Member Info for Mirasol

"Did they hold off on the shipment of the 2nd compressor UNTIL they completed the horizontal section,"

Why would they do that? they couldn't cancel the order at this stage without paying a fortune in legal costs etc

Better to get it out of the factory and on site before Christmas - then its available whatever the well results

following completion of the Transaction the Board intends to seek cancellation of the Company's securities from admission to trading on AIM ("Cancellation"). Cancellation would be conditional upon the consent of not less than 75 per cent. of votes cast by the Company's shareholders given in general meeting. . Following Cancellation, it would be the Directors intention to liquidate the Company and distribute the Consideration Shares proportionately to Argos' shareholders on the register at the relevant time."

Pretty clear - the shares are canceleed and youget some Canadian shares in their place - https://www.jhiassociates.com/ - do not seem to be quoted so you will own stock in a private company . there will be no market in the ormal sense in these.

You can hold on and hope they strike it rich - at that point they would either float the company , probably in Canada, and you'd get a stock you can trade in Canada OR they sell out to a major and the cash is distributed to share holders.

If you are a long term Argos holder it practically makes no difference - you've bought a ticket in the lottery - its now a Canadian one not a UK one. You've waited 12 years for something to happen , you might as well hang on and pray.

If you trade the stock you are stuffed

"I have just been given some free money."

thats compared to the sort of money she earns for ramping the stock of course

Apologies it is onshore

that's offshore dear boy and along way from UKOG's area.

Its like comparing HH with Forties Field

"Flow rate is down to 1151 but no one in here posted that I wonder why."

because as we've said - taking a single day - or even a single weeks production is worthless as a guide to long term reservoir performance. They're drilling on site, the weather is cold - all sorts of reasons for small blips. Things may have to be shut down or dialled down while they move something or install things. It's operations.

If the site had one guy on security and had been running for a year or so you might want to know why it had dropped but right now? Pointless

and gas storage - if they'd backed the Portland Project and others in 2008..................

"It's great news for Argos and the Falkland...imho"

"GREAT news for Argos" is stretching it but I guess the alternative was loss of the licences and the company folding - once Navitas came on board for Sea Lion FIG can see a light at the end of the tunnel and don't have to keep renewing licences for the real minnows

If JHI farm the acreage then we lose another percentage of any eventual find but then we don't pay anything either

"When did our country go so wrong ?"

12 years of Tory Govt?

"I’m not a big fan of their managements approach to spending shareholders money on some Geoscientists wet dream "

But no engineer or accountant ever says "drill here" - its the G&G guys who come up with the ideas, the plays and work up the prospects.

Engineers are good at calculating something to 7 places of decimals but they have no imagination whatsoever

Another friend of David Lenigas I believe

", sadly not anyone with any financial muscle, "

I think JHI have some substantial backing - they aren't an Operator like Navitas but they did get into offshore Guyana and farmed the acreage very successfully .

they certainly have better contacts and more financial firepower than Argos who always struggled financially.

Its sad but inevitable - Argos were never properly capitalised to explore anywhere TBH. It was fine when they had someone to carry them but once Noble dropped out the writing was on the wall.

JHI also aren't a real Operator, I don't think they've ever drilled a well themselves, but they do have good financial backing and they will have contacts that Argos don't. No doubt they will farm the block to a bigger outfit.

"A few years back Vonk did a lot of damage to the Angus image."

And people remember that Jonathon Tidswell-Pretorius, who was in charge of Ops when they re-entered the wrong well, is still puling down a salary at ANGS.

"it's been a difficult year for junior stocks according to George Frangeskides of Alba "

Ah yes - Gorgeous George has been running a lifestyle company for even longer than SS - they've never achieved a single thing

That's Corporation Tax (ring fenced) + Supplementary Charge + Energy Profits Levy

"Don't forget the EPL is only payable on extraordinary profits not on all profits"

The Govt reckon ALL oil and gas profits are "extraordinary" - the November statement made absolutely no distinction - they will be taxed on all profits at the new rates

"• The Energy Profits Levy, which currently places a 25% charge on these profits, ensures oil and gas producers pay their fair share. This is in addition to the permanent 40% tax rate paid by oil and gas producers, taking the combined headline tax rate for the sector to 65%."

https://www.gov.uk/government/publications/autumn-statement-2022-energy-taxes-factsheet/energy-taxes-factsheet

hey - all those small oilers with useless onshore acreage NEED onshore storage as as story to raise money

Bacton is the Terminal for OFFSHORE gas from the S North Sea

The Solent plans are based on imported gas - either way UKOG doesn't ave a spare Bn quid to participate in either

"The same group on here have been doing this to anyone that raises positive topics for years. N"

perhaps because the SP is down 99%?