The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Gell, market still not convinced. I'm hoping that in 10 months time we have 2 horizontals successfully drilled and tested and going into 24/7 production, 2 cprs containing independent data on recovery rates and decline, full planning for 6 wells with Next 4 to be drilled back to back plus progress on IOW. I'm in no hurry in here. Then we will see how the market values ukog. GL.
5-7 days to airfreight door to door tops as long as paperwork is in place and gets thru customs. A good logistics company will have all paperwork filled in well in advance. Other spanner in works could be crate size vs available space on aircraft.
SS different class? Comparing to Angs is pointless. Question from me is has SS learned anything from BB? He ramped it to the hilt with comparisons to HH, pouring oil, new flagship asset, piped up for production. All far to premature and this is beyond question. He got greedy at BB, drill became overcomplicated and fell under the weight of trying to test too many zones with basic equipment. I sense that he is being more grounded in his communications now. I like the clarity of his business plan over next two years. I like how he does business with council et al. No guarantees here, well walls can collapse, they might hit water, but the potential is huge. GL.
Why would SS contemplate selling a proven asset in order to fund unproven prospects? Ukog's share of oil sales from 6 horizontal wells should generate cash quicker than they can spend it on new drills given the time taken to get the relevant permissions to drill, ewt and permissions for full time production.
I try not to ramp (excessively) but the 3500bpd max is a product of one of two things. It's either what hhdl think HH will max out at given the timing of new wells coming on line vs decline in earlier wells. Or it's a number that keeps the proposal under an EA threshold meaning less hoops to jump through for this application. Did hhdl have enough data to accurately predict decline rates last Autumn when the scoping report was submitted? I'm not sure. Anyways, boring Jan/Feb nearly finished, lots of news to look forward to. God I hope it's good. GL.
£12.5m raised in the run up to HH testing. Say £4m to drill each if the horizontals, it's in the balance for me that ukog will need to raise in 2019 for early 2020 drills. Factor in that ukog only need to fund half of HH activities and say oil revenues are much bigger than anticipated then the need to raise reduces? Will SS borrow against the Portland Cpr? It is just my opinion but I think that SS might raise later this year, either as a contingency or because rising price and volumes( hopefully) may easily get an opportunistic placing away.
The 362 figure from the Portland is a calculated figure that would require further optimization of the well. See rns 10 sept under 'Additional EWT information'. I assume that this further optimization ( more Perfs, different tubing or pump??) has not been completed hence the 200bpd.
Re-confirmation of future flow rates, re-confirmation of spring spud, re-confirmation of flow test in parallel with drilling. The guts of $2m oil sales to the group. I'm happy with that. How will the sp react? F knows. GL.