Member Info for Mirasol

"Why would you employ someone for 4 years for oil and gas industry that isn’t going to happen?"

that actually WAS my point - they expect to need ongoing HSE support and it makes sense to employ someone for an initial 4 years (and probably extend when and if they want to). Several posters seemed to take it as a sign that FID is imminent - but any HSE issues were sorted ages ago. FID IS imminent - it's been clearly signposted and there is no real issues out there (other than in the minds of the insane - or derampers desperate to try and shave a few pence off the price so they can get back in.

The ad for the HSE vacancy has zero relevance to FID - no-one is going to hire someone this year and expect them to be up t speed on a project like Sealion in less than 12 months.

The HSE case will have already been dealt with by the UK authorities (acting as "advisors") in London & Aberdeen months if not years ago.

The job advertised is for FUTURE work - they clearly see it's worth while hiring someone if you know you're going to need them for 8+ years

The re have been cases in the past where the NSTA and it's previous incarnations have enforced joint & several liability against the co-venturers.

What no-one is sure about is what happens if there is only a single company and it goes bust (eg UKOG at Broadford Bridge) or all the companies go bust together.

Onshore I believe the land owner is responsible - but that's never been come to that so far to my knowledge.

You can expect a melt-down from the NFU, the Tory landed gentry etc if it ever happens - and a bright light perhaps directed into certain corners of AIM at last

It's tragic isn't it.

I'm accused of cherry picking for posting the officially recorded numbers provided by the Operator and using a standard metric for the averages.

I report them big or small - that's the whole point about data. You have to have it all to understand what is happening.

And at those pay rates I presume they didn't get many CV's sent in - it's not a great wage for the FI where the cost of living is actually quite high as everything is imported

That job was first posted several weeks ago...................

30 days is more accurate as it takes into account things like routine maintenance - which is often scheduled once a month or on bank holidays - UKOG for example used to do something once a month at Horse Hill - not sure what it was, maybe cleaning the rods or some-such, but it was very regular - and of course it knocked about a days production (3%) off the numbers.

Choosing your own metric - 11 days one time, 5 days the next 3 days another time-is just cherry picking to try and make things look better than they are. Like the old AIM flow rate scam "A thousand barrels a day at peak" = measured over 10 minutes before it dropped to 50 bopd

"AI says - Rockhopper Explor..."

Why would you sue AI when the company has put out a host of RNS's over the last couple of months ?

"It's all about cost and stability, Russia provided cheap gas to Europe for 80 years"

yeah and so did Saudi with oil - I wouldn't want them running our country even so

Not good - small buys no longer able to hold the 5p line

"Truth is we need Russian piped natural gas in Europe. "

Russian Stooge

We could reopen the UK N Sea to oil & gas exploration for a start. And change the ridiculous pricing formula for UK energy that rewards the highest cost, not the lowestcost, producer

Long article in the Economist about how most companies have yet to see any benefit from investing billions in AI

Also looks at what happens if it's another outbreak of "irrational exuberance" - could be a lot of empty data centres and very cheap large chips around...............

Far more likely they can't find someone willing to confirm they'll put up more cash to get them back to "going concern"

Read the crazy machinations at PPP on their chat board on LSE to see what sort of things happen in such cases.

Shirley not a leak???????/

"FAIK FIG have been giving out fishing licences in their territorial waters for years without issue. It's just another resource like oil. /shrug"

Correct - and Argentinean & boats based out of the FI have co-operated at sea. IIRC an Argentinian fishing boat helped one of Argos's vessels (they are mainly an fishing company not an oil company) years ago when it broke down off Antarctica. The weekly flight from Chile to the FI often used to stop in S Argentina to pickup/set down Argentinean sailors as well as families visiting Argentinean war graves in the FI.

Argentina HAS to keep reiterating its claim to the FI otherwise it starts to fall into history.

The English kept claiming France for 200 years after we lost Calais...... not that it made any difference. As long as they don't DO anything its best ignored.

Https://otp.tools.investis.com/clients/uk/rockhopperexploration2/rns/regulatory-story.aspx?cid=441&newsid=456504

Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with interests in the North Falkland Basin and the Mediterranean region, is pleased to provide the following update on its Falkland Islands assets.

Rockhopper and Premier Oil have agreed to adopt a phased, lower cost development solution for the Sea Lion field. Highlights of phased development concept:

· Initial phase to commercialise approximately 160 mmbbls oil

· Leased FPSO development concept targeting gross production plateau of 50,000 - 60,000 barrels oil per day

· Costs to first oil on the initial phase estimated at less than $2 billion

· Confirmation from Premier that a project of this size can be funded from existing facilities and cash flows and that a farm-out is no longer a pre-requisite to be able to sanction the project

· Continuing to target first oil in 2019 following sanction in H1 2016

In light of the move to a phased development, Rockhopper and Premier have agreed the following amendments to their commercial arrangements (subject to documentation and internal approvals):

· Rockhopper to access the full $48 million Exploration Carry for the 2015 drilling campaign

· Rockhopper to contribute 40% of pre sanction costs, currently estimated at $100 million gross

· Anticipated net cash outflow to Rockhopper for Falklands activities during 2015 remains in line with previous guidance at approximately US$ 50 - 70 million

· Rockhopper to retain $337 million Development Carry for the initial phase; a further $337 million Development Carry deferred to the next phase of development

· Existing Standby Finance arrangements to be simplified to a more traditional loan structure of up to $750 million from Premier. Rockhopper will continue to review alternative funding sources

· Rockhopper remains fully financed through a combination of Development Carry and simplified loan from Premier

· Revised commercial terms remain subject to documentation and respective board approvals

Further details of proposed phased Sea Lion development

The lower cost Initial Development Scheme is designed to target more than 50% of the resources contained within PL032 and is likely to focus those resources in the North East segment of the field. Subsequent phases of the development, which will require separate project sanction, will then target the remaining resources in PL032, the already discovered resources in PL004 and any potential additional resources discovered during the 2015 exploration campaign. Initial indications suggest that the concept is likely to consist of 10-15 wells in total. Production will be via an FPSO that is anticipated to be a leased facility and will target a gross production plateau of approximately 50,000 to 60,000 barrels per day in

In the Accounts Page 2 Rathlin mention a CPR they had done in 2024.

Was this ever published?

Of course the 30 day average trails the latest numbers right now. It still includes some v low days. But it works the other way as well and will stay high when they shut in for maintrnance.

30 day averages are commonly used by PE''s to smooth out single day lows and highs that are untypical of long term performance.

The CPR gives an annual number but thats over 60% higher than your 3 day number or my 30 day number. It's not collapsing as fast as it did earlier this yearbut its stll wayyyyyyy under the latest forecast they've published.

We all know its impossible to short small oilers.

Divi's ridiculous history of posts about his/her "trading" are really comic when you put them all one page. The inability to keep track suggests its Adrian "fool-on-the-Hill"