Uk Oil & Gas Share Discussion Threads

[theuniversal] 18/4/2016 07:41

Money munch would an irr report stating recoverable oil from 492mill barrels to 1.4bn affect the share price higher or lower?..

[moneymunch] 18/4/2016 07:34

Lol funky, the only whiff is from the underpants of those that are short....Two fantastic Rns's demand full market appreciation. Gla longs Onwards and Upwards!!! ;-))))

[m0rrisminor] 18/4/2016 07:34

Fantastic report what a great boost to all the consortium holders ,I bet the pizza a boy tw is feeling rather foolish Gla.

[moneymunch] 18/4/2016 07:32

My mistake mug3, the point is Angus owns enough of Brockham a few km's from HH. They are now fully funded to drill into the Kimmeridge at Brockham. gl ;-)

[funkmasterp12] 18/4/2016 07:29

From the RNS:"Furthermore, GBP200,000 of the cash element will be paid directly by Angus to the Licence Operator, HHDL, to reconcile cash calls for the now completed HH-1 flow test operations."So there were debts outstanding which Angus have to settle? This is starting to whiff a bit...

[mug3] 18/4/2016 07:26

Money munch - Doriemus owns 20percent of Brockham. So how can Angus own 90. I think they only own like 50%. Plus remember UKOG owns nearly 10% of Angus.

[funkmasterp12] 18/4/2016 07:25

The EY report is only going off the data the company has issued though. They've extrapolated their tax numbers etc from what the company has told them. It's like me telling my accountant to work out tax if I made £2,000,000 this year. Great, but I might make only £200,000.I'm not really sure what this report really adds in that case. It's clearly not independent and carries no further proof the oil is commercial to those levels.

[moneymunch] 18/4/2016 07:24

The Angus deal, was a done deal weeks if not months ago........they have a large swathe of Kimmeridge limestone at Brockham which they can now target. Gl ;-)

[moneymunch] 18/4/2016 07:20

E&Y state

Kimmeridge Limestone Oil - Economic Impact Highlights:

-- Future peak oil production could provide approximately 4% to 27% of 2014 UK daily oil demand over the life of the project

-- The Gross Value Added to the UK economy could range from GBP7.1 billion to GBP52.6 billion

-- Generation of between approximately 1,000 to 5,600 jobs in the UK, averaged over the project's lifetime

-- Lifetime tax revenues of between GBP2.1 billion to GBP18.1 billion

[funkmasterp12] 18/4/2016 07:18

I agree it's great for UKOG if there's anything of note in there, but that doesn't make any sense to me. Also note they've only stumped up £1m in cash. The inevitable placing will have to come soon.That said the EY report, though caveated and clearly paid for by UKOG, does read well in places. Which makes it even more baffling why Angus would sell for such a miserly amount.

[moneymunch] 18/4/2016 07:15

Lo funky, Angus have 90% plus of Brockham a few Km's away, they need the cash to drill into the Kimmeridge....makes pefect sense and is great for Ukog. Gl ;-)

[moneymunch] 18/4/2016 07:10

ONWARDS AND MOST DEFINITELY UPWARDS.....gla lucky ones!!! ;-))))

[funkmasterp12] 18/4/2016 07:09

So Angus sold 8% for £1.8m despite there allegedly being over £1bn revenue in there? Hmm..

[moneymunch] 18/4/2016 07:07

8/04/2016 6:01am
UK Regulatory (RNS & others)

UK Oil & Gas (LSE:UKOG)
Intraday Stock Chart

Today : Monday 18 April 2016
Click Here for more UK Oil & Gas Charts.

TIDMUKOG

RNS Number : 4442V

UK Oil & Gas Investments PLC

18 April 2016

UK Oil & Gas Investments PLC

("UKOG" or the "Company")

Impact of Kimmeridge Limestone Oil on UK Economy: EY Report ("the Report")

UK Oil & Gas Investments PLC (London AIM and ISDX: UKOG) has today released a commissioned Report, authored by EY, a global leader in assurance, tax, transaction and advisory services, which assesses the economic impact and benefits of future Kimmeridge Limestone oil production projects over the Weald Basin. The Report highlights the significant positive contribution to the UK economy, jobs and energy security that could result from this new potential oil production. EY's analysis builds on the recent highly successful oil flow tests from the Kimmeridge Limestones at the Horse Hill-1 ("HH-1") oil discovery, in which the Company has a 27.3% interest.

It should be noted that the Report is solely in relation to the potential extraction of oil from the two main Kimmeridge Limestones over the entire Weald Basin and is not an assessment of the Company's own 11 individual licence interests in the Weald.

Kimmeridge Limestone Oil - Economic Impact Highlights:

-- Future peak oil production could provide approximately 4% to 27% of 2014 UK daily oil demand over the life of the project

-- The Gross Value Added to the UK economy could range from GBP7.1 billion to GBP52.6 billion

-- Generation of between approximately 1,000 to 5,600 jobs in the UK, averaged over the project's lifetime

-- Lifetime tax revenues of between GBP2.1 billion to GBP18.1 billion

The Report:

Over the past decade, North Sea production has declined to the point where the UK is forecast to import over 50% of its daily oil demand by 2020. In this context, and following the HH-1 flow tests, EY have now produced a detailed analysis of how the extraction of oil from the Kimmeridge Limestones in the Weald could help arrest the decline of indigenous oil production and strengthen the UK's long-term energy security.

EY's economic impact forecasts utilised the Company's internal assumptions on production rates for a multiple horizontal well production site, together with Xodus Group's conceptual multi-well site development study and Nutech's calculated oil in the ground and likely oil recovery factors. These external studies were previously reported by the Company. The assumptions on individual production well performance were made prior to the unexpectedly high HH-1 flow test results, as first announced on 16 February 2016.

The EY Report states:

"The development of Kimmeridge Limestone Oil in the Weald Basin, assuming it can be extracted from a development site at the volumes projected by UKOG, has the potential to generate significant economic value to the UK economy, partially off-set the decline in oil production from UK fields, support employment, and generate significant tax benefits to the exchequer.

"These benefits will be maximised via the development of a UK-based supply chain, and through a series of targeted policies and initiatives to appropriately mitigate potential barriers to development.

"Conceptual studies and oil in place estimates previously conducted suggest a significant opportunity for the UK to secure a proportion of its energy from the Weald Basin."

Click here to view the full EY Report.

Stephen Sanderson, UKOG's Executive Chairman commented:

"This Report confirms UKOG's view that the development of Kimmeridge Limestone oil in the Weald Basin can make a very significant contribution to the economy, employment and energy security of the UK.

The Report's conclusions are given credence by the recent results of the highly successful Kimmeridge Limestone flow tests at the Horse Hill-1 oil discovery. The tests demonstrate that significant volumes of high-quality light oil exists within the Kimmeridge Limestones and can flow naturally to surface at commercial rates.

The unexpectedly high aggregate flow rate of over 1365 barrels per day ("bopd") from Horse Hill's two Kimmeridge Limestones far exceeds the study's modelled peak flow rate of 400 bopd per horizontal well. It is, therefore, possible that the overall economic impact of Kimmeridge Limestone oil could be significantly higher than this initial Report describes."

The full EY Report and a summary Infographic are available on the Company's website: at www.ukogplc.com.

About EY:

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services delivered help build trust and confidence in the capital markets and in economies the world over.

EY develops outstanding leaders who team to deliver on promises to all of its stakeholders. In so doing, EY plays a critical role in building a better working world for its people, for clients and for communities.

EY refers to the global organisation and may refer to one or more of the member firms of Ernst & Young Global Limited.

[moneymunch] 18/4/2016 07:05

18/04/2016 6:00am
UK Regulatory (RNS & others)

UK Oil & Gas (LSE:UKOG)
Intraday Stock Chart

Today : Monday 18 April 2016
Click Here for more UK Oil & Gas Charts.

TIDMUKOG

RNS Number : 4528V

UK Oil & Gas Investments PLC

18 April 2016

UK Oil & Gas Investments PLC

("UKOG" or the "Company")

UKOG buys Angus Energy's stake in UK's Horse Hill -1 Oil Discovery

UK Oil & Gas Investments PLC (London AIM and ISDX: UKOG) announces that it has acquired all of Angus Energy Holdings UK Limited's ("Angus") remaining 7.8% interest in onshore Weald Basin licences PEDL137 and PEDL246 ("the Licences").

The Company has significantly increased its net working interest in the Licences from 19.968% to 27.3%. The Licences, covering an area of 55 square miles, contain the new Horse Hill-1 ("HH-1") Portland sandstone and Kimmeridge Limestone oil discoveries north of Gatwick Airport and which, as previously reported on 21 March, flow tested at a significant "North Sea-like" commercial aggregate stable dry oil rate of 1688 barrels of oil per day.

Transaction Summary

For a total Consideration of GBP1.8 million, the Company will receive Angus' 7.8% beneficial interest in the Licences via the purchase of Angus' remaining 12% shareholding in Horse Hill Developments Limited ("HHDL"). The Consideration, with an effective date of 15 April 2016, is comprised of GBP1 million in cash and GBP0.8 million in the form of 43,886,116 UKOG ordinary shares. Furthermore, GBP200,000 of the cash element will be paid directly by Angus to the Licence Operator, HHDL, to reconcile cash calls for the now completed HH-1 flow test operations. The transaction requires no further regulatory approvals.

Application will be made for these New Ordinary Shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on or around 22 April 2016.

Following Admission, the Company's enlarged issued share capital will comprise 2,087,336,802 ordinary shares. The Company does not hold any shares in treasury. This figure of 2,087,336,802 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

HHDL and the Company's Interest in the Licences

HHDL is a special purpose vehicle which owns a 65% working interest and operatorship of the Licences. The Company now holds a 42% beneficial shareholding in HHDL which equates to a 27.3% net working interest in the Licences. The remaining 35% interest in the Licences is owned by Magellan Petroleum UK Limited.

HH-1 Discovery Well Location and Licence Location

The HH-1 well is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport. PEDL246 lies adjacent to and immediately to the East of PEDL137. UKOG owns a 27.3% interest in the Licences.

Stephen Sanderson, UKOG's Executive Chairman, commented:

"Following the recent highly significant HH-1 flow test results this acquisition is an important and entirely logical step for the Company. It provides us with a far more material interest in the exciting HH-1 Portland and Kimmeridge limestone oil discovery, and importantly, is part of our ongoing strategy to consolidate and expand our licence position in the new and potentially significant Kimmeridge Limestone oil province.

With our increased interest in Horse Hill we will be looking hard at translating the commercial flow rates seen from the Kimmeridge and Portland flow tests at Horse Hill - 1 towards commercial production. To this end, further long-term production tests of all zones are now planned by the Horse Hill Licence holders within the next year, subject to regulatory approvals. These tests are planned to be followed, by a number of horizontal Kimmeridge Limestone side-track wells, 3D seismic and a new stand-alone Portland appraisal/development well.

The next year to 18 months will be an exciting journey for both the Company and the new Kimmeridge Limestone oil play. We know HHDL are committed to putting the Horse Hill Portland and Kimmeridge zones in to long term production as soon as practicably possible."

[moneymunch] 18/4/2016 06:23

Brent at $41.37 and rising....gla ;-)

[temmujin] 17/4/2016 23:42

looks like the LSE crew are going to plunge heavily into ascent resources at 8am...apparently permit granted to pump the gas

[moneymunch] 17/4/2016 21:32

ps you can't blame Iran for their stance....

Iran has said it supports the freeze but would not join it until it raises its output and market share to their pre-sanctions levels.......which is understandable from an Iranian point of view imho, they know ultimately that the price of oil will recover, they've got lots of oil , but they need the revenue/cash now regardless and want to gain market share in the West as well as China, India etc.......if they freeze production now, they can't expand their market share and their cash flow would be reduced. gl ;-)

[moneymunch] 17/4/2016 21:29

Exactly football, tell that to numptieminor.....any negatives from Doha will have little impact on Ukog's share price imho ( the price of oil will recover sooner or later ), a slight drop if no news from HH, but with the Nuctech/ Xodus reserves OIP upgrade and estimation of recoverable volumes about to drop, the momentum will be upwards in anticipation/speculation. ........a significant bounce on a positive Rns, and then the Ernst and Young economic study on the Kimmeridge and its national significance, very likely to follow soon afterwards, could see a major re-rating as all in sundry rush in on front page headline news, and a mention or two no doubt by Cameron and Osborne et al. Good Luck, very exciting times for all invested. ;-)

[football] 17/4/2016 21:23

moneymunch news is news good or bad