Member Info for Pecten11

Sandy you can produce some very good posts and I know from your history that you've had disagreements with AP in the past but what I'm struggling to get my head round is why you've become so uber positive recently?

Yes, at last BP is going to start producing some concentrate and eventually we will all find out whether the 'Aladdins Cave' will bring forth enough bounty for all - but when you get the likes of Daniel posting hings like 'once shipment and payment is complete at end Aug/ beginning Sept 2020.' you've got to admit the information stream from VAST is still too vague

How much volume? What products and when? What grades? What payment terms?

For the company to be taken more seriously, rather than a perpetual confetti machine, show 'investors' what the plan is - an upto date, officially accountable, presentation with production, cost, revenue and profit (!!) guidance would ge along way.
The longer they don't do something like that, the bigger the information vacumn and the more horse manure that wants to fill it

Baits, remind me who posted on the 29th June 'This AP tells porkies he just raised 1.500 million last week and said it would be paid from that,how does he sleep at nights.Full of **** that is what he is, I will never trust anything this guy says again.I would be very surprised if the institutions trust him again if he intends to ask them again'

I thought investing on AIM then moaning was a silly way to spend your cash

Goldm1ner, I'm not saying whether I consider these better or worse run companies than VAST, but here's five producing AIM companies with a lower mcap - I'm sure there would be others
BRD, WRES, EDL, ATM, SML

The key question,imo, is whether they are/will be profitable at topco level

I asked yesterday but nobody commented- would like to hear opinions

Could the AM shutdown actually allow time for whichever OWC that is causing the water cut, to stabilise, with the restart using the ESPs give some more key data and hopefully better control of the cut?
When the ESPs where turned on, the wells are likely to been in mixed flow (specifically 7z), could this be a new opportunity to maximise flow/ water cut

Going by Nic's ability to construct a coherent point of view, they would appear very, very different characters to me!

Geowiz - 'Shows CPRs are not often not worth the paper.'
Suggest an alternative then.

CPRs cannot be perfect, as they are based on the available information at the time (which the likes of PIs will mostly not be privy to), hence why subsequent analysis may vary as datasets/interpretations are enlarged/improved.
The 'who' that conducts them is always worth paying attention to imo

Nic, earlier you were suggesting that the reason why the actual OWC was higher than suggested by the drill logs etc, was because the matrix/formation was 'tight' - how does an aquifer 'cone' through a tight formation?

Nic, thanks for the replies -'Perched water does exist but is very uncommon in the oilfield' - fractured basement is very uncommon type of oilfield

Nic, 'put that perched water lunacy to bed.'

Is the lunacy you refer to, the idea of perched water in fractured basement generally, or just Hurricane's interpretation WoS?

Nic7760, from your original post -'
I've been following you guys for a very long time and let's just say I'm intimately familiar with the HUR story (although not an insider, only working from public info).'
How does that reconcile with -
'But here, since there is no matrix and big mud losses, it was difficult to tell. '

What bit of public info says 'it was difficult to tell '?

If its your opinion fine, the bb should welcome a new interpretation, if you have another source, please share it

Nic, interesting post, thanks for contributing

How does your theory reconcile with the RNSd OWC for the wells? Though the info was released by Hurricane, I cant see that Schlumberger would have been happy with publication of a result that they didn't largely agree with?

Could the AM shutdown actually allow time for whichever OWC that is causing the water cut to stabilise, with the restart using the ESPs give some more key data and hopefully control of the cut?

Sandy, be careful you don't fall off the high horse you're riding

You are entirely correct, wrt to drilling angles and testing of mineralisation where it is present - that is exactly what I said re the cores deemed worthy get sent for analysis, however, I was pointing out that the info in the RNS either could have been clearer with regards to drill hole depth-including those still awaiting results, or that large amounts of core hadnt been tested - which could imply a large quantity of overburden in future

Sandy, don't be disingenuous.
The cores normally get halved lengthwise, one half for testing, one for storage/records
The cores worthy of analysis get sent for assay, the ones where the ore content appears disappointing do not

Gbjoe, the paragraph re the drill holes is interesting, either the remaining holes have an average length of around 88 meters ( which would be massively longer than the other 15) or large amount of the cores havent been deemed worthy of being submitted to ALS for assay

Bartle, I see you've already bobbed back to the surface - you floater

So the committee are again indicating a much shallower OWC and the direct impact on reserves/results and ultimately valuation - however, they still suggest that continued production of 17000 bopd is likely - the key short term question therefore is there any effect to the run plan of the EPS?

'Following the previous announcement made on 24th July the Company can confirm that underground operations (operations - not stated as production yet) continue and the Company will provide further updates on production shortly. '

Swift, you were the one trying to propagate a point of view, not me, but when asked to justify that POV with evidence you didn't/ couldn't - not exactly a convincing way to win an argument

One thing I would agree with him on though - what used to be a good bb, that used to regularly have good debates (backed with evidence) has sadly deteriorated