Member Info for Mirasol

Appeal - so a years delay................... fall in SP of ocurse

But they can probably keep producing 200 barrels a day ...............

Oiler

The rig is almost certainly delayed (on a retainer probably) until after the planning Committee

The Kimmeridge has been chugging away since Easter at a steady rate - very similar to the Portland - and sending out a tanker a day (circa 220 barrels) - again collecting information without scaring the horses on the Council.

The Kimmeridge was shut in because they were producing the Portland . It is possible , but risky and expensive, to produce both at once but this is a WELL TEST and they have taken the logical and safe route.

As for W Newton - there was post yesterday about AIM oil companies that bears keeping in mind - they all start with a zillion barrels but as time goes by............. I' remember Avington about 18 years ago............ another VAST discovery.. then there's Balcombe and Brockham.......................

Given the Planning meeting is so close and the recommendation is to go ahead I can't see them bringing the rig on until after the meeting

It would look terrible if a whole mob of swampies turned up,,, plus you have all the extra truck movements and the sudden reappearance of the rig mast as a visual intrusion.

Far far better to just keep chugging away , all calm until AFTER they get PP.................. a few weeks now is nothing when you're looking at a 20 year production plan going forward

they also use the crane when they're pulling gauges or fixing the down-hole assembly - but it may well be rig related - nice clear 5 day week coming up , students drifting back to college, kids back in school, getting cooler out in those ghastly tents near the gate.............

YL - I think the answer is in the words " This process will involve removing excess water that was found there before"- which is not quite how it has been portrayed by either the Company or people like DHC that it is a nailed guarantee that open it and it will flow lots of oil.

They clearly have a water problem (again) and we know how that turned out at Brockham................................

PCS wrote:_"I saw on Twitter that campaigners have a camp or something by HH"

Drove past it a few months back on my way to Gatwick - its some ghastly tents opposite the Black Horse pub on the A217 about half a mile south of the site (which is on Horse Hill Road). Looked like about 3-4 swampies sitting in the mud. Honestly - it looks as if the Plague could break out there any moment... how the Council allow them to stay there in such conditions is beyond me.......

From the Balcombe Meeting on the 28th......................... note "removing excess water"........ reminds mne of another couple of Angus operations that went well... NOT

https://balcombeparishcouncil.com/2019/08/29/angus-energy-at-lower-stumble/
Angus Energy at Lower Stumble
Posted on August 29, 2019 by balcombe1
Last night (28 August) the Angus Energy Community Liaison Group met to receive information from the oil company about their future plans for Lower Stumble. In the next few weeks the company are planning to submit a planning application to West Sussex County Council to carry out an extended well test for a period of two/three years. This process will involve removing excess water that was found there before, and then, theoretically, pumping oil out and assessing the field’s commercial viability. Balcombe Parish Council will be closely reviewing the application when it comes in and will keep residents informed at each stage.

Rig (BDF28) last reported back at their yard in Nottingham being serviced

Pretty clear that UKOG are waiting, or are having to wait, for the finalisation of the Tellurian deal before starting drilling. There is no other work for the rig currently but listening to Sanderson it sounds as if they have a contract in place

Zoom said"Magellan and its parent company would not agree to the rig being paid out of their income in HHDL, when they would see no benefit as they would be gone. Further it would need a break in income from oil sales to establish clearly what was theirs and what was not."

No - any agreement on purchase of interests will clearly state a date and time that it is effective for valuation. This is normally fairly close to the date of completion eg 1st Sept 2019 but tit can be backdated to say 1st Jan 2019 if they want . It might be for tax reasons or all sorts of corporate reasons - the buyer than makes a suitable adjustment to the actual cash/shares paid over to the seller to reflect transactions since the Effective Date.

Oil companies employ a lot of smart accountants - its not a corner shop operation. And for things like production figures, income and costs they are nailed down every day

Delays are probably due to getting all the legal stuff produced and signed off by corporate lawyers in the UK and the USA..............

JimmyRustler - You can spot them a mile off - newbie, a few posts and "might plump for another million this morning"

Missed off IMHO, train leaving station, another BLUE day today, I wouldn't wan to be out of this on a Wednesday etc etc etc.................

Maybe we could run a sweep to see which of the serial rampers we think this is.............

Removing the top 5 (GKB47, Scsiborg, DavidWK, Trollhunter2, TB1412) and the bottom 5 (Oiler87, Doubleheadedcrook, Seadoc, Pennydealer, Bigten4) you get

min 0.85p (Gregorio)
max 9.2p (God2behere)

Average of over 145 punters = 2.872 - Andyparkins is closest to average

Looking at the price forecasts for end Nov on here the

min 0.1p (Bigten4)
max 23p (GBK47)

Average of over 150 punters 3.232 -Roganjt is closest to average

JayKay "On shore UK? Check..., Portland? Check..."

Actually partly wrong as most of the Wytch Farm reservoir is under water - either Poole Harbour or offshre...

And it's in Triassic rocks not the Portland

Horse Hill was deepened to over 8000 ft to test the Triassic play but it was dry - there is no viable Traissic play in the Weald currently

Maybe no-one wants to buy from peddlers of dodgy goods... until something firm happens that is signed off by The Archbishop of Canterbury, the Fragrant Debbie McGee and Sir David Attenborough.................

Petercraigscot - Tellurian aren't in trouble - they are raising Billions for their US operation - admittedly they may not succeed and they are spending cash like a blind man but Total (who are no-one's fools) have already kicked in several hundred million dollars already this year

"Entered into definitive agreements with subsidiaries of Total S.A. (Total) for a $500 million equity investment in Driftwood Holdings LP, and related purchase of liquefied natural gas (LNG). These agreements are filed with Tellurian’s second quarter 10-Q filing. Along with Total’s previously announced agreement to purchase approximately $200 million of Tellurian common stock, Total’s aggregate investment in the Tellurian portfolio will be approximately $907 million at final investment decision (FID) for Driftwood.
Continue to advance negotiations for the sale of LNG and interests in Driftwood Holdings with several counterparties.
Secured $75 million term loan for general corporate purposes."

Industry experts like Gaffney Cline Assoc. think their LNG plan is one of a very small number that is viable and likely to succeed in the USA

they are getting out of Horse Hill because it's just totally insignificant and they have to spend money on lawyers and SEC submissions about it - I think they're talking over $25 BILLION US for their US plans

Pboo "There will be tankers tomorrow."

Sorry - the restriction on movements includes Public Holidays... nothing until Tuesday

Also the Hamble unloading facility appears to only open normal hours - so unlikely to be available today either

"You've got to love a bloke having a fag at an oil production facility.
Is the Kimmeridge flowing so well that there's no capacity in the tanks to wait until Tuesday?"

he's clearly OUTSIDE the site standing on the roadside........ :)
But a tanker on a Saturday is very interesting, and very uncommon IIRC - they can ship until 12:00 I think

No-one has reported a new pump or a faster pump rate so it looks to me as if they're trying to minimise the number of movements on Tuesday... perhaps because the rig, or something rather large (like the big crane) is due in

Wondered when the first would arrive with their 2 posts to date and multiple entries................

Welcome Four Figure!

He's got 3 days of wild posting before he gets banned - it happens every weekend these days...........................

"End of last year SS said production would start around end of summer not drilling."

I think he said Planning permission for Production would be end of summer - but those bozos on the Council keep kicking it down the road..............

Problem is they can't bring heavy loads or any loads in or out from lunchtime on Saturday until Tuesday morning - unless they get special permission from the Council

they might not want to ask for it in case it affects the current Planning Application - my bet is late next week.............