Member Info for SecretBlueprint

Good evening Harry. The existing wellbore had formation damage during drilling from mud invasion, or so they say. I suspect the reperforation has not delivered 500 b/d and the plan is now proppant squeeze and if that fails , a sidetrack is on the cards as well, as in the Egdon well plan, reported by RNST below.

Nodding donkeys and ESPs are usually solutions for low reservoir pressure rather than formation damage.

I have raised a question through the Phillips 66 refinery portal, to try and setttle the matter...

"Can you tell me if any crude oil tankers are carrying oil to the refinery from Egdon Wressle oil field in N Lincs and if so how many per day ? Thank you"

The chap does have a track record of doing business in these sceptred isles with both listed and unlisted companies which have never made any profit but simply raised funds to pay salaries.

Alpha Universal Management plc never made a penny profit and was delisted.
Argos Global Limited never made a penny profit
Argos Global Holdings Limited never made a penny profit.
Alpha Growth plc had so far failed to report any profit

The excuse for lack of progress is COVID. Well if this is a business model that requires physical meetings to survive, then it is no different to a barbers shop. if it does not work in a pandemic, then it is not uncorrelated, but actually highly correlated to public health emergencies.

Interesting that Giles says that GS thinks he owns it. He does for all practical purposes. The retail shareholders are simply the oppressed majority.

The bloke needs to step up and account for his failings: RCF, SMA, AGI, Hybrid offering, AUM, bit he wont.

Auson , I dont think so.

Harbour is domiciled in UK , not FI.
https://www.gov.uk/government/publications/falkland-islands-tax-treaties

Once again if poster "Taxing" is reading, he might comment.

There is a double taxation agreement in place between UK and FI , and it is the only such agreement FI has with any other territory. It covers personal and company taxes.

Part 24 says
(a) Falkland Islands tax payable under the laws of the Falkland Islands and in
accordance with this Arrangement, whether directly or by deduction, on profits,
income or chargeable gains from sources within the Falkland Islands (excluding in the
case of a dividend, tax payable in respect of the profits out of which the dividend is
paid) shall be allowed as a credit against any United Kingdom tax computed by
reference to the same profits, income or chargeable gains by reference to which the
Falkland Islands tax is computed;

So every pound of tax that Harbour might pay to FIG just becomes another tax credit in UK to add to the stockpile acquired from PMO.

It works for RKH if they had any profitable business in UK. It won't work for Navitas or for the likes of Noble.

There seems to be a case for Harbour walking away from Navitas and acquiring RKH, on tax credits alone. Perhaps the poster " Taxes" can offer a comment?

Get a grip folks. If there had not been a tanker after seven days of "free flow" then frankly it's fookdd. We need a tanker 3 times a day, not one a week. No?

https://mobile.twitter.com/carlthurston/status/1358841599992737796

Ok its twitter!

First tanker out of Wressle today, it seems. So thats at least 200 barrels of something if only mud brine and acid from the well clean up flow.

The energy density of hydrogen is more than twice the energy density of methane so it ought to be part of the green fuel solution if CCS can be perfected economically. The Rough and Morecambe fields have been used as gas storage for more than a decade, so we know how to store gas underground.

10 tankards a day must be at least 10 litres. Carry out job in a Tesco bag for life. Not to be seen.

The cost of producing hydrogen by electrolysis of water is 5.3 pence per kWh

The cost of producing hydrogen by steam reforming natural gas is 5 pence per kWh, but then there is a cost of carbon capture if you dont vent the CO2. In Humberside thefe will be a CCS facilty to bury it in old gas fields.

So there is a business case.

Going back to some of Durrant's comments about finance, UKEF only applies to goods exported from UK. There are goods from several other European countries which need to be supported by their own export credit agencies. Standard Chartered was lead bank to pull this together and failed, if I recall correctly.
Out of the EU and no protocol for financial services, BoJo policy review of UKEF,it all looks tricky.

I am sure I heard from DB that the Wressle well is just being cleaned up at the moment and that a proppant squeeze will be required as an additional intervention to get anticicipated production rates. So we are unlikely to see tankers every day for now?

At least you can be sure Sam is up there in the 1% and he is paying his IT, NI, CT, VAT and fuel duty with YOUR money, not HIS money, since the company has never made any profit to pay directors' salaries.

Shareholders should be proud of that contribution to tax in the country's hour of need. CLAP for shareholders!!

No Bonios in KashDog's breakfast then?

That message did not last long before being blocked.
Useful link that "*******************dididicer" , as useful as a sieve for a beer bottle.

It looks like a coiled tubing operation from the drone videos. Well clean up operation IMO

If any well stimulation was required, the workover rig would still be over the well, surely?

It might be better if ALGW was on AIM. At least there would be a NOMAD to proof read GS's RNS to avoid avoidable goofs

I thought it was always the intention to use a rod and sucker pump for production at Wressle. If you want to call it swabbing rig, then what's in a name?