Member Info for Mirasol

Suggests that the formation isn't flowing naturally - which is not unknown. Horse Hill has to pump if you remember.

Also might explain the Nitrogen - an attempt to get it to flow naturally.

As I've said the lack of any definitive shift (either way) in the price may mean that they results aren't as clear as yet

One thing we all know is that any serious news on AIM is leaked to family & mates and then the "fiance professionals" before it gets to the stock holders.

generally they are quite good at covering their tracks but there are always people who are too late, too stupid and maybe to unimportant who wade in anyway.

Right now I can't see any pattern at all to the price or trades - since there MUST be some news out there it suggests to me it's neither one thing nor another

maybe some piece of kit has failed, maybe the results aren't definitive.... but clearly there is no DEFINITE conclusions yet.....

I agree - Pboo and FOTH do a good job even if we have a difference or two

I know I'm happier with my UKOG shares where they are shipping a steady 200 barrels a day than with the situation at Angus which is starting to worry a few people..... .hopefully they are wrong but there's a sense of unease over there...

http://www.bdf.co.uk/mineral_exploration.php

Rig 41 is a work-over rig according to BDF - not an exploration rig .............

that was me - not a ramper or de-ramperr -

I stick with the BdF 28 from West Newton - note no-one has made any other suggestions ........ except maybe buying a rig from the USA......

AFAIK the Bdf rig at W newton is the only one that is viable for the Horse Hill programmeI've posted before about the economic constraints on UK rig providers - the BDF28 was cold stacked until it drilled recently for Egdon and rumour was that it wasn't a good experience.Sure you can buy a rig in the USA - then you have to ship it, import it, get it checked out for a UK Safety Case etc and then crew it ........ that's why no-one ever does it. We'll be waiting on W Newton ................

No - because the most likely rig is stuck in Yorkshire for the next 7 weeks...

I suspect he has the day job to do.... and he tries to keep away from forecasting and concentrates on spreading light on the technical aspects to those who don't understand the implications of some of the statements made by the company.

I'd be VERY surprised if he is directly involved with Angus - that would lay him open to all sorts of unpleasantness if it ever came out

Many thanks - so just the test pipework to reroute........ simple enough I guess. Probably do it when the well is shut-in for pressure measurements

It's a reasonable question friend.....

Not very important as they can probably build a second cellar in a week or so

Don't understand why a reasonable point on rig arrival (which fits the known facts) has upset you so much...............

I don't think HHDL got anything like 750 barrels a day long term from the kimmeridge on their current test - that was a short term blast - much like the rates quoted on here for Balcombe and Brockham

In fact HHDL were making around 342 bopd sustained daily rate according t their RNS of 15th November

I'm confused - if those "insiders" bought 40 million shares why is the price under 4p? It was 5.6p a week ago........

Surely a buy on this scale would have moved the price back up - unless other "true insiders" know it's a dud and are selling......

AIM - a voyage into the unknown..............

https://www.ogauthority.co.uk/licensing-consents/onshore-licences/ is descriptivehttps://www.ogauthority.co.uk/data-centre/data-downloads-and-publications/licence-data/ lists them The terms are normally related to the Round in which they were awarded IIRCIn general the OGA is co-operative with people who play along - but they can cut up rough if they think anyone is trying it on......Angus? They have to show they have fixed the water first - IF that is fixed the price will come back but I suspect it will also require success at balcombe to get this over 20p. Look at UKOG - 200 barrels a day and wallowing in the penny share range..................

Years ago Oil companies used to own rigs and seismic crews - but they realized it was totally non-core and the capital investment in a big , offshore rig, was enormous. Unless you can guarantee to keep them working all the time it's a mugs game - and eve n someone like BP might have a spare rig alright - but it's in Australia and needs to be towed to the N Sea........

So they hire them in as and when needed - you might, if you are big enough, take them on a multi-well contract in an area like the N Sea, but no way will you own one.

the cost is of course a running cost, just like petrol, helicopters, drill fluid etc etc chargeable against income

Note the production PLATFORMS offshore are normally owned by the oil companies - they are fixed assets with a known life

Piranha

there are various sorts of permissions

The OGA have to approve a Company as Licence Operator - that is normally do they have the right staff to run things

they also have to approve any Production Licence - which is authority to produce from a specific field on a regular basis for 5-20 years. This requires a full technical plan, evidence of cash resources AND planning permission - it can take a few months but once the PP is in place it can be very rapid. Normally someone like UKOG are already talking to the OGA to get their ducks in line so when they submit a formal Application (with PP) it is already been looked over and it is almost a formality.

Planning permission is always the pacing item onshore

Alba have no authorities as they operate nothing - they're just a partner (and in Horse Hill they are only a shareholder in HHDL - the OGA won't recognize them as any different to you or I)

HHDL are recognized as a Licence Operator as are UKOG but they have no Field Development permits as they don't run a "Producing Field" in OGA-speak

Angus have both Licence Approvals and Production approvals

As said I doubt Alba will sell - certainly not out of HH - they have nothing else but that weird lead pencil resource in N Greenland for heavens sake........

UKOG/HHDL often run two tankers on Friday before a Bank Holiday weekend as they can't run one on Monday as it's a Bank Holiday and they rarely run one on Saturday - so they're running down the on-site inventory so they have storage space to continue producing at 200 barrel a day - nothing new,......

Probably two on Tuesday as well than back to one a day

"Can't believe there's such a shortage of rigs or is it the men to man them that's the problem"

I think there are only a couple of rigs normally in the UK that can drill to any depth. You realize that in the 5 years 2014-208 only 17 well were drilled according to the OGA/DoD?

That works out as 3 wells a year - or 1.5 per rig - since even a long well can be drilled in 60 days that's 90 days employment a year for FIVE years for a rig.... so they aren't in use or earning cash for 75% of the year.

it isn't really an attractive business to either own a rig or to be employed there (in fact you'll be laid off most of the time). I heard most of the guys go off to work in N Africa or Middle East and the rig are stored in a yard somewhere. That's also why the rigs are OLD - I think the BDF28 is ?30?years old at least - which also has an obvious knock-on effect on reliability, capability, competency etc etc

If the oil companies could drill back to back wells for a couple of years no doubt someone would bring in a new (-ish) modern rig from the USA or Canada but while you have under-capitalized companies and the uncertainties of the UK planning system it's all make do and mend TBH.

can someone explain exactly HOW Steve Sanderson is able to "to hold the price down"?

UKOG is one of the most heavily traded shares in the UK - just below BP... He appears to won very few shares, it would be illegal to deal in them if he di right now and UKOG are criticised for not putting out daily RNS's

The answer is clearly there is NO manipulation - just a lot of people buying and selling on small movements in the share price... not risking a lot either way - a few thousand quid at a time maybe

This last week has been very disappointing - I think we all thought the new BoD had turned a corner and learnt from the past but we finish up in much the same place as we were at Christmas.

We're now hoping we can get back to 6p.... and last week people were ramping it up to over 10p...

Very very depressing and lets pray the water has been dealt with otherwise we'll be down all the way to the bottom....

To be pedantic there are several "Kimmeridges"

Kimmeridge Bay - a place
Kimmeridgian - a period of Geological history that contains shale, limestone, claystone and even sand in some places
Kimmeridge Limestone - what everyone is excited about

The Kimmerdige also changes - it's different offshore N Norway compared to Dorset and may have been deposited in a very different way so oil in the Kimmeridge at Horse Hill doesn't mean its everywhere - in fact in the N Sea its the source rock for much of the oil found - but I don't think anyone has ever found or produced any serious amount from the Kimmeridgian itself

I'm sure UKOG & Angus know exactly what they are looking at but beware anyone else IMHO