Global Petroleum Share Discussion Threads

[emptyend] 18/10/2017 11:08

If there is a CPR and a plan to spend, say, $5mn on 3D.....and the Italian licences come through as expected.....then buying GBP looks a cheap option for a larger company able to stand their corner for a chunk of drilling costs.Gemsbok is a 200 sqkm structure.....and there aren't too many of those.

[mally6] 18/10/2017 10:59

Bunch of foul mouthers here get a life u miserable loners

[mally6] 18/10/2017 10:58

Ok just bought in now cant believe the drop blue to red

[gamesmaster] 18/10/2017 10:28

How 3d seismic costs?

answer


do they have the money for that? No

[gamesmaster] 18/10/2017 09:51

Look at the bad moosie .

swearing, gambling, lying


mally618 Oct '17 - 09:29 - 2081 of 2088 0 0
Guys gbp about to blow
F.off boom

[casano] 18/10/2017 09:27

Why you posting here...head over to IOG board

[boom boom bang bang] 18/10/2017 09:16

IOG Breaking out







Guys iog starting to move 13% up


11% so
>

[boom boom bang bang] 18/10/2017 09:03

Guys iog starting to move 8% up

Material news this year




Independent Oil & Gas PLC LOI signed with Key Contractor ODE

18/10/2017 7:00am
UK Regulatory (RNS & others)

Independent O&G (LSE:IOG)
Intraday Stock Chart
Today : Wednesday 18 October 2017

Click Here for more Independent O&G Charts.
TIDMIOG

RNS Number : 8810T

Independent Oil & Gas PLC

18 October 2017

18 October 2017

Independent Oil and Gas plc

LOI signed with Key Contractor ODE

Independent Oil and Gas plc ("IOG" or the "Company"), the development and production focused Oil and Gas Company, is pleased to announce that it has signed a Letter of Intent ("LOI") with Offshore Design Engineering Limited ("ODE") to perform several key contractor roles for its Blythe Hub and Vulcan Satellites Hub development ("the Project"), starting with technical and operational support ahead of Final Investment Decision ("FID").

Highlights:

-- ODE to provide extensive technical and operational support to IOG in both pre- and post-FID stages to deliver the Project into production

-- ODE to be the Operations & Maintenance service provider
-- Pre-FID costs to be fully deferred and pre-First Gas costs to be 50% deferred until first gas, thereby reducing IOG's funding requirements

-- LOI further strengthens IOG commercial model with ODE as a key contractor incentivised to deliver first-rate performance

ODE will be responsible for the operational management of all IOG's assets and for the Thames Pipeline and network of in-field pipelines, with IOG continuing to be 100% Licence Owner and Operator for all assets in the Project. It is also intended that ODE will be the Operations and Maintenance contractor upon first gas, hosting IOG's onshore operational base at its facilities in Great Yarmouth, close to the Bacton terminal. The pre-FID technical and operational support work is due to start immediately while contract terms are being finalised.

Mark Routh, CEO and Interim Chairman of IOG commented:

"We are very pleased to be working with ODE who will be a trusted partner in IOG's Blythe Hub and Vulcans Satellites Hub development. ODE has a wealth of relevant experience and manages several fields for other Operators in the Southern Gas Basin of the UK North Sea, so we will benefit from synergies with their existing operations. In line with our commercial model, the cost deferrals also tangibly improve IOG's funding position both before and after FID.

This LOI reflects the team's continued strong progress with the IOG gas portfolio. We look forward to finalising the contract with ODE and agreeing similar terms with other key contractors to continue delivering our gas hub strategy."

ENDS-

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Enquiries:







Independent Oil & Gas PLC CPR Confirms Significant Reserves Upgrade

12/10/2017 7:00am
UK Regulatory (RNS & others)

Independent O&G (LSE:IOG)
Historical Stock Chart
1 Month : From Sep 2017 to Oct 2017

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TIDMIOG

RNS Number : 3782T

Independent Oil & Gas PLC

12 October 2017

12 October 2017

Independent Oil and Gas plc

CPR Confirms Significant Reserves Upgrade

Independent Oil and Gas plc ("IOG" or the "Company"), the development and production focused Oil and Gas Company, is pleased to announce the results of a Competent Person's Report ("CPR") on the Vulcan Satellites, Blythe and Elgood assets by ERC Equipoise Limited ("ERCE") as at 1 October 2017.

Highlights:

-- CPR confirms 2P gas Reserves of 303 BCF (54 MMBoe), previously 34 BCF, in IOG's UK Southern North Sea ("SNS") gas portfolio

-- 2P Reserves classification applied to all of IOG's development assets: the Vulcan Satellites, Blythe and Elgood

o Vulcan Satellites 2P Reserves of 248 BCF

o Blythe 2P Reserves of 33 BCF, in line with 2013 CPR

o Elgood 2P Reserves of 22 BCF

-- CPR estimates a 2P peak production rate in excess of 200 MMcfd (c. 35,000 Boe/d)
-- Significant prospective resources in Harvey to be published in a forthcoming separate CPR
CPR Process:

During 2017, IOG built its own proprietary static geological model based on interpretation of the reprocessed 3D seismic available from multiple surveys across the whole SNS portfolio. This resulted in a robust and consistent estimation of the gas in place volumes in all the Company's SNS gas assets. This was followed by dynamic reservoir modelling and optimal well design and placement, including hydraulic stimulation modelling for the Vulcan Satellite fields. This in turn enabled the development of production forecasts for each field. ERCE reviewed IOG's proprietary subsurface work, production forecasts, costs and economic assumptions. ERCE then made its own independent assessment of the recoverable Reserves from the portfolio, the project development and operating costs and the resultant economics as summarised below.

The CPR presents the economic Reserves and valuation of IOG's five development fields as at 1 October 2017 using data and information available up to 30 September 2017 and applying the PRMS standard. The table below shows the CPR estimates of Reserves and Net Present Values, both undiscounted and discounted at 10% ("NPV(10) ") for IOG's 100% interests in the fields.






NEWS DUE IN THE NEXT FEW DAYS, LAST UPGRADE SHARES WENT UP 100% LAST WEEK


n addition, we shortly expect to receive a further CPR on the Harvey structure which provides very material upside to our portfolio."

[emptyend] 18/10/2017 08:57

" greatly improved the chance of a major oil discovery".......will be very interesting to see the CPR numbers and the farmout plans......

[charlie] 15/10/2017 17:47

Contrary to my post above, I have now received papers to vote the shares covered my Depositary Interests. I don't recall receiving this in previous years. Looks like I should vote against the Remuneration Report.

[charlie] 21/9/2017 21:18

I bought my "shares" on AIM and therefore hold Depository Interests. Depository Interest holders represent 29% of the underlying shares (p47 of accounts). Is there any way to give instructions to vote Depository Interests?

The only option I can see (per para 7 of Aim Admission Appendix dated 2005) would be to convert my Depository Interests to shares, and then vote the shares. But this is laborious, because I'd need to convert the shares back to Depository Interests to sell them on AIM.

[charlie] 21/9/2017 21:17

See Note 12.5 on p14 of Account 2017.

At last AGM more than 25% of votes cast were AGAINST the Remuneration Report. (Persons receiving remuneration cannot vote on this, so not Blakey, Taylor et al).

Under Australian corporate law, this is a "first strike."

If it happens again at this year's AGM, this is a "second strike." This triggers a "spill motion", ie to remove all the directors.

Note 12.5 in effect gives 2 fingers to shareholders. Says that the directors intend to tough it out. A spill motion would require 50% of votes cast to pass, so may not pass even after a "second strike."

[squibno1] 20/9/2017 11:42

these shares are going nowhere with the lethargic guys in charge. It must be an effort for them to draw their pay.

[nesty1760] 19/9/2017 22:17

Upon a decent seismic Survey, 5p surely the bare minimum.
This share is very tightly held and it moves very fast on any buys.
If a great RNS you probably be straight locked out of any of these prices as a gap up will most certainly be formed.
If anyone wants these prices have to buy pre RNS.

[emptyend] 18/9/2017 23:14

Heading for 4p+?

[nesty1760] 15/9/2017 00:44

Becoming onto peoples radar very soon.

BOD own 42% of shares. Heavy skin in game.

Low free float - Moves very quickly, either way. A lot of shares in sticky pi hands.

Undervalued - Cash equivalent is 3.5 / 4p. The current share price is 2.7P.

Seismic Survey data which completed in July to be released end of Sept. targeting a over a billion barrels in Naimbia offshore. (Probably be before, as GBP do sometimes deliver ahead of schedule).

If results very encouraging can see minimum of 7.5p here maybe more.

Very undervalued.

[nesty1760] 14/9/2017 23:30

I can see this moving very sharply in the coming sessions. Very undervalued.

[ohisay] 14/9/2017 06:09

Namibia PEL 37 – Multiple 3D defined, large oil targets

Multiple 3D Defined Prospects and Leads in Typical
West Africa Play setting
• Multiple Large 3D Defined Targets analogous to typical West African Plays.
• Subject of ONGC Videsh farmin for 30% in July 2017.
• Subject of Africa Energy buy in September 2017, approx A$10 MM (US$7.7 MM) in two stages for equivalent 10% interest. Initial A$2.8MM (US$2.2MM) paid to PCL.
• On trend from block subject of oil giant Total farmin, August 2017.
• Independently assessed recoverable oil potential, unrisked Best Estimate Prospective Resources net to Pancontinental effective 20% interest for best 4 targets = 183MMbbl.
• Cormorant Prospect 120 km²
• 124 MMbbl potential
• 3D seismic amplitude defined.
• Discrete Base of Slope Submarine Fan.
• Sourced from projected mature oil source.
Just concluded investment by Africa Energy into Pancontinental
subsidiary holding the asset, acquiring 33.33% for US $ 7.7 MM
places cash value of PCLs remaining position at about A$20MM.

[ohisay] 14/9/2017 05:45

Africa Energy Acquires Interest in Namibia - more or less next door to GBP license.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 13, 2017) - Africa Energy Corp. (TSX VENTURE:AFE) ("Africa Energy" or the "Company") announces the acquisition of one-third of the shares in a subsidiary of Pancontinental Oil & Gas N.L. ("Pancontinental") that holds a 30% participating interest in Petroleum Exploration Licence 37 ("PEL 37") offshore the Republic of Namibia.
Garrett Soden, Africa Energy's President and CEO, commented, "We are pleased to partner with Pancontinental for an effective 10% interest in PEL 37 offshore Namibia. This transaction completes the discussions we began some time ago and demonstrates our commitment to this oil prone play. We look forward to the exploration well that may be drilled as early as next year."
Africa Energy paid Pancontinental US$2.2 million at closing and will pay an additional US$5.5 million upon spud of the first exploration well provided that certain commercial conditions exist on the spud date.

With so many partners incl Tullow and ONGC - just about guaranteed to be drilled next year i'd say

[happyholder123] 09/9/2017 10:57

HNR -
TWO wells successfully drilled with abundant oil and gas in samples extracted!
Fracking and FIRST OIL next month!
Don't miss this train!