Member Info for Mirasol

Obvious - they don't want to risk the good part so the well while there is a chance of water from the toe-end. SO they're waiting on kit I guess. Probably need a small work over rig as you can't run wire-line in a horizontal section.

why majors aren't interested in the UK Onshore....... all done in less than 5 years....................

"05 Jan 2020
ExxonMobil on December 20 announced that oil production has started from the Liza field offshore Guyana ahead of schedule and less than five years after the first discovery of hydrocarbons, which is well ahead of the industry average for deepwater developments.
• Production for Liza Phase 1 to reach full capacity of 120,000 barrels of oil per day in the coming months
• Liza Phase 1 is the first of multiple offshore projects planned in the Stabroek Block
Production from the first phase of the Liza field, located in the Stabroek Block, is expected to reach full capacity of 120,000 barrels of oil per day in coming months, and the first cargo is set to be sold within several weeks.
The concept design for the Liza Phase 1 development project features the Liza Destiny floating, production, storage and offloading (FPSO) vessel moored 190 kms offshore Guyana, and four subsea drill centers supporting 17 wells."

"I think I read somewhere that shut in's are used for calculations regarding water ingress. I could be wrong but it would also make sense"

Long shut-ins are used to observe the pressure behavior - oil, water or gas. The pressure starts to build back up towards its original value and by plotting the results you can calculate the volume of the oil (approximately) that is connected to the well bore. You can sometimes identify the approximate distance of any barrier or baffle (but not its direction) from the well.

The problem I understand is that due to the mathematics the time axis of the graph is log based so each division is 1 sec, then 10, 100, 1000...... so you have to let the pressure build up for as long as you can. That might only be a day or so offshore or maybe a week or more onshore -. The longer the better but the ops & finance guys are doing their nut as the bills pile up and the Reservoir Engineers are pleading for just a few hours/days/weeks more.

"It's on shore not offshore which = quids in .. Its UK not some far flung political nightmare country with corrupt regimes...
It's not in some good forsaken frozen wilderness half the year."

No it's onshore UK where no company has bought in in years - all the money raised goes to outfits running offshore ops out of Aberdeen - its a country where newts and swampies are more important than the law and business and every local authority and govt dept will do their damndest to thwart you. Its no frozen wilderness but its full of NIMBY's who drive big cars and take holidays in the sun but don't want anything near them..............

Do you mean right now? I'm sure they do but they have to put money aside to pay for all the planning and civils on the other sites, they need to drill extra wells at HH (at £ 2-3 mm each ) and pay off YA. SS knows cash is king and he'll hang onto every cent. The stock price isn't going to rise on its own - we have to have more production first rather than embark on crazy bets on our own stock.......................

Whats he going to buy the shares with zoom? they're currently almost certainly spending as much as they are taking in when they are producing so there is no current surplus. He needs the production money to continue development at HH and pay for Dunsfold & the IoW exploration - with luck he'll also be able to move away from YA type financing in the next year

This is from another forum, nothing to do with investment, by a NZ poster who lays out why he doesn't care what people write:-

"it's all about the owners and advertisers. Along with many other forums, ABCDCo. is the company that own this one. I advertise with a similar company in a completely different market but we have the same basic key performance indicators. As long as the subject matter is appropriate to our advertising spend then all I'm interested in is visibility. I don't want my advertising associated with pornography, political bias, religious fervour or illegal drugs. I don't care if people are rude to each other, play the man rather than the ball or say things they wouldn't in a hotel lobby. These attitudes make for a lively website with high throughput which achieves my aims and that of the owners - and in most cases, is self-policing. On the two specialist forums I advertise on, there are no 'moderators' instead there are professional editors who write editorials to stimulate discussion and they also deal with verboten subject matter. They certainly are not expected to be censors or outraged by personal criticism.

I've always suspected that UKOG knew a lot more about Brockham than us shareholders - and that's why they steered well clear............................... they may have traded all the data for a start - it would have made a lot of sense and is not unusual

"But we 'know'that there's 30m barrels, or more, of Portland oil in place. We reasonably 'expect' recovery of 10m barrels or more."

Agreed - those are reasonable estimates and may well underestimate ULTIMATE recovery - generally speaking estimates made when a field starts up are too low- they learn more as production goes on, the technology improves, costs are cut and the initial sunk cost becomes unimportant and you only have to cover OPEX

"Simple tip for all genuine investors who may be concerned when they see this kind of rubbish posted. It's very easy to review a poster's history by clicking on their name. "

Steptoes - started 27th December 2019 - 70 plus posts only post on UKOG. Only posts ultra positive posts and rubbishes everyone else.

By their deeds shall you know them

possibly Double faced crook under a different name

"I don't see the revised HRA from Anguish Energy on the WSCC portal. Maybe they forgot to put a postage stamp on it?"

Not sure if they put the documents up until the meeting is scheduled - as we don't know what the issues are from the EA we just have to sit in the dark I guess

last year they cancelled a load IIRC - not as bad as Surrey but still no great advert for democracy................

They aren't - apparently the EA brought up some issues and they are waiting for Angus to respond. As the Committee normally only meets every couple of months in practice that's a wait until March I'm afraid.

See posts a couple of days ago

I think SS looked at the situation and decided that HH was the only game in town in the short/medium term. Europa were unable to do anything at Holmwood, UKOG were being blocked at Markwells Wood, they'd screwed up at B Bridge and he was wise enough to steer well clear of JTP and his merry men at Balcombe and Brockham.

Absolutely no point in getting into fraccing in the NW or Midlands

So get as much as possible of HH and make it work - ease out the weaker brethren who have no cash (Solo etc) and the mates of DL as far as possible. Close out Magellan/Tellurian who had shown they wanted out of the UK full stop.

Full control of your own destiny as far as it's possible

"my average is 0.97, be happy to take my money and move it elsewhere at this point"

That's my problem - not only do we have 300mm++ shares in Tellurian's hands plus the YA share conversion we also have a load of people who either bought in at the bottom and will show a really good profit if it goes to 1.1 or those (like me) who were hoping my 1.15 average would reach 3-5 p over time but right now would happily get out at anything above my average TBH

It has to be something very spectacular to move this share very far in the medium term- the overhang is so big - I'd say we're probably waiting on Dunsfold or the IoW - which will most likely be end 2020 early 2021

To move the price???

Looking back it looks like the most shares moved in a day was end June 2018 when approx 480 million went through - that pushed the price up around 0.5p. With over 7 Bn shares out there, many in the hands of people who got in under 1p we're going to need a pretty large amount of shares moving to shift the price above 2p IMHO.

Done - it's really important to get a majority in favour in these cases.

" I'm seriously worried bout the hole mind set surrounding E&P decision making in government...."

No UK Govt has had a viable energy policy for about 50 years - they try and ignore it. Offshore is OK as it runs itself and is a useful source of emergency taxation - onshore is just a pain in the a*** for the politicians and the Civil Service- it takes up time and money for very little national or political benefit.

I suspect the OGA has a couple of people who look after the Onshore part-time - they never publish any statements about it for example.

This decision isn't important to anyone who is important - shareholders just have no stroke here

My last two posts were from the Investors Chronicle article link posted by Daltry - that's the Industry magazine. Also read it and see what they say about NOMADS and MM's................ it's not my views but theirs and I think they know the AIM market a lot better than anyone on here.

I keep saying it - the "unremittingly negative posters" were right on price and the optimists were wrong. Thats a fact and not an opinion

I'm in this game to make money - although I believe (hope/pray) I will eventually make money on UKOG I have to say over the last 24 months I'd have been a lot better listening to the "derampers" than the "rampers"

The Financial Times ran an article in 2015 called ‘Aim – 20 years of a few winners and many losers’, and found that in the first 20 years of Aim 72 per cent of all companies ever to have listed decreased in value. It was estimated that in more than 30 per cent of cases shareholders lost over 95 per cent of their investment.