Member Info for nhawan

If it drops to anywhere in the 2.1p region I will be buying but I think it will be incredibly difficult to buy judging from today's performance. Once Kimmeridge starts to flow and tankers are seen then the sp won't be going down for sure. A tanker has already been spotted and more to come this week imo.

The table at the bottom of the RNS has been updated for HH.

- Portland EWT completed successfully, KL3 & KL4 EWT to commence, 2 further appraisal wells scheduled for Q4 2018/Q1 2019

I assume the 2 additional wells will be sidetracks to prepare for production.

The mm's drop the spread to 2.15p/2.2p but it's still not possible to buy below 2.21p . Make up your minds.

sp seems to be consolidating. Perhaps it's time to get in .

Have they fitted a pump yet or is this a free flowing test?

Whoever paid 2.25p for 600 shares needs to complain to their broker. They got ripped off since you can buy near 1m shares for 2.21p.

I think you'll find that the actual closing price was around 2.19p. The UT of 2.39p is hardly indicative of tomorrow's opening price so don't get your hopes up.

We're down because SS under delivered after all the hyped the Portland flow rates. They indicated 415bopd+ with the first pump and went for a bigger pump to get a higher flow rate. The big pump turned out to have a negative impact with a lower 362bopd. It is still commercial but SS's hype appears to have put a downer on everything as usual.

can already get in lower ;)

but hold off for now.

The 362bopd is actually less than what most expected so not sure this will hold the rise. The bigger pump made no difference at all and actually dropped the flow rate by the looks of it. The disclaimers in the RNS don't instill much confidence either. Possibly could close lower than the open imo.

Managed to sell at 2.66p. The resistance at 2.7p is too strong for now. The Kimmeridge tests will be the decider and when the ii's may start taking positions.

The MCAP would be around £1B of the sp was 20p. Not likely any company would pay more than that even if the Kimmeridge was commercial and had 1B barrels of oil. We can only dream though.

If that did happen then expect the sp to be sub 1.5p after a few months of no Portland news. SS was quick to release Portland rates before the pump change but nothing has come since. The new pump appeared to only pump at 2.5 strokes per min and there were 2 tankers after 2 days which is around 215 bopd. Needs to be double that to push the sp up.

There are some things which keep bugging me about the Portland test. The bigger pump test appeared to have been fixed at 2.5 strokes per min but I was expecting some variable testing to ascertain max rates , etc. And 2 tankers over 2 days is only around 215bopd AFAIK.
We need Portland results soon declaring decent commercial rates otherwise it could be a case of SS hoping the Kimmeridge will save his reputation or whatever's left of it.

Even Lenigas doesn't know what it is? It definitely looks like a Casing Elevator.

So we should take any random unsourced comment as fact?

At least post the link to go with it :\

Should be an interesting close today especially if people anticipate a Friday RNS to get the weekend papers going. Best not to trade right now.

Seems to be quite a few buys of that size today. Possibly one buyer taking a position in smaller chunks rather than putting one big order in.

Its 42m BUYS vs 16m SELLS at the moment yet we aren't seeing upwards movement. Maybe an order being filled or unreported sellers still providing a balance.

http://apps.blackgoldpump.com/ProdCalculator.html

Here's a pump calculator I found. If only we knew the pump stroke value.
From the calculator, the pump stroke needs to be over 350 to get 400+ bopd at 2.5 strokes per min.