Firering Strategic Minerals: From explorer to producer. Watch the video here.
As I understand it HH is about a mile away from an Esso pipeline serving Gatwick ? If so that is likely to be a aviation distribution pipeline, but there are ways of using a pipe for other purposes without causing contamination.
How right you are and what ludicrous suggestion. There would be no guarantee that the price of oil would go up. With America which used import about 25% of all world wide oil now near sufficient from shale oil and the electric car market gaining ground by the minute and taking into account that the embargo on Iranian oil has taken competition out of the market with Saudi Arabia but that may change at any time, then anyone betting on the oil price rising and staying up there must have a defective crystal ball, they should ask for their money back !
What ever is driving Solo has nothing much to do with HH, although the schedule that somebody published on here yesterday does put full production at least into 2020. That is 62 weeks construction and tooling up and my guesstimate of 6 months in the planning system and maybe three months before they have got their application sorted out and submitted. What Solo is doing is probably more another investment opportunity in their sights with a quicker return
What ever is driving Solo has nothing much to do with HH, although the schedule that somebody published on here yesterday does put full production at least into 2020. That is 62 weeks construction and tooling up and my guesstimate of 6 months in the planning system and maybe three months before they have got their application sorted out and submitted. What Solo is doing is probably more another investment opportunity in their sights with a quicker return
IMO if this turns out as expected we could see 50pps very soon, however that will be as a result of a consolidation. Unless something extraordinary happens to push the SP to that target naturally, which would be very difficult with over 4 billion shares on issue because for that kind of money there would be profit takers at every step upwards. The share profile would be like correlated roof
Well like him, or not, it looks like that he could well be proved right about the size of the accumulation down there. In the event the so called experts who phoo hoed his statements , would not be experts at all, it would seem !
Well like him, or not, it looks like that he could well be proved right about the size of the accumulation down there. In the event the so called experts who phoo hoed his statements , would not be experts at all, it would seem !
If there is a short fall on capital then they should easily raise finance to get into production. As long as , in the meantime, they don't go off on wild goose chases into BB and IoW before they are properly anchored down . They can start them once cash if flowing in
I agree with you Barn060. It always seemed such a shame to me that company resources were wasted drilling BB, when they already had extraordinary pointers to HH and probably HW, but I suppose we cannot blame SS entirely I doubt it was a sole decision and there were people telling him that the place to drill was BB and to drill now ! But, looking at a map HH is 11.4 miles from Balcome and both seem to be reporting the same sort of test results. Assuming that it is the same accumulation then it does not follow that HH and Balcome are at the extreme ends of it, so one can conjecture that the accumulation could be 20 or more miles North to South and perhaps just as wide. We
already know that K3 and K4 are connected giving an oil column of 348 feet ? ( or thereabouts)
Above that we have the lesser but significant Portland find. It could be a world class oilfield and people are selling ? - Unbelievable !
I can't see why Solo would be selling. An RNS is now due any day now and regardless the two earlier layers they have tested have flowed at more than enough for a viable oilfield, so K4 will just be more icing on the cake. Thus, even if Solo were selling which does not to make sense, the anticipation for this oil field is so good that any shares dropped back in by Solo ought to be mopped up but they are not, so what is going on explain this ?
I don't think that they can hold up vital news for 150 days etc.. If it affects the wealth of the company , either way that is information which all shareholders are entitled to. The reverse would be that a small group of 'privileged' information would be free to buy or sell on the basis of inside information . tut tut !
https://www.arabianindustry.com/oil-gas/photos/2014/may/13/gallery-top-10-biggest-oilfields-4697966/#2-burgan-field-kuwait-72-billion-barrels-the-onshore-supergiant-burgan-field-is-an-oil
If David Lenigas was right as to the eventual quantity of oil in the Weald, then this would be up there with the largest
I believe it is the number of shares on issue that is causing the problem, a million shares brought is only one thousand of a percentage of a billion and there are more than 4 billion shares issued . It is not that the potential is not there, but we cannot move it up unless there is mass buying and that may come when they issue the final RNS
I don't know what their time schedule to production is, but I imagine that it is a year away, and they have very little coming in at the moment, and they are in debt.If they keep issuing shares one could use them to paper the walls with, but little else. A share consolidation will, of course, limit the number of shares on issue, but I believe that a new consolidated SP would have to be backed up by production or very near to production, otherwise it could fall flat on its face. Certainly, if it goes to plan, they will have a large enough income to settle their debts. but it is between then and now that they have to cover. They could, of course, take a straight loan. perhaps a merger. Or, try the Dragon's Den, for 40% of the business ! How do you see it pan out ?