Uk Oil & Gas Share Discussion Threads

[theuniversal] 24/4/2016 22:14

For your consideration. Magellans overall percentages in and around the ukhttp://www.magellanpetroleum.com/operations/united-kingdom

[moneymunch] 24/4/2016 22:07

DL Sharetalk Master Investor Interview.

[gismo] 24/4/2016 17:02

From lse thread In reply to Unknown TraderDavid Lenigas ‏@DavidLenigas now19 minutes ago@trader_unknown I'm interested in buying it. Magellan are broke and are selling all their assets.

[moneymunch] 24/4/2016 16:59

Lol, yeah whatever.

[beebong1] 24/4/2016 16:57

Whatever. I have not seen any flow rates given for Balcombe-1 so apart from the fact that oil flowed it was not worth reporting the flow rate IMO. Why drill Balcombe-2 to the same depth only 10m away and Balcome-2Z which was a horizontal well and not flow test.
Anyway, nothing to do with HH and considering Balcombe is in the Weald "sweet spot" a bit disappointing.

[moneymunch] 24/4/2016 16:50

ps "The other one is offshore, southwest of the Isle of Wight (the Portland - Wight Basin or English Channel Inversion Structure)."

right next to Ukog's M prospect, offshore SW IoW......gla longs ;-)

[moneymunch] 24/4/2016 15:43

Lol you numptie, read the above again, the Limestones were flowing oil as is the case 15 miles away at HH, it's the rest of the tight shale that would require hydraulic fracturing, of that we are already aware, and therefore that suggests if the Limestones flow at two sites, then it's very likely to flow at others across the basin, and we'll find that out when Holwood is drilled. Gla longs, exciting times ahead. :-)

[beebong1] 24/4/2016 15:31

I rest my case. Above 1000m so they can't frack it or get it out. If it wasn't economic then it won't be economic now IMO, just like Collendean-1.

[moneymunch] 24/4/2016 13:59

ABOUT BALCOMBE OIL FROM 1986

The Balcombe-1 well (near HH) was drilled by Conoco in 1986. It was considered uneconomic because oil was $10 barrel at that time.

"The shale under Balcombe is 1,800 feet thick and comprises mainly Kimmeridge clay with two thin layers (each about 100 feet) of micrite limestone shale separated by 140 feet of Kimmeridge clay."

"Conoco acidified the micrite layer exposed in their well and this process increased the oil flow rate tenfold. This easily acid fracked calcium based rock is less than 12% of the total shale bed thickness. The rest of the shale bed will need hydraulic fracturing or some other technique to release the oil because the rock is silica based rather than calcium based."

[bengee] 24/4/2016 13:49

I wonder if UKOG will make an offer for Alba,their share price is only 0.32p & they supposedly own 15% of the Weald.I think there is about 1.3 billion shares in issue.

[moneymunch] 24/4/2016 13:48

Balcombe not Brockham

[beebong1] 24/4/2016 13:45

moneymunch
One decimal point is far easier mistake to make IMO. Think you have lost that discussion so end of.

Not sure what Cuadrilla has to do with Brockham as Angus are the operator and BP the original owners and I am sure they did not report any oil from the Kimmeridge.
Name one other well producing from the Kimmeridge limestone in the Weald.

[gismo] 24/4/2016 13:29

Robbie the only reason I said you were guessing is that you said it will happen next week?This will be huge but it will take some sorting out as I feel ss is after a bigger chunk of the pie gl

[beebong1] 24/4/2016 13:17

mortie1
Answering moneymunches claim that "The lower production rates you refer to only apply to the Portland Sandstone and not the Kimmeridge." by showing that the Kimmeridge, and below, had been drilled in the Weald on many occasions and no oil found.
Until such time as someone else finds oil in the Kimmeridge only HH-1 has.

moneymunch
Pot calling kettle especially after your big booboo regarding "UKOG".

moneymunch 21 Jan'16 - 08:21 - 9539 of 13247 1 0

Eden sells UK assets for £1

21st January 2016 By: Esmarie Swanepoel Creamer Media Senior Deputy Editor: Australasia EMAIL THIS ARTICLE © Reuse this PERTH (miningweekly.com) –

ASX-listed Eden Energy on Thursday announced that it had agreed to divest of its UK subsidiary to UK Onshore Gas (UKOG). Under the terms of the agreement, UKOG would pay Eden Energy £1 in cash for the assets, with the two parties also entering into an overriding royalty agreement, which has been capped at £35-million.

The royalty would be calculated monthly as soon as petroleum substances were first sold from the UK holdings. UKOG has the right to buy Eden out of the royalty agreement for £17.50million, less 50% of any royalty already paid, provided that such a buy-out option was exercised within the first five years of the date of agreement.

Furthermore, UKOG would also acquire Eden’s debts and liabilities associated with its UK assets, which included a shareholding in a number of petroleum and exploration development licences. Eden said on Thursday that with the sale of its UK assets, the company would have no further financial commitments to the project, but could still share in the potential upside from hydrocarbon sales.

However, the company noted that there was no guarantee that any royalty payment would be forthcoming from UKOG, as the payment was dependent on a petroleum substance being mined or extracted from the tenement areas. The transaction would not require shareholder approval from Eden shareholders.

It is our preference that if you wish to share this article with others you should please use the following link:

[kmjs] 24/4/2016 13:03

I saw that MPET release on the 20th & now that it has been highlighted, I
would suggest the whole document is read because it throws up many potential
outcomes if the boards plans are approved.

MPET don't only have HH, note the other blocks in the Weald. IMO if the likes
of Total have been sniffing around, what better chance for them to gain a strong
foothold in the area and at the same time bring a boost to those already involved?

Would UKOG have bothered buying the 7.8% stake very recently if they thought
that they would have to find the cash for MPET's 35% stake so soon after - I
think not but lets see. Remembering DL's visit to the USA and going back to the
release, could UKOG even look to merge/buy MPET for a NASDAQ listing - are they
or would they be in a position to fulfill NASDAQ rules?

At least you all have something new to argue about - I just hope UKOG are able
to gain the best outcome for shareholders and let us know asap what if anything they are aiming to make a bid for.

[beebong1] 24/4/2016 11:57

And yet all these wells were drilled below the level of the Kimmeridge and did not find oil. Just a few which took under 5 minutes to find so you can gurantee there are lots more.

Bordon 8000 feet
Brockham 7200 feet
Balcombe 5500 feet
Southwater 4300 feet

Just take your pick from the 45 that Nutech have obtained their data from.

ALBURY_1 HOLTYE_1 STANMER_1
ASHOUR_1 HOOK_LANE_1 STORRINGTON_1
BALCOMBE_1 HORNDEAN_4 TURNERS_HILL_1
BAXTERS_COPSE_1 INWOOD_COPSE_1 URCHFONT_1
BIDDENDEN_1 KNOCKHOLT_1 WALLCROUCH_1
BORDON_1 LEE_ON_SOLENT_1 YARNBURY_1
BROCKHAM_1 LOMER_1 STOCKBRIDGE_5
CHILWORTH_1 MIDDLETON_1 COLLENDEAN_FARM_1
EGBURY_1 NETHERHAMPTON_1 HORSE_HILL_1
FAIRLIGHT_1 OLD_ALRESFORD_1 ODIHAM_1
FARLEY_SOUTH_1 PAGHAM_1 STRAT_A1
GODLEY_BRIDGE_1 PALMERS_WOOD_1 LOWER_KINGSWOOD_1
HEDGE_END_1 ROGATE_1 BLETCHINGLEY_1
HELLINGLY_2 ROTHERFIELD_1 BLETCHINGLEY_2
HOE_1 SOUTHWATER_1 EAGLESDEN_1

Another 85 in the database

ALBURY_1 GOODWORTH_1 ODIHAM_1
ASHINGTON_1 HEDGE_END_1 OLD_ALRESFORD_1
ASHOUR_1 HELLINGLY_2 PAGHAM_1
AVINGTON_1 HERRIARD_1 PALMERS_WOOD_1
BALCOMBE_1 HERRIARD_2 PALMERS_WOOD_3
BAXTERS_COPSE_1 HESTERS_COPSE_1 POTWELL_1
BIDDENDEN_1 HINTON_MANOR_1 RINGMER_1
BLETCHINGLEY_1 HOE_1 ROGATE_1
BLETCHINGLEY_2 HOLTYE_1 ROTHERFIELD_1
BLETCHINGLEY_6 HOOK_LANE_1 SHIPBOURNE_1
BORDON_1 HORNDEAN_2 SINGLETON_1
BRAMLEY_1 HORNDEAN_3 SOUTHWATER_1
BROCKHAM_1 HORNDEAN_4 STANMER_1
CHILGROVE_1 HORSE_HILL_1 STOCKBRIDGE_3
CHILWORTH_1 HUMBLY__GROVE_X5 STOCKBRIDGE_4
CLANFIELD_1 IDEN_GREEN_1 STOCKBRIDGE_5
COLLENDEAN_FARM_1 INWOOD_COPSE_1 STOCKBRIDGE_6
COXBRIDGE_1 KNOCKHOLT_1 STOCKBRIDGE_8
CROCKERHILL_1 L_R/26I1_(EAST_WORLD STORRINGTON_1
DETENTION_1 LEE_ON_SOLENT_1 STORRINGTON_2
EAGLESDEN_1 LIDSEY_X1_(1) STRAT_A1
EDEN_BRIDGE_1 LOCKERLEY_1 TURNERS_HILL_1
EGBURY_1 LOMER_1 UPPER_ENHAM_1
FAIRLIGHT_1 LOWER_KINGSWOOD_1 URCHFONT_1
FARLEIGH_WALLOP_1 MIDDLETON_1 WALLCROUCH_1
FARLEY_SOUTH_1 MINSTED_1 WASHINGTON_1
FURZEDOWN_1 NETHERHAMPTON_1 WESTHAM_1
GODLEY_BRIDGE_1 NORMANDY_1 WESTMESTON_1
GODLEY_BRIDGE_2Z YARNBURY_1

[moneymunch] 24/4/2016 11:43

Published by Hargreaves Lansdown for last week.

Hargreaves Lansdown Top of the stocks 88 Energy Ltd , Premier Oil Plc , UK Oil & Gas Investments plc

By stocks
Published: Sunday, April 24, 2016 12:16 AM PDT

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[hazl] 24/4/2016 11:38

INDEED while the oil price rises so will enthusiasm for a UK source.

IMO

[beebong1] 24/4/2016 09:05

Using information from the various reports I have made a précis of information for comparison prior to the publication by Nutech of the updated OIP. IMO it would be nice to have total OIP for HH-1 as well as the Weald overall.

Nutech 21 October 2015
8 of UKOG licenses are in the Weald Basin and total 390 km2.

The Weald Basin is 10,825 km2 according to BGS.
4th June 2015 Schlumberger has reported the Weald as 5500 km2
21 October 2015 Nutech have reported OIP for the Weald Basin AOI as 1261 sq.miles = 3266 km2
Some confusion IMO.

In total UKOG has a total interest of 31.6% of these 8 licenses which gives anything between 31.6% of 4% and 12% of the Weald depending on who you believe. IMO BGS have totally got it wrong so I'm going for between 7% and 12%.
It should be remembered that the sweet spot of the Basin is probably not far from HH and explains the lower production rates from the peripheral wells in the Weald.

Nutech have reported OIP for the Weald but has failed to identify the OIP for all levels, including the Portland, so it is very difficult to work out total OIP.

Schlumberger has reported OIP as 271.4 MMBO/mi2 for HH-1.