Uk Oil & Gas Share Discussion Threads

[murphyl] 18/4/2016 10:55

DATAIT,You are a first class idiot, with your constant posting, You have nothing to offer this board ,so would you ever just f-off,

[datait] 18/4/2016 10:47

There should be more news very soon.

[datait] 18/4/2016 10:47

Many would have sold in the hope to buy cheaper and they are going to be very disappointed as this will start to move up soon. Mm's know what they are doing and are playing this very well.

[datait] 18/4/2016 10:42

Watch as we go into the afternoon this will be well up folks.

[hazl] 18/4/2016 10:24

I'm saying nothing football .....8-)

[hazl] 18/4/2016 09:40

not just oil worrying them over there at the moment from what I've read.....

[football] 18/4/2016 09:36

If I was the Saudi government with all the cash they have splashing about I would be buying ukog and just mothballing it and making the UK even more dependent on their oil

[hazl] 18/4/2016 09:30

CHART seems to be turning up

[hazl] 18/4/2016 09:28

Typical scare tactics.

Saudi Arabia thing affected oil p for now.

Things change,by the minute
imo

[funkmasterp12] 18/4/2016 09:17

"if its such a good thing lets see if the bod or Lennigas dig into their pockets for a change a and buy shares in Ukog"

They may be waiting to take some in a placing.

[robbie1424] 18/4/2016 09:14

Ukog had Angus over a barrel as they were very much struggling.
They are a private company and needed the above sale desperately.

This is a good move by Ukog.

I did say last week they would up their stake in HH.

Also they have been pro-active in sending Lenny to America to speak to companies who deal with these sort of plays on a daily basis to glean more knowledge about HH play.

I'm long here but Ukog will now place as I said last week.

The next few months should be interesting as if this is a very good find we should start to see government intervention by quickly processing longer term flow tests.

Ukog must really believe in HH and it will turn out to be the bargain of the century or Ukog will be bust inside 2-3 years.

Its what oil and gas is all about.

At present they have thrown all their eggs into one basket and sounding a little desperate from that rns.

I'm long but say it as I see it.

Interesting times ahead.


Just a though- if its such a good thing lets see if the bod or Lennigas dig into their pockets for a change a and buy shares in Ukog as that's the only way peeps and the market are gonna believe HH is gonna be a gusher .

[moneymunch] 18/4/2016 08:49

Proactive Investor

UKOG ups stake in Horse Hill as EY extols UK’s new onshore oil play

07:58 18 Apr 2016

Stephen Sanderson, UKOG CEO, said it was a ‘logical step’ and highlighted it is part of an ongoing strategy to consolidate and expand the company’s position in the significant new oil play.

The Horse Hill well site, located within miles from London Gatwick airport
Horse Hill has potential to generate ‘significant economic value’, EY says

UK Oil & Gas Investments Plc (LON:UKOG) has agreed a deal to increase its interest in the Horse Hill oil discovery, near Gatwick airport, up to 27.3%.

The company has struck a deal to acquire Angus Energy’s 7.8% stake in the project for £1.8mln paid partly (£1mln) in cash and partly in shares.

Of the cash, some £200,000 will be paid directly to the HHDL operating vehicle to meet the seller’s cash calls relating to the recently completed flow testing operations.

Earlier this year, the flow testing at Horse Hill measured aggregate flows amounting to 1,688 barrels of oil per day from three separate zones in the vertical exploration well.

Stephen Sanderson, UKOG chief executive, described the deal as a ‘logical step’ and highlighted that it is part of the AIM quoted company’s ongoing strategy to consolidate and expand its 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,” Sanderson said.

“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.”

He added: “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."

With today’s deal UKOG will own a 42% beneficial shareholding in HHDL, the operator and 65% stakeholder in Horse Hill. Its shareholding equates to a 27.3% interest in the underlying project.

In a separate statement, UKOG highlighted a new report authored by EY – the 'big four' accountant formerly known as Ernst & Young – which has assessed the potential impact of the Kimmeridge oil discovery that was confirmed in the Horse Hill well.

The oil play could, according to EY, provide between 4% and 27% of UK oil demand at its ‘peak production’.

It could add between £7.1bn and £52.6bn of gross value to the UK economy, EY adds, and between 1,000 to 5,000 new jobs could potentially generated over the project’s lifespan.

The ‘lifetime̵7; tax revenues were estimated by EY between £2.1bn to £18.1bn.

"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,” EY said.

"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.”

[moneymunch] 18/4/2016 08:45

Of course that what Angus plans were, but that was before the results from the high quality oil flowing freely from the Kimmeridge limestones, Angus now have more than enough cash to drill deeper into the Kimmeridge, which will now be undoubtedly their new plans/objective. gl ;-)

[beebong1] 18/4/2016 08:31

moneymunch
Angus have planned a 450 metre side-track well at Brockham according to the RNS's and in the interview given by Angus just before xmas. No plans were mentioned of drilling into the Kimmeridge.
Brockham like Collendean-1 well is also on the wrong side of the fault line. Just because we hit a stunner with HH-1 what is to say the next well in the Weald will be the same and not a duster? As other oil companies have found, you can drill another well within 200m of a producing one and hit a duster.

According to Companycheck Angus held 17% of HHDL. Only 12% (Angus' remaining 12% shareholding in Horse Hill Developments Limited ) is accounted for so by my calculation there is 5% of HHDL unaccounted for.

companycheck.co.uk/company/08808553/HORSE-HILL-DEVELOPMENTS-LTD/group-structure

If it smells like fish!!!

[moneymunch] 18/4/2016 08:30

Lol orinocor, the deal allows Angus to develop nearby Brockham where they hold the majority stake, which is already producing oil from the Portland. They now have enough cash to drill into the Kimmeridge to replicate HH's stunning success. Ukog also retain a stake at Brockham and the deal would have been worked out weeks ago.....a win win for all concerned, especially for Ukog who now own 27% plus of the potential billion barrel free flow. gl ;-)

[datait] 18/4/2016 08:28

Mm's trying to get as many shares as possible. I am certainly not selling this will be well up in time hold tight if you want to make a huge amount of money.

[hazl] 18/4/2016 08:27

which should tell you something.orin...people see value,in my opinion.

[wisteria2] 18/4/2016 08:27

EEErrrr yes you are...


DATAIT
18 Apr'16 - 08:21 - 3088 of 3093 0 0


One thing for sure if you have sold your not getting in cheaper.

[orinocor] 18/4/2016 08:24

The UKOG share price should be tanking here. UKOG's share is only worth £6.3M, if 7.8% is worth £1.8M.

[markycrispy] 18/4/2016 08:22

dont be surprised if this ends up down on the day - just relax all its a long term play

[datait] 18/4/2016 08:22

Now the sellers have gone buyers coming back in. Now watch as the shorts start to close out.

[moneymunch] 18/4/2016 08:21

Stephen Sanderson, UKOG’s executive chairman, said: “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.”