Jersey Oil And Gas Share Discussion Threads

[robo175] 24/7/2018 17:43

Come on bones what's your answer?, anyway the scaremongering certainly worked today.

[big brother8] 24/7/2018 17:40

Is it the same bones who was pushing Gulfstream at 70p with the now bankrupt Djanjo? hehe.I remember he was saying back to 400p

I shorter AFREN :(


why would Statoil make up a find? This is not a lot for them. I think he's confusing AIM O&G companies with biggies.

[ziblot] 24/7/2018 17:37

Statoil and partners have made an oil discovery in the Verbier sidetrack well in the outer Moray Firth on the UK Continental Shelf, proving a minimum of 25 million recoverable barrels of oil in the immediate vicinity of the wellbore.

[bones698] 24/7/2018 16:11

Resovoir size is determined by flow rates and drop off to determine resovoir size that's obvious but obviously not to fools on here . 3d data does not give oil in place and recoverable as fogl found out when oil miraculously turned into water . Without sustained flow rates and drop off calculations it's impossible to have the faintest idea of recoverable reserves . Lets not forget traps own experience of this with another miserably failed attempt at Athena .

I suggest you read them again as I'm pretty sure one said upto and the other stating it like it was a fact . I'm sure you can guess which was which .

Happy to watch this play out and fail miserably yet again . Can't believe so many folks have been suckered in on what can only be described as suspect information .

What's the saying a fool is easily parted with his money

[robo175] 24/7/2018 15:53

There pretty clueless when it comes to trying to deramp or put a negative spin on things.

[ziblot] 24/7/2018 15:43

Equinor's commitment; Our ability to create value depends on applying high ethical standards to create a trust-based relationship with our people, our owners, our business partners and our communities.
So whats the problem?

[cricket] 24/7/2018 15:02

well, Bones698, for a start flow testing is not used to estimate the reservoir size!!! 'Original in place volumes' as they are known
This is estimated by
The range of uncertainties in rock properties
Fluid saturations
Geologic interpretations and the resulting range in estimated in-place volumes.

You do, have a slight point when you say the two companies have spoken differently about Verbie. On that I will agree, but not for the reason you think.
If you read Equinor statements on Verbier, they state that there is at least 25 mill recoverable BOI , where Jog has been a lot more conservatively speaking about appraising the prospect before claiming it Recoverable!
is it not the case that they have decided to await the images from the survey before carry out this appraisal?

The thought that a major like Statoil (equinor) would invent a discovery is ludicrous, paranoid and without exception a stupid proposition!
If a huge company like this was in the business of making up discoveries then why have they reported duds in the past, and moreover why would they pay in advance for West Pheonix to return and drill again?

[royscot1] 24/7/2018 13:41

Bones698, do you have a link to this RNS which you cite show these differences? For one they aren't listed on London markets and they haven't posted made any announcements to the Oslo Stock Exchange where they are listed since 18.07.18 so I'm intrigued by your comments...

[ziblot] 24/7/2018 13:20

Thought something really bad had happened, just a hiccup. Nothing but timing has changed which we can't do anything about. Equinor pulling the strings so have to go along with their decisions.

[bones698] 24/7/2018 12:08

Trulynumptious
Please explain how anyone can know the recoverable reserves of a resovoir a week after it has been drilled ????
Without extended flow testing I find it impossible to believe this can be known but is rather a total guess. Given the fact they missed entirely with the original well and had to sidetrack I am questioning this for sure .
I suggest you read statoils RNs and compare it to jogs . The differences are there to be seen and point to some doubts over just what is there for a start imo

[robo175] 24/7/2018 10:58

The fiddler can't reply at the moment as he is in a school lesson.

[trulyscrumptious] 24/7/2018 10:52

the fiddler obviously doesn't understand the play here. For me if this went to £1 it would be like giving me money for nothing as I will buy more every time it goes under £2, let alone £1. Who cares if I have to wait another 2 or 3 months, JOG have oil and are likely to prove that they have a lot more than has been priced in.
I would love to buy more again at £1.50 or less but I doubt I will get that chance as most shareholders are not so stupid as to sell just because of a short delay. After all we are below the fundraising price at the moment.
bones698. Do you think Statoil made the figures up and are you in a better position to judge than those who took part in the placing? Or are you just trying to get in cheaply?
All the fun of the markets!

[hiddendepths] 24/7/2018 10:33

bullson1 - I guess it makes sense to wait for the preliminary results from the 3D. It would be galling to get the well drilled only to discover in a matter of days that it could have been located better. Thank you for the info about the four months to early results.

[bones698] 24/7/2018 10:23

Looks like the start of the negative news is on its way . Delays in drilling unless weather realted are not to be taken lightly and they will now be drilling in far worse conditions rather than at its calmest which begs the question why .
I never believed the initial well appraisal as it was issued without an extended flow test or others testing which would confirm the estimates . Also the wording between the rns's from the operator and jog were different . This is looking far more suspect imo

[bullson1] 24/7/2018 09:47

I also do not like delays, especially without naming the reason for it and wish this would be clarified by Equinor as operator. One theory for the 'likely' rotation of the drilling schedule I can think of has got to do with the 3D seismic program and I wanted to discuss this here...so please share your opinion! While we know that we get the final results of the 3d seismic end of q1 2019 PGS got a statement in their RNS saying that the first (not final!) images would already be available after 4 months through their fast track program. This would make it roughly October for the first results for Verbier which might be useful for the appraisal program as every little bit of data and images can be helpful for them to find that sweet spot for the appraisal well / sidetrack well. So as an operator one could argue it make sense to put Verbier at the end of the schedule and await these first sets of data from PGS. This would be a stratetic reason important enough to rotate or not? Apart from that I firmly believe that delays always got strategic or operational reasons and we got to trust the companies we are invested in / operators that they make the decision that is best for the campaign. The oil in the ground been there for millions of years...it will be there for another few months longer waiting for us! :) good luck all holders

[cpap man] 24/7/2018 09:44

Croasdalelfc24 Jul '18 - 08:35 - 511 of 512

UOG Investor evening tomorrow - 50 people attending



More than that by all accounts - standing room only now!

Bit like the stock itself the UOG investor presentation tomorrow night Wednesday 25th July 2018 in London is selling out FAST!!!!

[the_fiddler] 24/7/2018 09:40

Told you all. This goes back under 1 quid imo.

[the_fiddler] 24/7/2018 09:19

Prediction - how much you betting this gets sold off into close and is currently being day traded?

[kinkell] 24/7/2018 09:02

the_fiddler

filtered