Solo Oil Share Discussion Threads

[c31161] 21/3/2016 17:00

The Gatwick Gusher has produced the highest flow rates of any onshore wildcat well in the UK matching the kind of levels normally seen in the North Sea, its majority owner UK Oil & Gas said today.The exploration company said it had completed its final test at Horse Hill, just north of Gatwick Airport, and that the aggregate flow from three layers of oil-bearing rock had been 1,688 barrels per day. "The flow test results are outstanding, demonstrating North Sea-like oil rates from an onshore well," said UKOG executive chairman Steve Sanderson. "This simple vertical well has achieved an impressive aggregate oil rate equivalent to 8.5% of total UK onshore daily oil production.""We are delighted, therefore, that this discovery has the serious prospect of being a meaningful addition to the UK's own supply of oil in a period where North Sea production is declining more rapidly than expected."He said that the final tests, from the Portland sandstone level, had actually been limited because they hit the well pump's maximum capacity limit.He also said that planned future drilling horizontally rather than just vertically could also significantly increase the rate of flow. UKOG said it had commissioned Nutech and Xodus, oil engineering consultants, to provide estimates of how much oil may be recoverable from the reservoirs.Previous studies have suggested that there are reserves of around 10 billion barrels under Horse Hill. Sanderson said: "These results cause us to rethink and recalibrate many prior geological assumptions."Nutech will now reinvestigate the presence of significant natural fracturing and oil in place figures for both the Portland and Kimmeridge units given that all flow periods produced 100% dry oil."During the tests the Horse Hill well delivered 1,940 barrels of so-called "light sweet oil" to Esso's Fawley refinery.Shares in UKOG and its associated investors in Horse Hill, Solo Oil, Alba Mineral Resources, Doriemus, Evocutis, Regency Mines and Stellar Resources, mainly dropped slightly on today's news.UKOG shares, which hit 4.75p at the peak of Gatwick Gusher excitement a year ago, were unchanged at 2.4p.More about: Gatwick oil find 9

[billy_buffin] 21/3/2016 10:01

Horse Hill RNS today...

The one thing that is missing is there is no mention in this or any other HH RNS of NET PAY of the zones which imo is the most useful factor for how much the well could produce and for how long. Every find by other companies includes net pay why not UKOG et al?

Gross pay quoted only and means nothing as it includes non-commercial zones.

[barony] 21/3/2016 08:38

Fantastic!! Now look for the increase OIP for this well and possible re-rating out of sub 1p. Next, news on income for K1, Ny and licence round in Nigeria.

[m0rrisminor] 21/3/2016 08:28

Fantastic news and commercial to boot don't worry about the fluxation of the the share price ,now it will be in the cross hairs of a major soon enough . Even the shorters are gutted come give us your wrecking ball now.

[y1phr] 21/3/2016 08:18

Sp will go down.

[paulhgreen] 21/3/2016 08:10

so now what ?????????????

[kaisersuzae] 20/3/2016 23:19

Ukog tweet 1700 bpd combined - rns coming

[football] 18/3/2016 16:58

it's code for next week!


1 red top ,1 gold top and 14 simi please

[doerx2] 18/3/2016 16:36

1,1,14. Wtf

[y1phr] 18/3/2016 13:28

Maybe the tide is turning.

[doerx2] 18/3/2016 13:21

Not 1 sell ????

[y1phr] 18/3/2016 10:24

Looks like kids inheritance, FOOTBALL.

[football] 17/3/2016 14:20

6.5% of this and still the share price does FA

[lfdkmp] 16/3/2016 10:13

Not sure about that. AEX share price is hardly motoring either.

[simon8] 16/3/2016 10:09

it is frustrating watching this go south given both HH and Tanzania; Again stuck with significant loss, more fool me for topping up but this will go much higher eventually.

HH - we all know this is now going into retrace mode and that is to be expected given news flow will be dry pending evaluations and review of development options - 12 - 18 months before production I reckon.... people esp traders will get bored and move on

Tanz - gas revenues soon...looking good, this should be underpinning the share price but it's not...WHY? Because we have a discredited CEO who most in city would not trust with a penny let alone a company...it is the big draw back here, get shot of NR and you will probably see a real change in fortunes for Solo's SP!

[football] 16/3/2016 09:35

Come to think of it if we had Donald Duck as a new leader the share price might be higher

[football] 16/3/2016 09:23

If we had Donald Trump as our new leader the share price would be a lot higher come to think of it, it can't get much lower can it?

[chrisc168] 16/3/2016 07:29

Only have 10%, how much revenue will it bring in each month to this company?