sincero
09 Apr 2018
Re: Has trend reversed? Jerknife ( correct spelling) " Can you spot the trend there? We should expect another 14 more death spiral conversions ... each one in turn knocking the share price down a little bit more, a little more, a little bit more , ..... "todays loan conversion equates to 1.137p whereas previous 2 were 1.027p .... so much for your death sprial myth .
sincero
08 Apr 2018
43% up ... In just over a couple of weeks... I wonder how many bailed and never bought back in because of some of the nonsense some posters write on boards....
BlackPrince
05 Apr 2018
Re: Now you're talking Yep let's hope so.
camperdown
05 Apr 2018
Re: should a SP consolidation occur i did not know for sure,so i had to ask. ta
jimonegbr
04 Apr 2018
Re: should a SP consolidation occur CamperdownNot sure where you are coming from here, surely if it's a 1 for 20 share consolidation then the warrants would be reduced pro rata and small holders would be stuffed.I must say the report does make good reading.....
camperdown
04 Apr 2018
should a SP consolidation occur and SS took up his options afterwards,what would be the outcome?
sunny35
04 Apr 2018
Re: Now your talking One omission though all round, this well was designed and engineered as a production well, which very "likely" is a fact SS would rather was forgotten.Unless there is more to all this than we are given to believe.
GRAMPSAV
03 Apr 2018
Methodology The main point being,the oil is down there but the methodology to allow it to flow tosurface needs to be investigated. This has been apparent at BB since the commencement of the flow tests and the mediaannouncements along the way have pointed to these difficulties. Now the oil extent of these Licenced UKOG areas have been defined this should be a good pointer to the sweet spots somewhere between HH & BB.If the two new wells UKOG are proposing to drill hit these sweet spots they may decidenot to not to spend any further capital on developing the oil extraction method at BB.BB will have paid its way by proving the extent of the oil lake between it and HH .The original RNS when the BB drill was first announced, stated that this was an exploration well to prove the oil,consistency and strata content was similar to HH.In this context BB has proved its worth.
sunny35
03 Apr 2018
Now your talking The first four tests were conducted over the original 4-zone production completion. Each test covered multiple peforated sections which included significant sections of interbeddedd fractured KL shales. Acidisation was therefore not selectively administered to any specific limestone horizon. Whilst the results of the tests showed inflows indicating some initial permeabilty together with natural gas blows, the results were disappointing. it was concluded that during the significant pressure draw-downs associated with the test's coiled tubing lifting methodology, the fractures within the predominantly shale test sections closed-up, reducing permeability effectively to zero. Consequently, any possibility of sustained flow rates from such shale dominated sections could likely only be obtained via reservoir stimulation beyond the scope of BB-1z's existing regulatory permissions.Although these KL1 and KL2 zones are interpreted on electric logs to be hydrocarbon bearing corresponding to the oil recovered to surface, the Company concluded that sustained commercial flow rates from the shale dominated KL1 could likely only be obtained via reservoir stimulation beyond the scope of its existing regulatory permissions. As with the original 4-zone test programme we believe that the acid wash likely entered the highly fractured shales, not the thinner, lesser fractured limestones and under the pressure draw-downs exterted by both nitrogen lifting and pummping closed up during testingWhilst the KL flow rates observed are likely sub-commercial, given the multiple occurrences of mobile oil observed in the well and their correlation with good calculated oil saturations in electric logs and core analyses, we are exploring new methods and technologies that might enable us to achieve higher sustainable oil rates and commercial viability from the 1400 vertical feet of oil-saturated KL reservoir rock interpreted at BB-1z. With this in mind, serious consideration is being given to a possible future short sidetrack, BB-1y. The sidetrack's objective would include a selective re-test of the main KL units, likely utilizing an alternate completion methodology, new completion fluids, the possible use of small-bore radial drilling and other reservoir stimulation techniques. Any future work at BB-1/1z would likely take place after a successful trial of such alternate methods and technologies in the next PEDL234 exploration well.---------- ---------- ---------- ---------- ---------- ---------- So conclusion the fractures closed up because of high pressure administered in "coiled tubing lifting methodology" , and therefore are exploring "alternate completion methodology" which will have the desired effect.Wonderful information, why why was this all kept undercover until today, and what was the nature of the significant mechanical problems that were not rectifiable in the duration of the given time constraints?
jimonegbr
30 Mar 2018
Re: RNS Try reading the whole sentence.....
BarmyOwl
30 Mar 2018
Re: RNS RNS vague ----- suggest you read the annual report then, its 64 pages long
jimonegbr
29 Mar 2018
Re: RNS Not the disaster I was dreding but also not a great result. The RNS is vague in places and in my view demonstrates that the drill was a total SNAFU and they were trying hard to put a brave face on it. It has demonstrates the viability of the region and further down the time line a re-entry will prove the well commercial but only after HH testing is complete. Where the money for the next two wells and a re-entry is coming from is any ones guess.Still a good long term buy though.GLA
jtb129
29 Mar 2018
Re: RNS Interesting information in to days RNS "log data likely demonstrate an oil deposit of up to 1400 ft vertical extent"What is happening and yes who are they looking after the big boys with all the cash.
sunny35
29 Mar 2018
RNS All academically nice, but couldn't find the complex data warranting a week of assessing before being announced.Err. and those mechanical issues, are they such state secrets that we're not given any indication of their nature, and why couldn't they be announced earlier.So its pure bad luck is it?? first the drilling mud, and then mechanical issues, all which couldn't be overcome in the massive timespan they were busy tinkering there.And what about that icicle Tweet???So bottom line, all in principle up and running and nicely demonstrated, just anything to do with the key industry proof of commerciality all went pear shaped, over a 1400 ft of pay.Games Games and more games, the question is who is behind these games and who's interest are they serving.
danpoe
29 Mar 2018
RNS,BB UPDATE [link]
