Strip Tinning Share Discussion Threads

[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

[hope67] 26/2/2016 15:36

Alba placed

[flyingbull] 26/2/2016 15:26

The March oil stock challenge is on! Deadline for entries is midnight on Monday 29 Feb 2016. Good luck!!!

fb

[pjm1162] 26/2/2016 12:35

All those millions reported late etc etc @ 0.25 are likely sells, seller selling at quick 7% profit before he rebuys his placing shares, common practice and explains why we have not risen with 90% ofbuys v 10% sells last few days, once it's gone this will rise very quickly, just hold or buy and be patient, this is the best bet out of all the hh ers now

[pjm1162] 26/2/2016 08:20

Was a tad weird to raise another 100k day after, can only be investors wanted more at 0.25, shows the demand was good, why not take it if it's there, I would, I am confident you will see more wield basin acquisition sooner than later, all looking very good here for a long sustained rise in the share price ...keep the faith, you may have lost confidence in bod but someone was prepared to buy 330 million shares at 0.25, this is a Stonking buy now....

[comedy] 25/2/2016 17:11

pmsl...post 5892...at least when we pi's get stiffed nice to know we have to tip as well???is that one for the gimp?:)

[beebong1] 25/2/2016 17:02

They forgot to allow for the tip!!!
edit Son reckons "2nd chance offer"

[barnetpeter] 25/2/2016 16:57

I would guess more wanted in at this price. This is hh after all....it might be the real deal. It's ok in fact....this was at the same price today in the mkt. I would like stg to buy another 5 per cent of hh...

[temmujin] 25/2/2016 16:55

all i can think is they want to buy alot more sites in the weald basin...going for the 100 bagger bigtime

[hope67] 25/2/2016 16:28

temujin
What on earth did you say to D's lol he's took his name off the second rns

[hope67] 25/2/2016 16:22

100k golden handshake for D's? Got to be an acquisition comimg

[godolphin] 25/2/2016 15:51

Another placing! Is that enough?

[pjm1162] 25/2/2016 15:04

Finally moved up as I thought, next stop .30, looks like the seller has dried up now, onwards we go

[barnetpeter] 25/2/2016 13:44

Sold out at near 40 yesterday back in today. The company now has the cash so is fully funded it seems. Not fair to those that bought much higher of course....

[pjm1162] 25/2/2016 13:32

Good news is buy order of 1.7 million has finally gone to negotiated order, this could finally tick up soon imo