Member Info for Mirasol

They've also had to suspend trading............................

Mark Rollins, Non-Executive Chairman of Beacon Energy, commented:

"It has been an extremely challenging year for your Company. During the year and subsequent period, the Board has worked tirelessly to stabilise the Company's financial position and deliver on its strategy which is to pursue the acquisition of value enhancing opportunities to develop and grow a self-funding upstream oil & gas company.

The Board is presently in discussions on a range of opportunities that will enable realisation of this strategy. Of these, the Company has signed a non-binding Heads of Terms and has entered into a period of exclusivity with a third party in relation to the potential acquisition of an interest in an onshore gas development asset located in Europe (the "Transaction"). It is anticipated that binding documentation related to the Transaction will be agreed and an Admission Document published by the end September 2025. While there can be no guarantee that agreement on such a Transaction will be reached, we believe that we have identified a compelling, value accretive opportunity and will continue our efforts to deliver on behalf of our shareholders.

We thank shareholders for their continuing support and patience and look forward to providing updates on our progress as we move through the rest of the year."

"If anyone could ask at the AGM about any progress on the South Falkland Basin licences that would be great. For example Borders and Southern farmout efforts might be more likely to be successful if any farminee also could farm into RKH acreage somehow"

i can't see Sam hypothesizing about other people's acreage that isn't anywhere near his patch - especially not at an AGM

": Angus never disclosed the cost of the sidetrack. "

No and people like Zak Mir and Malcy never asked them either

But it took over 150 days and was originally planned to 40-45 IIRC. I suspect £ 11mm may have been on the low side at the end of the day

"Steady on, James."

looks like the mods acted swiftly - it sure crossed the line. Pity in a way - if they sued him they'd have to turn up in court and give evidence on oath.

That would an interesting day out.

"The Ocebot says "a small placing".... small? Raising £1.25 million at God only knows what sort of discount when the company's total market cap is £10 million would hardly rank as "small"."

Fairs fair - he made most of his income supporting UKOG and a 10% dilution or so really WAS small over there

"Beacon are very tight lipped I have emailed them twice now with no reply."

Why would a large US corporation answer an email from an uninvested person they don't know in a country that they don't operate in? Your email never got past the spam filter

"This is not a fortune and could have been raised via a small placing."

That of course is the nub & gist of the whole shambles - they clearly COULDN'T get anyone to put in more money - otherwise they'd have done it

Oh I'm sure some of us will come up with a price:-

UKOG price prediction 31/12/2019 (23.59pm)Today 09:52

Entry Now Closed Good Luck On Your Predictions Entries !!!)

Lonely_Shooter: 33p

TrollHunter2: 20.7p

Legalease: 20p

DavidWK: 13p

Free-Money: 11.73p

Vaghellis: 9.6p

SandyBugler: 8.86p

johnnybbad: 8.09p

Ontheotherhand: 8.04p

Tymers: 8p

Decommissioning?

AFAIK its not ring fenced in any way - the Operator is supposed to discuss it with the NSTA but there is no legal separate pot, nor any any first dibs on the any cash left (as HMRC have for example). The NSTA supposedly can "enforce" it but it's never been done and m'legal friends are looking with interest at people like UKOG & ANGS to se what happens. Apparently the land owner is on the hook if there are no JV partners but expect the NUF to go BALLISTIC if they try that on.

I believe that one of the reasons that Star continue is that the NSTA (or its predecessors) have refused a couple of attempsts to take them out as they have dozens of old wells to P&A and the newbies didn't have the "financial standing"

It wasn't the lender who interrupted the payment profile tho - it was ANGS and their inability to pay................ in their own words

So what HAVE they done OTM?

"Depends upon the nature of the information being communicated."

that what I said anything correct will be in an RNS; anything can be in a Tweet

You can confirm a tweet with an RNS - but if they don't - buyer beware..

We can't argue with a lunatic, folks. Lets just ignore him and leave him gibbering in the corner.

I despair.

These people make Adrian aka Fool on the Hill look like a Nobel Prize winner.

But they HAVE defaulted OTM - they haven't paid on the day they were supposed to .

Can you not read??

"Production variability during the first quarter of 2025, before the booster compressor was commissioned, has resulted inthe first principal repayment of £1.25 million, being deferred"

Cambridge Dictionary

https://dictionary.cambridge.org › dictionary › english

to fail to do something, such as pay a debt, that you legally have to do. default on People who default on their mortgage repayments may have their home ...

Default (finance)

Wikipedia

https://en.wikipedia.org › wiki › Default_(finance)

In finance, default is failure to meet the legal obligations (or conditions) of a loan, [

Investopedia

https://www.investopedia.com › Bonds › Fixed Income

Default is the failure to make required interest or principal repayments on debt. Individuals, businesses, and countries can default on debt obligations.

"In the case of Aren't Trafigura also to be involved in the talks with the deal, making this a longer time to go through until final agreements are reached"

I doubt it - the deal is being driven by Trafigura for their own reasons - they'll prepare all the paperwork, the terms etc and give them to Tidswell who will say "Thank you, sir" and then get off the floor, bowing his way backwards though the door.

Mr Herbert seems to have had a bit more backbone and quit rather than take a leading role in the forthcoming comedy.

And din't they re-enter the wrong well at Brockham IIRC? Golden days!!!

Lie in an RNS and it's the high jump from the FCA for the Directors AND the Nomads

Stuff on twitter etc is much harder to chase. SO if news only appears on Twitter you know how to value it