Member Info for NGR1616

What. Do. You. Do. With. The. Gas???????!!!!!

this is the danger of listening to people who can't even interpret basic information and spin it off as the opposite.

Hull FC said :
"2. Previously the Company announced that it anticipated the well gauge pressure would reach the bubble point by the end of Q1 2022. While uncertainty remains, analysis of the most recent trends indicates that this point is now anticipated between late December 2021 and mid February 2022...... EXETENDED THE TIME FRAME "

Clearly this is not extending the time frame, it's a reduction. Instead of 31st March 2022 its now as early as next month or latest mid February 2022.

At this point there will be a potential increase in production as the gas will drive the fluids upwards as it expands however unless they plan to pump it away down 7z they can;t flare it off. And 7z has no gas reinjection systems. So it's check. Not check mate, but check.

I literally need to give up as nothing makes sense to me anymore! Goodbye and good luck, clearly there's no logic involved only belief.

listen to wellsite and ignore the BoD I say!

easyp.....what you going to do with all that gas? Water you can clean up and overboard. Gas needs processed on the FPSO for offload via a pipeline or flared off and neither are an option here.

Bobat123 I'm here telling people who don't understand or reservoir dynamics or unwilling to understand wtf is going to happen, as warned by the BoD themselves. I was invested here since 2014 and I appreciate that buying in at 0.7p and seeing where the SP is now makes some people get excited about making large sums of money, but equally, in fact not equally, there's a higher chance of them losing large sums of money. The laws of physics don't care what Senseman or anyone else says.

The BHP is dropping. The gas will come out of solution as the pressure continues to drop and water but is rising and there's nothing the company can do about it unless they set aside funds to deal with it but how and more importantly, what's the point.....it'll only delay the inevitable.

They already advised you in a previous RNS what happens when the well reaches bubble point.

RNS 29th September " along with the risk that gas liberated from the reservoir could be produced which could result in production either being reduced or ceased altogether."

This company is a one trick pony and it isn't even under their control. It's the price of oil.

Which medication are you lot on? Prescription or from the street? The bottom hole pressure, i.e. the pressure of the reservoir is decreasing. The well is reaching 'bubble point' sooner than anticipated. This means that gas comes out of solution. The gas Oil ration increases significantly and you can end up stranding the oil you have left. There's no fix other than increasing the BHP which unless I'm mistaken is not easily achievable in this particular scenario. This is the reason a Water Injector was mooted some time ago.

You have no flaring consent and no gas offtake. The production will either cease or need to be choked back significantly into limp mode.

And then there's the water cut. 35% in October avg. 37% as of 14th November.

It really doesn't need a rocket scientist to figure this out. Hence the money being potentially requested set aside for P&A. And you don;t have the net free cash to re[ay the bonds. And the [not yet signed] extension FPSO contract is clearly contingent on paying up front.

If people think this is a good RNS then they should not be investing. This is why I said sell at 0.7p. I didnlt think you;d get past the court nor did I anticipate the oil price rising so far so quickly but my advice was based on the reservoir fundamentals. I thought they may have sufficient cash to perhaps redevelop or farm into some other play or do some M&A and become a non-op partner but it seems those chances are diminishing as quickly as the reservoir.

We’ll see who’s right long term.

Senseman-you are a dangerous individual.

*at the end of the day!

with a wife and two girls at private school, I'd yank your hand off if you offered me having £4.60 left the day Baznick!

Volume now nearly 10 x avg. Mostly in even quantity blocks i.e. 50,000 rather than someone deciding to drop £10,000 in and see how many shares they get as I often do. So either a new buyer or an existing one adding. Either way all positive.

I can retire comfortably on £4.60. Not per day, per share :-)

This could be something or mothing. Whatever it is there's a technical foundation now as all the indicators are currently positive i.e. the daily MA100 and MA200, RSI etc so it could be as much about that as it is about any impending developments.

Morganna1 showing again that it's better to deflect from, rather than confront reality whilst ignoring that I already accepted that the court case was a surprising outcome and that I hadn't anticipated the price of oil to rise as it has taking away some of the financial pressures on HUR.

So in my example you cut and paste, people who started with £100k would now only have lost £80k. It's hardly a win now is it?

Senseless .....so what you are suggesting is that PFC unwittingly allowed the data they gave to the BoD that they got from Bluewater to be manipulated by the BoD before it's passed onto ERCE and when they see the resulting CPR , PFC haven't challenged the data on which it was interpreted on? Sound plausible. I take it all back. Those crooks!

You are a clown.

23.90p at 09:40 with a volume of 460k versus an average daily volume of 282k. I've had worse Mondays.

I'm sure Petrofac, who have just had to raise $275 million in order to pay off a bribery case to the Serious Fraud Office, and their employees (who get paid if HUR goes bust or doesn't) are happy to commit another act of fraud by being complicit in underestimating production data in order to massage your tiny fantasies.

Anyone suggesting that the original CPR (which was a 'snapshot' with the limited available data), is less reliable than the most recent one with years worth of production data needs to accept that they are one of the worlds' problem people and equally likely to believe that we didn't land on the moon, the earth is the only flat planet in the solar system and that the vaccine gives you chips.

I'm sure Petrofac, who have just had to raise $275 million in order to pay off a bribery case to the Serious Fraud Office, and their employees (who get paid if HUR goes bust or doesn't) are happy to commit another act of fraud by being complicit in underestimating production data in order to massage your tiny fantasies.

Anyone suggesting that the original CPR (which was a 'snap shot' with the limited available data), is less reliable than the most recent one with years worth of production data needs to accept that they are one of the worlds' problem people and equally likely to believe that we didn't land on the moon, the earth is the only flat planet in the solar system and that the vaccine gives you chips.