Ya scumbags desperately selling to keep the price down. That on results they can still buy in 0.55 region. Will be good to see the last of them when HH2 produce and we can finance through decent finance company.
I think they are going to pump in that slurry mix at the far end and abandon that part. it's a matter of how many meters they do. should that be all they're doing . You wouldn't want to be out of this at the weekend. :)
No problem with borrowing money, it's the taking it back. The ink was hardly dry on the contract and they had their hand out. Over a 2 year period I read. it's on 1/4 way through and they have already taken 1/2 of it back. if they had, had some restraint I'd imagine this would be at 0.85 Nor 0.06. BTW it is 100% certain their is dry oil in HH2 proof of that lies with HH1 Giving that HH1 has been flowing dry for over 6 months I'd say we can go at least 1,000 feet with HH2/ atb.
Water in hh2. Yet ! As hh1 and kimmeridge both produce without water. hh2 must have horizontal limit to which oil can come out without water. So it's not a duster. I'd predict that the worst it can be is. one tanker from each layer of hh1 and two tankers from hh2. 880 bod 86% = 750 ~ After costs an income of £9.5M ( We may stem the water further along and of course that figure will increase substantially) Then there are other wells to drill, who is to say that another horizontal drill 20% to the west of hh2 could be No water at all. but thats for the future as it stands now. £9.5M year is 99.9 % the least we will have. atb To cap it all the worst case scenario. = Were in the money.
RNS 28 Jan : We are now into the third week since. What's the ******* hold up Sandison ? " Whilst the Company wished to act more rapidly, no suitable slim-hole production logging tool ("PLT"), essential to identify the exact source of water ingress into HH-2z, was available within the UK or Europe until this time. It is planned to resume the HH-2z EWT immediately following a successful intervention "