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"if fracture porosity really is of the order 4%, is 'granite paste' a plausible explanation for why an 800+ metre section failed to flow from the DST in well 205/23-3A?"
I was thinking along those lines when the WD RNS was issued. (I used the word "silt", but granite paste fits the bill).
Over the millennia that the Rona Ridge has been geologically tortured, a considerable amount of fines must have been created. With the oil and gas migrating from the kitchen lower down the slope of the basement, there will have been a considerable amount of fines being moved about with the gas going upwards, the water down, and the oil whichever way.
Over the years, of course the fines will settle at the depths of the fractures, and compression will make it less porous and less permeable. With fractures not necessarily lying exactly vertical, blockages of will also occur where those sediments can build up on the irregular sloped sides of fractures. There will be some permeability and porosity, but much reduced from the rest of the reservoir. That would explain why enough water and gas to mention were found mixed in with the oil in the WD drill, there's water above trying to move downwards, and more importantly, there's gas coming from below trying to move upwards.
If the geology and angle of the fractures was fairly consistent across the level of the horizontal drill, then it should be no surprise to deduce that if the fractures were blocked by fines at one point at that depth, they would be similarly blocked along the length of the drill.
I'm no geologist, but I didn't see the WD drill as a major setback at all, more like one dart that missed the board, even professional darts players do that occasionally.
"That is why HUR's share price is at about the same level as when it was floated."
What was the Market Cap when HUR floated?
The MC is the comparable metric, not the sp.
I for one use a spreadsheet to keep track of every tranche bought and sold.
I do it mainly because it makes it so much easier to calculate any CGT liability if you enter the numbers when they occur rather than try to find the data again at the end of a tax year.
The by product of keeping it all up to date, is that by adding a column for the current sp you can easily see if each tranche is in profit or not. If you are a LTH and don't trade much, it also makes it easy near the end of a tax year to know whether you might sell a few and buy back 30 days later in the new tax year to crystallise some gains inside any unused CGT allowance, so minimising your total portfolio tax bill - the cost of trading out and in again is usually much less than the cost of accumulating the CGT gain into a future tax year.
copy the below, just remove all the spaces and put dots around you tube
www you tube com / watch ? v= nIAsf1g6wQE
v= 2upE6beTMkg
v= BqGq1vP9sMc
Buys and Sells...
For many reasons those figures are pure fantasy and should be ignored.
The total daily volume is significant and accurate, but the division into buys and sells is fatally flawed and no attention should be paid to those numbers.
The information that a trade is a buy or a sell isn't determined at the point of the trade, but when it is reported. The trade price is compared to the Bid-Offer prices at the TIME OF REPORTING, and whether it is a Buy or a Sell is deduced from the trade prince then. Of course, the bid-offer prices may have moved since the trade was executed, either up or down, if the price bid-offer has fallen then more trades are misreported as buys, if the bid-offer has risen then more trades will be mistakenly reported as sells.
There are also trade types that would be more correctly reported as both a Buy and a Sell, as they're trades directly between buying and selling shareholders, but they too are reported as either a buy or a sell by the above algorithm, so misreporting one side of the balance.
It's all historical from the time that electronic trade reporting was first ever implemented, in dial-up modem days, to save the extra bytes of information a 'buy/sell' indicator wasn't included as it was thought to be sufficient to derive the information as above. The professionals in the city know that it's not good information, but they don't care as they gain an advantage over the retail investor by supplying poor information, there's no financial incentive to spend effort in correcting it. It's an implicit industry-wide conspiracy of retail customer misinformation. It's the status quo and has always been so, no one who has the ability to change it wants to do it, and the financial watchdogs and regulators have consistently ignored the problem.
Heed the daily volume figures, but ignore the division into buys and sells, in large part they're a fiction.
"How much are bp shares !"
What's that got to do with the price of milk?
How many shares have BP issued?
You need to use market cap to compare companies, not sp.
So what do the inventoriy charts tell us?
Are they a lagging indicator, where an increased inventory indicates a lack of demand in the previous period?
Or are they a forward indicator, showing an expectation of increased demand in the next period?
Probably both, as the maximum inventory is a fixed volume and it's just a buffer between supply and demand.
How do we know whether increased inventory is due to higher production, or lower demand?
It could be lower production with an even lower change in demand, or it could be higher production with level or decreased demand.
My understanding is that petroleum usage is very seasonal, so a 3 or 5 year chart would be much more useful than a 6 month chart, after all, an increase in inventory after the lower use of fuel after the end of winter and before the before the summer "driving season" would be my expectation before even looking at the figures..
"I might as well open a short."
The only short worth opening for Hurricane will be a good whisky.
The key is in the timing, and you said it yourself... "Hurricane is GOING TO..."
Those that aren't patient, want their cherry before the pie is baked, so they've sold out.
The patient are waiting for the "good cash", which will come.
It might be sooner, or later.
It's that simple.
"I don't think it was exactly well flagged in advance that initial availability would only be 45% for months, then 65%, only later 85%."
Have a look at the following Corporate Presentations for the advance warning:
2018Q2, 2018Q3, 2019Q1, 2019Q2
Wulbert, yes you've got it.
There's a webcast of Hurricane's April 2017 CMD here:
https://webcasting.brrmedia.co.uk/broadcast/58e4d292ad2a006c3094befe/58e4eb5e253d08b958000035
I'm trying to eat my tea - I'd rather talk about politics !
When reading dates from the seafish reports you have to bear in mind the purpose of the reports.
They're intended for marine fishing vessel safety...
the date ranges quoted are "greatest expected" as engineering tasks are often flexible with regards to timing, whether due to engineering delays, weather conditions or other factors. The reason being it's safer to make a shipping warning for periods that encompass all the possible dates even if the hazard not is there for the whole period warned, rather than not make a warning for when the hazard is there.
So, date periods provided to Seafish will, more often than not, be longer than the time that the engineering actually requires.
Sending the list of questions sooner would mean they'll put what answers they can into the presentation, and answer others they're willing to answer by return beforehand, so leaving time in the AGM for the shareholders to re-ask the awkward questions!
Look at the expected news flow for the company over the rest of the year, there's plenty coming.
and don't forget the old maxims...
go with the momentum, sell your losers and run your winners.
Up and coming news?
Page 8 here:
https://www.hurricaneenergy.com/application/files/2915/5531/1740/Hurricane_Corporate_Presentation_-_2Q_2019.pdf
maybe double all the figures for small and medium...
but it is very subjective.
For the amounts, you're probably looking at something like:
small - < £20k
medium - £20k - £100k
large - £100k - £1m
major - £1m+
ian67,
the FPSO is an oil refinery on a ship...