Member Info for Mirasol

almost certainly restricted to the costs of the Appeal - they don't have any income from Wressle before and they still don't

And even if they'd been stopped in full flow loss of profit costs are always difficult to get

"its only planning approval"

The single biggest obstacle to anyone making money onshore UK that's all.............

Egdon have planning permission awarded for Wressle and the Council will have to pay some costs. That should sober up a few grandstanding Councillors across the UK

"One Tanker,there used to be two a day"

The average was one a day - we only saw 2 on a Monday as there were rarely tankers on Saturday and none are allowed on Sunday - I think we once had 3 but that was after a Bank Holiday weekend

"Yep, at least someone has done some proper research and decided to invest some proper money while they can grab them at this absolute bargain price."

And someone else thought the outlook is so good they'd +3 million sell at 0.7893 .......... even though it is "an absolute bargain"? and another 2 mm gone through after 10:00

Adrian and his mates perform a useful service - at least we know what's happening at the gates most days.

He's clashed with a few people on here & on Twitter over the years but there is no need to get personal

Its a trade - someone bought someone sold the BUY flag means nothing

Look like the same outfit that have been shovelling shares in on a regular basis since the start of the year (especially at the day's close) but the trade price seems to be climbing slightly this morning and we're back to a 6.67% spread - I think Egdon are on a 20% spread this am

"But they would be able to make a better business model "

I'm intrigued. What would that be? Go offshore? Go into another country (see Europa...)? Buy more onshore UK assets? And where does the cash come form for these new ventures?

Or perhaps try and sell off part of HH to another oil company... haven't seen many lining up to buy Tellurians stake or to put Angus out of their misery......

"Sanderson needs to take a back seat and employ someone who can perform better......"

Can you elaborate on what the new guy will be able to do that SS isn't doing?

Will he be able to know where the water is before drilling? We he be able to conjure up a work-over rig out of nowhere?? Will he be able to fix the planners???

"why would potentially a super major giving EGDON a free ride on the rested of the work that needs to be done..."

because of certainty - the cost of the farm-in will be loose change to a SM or a Major and they get to lock up the acreage. If they wait and EDR have to relinquish it may be a couple of years before OGA offer the acreage again and you're then in a competitive bidding situation. You'll probably pay at least the same and maybe more than you would have done if you farm in now.

at his rate it'l take weeks before they get back to where we were pre announcement of the water 008...............

"I would expect an update on what they are planning and lead times by now, even if it was just by way of Twitter"

UKOG don't use Twitter very mush and I can't think of single Tweet that wasn't AFTER a relevant RNS - they seem to be very careful to avoid the "lenigas Route" of getting info out..... frustrating I know but it's very much by the book......

PCS is correct - things take time - especially onshore ULK where the years long history of low activity means there is very little kit available- same with people. IIRC there may only be one work-over rig active (or at least recently used) in the UK. Or they may be waiting on manufacturing some special gubbins to help with the shutoff of the water.................. right now all we can do is wait

Is it correct their were only 5 trades yesterday?

"I then emailed the company with a copy of my holdings and the questions I wanted answering, they duly answered them"

You've answered your own question I think - email them and wait for a response - tho getting any response from UKOG has always proved to be a bit tough IIRC

"Does anyone know if it is HH1 cleanup or HH-2z cleanup?"

using a crane so almost certainly HH-1 - the crane can only take so much weight it will be very hard to get anything meaningful done in the horizontal section at HH-2z.

I'd guess they are inserting a dual completion to be able to produce from both the kimm and portland together from the 1 well . They have probably been planning it for a while, it's an easy shot to up production and they can do it while they wait for the kit to tackle the water in the end of 2z.

You may own some of he company but it is a very very very small amount I'll bet percentage -wise. If you invest in Shell or Rolls Royce or Google do you expect regular ops updates? Of course not

Normally quoted companies only worry about those who have over 2% of the stock in my experience

"As no updates have been provided I have to assume all is going to plan"

Not an assumption to work on - remember Broadford Bridge.

In general we expect far too much in the way of updates - they have a job to do and keeping PI's up to date every day isn't part of it . No other industry issues ops updates regularly (or at all). One of the bad points (from a UKOG view) about Onshore O&G is that people can sit outside the gates and report on their every move - it's a lot harder to do on Hurricane's West of Shetland operation.

In general they will report back when they've finished - that way they can't be accused of "misleading the market" if something goes wrong after their initial report.

"Waste tankers were in early yesterday"

Given the weather I'd bet some of the were removing surface water - It's another dreadful morning in S E England weather wise

You're right IBUG - finger trouble - apologies - like everyone else I'd appreciate some words from HHDL about their missing 1z well

A while back someone mentioned waxing as a common problem onshore UK - maybe they just need to give them a clean?

The RNS suggest they are planning to flow both Portland and Kimm together - that would require a bit of fiddling around and probably a slightly different completion - they could almost certainly do that with the crane tho'.