Member Info for stubluekpl

Many of us posting since those days and not amused at todays levels.

we are where we are and hopefully the road back up is near. I'm still buying when I can and hope to be rewarded for that but that's my call (and gamble)

the news is actually good news and 7% rise is very disappointing so far.

For those not seeing RNS - GOOD NEWS AT LAST
Production: Blythe H1 well
· The current gross unconstrained H1 production rate is approximately 17 mmscf/d
· Over 2023 year to date, average gross production has been 14.9 mmscf/d, factoring in liquid letdowns alongside other Bacton gas streams and planned H2-related shutdowns
· Operating Efficiency year to date has been 95.4% and Production Efficiency 86.4%¹
· Safe hook-up and commissioning of the H2 well is expected to require 3-5 days of planned downtime in both May and June respectively

Drilling: Blythe H2 well
· Substantial progress made in resolving the well control challenge in the Hauptdolomit formation above the reservoir highlighted on 18 April, limiting the likelihood of needing a sidetrack
· The situation has been uniquely challenging given the confluence of abnormal formation pressure with an influx of hydrocarbons, drilling fluid losses, the bottom-hole assembly becoming stuck and drill string being plugged
· However, close collaboration between key IOG personnel and the Petrofac and Shelf Drilling teams has enabled the latter two issues to be resolved, materially improving the situation
· Two cement plugs as well as specialist Lost Circulation Materials have been deployed, significantly mitigating the drilling losses
· The 8½" hole section has been drilled to a revised depth and 7" liner will be run and cemented to isolate this section, enabling continuation of drilling into the reservoir as planned
· On that basis, the well is targeted onstream by the end of Q2, at an estimated additional cost impact of £2-3 million net to IOG
o The initial well cost estimate was £13 million net to IOG, including associated platform modifications, before any potential tax shelter or investment allowances
· In a success case, H2 would deliver several key benefits:
o Gas production rates initially expected at 30-40 mmscf/d after a ramp-up a period of displacing liquids in the Saturn Banks Pipeline System
o Lower aqueous liquid arrivals into Bacton, reducing associated operating costs
o Increase in ultimate recovery of Blythe gas reserves
Corporate

· The Company held £31.9m in cash at the end of April, of which £6.8m was restricted

· Given the current lack of Southwark production, management continues to carefully control costs, assess all future capital allocation and evaluate options to optimise the balance sheet

is there an issue with RNS alerts on this site? I cant see any rns on the system (had to go to stock exchange to view)

Was talking to Drilling supervisor on my rig about the RNS.
As the rns says and after discussing with the dsv, hopefully it's just a cement job and carry on but I suspect side track is looking the option due to the possible extension or up to four weeks.
As many know, this game is rarely simple. I'm not involved on the drilling side apart from maintenance but even the well we are currently working on has some major issues at the moment that actually weren't forecast at all

Sorry, should read up to four weeks.
This scenario was considered in planning but still a pain in the ****

4 weeks

Maybe just shareholders that were here for years and eventually seen through the nonsense?

Seeing these levels is absolutely depressing.

Way, way over the top imo. Yes we have had plenty disappointments but this level is a joke and I honestly can't believe we are sub 20p never mind 5p

Trading now. Was ticking up

Can't buy at the moment. NO from 2500 gbp to 500 that I tried

Well at least that is one bit of good news.
2.9%left

A lot of new faces around lately. Not complaining as want some volume but I'm not exactly getting excited at 8p ish a share. When it's over 30p I might start smiling again...

Yes. I'm still averaging around the 19p mark. But I did buy more the last few weeks and I haven't hid that.
Whether I am right or wrong to have done so is another matter

I'm seriously not worried about LO offloading.

Well this is depressing to say the least

I work in the industry and have a few colleagues that have bought in here like myself.
I believe it will come good but each to their own

found a little more down back of couch but cant buy just now (Negotiated order only)

I agree dunderhead. Interview very good . Hopefully we are all like zebedee soon :-)

Tbf dunderhead you have said about Fiona from the start.
Can I ask everyone what you would say she has done wrong. This is not me supporting her position, I'm just trying to see why so many want her gone.
Thanks