Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Should have gone higher, but the MMs control the price either up or down, and not ramper,s or doubters, and that is why I do not ever filter anyone. I have often gleaned information from both parties and always try to read all posts. On the most important point the plugging of the water ingress, no one including the MMs have prior knowledge of when this operation is likely and it could have even taken place today. This if everything goes to plan will be a speedy operation and will catch us all out.
GLA.
oilybloke, and Mirasol, cannot fault what you say, but I am assured that the water ingress can be fixed easily because of the length of the horizontal..Anyway I am happy that the price I posted earlier can be surpassed if we flow 600 barrels a day from the Portland without any oil from the KLs. IMO 600 barrels a day will be the bottom end.
GLA.
oilybloke thank for your reply. IMO the water ingress was spotted in the last 20 meters of the horizontal drill, as the team on site would be on the lookout for water during drilling in view of what occurred at ANGS. I do not know whether it would be better to pay our 3 million in cash next week or in shares. IMO if we have the money a cash payment would be better. If we borrow money from YA they will convert to shares and I think that is the worst option.
GLA.
Because of the location of the water ingress at the toe end of the drill, this would be a relatively quick and easy fix. IMO even though there is a likely chance of a share issue to our former partner on Monday or Tuesday, from my working out I still expect UKOG share price to exceed 3p or even 4p just on the amount of oil that we will recover from HH2Z IMO.
GLA.
It appears that at last Brent oil will rise to $70 per barrel. At $68 dollars we will be making at least £37 per barrel, and on my working out our share should be between 1p and 2p per share based on 2 tankers a day. We should (In the new year be getting 4 tankers per day). So on that basis I will be happy to wait. Our well intervention could be taking place as I post and so hold tight as it could be risky to sell now at this price.This is in my opinion only and should not be taken as gospel.
GLA.
Unless the tax law over registering profits or losses by the end of December on your penny shares has changed. I am not disturbed at this time over the drop in our share price. As the tax law used to be all losses or gains had to be shown in December, and so share prices did always fluctuate badly at this time of year. Come January people can buy back in and then a balance will occur. This is IMO only, but I am here anyway for the long term I am cheered by the fact we seem as though we will be getting at least 600 barrels a day shortly.
GLA.
Philbatch. I have never ever made a price prediction, and only recently have stated that at 2 tankers a day from our wells the price should reach a minimum of 1.5p. On today,s result I will predict (for the first time), a price of 4p plus based on us getting 600 barrels a day from the Portland and 1 tanker a day form the KL.
GLA.
Today,s RNS confirmed to me what I did suspect was the reason for not going on to drill the KL horizontal .. SS was on the ball with regards to his plan to drill the KL. He would need to know the extent of the water, which after tests would show him the best direction in which to drill. IMO all is good and I hope tomorrow the share price be going back up.
GLA.
IMO, SS would have drilled further but he was aware that we could hit water. The team on site will have also been aware and stopped the drill as soon as a water ingress was obvious , hence the abrupt stop. Still seems good to me.
GLA.
What I failed to say in my earlier post, is that we will have been injecting water to thin down the Barite mud and water was already mixed into the Barite, prior to injection for use. All that water recovered will be from the Barite mud and the water we have injected, plus the water ingress from the toe end of the drill makes up the %40 water cut.. So in my opinion make the figures I have stated, the least we should expect.
GLA.
IMO what we have had today in the RNS is good news, apart from the water ingress at the toe end of the drill. If we had been told that we were recovering 600 barrels a day with no water, I for one would have been over the moon with that result.It should be a quick and easy job to seal off the water ingress with it being at the toe end of the drill. I expect the same result for oil production after the water is sealed off but in reality the oil return should be much improved with another possible 200 barrels a day on top of the 600.
This is IMO only and are am probably being optimistic, but will be happy for 3 tankers a day.
Happy New year to Everyone.
As I posted a few days ago, this is looking better and better, and IMO we a going to get a bumper new years present.
All appears to be going to plan so hold tight. You can regard this post as a ramp which I would never do normally.
GLA and Have a good Christmas.
IMO means we are going to get a lot more tankers a day. Three tankers today (if not Four) this gets better and better, Thank you FOTH and could you tell us when we get 6 tankers a day. At three tankers a day the share price should shoot up several times to where it is now.
GLA.
C.S. good posts today and very true. No one said that the three tankers yesterday was collecting oil and in my opinion at the time I thought 1 water tanker and 1 Barite mud tanker was possible . As it turned out I was right. Today we have had at least one oil tanker in and it could be two. It will take some time to clean up HH2z and that,s why I posted only 2 tankers a day 1 from the KL and 1 from the Portland. This share will come good IMO.
GLA.
Brent oil now well over $66. The kL pump back on. IMO Means at least 2 tankers a day one from the KL and if only one from the Portland should get us up to over 1.5p in the very short term, but 3 a day from the portland would be nice.. Lets hope now that winter is here in Nth. America and the EU that oil gets back to $75. All that lovely money.
GLA.