Member Info for Phil7390

Seems a piddling amount to convert.

"True but they only need a 50% plus one share majority to do it. Now I can think of enough people who are holding these at prices sub 1p who would take 1.4p right now to realise a gain."

I'd be very surprised, lots will have bought in the 2017 spike and will want significantly more than that.

Shareholder agreement would be required for any sale, and I for one would not be agreeing to any sale at a 20% "premium". They'd have to prise those shares from my cold dead hands.

Ninetails - the problem is that analogy is flawed. The reality is the hammer might go down and no-one has actually bid, the auctioneer just sold them to himself, or his mates, at a steal. Or the sheep he just sold were his, and he and his mates, the other auctioneers, had already decided the price before the sheep entered the ring.

Showing off now!

Maybe I'm being harsh, but anyone trotting out the lame "dilution" whinge goes straight to filter for me.

Pboo - OK, thanks. DO we know what the big white unit was on the truck before that? Just a portacabin?

pboo: https://www.lse.co.uk/ShareChat.asp?ShareTicker=UKOG&share=Uk-Oil-and-Gas&thread=EFAFA4C2-3525-4870-8DDA-4247F9C6A0A4

The one trailered in was on wheels, and if it was a genset then from the physical size of it looked like maybe a 10/20/30Kw unit. Possibly a hired unit as a stopgap until the static units are in place?

Pboo - yes, flare stack will still be required but for emergency use.

"An enclosed gas flare will be located adjacent to the process area and designed to meet the EA’s best
available technique standard. Flaring will only be used in the event of an emergency or for maintenance.
When in operation there will be no visible flame, noise emissions will be attenuated by the enclosure and
air emissions will be minimised via flame temperature control."

Planning application section 83.

Looking at the video posted last week I am 99.9% certain the unit trailered in at 1:16 is a generator set. All going to plan!

Was the blue unit trailered in last week the first gas-to-wire unit?

Section 82 of the planning application:

"• Year 1: 3rd Quarter
Having completed the modifications to the existing well site within Quarter 1, phase 2 drilling
commences with the completion of the water reinjection well. This allows HH-1/1z and HH-2 to start
producing, engaging the process and storage facilities along with the gas-to-power combustion
generator sets and the first export of oil and electricity. "

So gas generators should be installed alongside the HH2z sidetrack.

The plans include provision to generate electricity from the gas rather than flaring. I wonder how much gas we need to be producing to make this worthwhile economically and when its likely to be done; probably not just yet as the site is busy enough!

Producing from Kimm while drilling the Portland surely?

I'm happy for the drilling job to take as long as it takes. Don't do a Deepwater Horizon and skimp on those pressure tests!

Mirasol - seems you are not getting it. To suggest timescales and costs for onshore are greater makes zero sense compared to lugging men and equipment out into one of the most hostile marine environments on the planet, then drilling under the sea and having to pipeline back to dry land. That makes no logical sense at all. None. And that's before you start to factor in the loss of life in helicopter accidents etc.

No onshore company that made it big? This is a unique and unprecedented opportunity, so no surprise there. Someone has to be first, and UKOG are well on their way.

Timescales? Well, North Sea oil exploration started in the fifties, but didn't start production until Ecofisk in 69, and economic production not until after the '73 and '79 oil crises. You could argue that wells being brought on line now are 70 years in the making. 5 years is unbelievable?

****** filter engaged.

Looks like 2 full and 2 empty going by the wheels up/down on the tankers in the two vids.

Then why do they bother? Are they self harmers?

It's a shame that LSE's filters don't go as far as filtering posts that mention filtered posters.

Most of what I see these days are posts moaning about the Seadoc, DHC, Qwerty and sundry other uninvested parties. Do everyone a favour, once you have established beyond doubt that a poster a) has an agenda b) is not invested and c) posts utter *******s, as length, ad nauseum then please either filter them yourselves, or at least stop feeding them the oxygen of publicity.

If they have not contributed to the cash call then they will not be entitled to as much of the earnings; they may still own the same share but they won't get the same share of the revenue.