Member Info for Mirasol

About 10 day since spud so probably at the intermediate casing point.

The've a lot of coring going forward which is a bit slower than drilling
Sending out 4 tankers makes me wonder if they've changed out the mud system to Oil Based Mud (OBM)

They used at h on HH1 successfully but used water base at BBridge

Be useful if the eyes took some shots of the sammaller service outfits coming and going - once that core is out it'll be crazy there

"How will they manage?????"

An Atrium
A fountain
Double the staff
Sponsor some sport event close to the heart of the CEO

you'd be surprised..........................................

explorationists HATE paying dividends - they've always got another Pot of Gold to search for somewhere else..............

Look at Rockhopper

Hard to comment when only 4 people have seen the presentation - its still not on the website..............

did someone say there were only 4 investors there? Or did I misread it??

And are they going to put the presentation on the website??

Thanks

"The Kimmeridge Flow rate after shut in restarted at up to 473 bopd. (RNS 30th Sept 2019).

After the previous shut in when Kimmeridge Reservoir flow was restarted, the flow rate was "up to 332 bopd" (RNS 1st Aug 2019).

The Kimmeridge Flow Rate has increased over 42%."

Argos - almost certainly flush production having been shut in for a few days - but encouraging they can turn this on and off and not cause problems

God knows what the mob at Angus would do if they were in charge

Increased involvement of JTP is a very worrying sign for LTH of this shambolic share

Torreaguas

The Abandonment isn't a "deposit" - the procedure is that when Angus apply to take over operatorship the OGA will ask them how much they estimate and how will they carry out eventual abandonment. Angus will provide the info and the OGA will run it through their experts (some of whom may well have already worked on Saltfleetby). They will to and fro until the OGA is happy.

At that point they will ask how will Angus ensure the cash is there on the day its needed. Now if its BP saying "don't worry - we're good for a few million in 2, 10, 20 years" it;s OK. If you are a small outfit producer 20 barrels a day the answer is going to be different,

If they go down the escrow road Angus will open (or their lawyers will do so) an account and the agreed sum will be paid into a bank account. The money still belongs to Angus and can be counted on the balance sheet as an asset but NOT as working capital as the money can only be used for abandonment with the OGA;s approval

As Alan says the company's track record DOES matter - Govt departments have very long memories and people who cause them trouble eventually pay for it.............. they're just like the rest of us but have longer memories

how anyone can believe an Angus RNS after the last 12 months is totally beyond me

2"how many super ramped up posts did Alan2017 post on the Angus bulletin board since then, not to mention on #angs, oh and also on #ukog etc etc."

and tell us double faced who kept posting "1500 bbls a day minimum guaranteed IMHO from Brockham?"

Look in the mirror

still a large overhang from the last raise.........

Torreaguas - you are wilfully missing the point

It doesn't matter what Angus say - the decision on Abandonment liability rests with the OGA

They will decide how much is needed and how it will be provided and if it needs to be ring-fenced

Given the run around and bother Angus have caused to the OGA in the past don't expect much mercy...

The OGA will want cast iron guarantees on the abandonment cash = generally they take a companies word but they have in the past insisted on legally y binding arrangements for dodgy outfits - including I believe escrow and personal guarantees by the Directors.........

W"n RNS costs a lot of money to issue. A Twitter update will more than suffice and it's free"

It doesn;t cost that much but they have to send the info out to EVERYONE at once - twitter doesn't count in AIM speak

Can we stop this useless, childish bickering..............................................

he said, I said, he said I said ... has nothing to do with the price nor the (distant) prospects of recovering our investment

US say they'll open the taps on their Strategic reserves

A higher oil price - say +US$ 10 a barrel - is a small help to HHDL/UKOG - another $ 2000 a day - pay for a test engineer anyway..........

Long term implications? Strengthens the case for diversity of supply

Don't get too excited - the same Bloomberg report says that the cut back was precautionary and they expect to be back at 80% production within 48 hours

The BBC reckon the two plants handle 1% and 7% of world oil supplies

The US is currently is lowing down oil production and an ramp up pretty fast.....

"Personally, I’ve always been concerned by operators quoting ‘barrels of oil equivalent’, when reporting test rates, because a
barrel of oil is generally worth so much more than an oil equivalent barrel of gas - especially relevant when dealing with high GORs"

EOGL - the relative pricing is always a bit of a suck it and see. Traditionally the rule of thumb was always 6:1 - ie a barrel of oil was worth 6 times 1 Mcf (million cu ft) of gas. On the ground this obviously varied depending on tariffs, quality etc etc but it held for a long time.

there was an interesting discussion last month on the Gaffney Cline weekly update site about how this was becoming less and less so. http://gaffney-cline-focus.com/august-16-2019

",anothet day when SP will start and end at the same price"

the level of intelligence of some posters on here never ceases to amaze me...................

They can't simply ramp up production overnight
Firstly they probably need a bigger pump , then they need more storage and this is still legally a TEST
Road tankers are easy - probably a couple of days notice is all that's needed - plus they need to tell the refinery of course

The OGA haven't (yet) signed off production and I understand that "officially" you are not supposed to profit from a well test - its purely for scientific information........ don't ask me why.................