Member Info for simonm

Thats slightly wrong only 11.76% after tellurians carry ends until then its higher % as per all in HHDL

@ Krull

Alba only needs to cover max 11.76% of the overal project cost to maintain its % ;p not 1/3rd.

Right so found this so far..

We also loaned Horse Hill Developments Ltd a further £1.21 million to fund the drilling and testing activities carried out during the year at HH-1.

As mentioned before

The financial projections take no account of any revenues to be directly received by the Company as a result of oil production at the Brockham oil field or any revenues which may be received by Horse Hill Developments Limited (HHDL) as a result of production testing at Horse Hill, and which would reduce the commitments of the shareholders of HHDL, including the Company. Â

Nothing showing In alba financials for an intercompany loan to ukog? Anything in Ukog finacials to prove this out?

Interested to Find out more , is this specific to Alba/ or others invested in HHDL side?

The Aim for all in HHDL and that includes UKOG would be to get hh declared commercial, get the production licence through planning and approved, then Tellurian have no carry on the 35% interest that reduces the cost to all HHDL members

Taken from Tellurian docs...
"Horse Hill . Pursuant to a farmout agreement with Horse Hill Development, Ltd ("HHDL") dated as of December 20, 2013, the Company holds a 35% interest in PEDLs 137 and 246, where the Horse Hill-1 well ("HH-1") was drilled. In accordance with the farmout agreement, the Company’s costs in relation to these licenses are 100% carried by HHDL until production, including costs related to conducting flow tests. During the first quarter of calendar year 2016, HHDL conducted a successful flow test of several formations of HH-1, including the Portland sandstone and two Kimmeridge limestone formations. UKOG, one of the principal interest owners of HHDL, then reported that the flow tests measured a stable dry oil rate of 1,688 barrels of oil per day in aggregate from these formations. Although the duration of the flow tests of each formation was relatively short, we were very encouraged by these results"

If the ewt covers upto hh1-z ( side track), we will have the commerciality side confirmed before this, i would suspect Production planning applicatoion confirmed after this but before hh2 ( hh2 drilling to be after december 2018 = around feb 19) = Alba covered for 2018 program.

HHL2 11.76 % of 100% drill cost = ( 5 mill previous cost) = 588k.

The press releases state that the revenue from test will be shared into HHDL to reduce the costs for all members.No mention of delayed 2 million 1st earnings mentioned that i can find.

@ gerry got any more info on this?
"kiv following the inter company loan ukog has first dibs on £2m of oil revenues from hhdl"

Maybe ask Scully,lol

He may have 2-3 hats too eat on the way there ;p

Hopefully monday should be a blue day with the news and people doing research over the weekend :)

Also im sure i saw in relation to funding

" if HH can get this classed as commercial and get 1 well into production then the companies involved can then approach the banks and get a new source of funding removing the need to dilution" ;p

Think some where DL comments on this?

We have the money for EWT, and im not sure if the hh2 is included in this, i believe not. which is why per the terms with tellurian that if the HHDL group get this declared commercially viable and get a production licence in place out of hh1 then the 35% carry ends and they have to start paying ;p

But max would be 600K for this, that was based on on 5 mill well cost from previous (site prep is done and site infrastructure is there, so a new well shouldnt be as much).

Also the changer is Brockham, if the 8th august goes well for Angus then this COULD be up and adding revenue to Alba before we get to HH2.

Bags of good news on the way, tanker updates,,, flow rates,,,, greenland jorc and planning in for the gold...

https://twitter.com/Adrianwfire

Nice of DL & SS to of let the guys with those tele lenses on site today :)

That is top notch nice and really shows the guys want to work with investors to grow this chance.

https://twitter.com/WealdOilers

Some talk of the pump being able to do more than 500 bopd.

Scully is that selling all your shares ;p

Looking at the below you could be selling yourself short, then a profit is a profit and as wilk says it is AIM ;P

http://www.alignresearch.co.uk/alba-minerals/the-bluejay-mining-alba-minerals-conundrum/

Wilk has :) wait for the replies.lol

Is scully hiding or drunk from the bubbly

Anyone posted this on bluejays board,lol?

They may want some alba shares ;p

What a close :) well done all that have been invested in this, long way to go for that price.

And scully at this rate if its a blue day but not your prediction, those hats are still worth it ;p

Dont forget the impact we have with just the test so far
"we have low costs of approx $20 per barrel"

And at today's rate = $50 a barrel profit x 350bopd, that's approx 6 million a year to be shared betwen partners and that's only from 1 well in the Portland.

Scully that broker rating, i bet doesnt take in to account the gas which is venting as well;p

Or the increased area coverage which DL mentions 20 miles, so much upside for the hhdl companies.

Best start drinking oil then ;p hope its not 1ltr per bopd found. or this could be painful with all that oil in the ground.

Was it some 20 odd miles the Km could extend to per DL`s comments

Funny enough i thought about investing in hats :D

https://www.hatsandcaps.co.uk/brixton-hats-c_brixton_hats/

At the rate scullys eating them i hear the sales have gone up 150% lol

All good fun :)

Evening all, not a bad day for some ;p

Short term sidewards move, the fundamentals are still the same.

Extremely good plug from DL https://www.youtube.com/watch?time_continue=1&v=CGh03ErAxpM In relation to all in hhdl, and tellurian who all got a mention. And dont forget the majors to come in and buy ;p

The aim for the HHDL group is to get this classed as commercially viable, as per SS wordings & to get this into production with 1 well or 2.

If Ukog, Alba are smart along with the rest of HHDL, then we get the 1 well as a producing well ASAP ;p This then triggers the end of the free carry to Tellurian = A reduction in the next drilled well costs of 35% as the free carry is finished.

This then opens up a market for funding as per DL`s comments, no more share dilutions ;p

From Tellurians point the Commercial and production sign off, maybe best after the next lot of wells are drilled. This would save them around 1.75 mill ( based on 5 mill well cost).

Alba will need to fund around 600k towards HHL2.

Per DL`S comments the plays here are not to burn lots of money, but to do enough for a major ;p

Also we now have Gas flowing on top of the oil...

Alba is so undervalued, and a long term share not to be out of :)

My thoughts, right or wrong.

For my sins, i bought some,lol

Figured the well cost wasnt awful,and a positive. having earned about 534k in 6 months and adding another 326k ish once the well is drilled ( thats hoping for a hit at the 150bopd+) is a material change.

If it drops back will pick up more over the next couple of weeks.