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Guys,
If you make a 100k profit from share dealing on HL say how do you pay taxes on it or can you fully withdraw the profits to your bank account and pay taxes later on it through your normal self assessement? So basically you must be honest and HL dont follow up with HMRC?
shaa, definitely. How long do you expect until we see 4-6p?
When the drill eventually takes place and oil prices are above 50 we should see a massive increase and with the publicity too we'll be in a great place. I have such high hopes for this investment.
Very odd....I know they have issued more shares etc but surely if you double the Market Cap the price should be a lot higher than .40p
Hi guys,
Am I right in saying that our Market Cap is now 28 million?? It was only 13 million last week. That is a bloody good sign is it not?
Hi guys,
Very happy at todays RNS and hopefully this sees us on our way to 1/2p short term and we should see 4/6p long term?
With regards to your question on rig mobilisation, I have listened to AM mention they had contracted a new build rig sitting in a fabrication yard which could be mobilised at short notice. This is definitely the case however that was some time ago and that rig may be on hire elsewhere now and so the situation changes. OPL 226 is in shallow water, i.e 40-70m water depth and so drilling it done with a jack up rig. Jack up rigs are abundant and many are laid up across the globe with no contracts. Older ones need certification and fit for purpose surveys on the cost of the operator (Essar). But they are a lot cheaper now and day rates are really a lot lower hence why BPC for example were able to contract Stena for their Bahamas Perseverance well. Stena are one of the best in the business too.
Arthur Millholland is a seasoned veteran and I would say the rig selection are the least of his worries to be honest. All the rig selection stuff will be happening in the back ground. Hopefully we hear something soon on drill dates. A drill in my opinion won't happen this year but could happen within 6 months of their extension.
Can you guys advise if they have all the well and drilling engineering finalised for this? Id imagine Essar have done this already.
You boys talking about SLRs and about serving etc. I am still waiting for that murdering thug Soldier F or one of those Deliberate lying animals from the Paras for mudering 14 innocent people on Bloody Sunday. Still to this day people trying to justify their sick actions like they were acting “under difficult circumstances”. Absolutely shameful.
MrNation,
5p in 18 months sounds good and yes a development with oil flowing is 10p minium. Has to be. BP state oil will settle around $50/55 a barrel. $50 is good an still enables even Big Oil to fund their future projects.
Who on here said they spoke with AM and he told them to hold to their shares as COPL. He knows it will be a success.
Anyway, onwards to 2p from here by year end hopefully.
Yatch,
Will we get drill dates in the upcoming RNS do you think? Also, I am seeking 5-10p here within 2 years. Is that achievable in your opinion?
I would hope that even before field development and infrastructure is in place it will surely be rising to 10p and once the field is up and running from what I understand a FPSO....it will continue to rise. Oil price will go over 50 in the next year and stabilize. The oil price always recovers.
MrP,
Thanks for the reply. Absolutely, I mean I am totally onboard with you and do agree but some are speaking of production and barrels etc but a field development is a different kettle of fish altogether here and would take years to complete. What I am interested in however is a price between 5-10p after appraisal drilling. What has been said by AM on this?
As we have so many experts here spouting about production from OPL 226, most of whom have never spent a day working offshore or probably ever spent a day at sea....do you have any idea how long it takes to develop a field and get oil flowing, even not considering this is Nigeria?
I'd like to hear from the offshore construction and production experts here (Jay, MrPositive)....obviously these guys have a link to COPL live updates every 15 mins. Can you send us the link where you get all this regular news? I guess you must have info, otherwise you wouldn't be posting new thread after new thread.
Kind regards
Onwards and upwards from here. Let's hope the RNS gets released asap. Maybe the large spike is due to leaked info? Anyway, amazing to see 39 million shares being snapped up. I really hope this breaks .5p today.
IS there any way to contact Arthur Millholland? Email or phone?
Anyone doing this nonsense misleading people with their hard earned money is not acceptable.
Why people keep referring to Arthur Millholland as 'Art'..... as if he has done the company wonders and if they trust him etc. Makes me laugh. Just refer to him as Arthur M...and not like a friend who has your back.
Why are people selling?? Who here is selling?? Own up. Idiots. ****es me off royally there are people shorting this. If they are clear off. This is a LTH forum...for when we drill and develop OPL 226. Not for greedy fools trying to make 200 quid here and there.
Shaa....why do you even care if 0.367 is comfortably paid?? Why are you buying and selling like a fool. If you have shares sit on them and shut your mouth instead of bombarding this forum constantly?? Bloody shorters...pain in the backside.
It will be a very exciting 6 months and reading the updates from Mr Nation and MisterPositive it seems we’ll be 6-10p in max 18 months if all goes to plan.
So we get the paper work done...head to the drill by Dec latest...prove the reserves are there..then Essar begin proceedings to develop the field and then the SP will rocket. Is it as straightforward as that in this region? If we hit even 3p i’ll be delighted.
I have been watching from the sidelines and have to say what i've been reading is hilarious. The same people spend hours every day on here talking about things they have no clue about. It's cringeworthy.
BPC have said all they need to say months ago and some news will come out with the merger...but they have said so many times the focus on P1 hasn't changed so why are you people getting your knickers in a twist? BE PATIENT for Christ sakes and shut up for a few weeks. Go out and enjoy life and stop posting nonsense every day.
OPL 226*
Hi guys,
I hope we get news ASAP to boost the SP where it deserves to be at this moment in time. I was just reading the below online. Very exciting. I tell you, i want to see an SP of 6-10p in 18 months time. Anyone think that is very likely?
''COPL plans to drill the first appraisal well at OPL 226 during 2020, subject to financing and regulatory approvals, and place it in production through an Extended Well Test utilizing an Early Production System. This is intended to be followed by the drilling of two to three additional similar wells on the prolific NOA Structure. This phase of the project would precede a full field development plan, to be implemented following OML conversion.
"COPL's current intention is to eventually bring three to four appraisal wells at OPL 226 onto production at a forecast rate of 6-10,000 bpd per well," COPL said.
According to a COPL presentation, the OPL 226 block has a best estimate of 2C contingent resources of 16 million bbls (gross) and Unrisked prospective resources of 533 million barrels (gross) of oil. Fully developed, the area could deliver production of 60,000 bpd.''
Nice one MP.
If the appraisal proves a viable field have COPL defined how they would commercialise it or develop the field? Fixed steel platform or floating rig? In this 6-12 months what max SP do you foresee?