The incremental tax called "ACES" - implemented by Sarah Palin, was meant to take more money out of the pockets of big oil and put the money in the pockets of Alaskans through the trust fund. It backfired, as companies pulled out, quit drilling, and sought profits elsewhere. Mrs. Palin did not seek re-election. It made the North Slope less attractive due to the big taxes levied on high-producing wells, which would have been felt the most during the first months and years of production. Those early funds are needed to quickly recoup drilling costs.
Sensing the repeal of ACES was going to be permanent, BP moved two rigs into Prudhoe Bay, and so did Conoco. BP may go ahead with additional projects as well. Repsol has begun activities, and we all know Hilcorp has moved in.
In the meantime, MILL has a rig being prepared to drill in the Badami.
MILL is an equity play - EBITDA is the name of the game.
Here Verado is using a little bit of truth to paint a big lie - skillful stock bashing, but useless against educated persons.
Ryder Scott included RU-9 in their reserve report. "RU-9 included as a PUD as logged to TD and about to be completed and put online"
No idea what it could produce. - "RU-9 is intended to capture oil reserves from a large four-way structure located approximately 2.5 miles southwest of the Osprey platform. The primary objective for the RU-9 well will be the Hemlock formation, the principal producing formation in the Redoubt Shoal field."
My guess is that the well is completed, running, and that they need time to provide an IP number.
YOU LIE. The only mention of 10% was on RU-7 post re-work.
Verado, all you ever do is lie, and your lies are easy to disprove. You stink at shorting MILL (obviously) and you are even crappier at being a Yahoo message board basher.
•Completed optimization on RU-7
•Flow rates increased over 100%
•Annual decline curve decreased from 27% to 10%
•Bottom hole flowing pressure doubled
•PV-10 increased 3x
•Plan to optimize all RU wells
(Ver batim, Oct 2013 Westlake Securities conference)
The entire north slope production is lower also, due to normal maintenance. As miller matures, I think we can expect the company's production to also show summer dips. So I wouldn't be surprised to hear the production has increased.
Agreed that wmru-8 is not going to produce without a sidetrack.
Sentiment: Strong Buy
That is the nature of initial production data. Easy for the shorts here to use some data to paint the wrong picture.
The more you mix a little bit of truth in, the more a big lie can work. Like David Hall said, the wells under Osprey are in fact operating as any other Cook Inlet oil wells.
Thank you for providing clarification. The Redoubt field is providing oil and gas at the same rates as the other Cook Inlet fields. Many people do not know how to read an IP report. The improved methods Hall is using are correct for the Cook Inlet, and he is showing much improved results compared to Forest.
Hopefully MILL will announce some increased production and a share buyback soon.
Sentiment: Strong Buy
The USGS assessment strategy provides estimates of the volumes of undiscovered oil, gas, and natural gas liquids that are technically recoverable. For the Cook Inlet region, the USGS estimates that total undiscovered oil resources range between 108 and 1,359 million barrels of oil (MMBO), with a mean estimate of 599 MMBO. The low and high numbers in this and other estimate ranges
represent 95% and 5% probabilities of greater than these amounts, respectively. All of the forecasted oil resources are expected to be found in conventional accumulations in just
two assessment units, the Tertiary Sandstone Oil and Gas AU and the Mesozoic Sandstone Oil and Gas AU. The USGS estimates that total undiscovered gas resources range between 4,976 and
39,737 billion cubic feet of gas (BCFG), with a mean estimate of 19,037 BCFG. Of this mean natural gas estimate, about 72%, or 13,726 BCFG, is expected to be found in conventional accumulations in the Tertiary Sandstone Oil and Gas AU and the Mesozoic Sandstone Oil and Gas AU, whereas about 25%, or 4,674 BCFG, is expected in unconventional accumulations in the Cook Inlet
Coalbed Gas AU, and 3%, or 637 BCFG, is anticipated in unconventional accumulations
in the Tuxedni-Naknek Continuous Gas AU. For natural gas liquids, the USGS estimates
that total undiscovered resources range between 6 and 121 million barrels of natural gas liquids (MMBNGL), with a mean estimate of 46 MMBNGL. Of this mean estimate, about 80%, or 37
MMBNGL, is forecast to be in conventional accumulations in the Tertiary Sandstone Oil and Gas AU and the Mesozoic Sandstone Oil and Gas AU, and the remaining 20%, or 9 MMBNGL, is expected in the Tuxedni-Naknek Continuous Gas AU. Cook Inlet USGS Assessment Team"
Verado, all you do is lie. And poorly.
Horse$#!t. You haven't a clue what RU-9 "looks" like. You're just a short basher, probably Verado. I don't think they would have any trouble finding a buyer. There's no desperation for MILL.
Why post at all? If your short thesis is correct, you don't need to get the 10 longs reading Yahoo to join in. It won't do you any good. You say that the fundamental problems are built into the DNA of MILL and therefore the child is stillborn.
Good luck, Verado. Good luck.
Apache just applied for a 2015-2020 permit to continue their seismic program. They are not leaving.
It is the largest 3D seismic program ever conducted on planet Earth. It was an article in Petroleum News and posted online for every Apache shareholder to read.
The 2009 acquisition of CIE by MILL included "thousands of acres of 3-D geologic seismic data." Taken from an 8-K back in December of 2009.
Verado, you are not a good short seller or chat room stock basher because you cannot gain credibility. Your lies are amateurish - you don't even use data to muddy the water - you are simply making up garbage.
In order to be a good chat room basher, you need your lies to be less easily disproven. I'm actually trying to help you!
Seriously, you stink at bashing. And short selling, by the looks of things. Good luck to you.
Iirc, Hall said Otter had gas shows, and that the Rig 34 had a mud pump failure. They had to stop drilling due to weather. Putting a gas pipe to Otter won't be possible unless there is proven gas. They also need to hold the lease if there is indeed any gas.
At this point, the Otter pot may have quite a bit in it, and it only costs a few more chips to see the last card.
I'm here for the long haul.
Your posting are getting more bizarre. If you don't like the stock, don't buy it. If you think it will crash to $2, like you said before, then take out a short position.
Like all of the wells before, they will "announce" production whenever it makes sense to do so, having gone through any SEC hoops they need to, and by then will be preparing for the next well. Etc., etc., etc.
Short the stock if it makes sense to you.
Your information isn't reliable to the shorts. I've read your posts for months now, and you have never been accurate at predicting share price.
When are you going make money shorting this stock? It keeps bouncing in the same trading range, and all that does is create buying oppurtunities for the longs.
This company has great assets, and great potential, and all they need is to hit some more big wells to drive share price up, not down. The risk is to the upside only. They have enough financing in place to go on for years and years.
You predicted the past few wells would be losers, but they weren't. I think shorts are getting sick of your inability to come up with a good shorting strategy.
This is proof that said negative posters are either:
You know who you are - you must own up to either A, B, or C - but you must own up to one of them, because you OWN your statements.
Sentiment: Strong Buy
This is about North Fork. The pipeline is set up as a serperate company for tax purposes.
Yes, Miller is financially fit. I've been watching these short selling clowns for four years now. They come and go.