Member Info for nhawan

As we see more tankers the rises will start to become regular. I would not rule out another repetition of last years rise, especially if Portland is declared commercial at over 400 bopd.

The pics were posted 4 hours ago so it's two tankers so far. Would be amazing if more are seen over the weekend though.

Looks like any fears of the perforation gun damaging the well have been abated with the tanker sighting. The oil is flowing again and in bigger quantities by the looks of it.

Looking very good indeed.

Well he has his eyes on the site and knows things before most on here. Maybe some tanker photos will be posted over the weekend. The on site tanks may well be filling up right now.

There is no big seller. I couldn't buy any decent amount of shares last week without going to NT. If there were lots of shares to sell then it wouldn't be a problem to buy a large number of shares through a live quote.

The trend is creeping upwards. Should break past 2p soon.

The pump is back on and puming out the completion fluids. Once the gas flasre is back on we can be assured the oil is flowing again. Should see a tanker by end of the week imo.

I was expecting a rise purely due to the new pump being in action. The new deal is a bonus.
Should be hitting 2.5p when a tanker is sighted.

They have tried dropping it but 1.7p appears to be strong support. I think once the pump is back in action the sp will move past 2p pretty quickly.

I replied to someone else. I'm not a LTH ;)

I think the time taken to fit the bigger pump caused the drip but the sp has bounced off 1.7p again and the sell volume was pretty low. It took a while to fill my buy order which indicates that there aren't any big sellers in the background like for example YA.

Expecting a rise into close since there is anticipation the pump will be back in action soon.

Some large buys going through. Possible reversal coming up. I'm in.

What annoys me is that the could have commence extended testing of the Portland and determined commerciality by now. But instead they decided to go for a bigger pump and perforating more of the well. They could have done all this after getting it to commercial status.

It says it further down from the paragraph you stated.

"As maximum initial rates were restricted by the pump's capacity of around 470 bopd, a larger capacity pump has been sourced and has been mobilised to site for possible use during the remainder of the Portland test sequence."

Not sure why they would use 'possible' though. You don't get a new pump on site and not use it. Would be a waste of money.

err. they have to fit the pump and test it first. Any declaration of commerciality is at least 2-3 weeks away imo.

I'd believe it if any of Mr008's predictions were ever proved correct ;)

The truth is that the bottom is unpredictable and will only go lower the longer there is silence. Why have they not tested the Portland for longer than 7 hours at any time? It suggests to me that the pressure drops off after a prolonged period hence why they may be perforating more the zone before the next set of tests.

It's still risky hence why some may be derisking. Remember that the perforated BB a number of times and it still went pear shaped.

People are cautious because the Portland has not been declared commercial just yet. The critical test is to flow it for an extended period at commercial rates. If it succeeds then it will massively derisk the company but if it fails then the fallout would be disastrous for the sp.

daaannngg!!. That drop on ANGS looks painful.

The extended part of the Portland will take at least 2-3 weeks hence the slow drip of the sp. Whilst the last RNS looks positive the fact is that the flow has only been tested for up to 8 hours. Will the well keep flowing at a commercial rate for 1 week or longer is the big question. The risk is still quite high until the well is declared commercial.