Strip Tinning Share Discussion Threads

[pjm1162] 02/3/2016 07:41

Crazy to cut losses, you should be adding at this level, it will catch up, trust me...give it some time....

[funkmasterp12] 02/3/2016 07:18

More good news. Looking very interesting now.

[hmv001] 01/3/2016 11:31

the share price is suffering due to DS . ZERO news on gold.

[hope67] 01/3/2016 10:42

Think there will be another update on Kimmeridge before Portland

Note that as a consequence of flow initialisation via rod pump, the initial natural flow rates stated above were further restricted by the rods within the 2 and 7/8-inch production tubing.

The well was shut in at approximately 1830 hrs yesterday. The well was opened and free 'natural' oil flow recommenced at 2234 hrs yesterday. The well was flowed to obtain a further stabilised flow period and reservoir engineering data. A further update will be provided once this new data is available.

[dafrog] 01/3/2016 08:32

They thought of themselves only. Nasty bod. Gives business a very bad name.

[daicaprice] 01/3/2016 08:04

Because they always do I D.

DC

[toolsmoker] 01/3/2016 08:04

Ukog up 30% and this 16% surely we should be higher

[investordave] 01/3/2016 07:53

But with such good news and the potential for further gains why sell out for a small profit?

[daicaprice] 01/3/2016 07:47

Great news but it will give the new placing shares something to sell into, so I'm not expecting too much.

DC

[thehitman1] 01/3/2016 07:19

Excellent news

[pooler1] 01/3/2016 07:16

Good flow rates.

With this stable Upper Kimmeridge limestone flow, the two Upper Kimmeridge and Lower Kimmeridge limestone intervals have now produced a combined average stable rate of over 1,360 bopd.

[tmmalik] 01/3/2016 07:14

Let see where it will go up,60 I guess

[hope67] 29/2/2016 12:59

David Lenigas ‏@DavidLenigas 2h2 hours ago

I'm going to suggest to Sanderson that he refuses Andrew Bell coming back in to Horse Hill. His uneducated comments are disgraceful.

[hope67] 28/2/2016 19:53

Good post from Evilplum on Dor bb on lse

The HH-1 flow tests mean someone WILL drill Brockham to extract its K-oil, hopefully us.

I was going to sell DOR and walk if they did the GGO deal, but the flow tests changes DOR's risk and reward ratio. A worst case scenario is that the extended flow test produce insanely vicious decline rates and a process has to be added to get the flow rate back up, (acid fracturing in this case), which increase the breakeven point. However the flow rate is so astonishingly good, it's still commercially viable, even with an extra process added.

At 1,500 BOPD per side track, (3 x flow test result), then with a 2 year Return on Capital, we need poo at $25 for breakeven. A single side track at that flow rate would, (allowing 20 days down time for maintenance pa), generate circa 500K barrels per annum, and with a lifting cost of $10, (daily production cost), that would generate a revenue of £5M net of lifting costs, (see note 1), on a breakeven of $25. HH-1 cost £6M to drill as we went very deep looking for gas, plus circa £1M in sundry costs, and as you have seen I estimate £3M for a side track, (£1M higher than at Brockham as there's a fault line close to HH-1, see note 2). So that's £10M cap ex in total, which gives an ROC of 2 years from a single side track with poo at breakeven of $25. Add more side tracks, and the breakeven figure drops.

If we side track Brockahm, the only cap ex costs are for the side tracks and some extra surface infrastructure, as the wells are already drilled, (3 of them), and paid for. At a cost of circa £2M per side track if we go out half a mile, each generating 500K barrels per annum, then a similar 2 year ROC would result in Brockham's breakeven being about $13 per side track, ($10 lifting costs + $3 cap ex). Needless to say, if we drill new wells from surface to oil, then cap ex will be higher, but still not as high as HH-1 as that went absurdly deep so had a cap ex cost of twice what it needed to be to get at the K-oil.

Note 1: Magellan had a 35% free ride during the exploration stage and first well, but that will change when we go into production. How it changes depends on loads of stuff, but I don't see a free carry on cap ex when it comes to muti well / site production. As such the above assumes HHDL has 100% of the licences with Magellan holding a 35% shareholding in it.

Note 2. Above assumes we can extract circa 1 sq mile of oil per site. That's with the pads bang in the centre, and half mile wells fanning out radially. There's a fault line at HH-1 nearby to the East, so its pad isn't in the centre, so side tracks will have to fan out a greater distance to compensate, hence £3M drill cost at HH-1 vs £2M at Brockham, so as to cover the same 1 sq mile of oil.

Note 3. HH-1 breakeven will be higher than at future HH sites, as we drilled it to deep.

[hope67] 28/2/2016 14:14

Lowrdr I thought the same thing Evo and Stg could buy some HH from Dor, but then I thought surely that would be a conflict of interest and a real shafting for Dor shareholders. Have a feeling we're going to opt into Brockham.

[l0wrdr] 28/2/2016 11:48

Maybe STG will buy out DOR's share of HH? I would do that if I was running this

[hmv001] 27/2/2016 20:29

Rinse wash and repeat and no other action other than placing with Donald Duck and his chums. All the stuff invested in so far is idol incurring wages except HH where there is no DS control. Coal is a write off and gold wasted in all "most active" program as previous RNS. DOR people ripped off for atleast 250k plus and suspended with delisting imminent unless a miracle happens. Lenigas mates filling their pockets as usual . Rinse wash and repeat cycle

[temmujin] 27/2/2016 20:29

maybe they have welsh gold permit now...and they need funds for mining it

[hope67] 27/2/2016 13:16

Alba placed but wording is different to ours and Evos they have raised funds to advance their projects we are using ours to invest maybe we are investing in something Alba already has an interest in.

[pjm1162] 26/2/2016 15:53

Laugh, oné or two wells they drop it 5% , tonnes of hits share price doesn't move, great price to buy now @ .26