Uk Oil & Gas Share Discussion Threads

[datait] 19/4/2016 09:34

One thing for sure the reports are not far away.

[datait] 19/4/2016 09:31

This has been taken down to get their mates in cheaply watch this space folks its going to shoot upwards and this is not tramping its fact.

[datait] 19/4/2016 09:29

Thats true vitec and its only a matter of time before the media wakes up and takes this upwards big time.

[datait] 19/4/2016 09:27

what a steal lol

[vitec] 19/4/2016 09:16

I am a long term holder. I have been hearing this about the reports etc and how it is going to propel the share price I wouldn't be holding if I didn't think it was going to make me a profit. However, it seems that the expectation time frame is in days rather than months and years. The share price is not going to get any real traction until the market understands the opportunity. Unfortunately, previous ramping may have turned off many in the City and they will only wake up when the share price is in full upward mode. Think of it in the same way as drilling one side of the fault line and finding nothing and then someone else comes along and drills the other side of the fault line and finds loads of oil!!

[datait] 19/4/2016 09:10

Just wait till the reports news hits you will see fire works big time and them who sold will be kicking themselves and them that snapped up the shares at a steal will be loving it.

News tends to come in quickly after one another.

[datait] 19/4/2016 09:08

mm's are trying to fill the demand.

[datait] 19/4/2016 09:06

mm's have taken this down to create huge demand and its working so watch this spike.

[datait] 19/4/2016 09:05

The demand is huge you watch this space you will have many selling in hope to buy cheaper but they are making a big mistake on this one.

[vitec] 19/4/2016 09:03

The name Market Maker is what they do, make a market. They don't buy shares speculatively. They buy and sell according to the demand or lack of demand and make their margin on the difference

[datait] 19/4/2016 09:01

Once these reports are out 2p even 5p will be a thing of the past, wont be long before this is double figures.

[datait] 19/4/2016 08:58

Tree shake before it zips upwards

[hazl] 19/4/2016 08:28

yes hope I don't miss the event lol

[datait] 19/4/2016 08:25

Yes moneymuch and when that news comes out thats when this will surch and I would expect that to come out at anytime during the day I dont think that news will wait for a 7am release. Will catch shorters by surprise.

[hazl] 19/4/2016 08:24

Might be difficult for me to get to the computer so much today.........

so keep it warm for me guys!

[moneymunch] 19/4/2016 08:14

Cheers hazl, news from Nutech and Xodus expected anytime now, for OIP reserves upgrade, engineering studies for horizontal well flow and reservoir engineering analysis to determine potential recoverable volume......gl.....significant potential upside, especially now Ukog has a 27.3% interest. ;-)

[hazl] 19/4/2016 07:59

OIL UP as well

[hazl] 19/4/2016 07:44

thanks excellent articles muneymunch

[datait] 19/4/2016 07:43

Buy the dips. We might see alot of buying after being on last nights news.

[moneymunch] 19/4/2016 07:31

The oil company behind the “Gatwick gusher” is claiming that at its peak the region could provide up to a quarter of Britain’s oil demand.

Tapping the oil beneath the Weald region of southern England could contribute between £7 billion and £53 billion to the economy, according to a report conducted by EY that was commissioned by UK Oil & Gas (Ukog), the AIM-quoted explorer.

[moneymunch] 19/4/2016 06:53

"The strike may last 10 to 15 days"

Kuwait Oil-Workers Strike Over Pay Dispute Enters Third Day

Oil production plunged 60% on first day of strike on Sunday
Talks with union broke up at 3 a.m.: government official


Oil workers at Kuwait’s oil production facilities extended their strike for a third day over an unresolved pay dispute, slashing the OPEC member’s output by about 1.7 million barrels a day, an amount exceeding the current global surplus.

The “strike is on,” Kuwait National Petroleum Co. spokesman Khaled Al-Asousi said in a text message Tuesday. Attempts to reach a settlement failed after talks with the union broke up at 3 a.m., said a government official who asked not to be identified because the negotiations are private.

Oil production plunged 60 percent to 1.1 million barrels a day when the strike began on Sunday, while the state refining company slowed operations at its three oil-processing plants to less than 60 percent of their combined capacity. Kuwait Petroleum Corp.’s oil-production and refining units are working to restart units and raise fuel-processing rates to full capacity, officials said Monday.

Oil pared declines, with Brent crude dropping 0.4 percent to $42.74 a barrel by 8:45 a.m. in Dubai, after falling as much as 0.7 percent. Kuwait pumped 2.81 million barrels a day last month, making it OPEC’s fourth-largest producer, while worldwide supply surpassed demand by 1.6 million barrels in the first quarter, according to the International Energy Agency.

“If the Kuwaiti strike persists, it re-balances the market,” Robin Mills, chief executive officer at consultant Qamar Energy in Dubai, said by phone on Monday. “So far it looks like Kuwait is meeting demand and supplying their commitments out of storage.”
Pay cuts

Oil workers in Kuwait are striking to protest cuts in pay and benefits as Middle Eastern crude exporters, reeling from lower oil income, cut subsidies and government handouts. The walkout is the first by oil workers in Kuwait since at least 1996, according to Middle East Economic Digest.

“The substantial impact of the Kuwait strike has added significantly to the various short-term shut-ins around the world,” consultants FGE said in a note on April 18. The Kuwaiti cuts are “pretty well trebling the shortfalls” from unplanned disruptions in countries including OPEC members Nigeria, Iraq and Venezuela, it said.

The strike may last 10 to 15 days, because the government set up a joint committee to negotiate with the union over 10 days, said Virendra Chauhan, a London-based oil analyst at Energy Aspects Ltd. “Assume a bit of time to return to work and ramp up,” he said. “Basically we are not expecting months of delay.”

[moneymunch] 19/4/2016 06:41

Brent at $42.90 and rising gla ;-)


Oil prices seem to have taken the news from Doha in stride. Analysts say that’s in part because of signs that the oil market is already heading toward an equilibrium between supply and demand. For example, a count of U.S. oil rigs by Baker Hughes Inc., seen as a proxy for the industry, fell for the fourth consecutive week, data on Friday showed.

“Even without an agreement, there have been strong signs that the market has been getting back in balance,” said Phil Flynn, a senior market analyst at Price Futures Group. “Up until now we haven’t had a production freeze and prices have gone up.”

Another new cause of falling production: a strike among oil workers in Kuwait over wage cut proposals. That slashed the nation’s oil production by more than half on Sunday. Depending on how long the strike lasts, that could have a “significant” impact on the market’s balance, according to Helima Croft, global head of commodity strategy at RBC Capital Markets.

While some investors had been expecting a deal in Doha to freeze production, or at least a commitment among producers to work toward one, doubts had been growing ahead of the meeting. On Friday oil settled down 2.75%, at that point the biggest drop in nearly two weeks, as doubts grew about a deal and its potential impact.

Without a deal in Doha to freeze output, many still see production continuing to even out among OPEC members. Goldman Sachs analysts, led by Damien Courvalin, write that, “this lack of an agreement does not imply that OPEC production will recover in the short-term, as the year-to date stabilization owes to ongoing disruptions and maintenance rather than coordination.”

UBS analysts, led by Jon Rigby, said Monday that producers are currently limited in their ability to expand production.

[moneymunch] 18/4/2016 22:11

Steve Sanderson interviewed today by Ian Palmer from @bbcsoutheast

… Starting at 8min28sec

[moneymunch] 18/4/2016 19:46

US coverage

LONDON, April 18 (UPI) -- The so-called Gatwick Gusher, a shale basin in the United Kingdom, could add as much as $74 billion to the nation's economy, a study finds.

U.K. Oil & Gas Investments commissioned Ernst & Young to examine the future potential of oil production from the Weald shale basin.

"Assuming it can be extracted from a development site at the volumes projected by U.K. Oil & Gas, has the potential to generate significant economic value to the U.K. economy," the report read.

Oil & Gas U.K., the industry's lobbying group, said the North Sea oil sector is in for a long period of decline, with less than $1.4 billion in new spending expected in 2016. Inland shale, meanwhile, has the potential to add between $10 billion and $74.6 billion to the British economy in gross value, the commissioned report said.

Operators are working to assess the potential in the shale area by testing the Horse Hill-1 oil discovery. Preliminary estimates made by the company last year put the entire Horse Hill reserve total as high as 100 billion barrels of oil. If its full potential is reached, the future production from the area could provide as much as a quarter of the nation's total oil demand over its lifespan, based on 2014 demand levels.

The field, locked in a geological formation called the Kimmeridge Limestone, is about three miles away from the Gatwick Airport, earning it the nickname the Gatwick Gusher.

Stephen Sanderson, the executive chairman of U.K. Oil & Gas, said developing the shale basin could make a significant contribution to the British economy. Oil is already flowing at nearly three times the expected peak rate.

"It is therefore possible that the overall economic impact of Kimmeridge Limestone oil could be significantly higher than this initial report describes," he said in a statement.



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