Uk Oil & Gas Share Discussion Threads

[on target] 29/4/2016 14:41

£100k buy just gone through..

[funkmasterp12] 29/4/2016 14:39

"I don't want to come across too repetitive"

Er!

[niceyman1] 29/4/2016 14:37

Here we go, take off time!

[moneymunch] 29/4/2016 12:33

Oil prices hit their highest levels of the year on Friday, driven up by lower US production and a weak dollar.

Both US and Brent crude prices hit 2016 peaks, trading as high as $46.27 and $48.30 a barrel respectively.

US domestic crude production has continued to fall in recent months, easing concerns about oversupply.

Meantime the dollar has lost almost 2% of its value against other global currencies over the past week.

A weaker US dollar typically contributes to a rise in oil prices, because oil is priced in dollars. When the dollar weakens against other currencies, oil becomes cheaper to buy, pushing up demand.

[moneymunch] 29/4/2016 12:24

Lol Kenbos I don't want to come across too repetitive, but since you ask here is one of my earlier posts, outlining development plans as per last week's Master Investor presentation.


Penty of positive newsflow and potential significant upside this coming year. The flowtest results from HH were outstanding and the free flow from the Kimmeridge limestones was beyond all expectations. We now look forward to the eagerly awaited reserves upgrade and estimation of recoverable volumes, and early UK Govt/Agency approval for the 90 day production flowtest expected this year. News on further acquisitions more than likely. Gla longs.....full market appreciation will arrive sooner than many realise, imho. :-)


KIMMERIDGE LIMESTONE OIL PRODUCTION

Can be produced with low visual impact
-
12-24 wells in 4-6 acre site
-
Wells and pumps below ground level
-
Control production to reduce initial road
tanker impact
-
Can be located in brown field sites and
away from villages, houses, small roads

KIMMERIDGE LIMESTONE OIL PLAN TO 2018

The journey has just begun
-
Consolidate and increase licences holding in Weald Basin –; control the Kimmeridge Oil play
-
Bring Horse Hill/Gatwick Gusher to production
-
3x 90 day production tests (2016)
-
3D seismic (2017)
-
Horizontal production wells (2017)
-
Show HH-1 resources can be repeated to south and west in the Basin sweet-spots

Holmwood-1 well (2016/17

2 others identified wells (2017/18)

[kenbos] 29/4/2016 12:18

What will be the next stage ? What sort of timescale for commercial drilling

[moneymunch] 28/4/2016 18:47

$48 plus.....Gla Onwards and Up!!! ;-)

[moneymunch] 28/4/2016 18:37

Brent now at $47.90, undoubted added value on any reserves upgrade as oil keeps heading north, news imminent from Nutech and Xodus and i hope it's accompanied by a fund raising to allow Ukog to further increase their % interest at HH and also provide enough funds for the foreseeable, which imho will see a flood of new investors to a fully funded Ukog with so much transformational upside on the multi-billion potential of the Kimmeridge and Weald Basin. Gla longs ;-)

[moneymunch] 28/4/2016 16:12

Indeed hazl :-)

Ps Brent touched $47.70 earlier and on the rise again at $47.50, all bodes well for added value on any reserves upgrade. Gl :-)

[hazl] 28/4/2016 12:54

good to use lots of sources for info I would have thought

[moneymunch] 28/4/2016 12:45

Lol I only dip in there from time to time, and it does get over congested with trivia, but there is a collection of decent posters with good info and comment, although it's not that user friendly on your mobile. I'm Advfn first for many reasons. Gl :-)

[theuniversal] 28/4/2016 12:36

Money munch how you enjoying the lse web forum?

[moneymunch] 28/4/2016 11:45

Brent cruising at $47.25........ $50 plus in May could be on the cards at this rate and so a perfect time for a reserves upgrade from HH. News must be close. Gla :-)

[daniel levi bmd] 28/4/2016 08:41

FYI



Conman Whitby exposed in full.


It's a shocking tale of undeclared, unsecured loans made by Dave Whitby from the coffers of the then CEB AIM listed company, which recently rebranded to Andalas Energy & Power (LON: ADL). Whitby, who is the CEO of Corsair Petroleum, a private......


Dan
x

[beebong1] 28/4/2016 08:28

Just over 1 working day left to the end of the month and good old gov. in the form of DECC have failed to deliver any of the new licences from the 14th round.
Does make you wonder about the commitment to onshore oil drilling in England.

[moneymunch] 28/4/2016 08:01

Hi TU, courtesy of JS490 on Lse a few days ago that fits nicely. Gl ;-)

JS490

Here's my current take on the situation:

Magellan is currently working on a deal with a separate financing company to get rid of a large part of their liabilities in exchange for various US-based exploration/development interests.

Reading through MPET's filings, and just reading between the lines, I don't think anything major is going to happen in regards to any of their other interests until this deal is completed. If nothing else, it's needed just to clarify their current situation. Plus, there may be restrictions on the types of deals they can do, just based upon agreements already in place.

There's going to be a special meeting called, but no date has been given. A preliminary proxy has been filed with the SEC, and this should be followed up by a definitive proxy filing, and a firm date for the meeting.

Note, this deal needs shareholder approval, and I can tell you that there's some shareholders that aren't too happy about it. Some people like these US properties, and generally aren't too happy with the company shedding off assets left and right.

Personally, as an MPET shareholder myself, I'm in favor of it, as I really don't care about these particular US properties. For me, it was always about the Horse Hill/Weald interests. I think it still should go through, but we'll just have to wait and see for sure.

So I think the next step to look for now is the actual date of the meeting. Then, should the deal go through, I would expect to see increased activity on other fronts.

just my opinion

[theuniversal] 28/4/2016 07:44

Released on 20th aprilMagellan Petroleum Corporation 1775 Sherman Street, Suite 1950 Denver, Colorado 80203____________, 2016Dear Magellan Stockholders:Magellan Petroleum Corporation ("Magellan" or the "Company") has signed an Exchange Agreement (the "Exchange Agreement") with One Stone Holdings II LP ("One Stone") pursuant to which One Stone will transfer to the Company 100% of the outstanding shares of Magellan Series A convertible preferred stock, par value $0.01 per share (the "Preferred Stock"), in consideration for the assignment to and assumption by One Stone of 100% of the outstanding membership interests in Nautilus Poplar LLC, a wholly owned subsidiary of the Company, and 51% of the outstanding common units in Utah CO2 LLC, a majority-owned subsidiary of the Company, as adjusted by the Cash Amount (as defined in the Exchange Agreement) (the "Exchange"). The Exchange, if consummated, will result in a sale to One Stone of all of Magellan's interests in the Poplar field in Montana, which is owned by Nautilus Poplar LLC, in consideration for the Preferred Stock and the Cash Amount.Magellan believes the Exchange will be beneficial to its stockholders. In order to complete the transactions contemplated by the Exchange Agreement, the Magellan stockholders must approve the Exchange and the other transactions contemplated by the Exchange Agreement at an annual and special meeting of stockholders to be held on ____________, ____________, 2016, at ________ a.m. local time in the Lobby Conference Room of the Denver Financial Center, located at 1775 Sherman Street, Denver, Colorado 80203. In addition, at the annual and special stockholders' meeting, you and the other stockholders will be asked to vote on (i) the election of the individual named as a director nominee in the enclosed proxy statement to the Company's Board of Directors for a three-year term; (ii) a non-binding advisory resolution to approve the compensation of the Company's named executive officers; and (iii) the ratification of the appointment of EKS&H LLLP as the independent registered public accounting firm of the Company for the fiscal year ending June 30, 2016.This letter and the enclosed proxy statement are being furnished to you in connection with the solicitation of proxies by the Magellan Board of Directors. Only stockholders who hold shares of Magellan common stock or Preferred Stock at the close of business on ____________, 2016, the record date for the annual and special meeting, are entitled to vote at the meeting. Attached to this letter is an important document, a proxy statement, containing detailed information about Magellan, One Stone, the proposed Exchange and the other transactions contemplated by the Exchange Agreement, as well as the other matters to be considered at the annual and special stockholders' meeting. Magellan urges you to read this document carefully and in its entirety.Magellan's Board of Directors recommends that you vote (1) "FOR" the approval of the Exchange and the other transactions contemplated by the Exchange Agreement; (2) "FOR" the election of the individual named as a director nominee in the enclosed proxy statement to the Company's Board of Directors for a three-year term; (3) "FOR" the approval, on a non-binding advisory basis, of the compensation of the Company's named executive officers; and (4) "FOR" the ratification of the appointment of EKS&H LLLP as the independent registered public accounting firm of the Company for the fiscal year ending June 30, 2016.Your vote is very important. Whether or not you plan to attend the annual and special meeting, please take the time to complete, sign, date, and return the enclosed proxy card. If you hold your shares in "street name," you should instruct your broker how to vote in accordance with your voting instruction card.

[moneymunch] 27/4/2016 20:56

Brent at $47.20 and rising......now where's that reserves upgrade Rns. Gla longs

[moneymunch] 27/4/2016 18:48

Zak Mir on 18th April reckoned 3.5p next if Ukog holds 2p over the next few days, it's well over a week now, so fingers crossed. Gla ;-)

[moneymunch] 27/4/2016 15:14

In the meantime.....Finacial Times

Oil price at highest level since November
Signs of easing surplus lift Brent and WTI

APRIL 27, 2016 by: Anjli Raval, Oil and Gas Correspondent

Oil prices rose to their highest levels since November on Wednesday amid signs the global surplus is easing.

International benchmark Brent crude rose 90 cents a barrel to $46.64 after hitting $47.05 earlier in the day. US marker West Texas Intermediate increased 80 cents a barrel to $44.85, after reaching a high of $45.13.

Following a slide to 2003 lows in January oil prices have rebounded amid signs global supply and demand will soon come into balance. This has prompted a rush of new investment into crude futures, with speculators raising their holdings to a record high.

[gismo] 27/4/2016 13:39

Moneymunch, I too believe that this will come together sooner than most think but time will tell.

I sincerely hope the Government fast track these approvals, after all it's in their interest with all that revenue to rake in. gl

[moneymunch] 27/4/2016 13:31

Plenty of positive newsflow and potential significant upside this coming year. The flowtest results from HH were outstanding and the free flow from the Kimmeridge limestones was beyond all expectations. We now look forward to the eagerly awaited reserves upgrade and estimation of recoverable volumes, and early UK Govt/Agency approval for the 90 day production flowtest expected this year. News on further acquisitions more than likely. Gla longs.....full market appreciation will arrive sooner than many realise, imho. :-)


KIMMERIDGE LIMESTONE OIL PRODUCTION

Can be produced with low visual impact
-
12-24 wells in 4-6 acre site
-
Wells and pumps below ground level
-
Control production to reduce initial road
tanker impact
-
Can be located in brown field sites and
away from villages, houses, small roads

KIMMERIDGE LIMESTONE OIL PLAN TO 2018

The journey has just begun
-
Consolidate and increase licences holding in Weald Basin –; control the Kimmeridge Oil play
-
Bring Horse Hill/Gatwick Gusher to production
-
3x 90 day production tests (2016)
-
3D seismic (2017)
-
Horizontal production wells (2017)
-
Show HH-1 resources can be repeated to south and west in the Basin sweet-spots

Holmwood-1 well (2016/17

2 others identified wells (2017/18)

[atino] 27/4/2016 13:24

Jolly good - abstained ! LOL ^__^

[gismo] 27/4/2016 13:18

Post reported!

[gismo] 27/4/2016 13:16

Well for a start you moron I'm no buddy and I am well above locking horns with anyone so ignorant as your dear self!