they're happy to keep trading it seems which screws any PI driven enthusiasm but stops it plummeting I guess