Member Info for Mirasol

"Nice indication on the timescale in which these can be put together as well. They only put their request in at the end of the year. I always assumed it would take much longer."

Not quite the same as the hoped for UKOG CPR - D&M do a CPR every year for Igas so a lot of it is cut and paste. Plus they are mainly fields in long term production so the changes are relatively simple. For UKOG you are looking at aereservoir (the Portland) with only two penetrations, and the Kimm which is extremely complex and for which there is very little known at all.

Igas have published a new CPR with a lot of detail on their operations onshore...

https://www.igasplc.com/investors/publications-and-reports

https://www.igasplc.com/investors/publications-and-reports

lots of info on their fields in this

Yeah - Adrian has his issues but I think he reports what he sees - not always correct on the interpretation but without him and the other eyes we'd know absolutely nothing

I see we've slipped off the bottom of the 3 month chart at close - it only goes down to 0.6 p...... :(

Always nice to see some new, exited posters

I see we have HughGo, HH1, Jamie C, Love Music & Bullish on today......................

But we seem to have lost a number of old friends..................

"Mirasol : I shall be attending."

Excellent - always good to get news from an actual attendee

" 9th in list Solo Oil 162m shares, 13th Tellurian 132m, 22nd Europa Oil 26m"

Solo and tellurian were bought out of HHDl/HH for cash and shares

Europa got shares when they sold some of their interest in one of the other licences.............

Maybe its time for Lucan to announce "while we wait for planning approval we have decided to rent the site to the Travelling Community . There is a terrible shortage of good pitches for these poor people in the area..."

Anyone planning on going?

I presume we'll get an RNS on Wed a/m...............

Someone on UJO says his new alter ego there - Ponkey - has already been banned.............

How the mighty have fallen - only ONE post on here over the whole weekend

I think everyone really has given up..............................

"With every tanker taken from site our recoverable oil in place is reduced. Is it any wonder that the SP reacts?"

Dear God............. each tanker takes out around 220 barrels of oil - the last CPR stated recoverable resources were in the range 0.59 - 3.63 MILLION barrels = 2681 - 16500 tanker loads. That's what oil companies do - they convert oil in the ground to tanker loads and then to $$$$$$$$$$

"mratroll" !!

well Steptoes - sorry Ponkey - you've just blown your cover...........

as UKOGMultiBags - turned up ramping on UKOG board this morning spewing threats and insults at all "trolls"

Expect him back on here DE-ramping again - probably under a different name ... but you'll all recognise the inimitable style......

"Perhaps you should read the RNS rather than the FDP guidance"

Yeah IBug - one is issued by UKOG and the other by the OGA - the Regulatory Authority who actually issue the Permit.................. your choice..........

"FDP is only for the wells drilled."

Section 3.1 clearly envisages drilling future wells as part of the FDP - note "proposed wells"

3.1 Preferred Development Plan, Reserves and Production Profiles
This section should describe the proposed reservoir development and indicate the drilling
programme, well locations, expected reservoir sweep and any provision for a better-than-expected
geological outcome. Proposed well locations should be shown on both the maps and cross sections
referred to in Section 2.2.

to be clear it's a FIELD Development Plan not a well approval......................

"Is the production licence for HH1 a formality at this stage? When will it likely be granted?"

Dotty - no it is not a formality - but the biggest issue is always planning permission - which is now in place. There are hoops to go through most of which are technical to convince the OGA that you understand the field and that your assumptions are reasonable - hence all the studies, reservoir modelling etc. This is normally AFAIK a dialogue that runs for months before the FDP is submitted - probably since before they started the EWT in 2018. It is almost unheard of for an FDP not to be granted eventually - the OGA have an interested in encouraging production - but it has to be technically sound.

I suspect that the discovery of a separate pressure regime and water at the toe of HH2z has required a revamp of the original draft document. Once this is submitted it seems to take 2-3 months to collect all the ticks in boxes.

The Approved FDP will cover all future wells currently envisioned. If you want to add or change it later its not a big issue. The question is will the OGA sign off both the Kimmeridge and the Portland or just the Portland at this stage.

Without a positive update this week sentiment will be very very negative...............