Uk Oil & Gas Share Discussion Threads

[niceyman1] 22/6/2017 14:46

Will it end in cheers or tears?
Think the moment oil gushes we would know by the buying volumes. My gut feeling at moment is by the price movements is that not living up to Horsehill. I.m.o

[rayrac] 22/6/2017 13:45

Quite heavy buying if the figures can be believed. Perhaps someone has a friend who knows a friend...in Aberdeen? It could be a bit leaky up there!

Anyway, I'm looking for something to take my mind off proceedings...so that's why I'm spouting rubbish.👉
27999;🗣€567;🤒㈇7;🏽🔜

[moneymunch] 22/6/2017 13:13

...and hopefully show that the surrounding shale clay is fractured too, as witnessed at HH and Brockham, which will greatly increase the net target oil play, especially at 50 degree angle extending 1km horizontally from well bore. Exciting times indeed.....gl :')

Ps not sure if they plan to get to TD and send all the cores away at the same time for detailed analysis, or at the time when each one is retrieved...either way we should have another update imminently.....significant upside if oily. Gl:-)

[edgein] 22/6/2017 13:04

I guess they'll perhaps do the FMI too after coring but before drilling ahead.

Regards,
Ed.

[edgein] 22/6/2017 13:03

Ray,

It sure its, its now in the interesting part of the well. Fingers crossed there'll be plenty more wet gas and oil shows in these 4 target formations. Also the cores should show how fractured the limestones are at this location, as well as the formation micro-imaging etc.

Regards,
Ed.

[rayrac] 22/6/2017 12:42

Yes Ed, by Monday they should be well into the interesting stuff. As mm said, it's exciting times...long may it continue!

[edgein] 22/6/2017 12:31

Ray,

Yup that'll be core samples, I guess we'll get an update Monday saying coring complete, drilling ahead.

Regards,
Ed.

[rayrac] 22/6/2017 11:48

Well they sent something off to Aberdeen Ed. So perhaps they sent the wrong thing?😩

[edgein] 22/6/2017 08:38

Uxbridge,

They must have started coring on Wednesday then and the RNS didn't read like that to me, read more like they had reached the coring point and hadn't started coring. Commencing coring operations I take to mean, preparing the operations i.e. changing the LWD tool to coring tool, rather than commencement of coring.

Regards,
Ed.

[vitec] 22/6/2017 08:35

As usual Ed you are the voice of calmness and logic.

[uxbridgearms] 22/6/2017 08:34

Edgein
Big Dave yesterday recons the core sampling should be finished and drilling ahead through the kimberidge.

[edgein] 22/6/2017 08:25

mikey,

Calm down.

"When recovered to surface, the 100 ft cores will be transported to Aberdeen for initial rock sampling."

Cores means they're taking more than one 100ft core. They'll do this very slowly, they only updated 2 days ago that they were taking cores. I wouldn't be surprised if they spent beyond this weekend on the slow process of core retrieval with multiple trips in and out to carefully retrieve each core taken.

Regards,
Ed.

[moneymunch] 22/6/2017 08:23

I don't mind mikey, they could already be close to target depth and so a stellar Rns on Monday confirming a major oil discovery through the whole Kimmeridge interval with vertically connected limestones would certainly catch the traders out who aren't in by Friday's close....Gl.....Excitement building!!! ;-)

[mikeygit] 22/6/2017 08:07

I hope we are not kept waiting for news of Kimmerdige finds until after w/e!! I would have hoped by now that they would have been well into the Kimmeridge Limestones!! Certainly testing our resolve!!!

[moneymunch] 22/6/2017 08:07

Lots of lovely profit for Ukog Ray, regardless....at estimated extraction costs of $21 a barrel and 100% interest of every barrel. Gl ;-)

What is the Kimmeridge Limestone Play?

Four naturally-fractured, Kimmeridge Limestone reservoirs (KL1-KL4) - Regionally continuous over SE of UK ~1500+ sq miles - Encased in likely oil generative Kimmeridge shale (KCF)- Shallow: c.~800-1300m below ground surface

Presence of Kimmeridge oil demonstrated to date by: HH-1 flow tests: stabilised rate of 1365 bopd dry oil (2 zones: KL3, KL4)

Numerous wet gas and oil shows in legacy wells

To date, data supportive of likely “Resource” or “Continuous Oil Deposit” - Zero water production on test, no free water or oil water contacts interpreted on logs
- Nutech calculate oil saturations throughout KCF (1000-1800 ft thick) over ~1000 sq miles

Scale - ability: multiple wells per 3-6 acre site, multiple pads per licence

Low drillex and devex costs, potential for rapid investment payback


KL Development Concept: Possible Scale and Assumptions 100 million barrel reserve
potential from UKOG existing licences

Multiple wells in ~2 ha sites

Target Initial rate 1000 bopd per well (HH-1 1365 bopd)

Target recovery 1MMbbl/well

Production costs estimated @ ~ £17/bbl or $21/bbl

Horizontals and/or slant wells

Multiple completions and co-mingled production

Natural flow then pump (ESP)

[rayrac] 21/6/2017 22:07

Oil keeps falling, now below $45!

[rayrac] 21/6/2017 18:23

Btw, it appears they haven't sorted the feed problem! Still getting nothing on trades.

[rayrac] 21/6/2017 16:21

They must be well into the kimmeridge now. Let's hope it's oily? But do they have to send all the cores off to Aberdeen? And why send any there at all?!

Sends ya mad?

[mikeygit] 21/6/2017 15:49

MM--I hope you are right!! Charts are one thing--results of a drill are another. All very well sending core samples to Aberdeen for analysis, what we want is another Gatwick Gusher, which I hope the guys at Broadford will be experiencing very soon!!! GLA

[moneymunch] 21/6/2017 15:39

Probably because it bounced up c20% plus on no news. Gl ;-)

ps the Ukog chart couldn't look more inviting for a significant spike upwards on the back of a drilling update from BB tomorrow. Gl ;-)

[mikeygit] 21/6/2017 15:24

why is ALBA dropping towards 10% today?????

[mikeygit] 21/6/2017 15:23

Yep Ray--certainly squeaky bum time!!

[rayrac] 21/6/2017 15:05

Drop with a plop. Sounds better mikey?

There's a heck of a lot riding on this, I think there's at least six other companies that will feel the effects either way!

And I'm in at least five.👉ӿ99;😜😱;🤒🔜

[mikeygit] 21/6/2017 14:49

SP now been static for hours!! Lull before the storm?? Lets hope it is another gusher--if not share price will drop with a bang!!

[rayrac] 21/6/2017 10:55

I like it too!Gl