Uk Oil & Gas Share Discussion Threads

[gismo] 26/4/2016 12:17

Go play somewhere else Atino, you are really making yourself look ignorant and very stupid

[atino] 26/4/2016 11:49

...nothing wrong with the Shareprophet article IMO...

...its merely echoing a 'statement already released' by Magellan Petroleum...and what they will intend to do ! *__^

IMO its designed...to make you reader's....fink ! ^__^

[hazl] 26/4/2016 11:17

SHAREPROPHETS Again tut tut

[funkmasterp12] 26/4/2016 11:06

So if UKOG have £3m cash (let's be generous) and want to use that to buy MPET's share, that values Horse Hill completely at about £9m.

You really think that's a good thing?!

[atino] 26/4/2016 11:06

Are you 'all in' Moneymunch ??


head...shoulders...knees & toes ????


[...got 'life insurance'...to 'hedge' against that buddy ??] *__^ LOL

[moneymunch] 26/4/2016 11:03

Mpet are in distress and are trying to off load and downsize the majority of their exploration portfolio. Plenty of takers for Mpet's 35% share of HH....watch this space. Gla...On and Up!!! :-)

[moneymunch] 26/4/2016 10:59

Lol, looks like the basher TW gimp cohorts are concerned about the upward momentum here, with every chance of a significant rise on the imminent reserves upgrade, especially now Ukog have confirmed their expectation of the full production flowtest this year.....a defining moment for all invested and a kick in the teeth for the lowlife scumbag detractors aligned to the odious TW with their red and squirming faces . ....pmsl....gla longs ;-)

[atino] 26/4/2016 10:49

Good morning *__*...(and not excited about intra-day movements *__^)

[moneymunch] 26/4/2016 10:23

Upward momentum returning to reflect fair value for the transformational opportunity ahead, validated by the stunning flow tests so far from HH, which will be further enhanced by the imminent Nutech and Xodus Reserves upgrade. Gla longs :-)))))

[moneymunch] 26/4/2016 10:13

Lol the production flowtest that Ukog expect this year according to yesterday's publication of the Master Investor presentation is not about generating revenue, it's all about confirming the multi-billion barrels in place and the significant commercial recoverable volumes of high quality oil. "Very significant returns this year on successful test data, aligned to Ukog's expectations Gla longs ;')

[funkmasterp12] 26/4/2016 10:07

Er, no, it says "unlikely to generate revenue", not "unlikely to generate enough revenue to get us out of trouble".

[beebong1] 26/4/2016 09:48

moneymunch
Even at an unrealistic 1600 bopd IMO the profit per day is only $4368 or £3003 (£270,000 for 90 days) with oil at $50 a barrel.

PS
The limestones were both naturally flowing at the end of each test period. You only go onto pump when the flow rates drop or to initially "kick start".

[hazl] 26/4/2016 09:46

It is indeed about the future or it wouldn't be just over 2p to buy!

IMO

[hazl] 26/4/2016 09:41

thanks MM!

[funkmasterp12] 26/4/2016 09:41

and "unlikely to provide ongoing revenue in the near term" according to a company that owns 35% share of the well.

[moneymunch] 26/4/2016 09:39

and "Very significant returns for those invested within 6 to 18 months" according to Ukog's Chairman last week.....newsflow, on the production flowtest expected to begin this year will see the share price heading to new highs imho. Gla longs :-)

[moneymunch] 26/4/2016 09:32

The Nutech/Xodus Reserves upgrade and estimation on recoverable volumes must be close for release imho. Gl :-)

[moneymunch] 26/4/2016 09:10

Ps and the whole point of the production flowtest is once and for all to kick the doubters, disbelievers and detractors into touch, by confirming the multi-billion barrels of high quality oil in significant commercial recoverable volume at HH and across the Weald Basin. Gla longs, transformational potential ahead for all invested. Onwards and Up!!! ;-)

[moneymunch] 26/4/2016 08:57

The Portland is expected to flow much higher on increased pump capacity and the flow from Limestones could be increased on full optimisation and so a conservative 1,600bopd more than likely, X 90 days = 144,000 barrels X $45 = $6,480,000 gross X 27.3% ( Ukog's current interest ) = $1,769,040 gross to Ukog over 90 days. This figure could be much higher of course, on optimised flow, increased % interest by Ukog and oil bouncing to $50 plus by second half of 2016. Gla longs, exciting times. :-)


Horse Hill-1 Oil Discovery, Weald Basin, UK

Aggregate Flow Rate Likely the Highest of any UK Onshore New Field Discovery Well

UK Oil & Gas Investments PLC (London AIM and ISDX: UKOG) announces that Horse Hill Developments Ltd has informed the Company that the final Horse Hill 1 ('HH-1') Portland test flowed at a stable dry oil rate of 323 barrels of oil per day ('bopd'), double the previously reported rate. The final total aggregate stable dry oil flow rate from two Kimmeridge limestones plus the overlying Portland sandstone stands at 1688 bopd. Over the 30-90 hour flow periods from each of the 3 zones, no clear indication of any reservoir pressure depletion was observed. Further analysis of data is ongoing and will be reported shortly.

Way Forward

Given these exceptional results, the Company has commissioned Nutech to investigate a possible upgrade to the oil in place ("OIP") calculated within all 3 test zones together with engineering studies to examine possible flow rates from a horizontal well. Reservoir engineering analyses by Nutech and Xodus are also underway, and will likely result in an estimation of potential recoverable volumes. Results of these studies will be reported shortly.

Preparation is now underway to obtain regulatory permissions to conduct extended production tests from all 3 zones at the site, followed by a horizontal sidetrack in the Kimmeridge and a possible new Portland development well.

Flow Test Highlights

-- The final Portland test of 323 bopd, over an 8.5-hour, period is the highest stable dry oil flow rate from any onshore UK Portland well. On further testing, with a larger pump, the rate doubled from the previously reported stable dry oil rate of 168 bopd. The Portland was produced at maximum pump capacity and showed no clear indication of depletion. It is likely that the rate can be further increased using a higher capacity downhole pump during the next planned test.

-- Proof that the Kimmeridge limestones contain significant volumes of moveable light oil that can be flowed to surface at commercial rates

-- As previously reported, the stable, natural dry-oil flow rate of 464 bopd from the Lower Kimmeridge Limestone is the first ever flow from this rock unit in the Weald Basin and onshore UK

-- Based on the analysis of published reports from all significant UK onshore discovery wells, the Company concludes that the well's 1688 bopd is likely the highest aggregate stable dry-oil flow from any onshore UK new field wildcat discovery well

-- Based on the analysis of published reports from all significant UK onshore discovery wells, the Company concludes that the 901 bopd from the Upper Kimmeridge zone is likely the highest stable natural dry oil flow rate from a single reservoir in any UK onshore new field wildcat discovery well

-- High quality Brent Crude produced: light, sweet oil (40 degrees API in Kimmeridge, 35-37 degrees API in Portland) 1,940 barrels delivered to the Esso Fawley refinery

-- Preliminary analysis confirms that the Lower and Upper Kimmeridge Limestone units are naturally fractured reservoirs with high deliverability

-- Strong possibility for further optimisation and increased flow rates from all 3 zones in future development and production wells, particularly through the use of horizontal wells

[gismo] 26/4/2016 08:37

I suppose in a weird sort of way it will be nice to see swampy back!lol but under more control this time.

[beebong1] 26/4/2016 08:32

I think Js 490 is way out with his calculations

Maximum flow rates during flow test were;
Portland test of 323 bopd but limited by pump capacity
464 bopd from the Lower Kimmeridge Limestone
901 bopd from the Upper Kimmeridge

Using 901 bopd as the maximum the profit per day to UKOG with POO @ $50 a barrel

901bopd x $10 x 27.3% = $2460 (£1693) net per day to UKOG

Might be interesting to see how the great unwashed deal with up to 5 tanks a day though.

[moneymunch] 26/4/2016 06:43

Courtesy of Js490 on Lse.........spot on!!! Gla ;-)

<"3x 90 day production tests (2016)">

Yes, and this is key.

3 months of testing for each zone. That means 9 months of production, and much needed revenue, benefiting ALL partners in the HH consortium.

Since the well is already drilled, and horizontals and 3-D aren't planned until 2017, I think that means that over the near to medium term, the HH partners may see more money coming in, than going out. Or at the very least, depending on the individual company, bringing their net cash flows more into balance.

This production testing would not only help to further clarify the enormous potential of the area, but could also help the partners to build their own cash reserves, reduce the need for further placings, and build up funds to use for future exploration programs.

And of course, any increase in the oil price over the course of 2016 would further add to these benefits.

Bring on the extended production tests!!!