Uk Oil & Gas Share Discussion Threads

[theuniversal] 23/5/2016 19:38

Moneymunch lets wait until end of june or before to see if mpet sell their usa assets first and stay within the conditions of nasdaq. Mpet just shot up too $1.37 someones knows somthing.

[theuniversal] 23/5/2016 19:34

So ukog will own 40% of the holmwood 1 well.....under terms and conditions

[moneymunch] 23/5/2016 19:33

Great news for Uk onshore explorers

Eventually, Fracking for shale gas will get the greenlight everywhere in the UK imho , under strict regulation etc. and so any application/approvals for conventional oil extraction such as HH shouldn't be a problem, especially with the example of Wytch Farm's outstanding safety record, and peak production of 110,000bopd from in and around Poole Harbour, an area of outstanding natural beauty. Gl ;-)

Exploring UK fracking emissions concerns

Royal Society of Chemistry -16 May 2016

A Department of Energy and Climate Change report on fracking states that potential risks to public health from exposure to emissions associated with shale gas extraction are low if the operations are properly run and regulated.

Another report, by Public Health England, concluded the overall effect of UK shale gas production on national emissions is likely, with the right safeguards, to be relatively small and emissions from the production and transport of UK shale gas would likely be lower than from the imported liquefied natural gas that it could replace.

[moneymunch] 23/5/2016 19:02

Fracking approved!!! Gla :-)

[beebong1] 23/5/2016 17:29

UJO buy 7.5% of Holmwood and share price goes up nearly 10%.
We buy more of HH and share price goes down.

Someone or something is/has certainly put the hex on the share price here IMO.
I can think of one well read troll and one well read ramper who I would love to blame but I don't subscribe to any one person being able to influence the price of any share price
We can't blame the POO as that has risen over 40% in the last 3 months but the share price here has fallen by 35%.

[beebong1] 23/5/2016 14:40

we have enough problems getting fracking authorised. What chance of re-fracking?

Re-fracking is the holy grail for oil and gas industry. Diversion’s Mendell thinks he has come up with a simple and effective way to re-frack that is game-changing. The technique uses a pressurised gas (initially it will be nitrogen), rather than fluids. Mendell believes the gas will “block and divert” fracking fluid away from already cracked rocks to new, new untreated areas. Crucially, he thinks it will work on horizontal wells that have thus far proved very difficult to re-frack.


PS
North Yorkshire County Council is looking at a bid by Third Energy to extract shale gas at a site near Kirby Misperton in Ryedale.

Voting is due to begin at 19:30 BST today.

[moneymunch] 23/5/2016 12:08

Mpet are desperate for cash....and so shouldn't be too long before we find out how much more of Mpet's 35% Interest at HH, plus their other license area's including the IoW, that Ukog has been able to acquire. Gla :-)

[moneymunch] 23/5/2016 12:08

Mpet in more distress


tem 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On May 17, 2016, Magellan Petroleum Corporation (the “Company”;) received a letter from the Listing Qualifications Department of the NASDAQ Stock Market (“NASDAQ”;) indicating that the Company’s stockholders’ equity as reported in the Company’s quarterly report on Form 10-Q for the period ended March 31, 2016 did not meet the minimum $2.5 million required for continued listing on the NASDAQ Capital Market pursuant to NASDAQ Stock Market Rule 5550(b)(1).

The issuance of the letter has no immediate effect on the listing of the common stock of the Company. Pursuant to the letter, the Company will be provided with 45 calendar days, or until July 1, 2016, in which to submit a plan to the NASDAQ to regain compliance. If the plan is accepted, the Company may be provided with up to 180 calendar days from May 17, 2016 to evidence compliance.

The Company believes that the combination of the previously announced transactions contemplated by the Exchange Agreement with One Stone Holdings II LP, which is subject to stockholder approval and expected to close at the end of June 2016, and the sale of certain of the Company’s assets should result in an increase of the Company’s stockholders’ equity sufficient to achieve compliance.

[temmujin] 23/5/2016 10:15

smart money is piling in solo though..news expected this week re tanzania revenue

[datait] 23/5/2016 09:43

Exactly moneymunch this will move up big time and them who have sold will be left wishing they just held on as they wont get a second chance to get back. Market makers have been consolidating ready to move up. This is huge no matter what and oil price keeps getting better. I would expect this to start moving up this week regardless of any news as its now just a matter of time.

[moneymunch] 23/5/2016 08:37

A great bit of business nevertheless,as all eyes will be on the drill results from the two Kimmeridge limestones at Holmwood which were not included in the original prospectivity by Europa et al, and what value for Holwood on a successful 90 day production flowtest at HH.....exciting times for all invested.....with BIG news for UKOG imminent. Gla holders :-)

[datait] 23/5/2016 08:34

This will zip up before you know it as the market makers know news will be here soon and as soon as they get a sniff of this then it will move up quickly been awhile since we have had news the clock is ticking would'nt want be out of this one.

[beebong1] 23/5/2016 08:15

I think Bigdaddyian forgot the other transaction so we are paying for 60% of the drilling costs for a 30% stake when you add the two together.

23 September 2015
UKOG's interest in Holmwood:
Subject to receipt of the necessary approval from the OGA, UKOG will pay a 40% share of the Holmwood-1 exploration drilling costs in order to acquire a full 20% working interest in PEDL143 from Egdon.

UKOG's share of well costs will be capped at £1.2 million net to UKOG (i.e. 40% of a gross Holmwood-1 well cost estimate of £3 million). Gross well costs above £3 million, should they arise, will be met by UKOG, Egdon and other partners, pro-rata according to their working interests in PEDL143.

[beebong1] 23/5/2016 07:42

Always interesting to note the way the buyer and seller report the same thing.

UNION JACK OIL PLC
(AIM: UJO)
Acquisition of Interest in PEDL143 incorporating the Holmwood Prospect

Union Jack Oil plc ("Union Jack" or the "Company"), an onshore oil and gas exploration and production company with a focus on, exploration, production, development and investment opportunities in the United Kingdom ("UK") hydrocarbon sector, is pleased to announce it has reached agreement with Europa Oil & Gas Limited ("Europa" or the "Operator") to acquire a 7.5% economic interest in PEDL143 located within the Weald Basin, located in southern England and containing the drill-ready Holmwood Prospect (the "Acquisition").

The Acquisition is consistent with the Company's stated strategy of identifying attractive drill-ready opportunities. The Company will participate in the drilling of the planned Holmwood-1 exploration well, which obtained planning consent during 2015 that will test the Holmwood Prospect's identified Portlandian and Corallian sandstone reservoirs and the same Jurassic section that tested oil from Kimmeridge limestones at Horse Hill.

Highlights

· The Acquisition brings the first Weald Basin licence interest to Union Jack`s expanding UK onshore portfolio
· Holmwood-1 is a high impact exploration well with planning consent and is expected to be drilled late 2016/H1 2017
· Europa estimates the unrisked gross mean prospective resources to be 5.6 million barrels with a geological chance of success ("COS") of 33% from the shallower sandstone reservoirs only
· Net well cost expected to be £480,000 and will be financed from Union Jack's existing cash resources
· The drill site is 12 kilometres immediately west and of similar stratigraphy to the Horse Hill-1 discovery
· Further upside resource potential exists from the Jurassic Kimmeridge limestones
· Presence of multiple payzones

Terms of Acquisition

Union Jack is not paying any up-front cash consideration to earn a 7.5% economic interest in PEDL143.

Under the terms of the Acquisition Union Jack, has agreed to pay to Europa:

· 15% of the costs of the Holmwood-1 exploration well up to a gross well cost of £3.2 million (£480,000 net cost for Union Jack)
· Union Jack to contribute 7.5% of the costs in respect of any well costs incurred in excess of £3.2 million
· Should there be a commercial discovery and subsequent development on the licence, Union Jack will pay to Europa back costs of £159,375
· Any payment of back costs are to be made from the net proceeds of the sale of production from any future development of a discovery on PEDL143

Union Jack's contribution towards the cost of the drilling of the Holmwood -1 exploration well will be financed from the Company's existing cash resources.

Holmwood Prospect

During 2015 planning permission was obtained for both the surface well location and underground wellpath for the Holmwood-1 exploration well expected to be drilled during late 2016/H1 2017.

The Holmwood Prospect is a conventional oil prospect first identified by BP in 1988, and is estimated by the Operator to hold gross mean unrisked prospective resources of 5.6 million barrels of oil in the Portlandian and Corallian sandstones with a geological COS of 33%. The P90 - P10 range of prospective resources is 1 to 11 million barrels of oil which is the typical range for the Weald Basin, based on the 14 oil and gas fields that have been discovered and produced in the Weald Basin to date.

The Holmwood Prospect lies 12 kilometres immediately to the west of, and on trend with the Horse Hill-1 discovery well in PEDL137 where earlier in 2016 UK Oil & Gas Investments PLC and their partners reported excellent flow rates from test production from the Upper Portland sandstone reservoir and the Upper and Lower Kimmeridge limestone reservoirs. The Holmwood Prospect also lies approximately 5 kilometres south of the Brockham oilfield that produces from the Portland sandstone reservoir.

The Holmwood-1 exploration well will penetrate similar stratigraphy to Horse Hill-1 discovery including the possibility that oil may be encountered in the Jurassic Upper and Lower Kimmeridge Limestones, in addition to its principal targets in the Corallian and Portlandian sandstone. Possible resources within the Jurassic limestones, equivalent to those discovered at Horse Hill-1 discovery well have not been estimated in the Operator`s mean unrisked prospective resources forecast of 5.6 million barrels of oil and so offer further upside potential.

On completion of this agreement and subsequent transfer of interests, which are subject to Oil and Gas Authority approval the interests in PEDL143 will be:

Europa Oil & Gas Limited 32.5%
UK Oil & Gas Investments PLC 30.0%
Egdon Resources UK Limited 18.4%
Warwick Energy Exploration Limited 10.0%
Union Jack Oil plc 7.5%
Altwood Petroleum Limited 1.6%

David Bramhill, Executive Chairman of Union Jack, commented: "Participation in the Holmwood-1 exploration well is a strategic opportunity for Union Jack and wholly consistent with adding to our portfolio, high impact, drill-ready prospects.

Encouragingly, the Operator rates the Holmwood Prospect highly and believes it to be one of the best undrilled prospects in the UK.

We are pleased to be involved with another quality Operator and look forward to working with Europa and our new partners in this venture."

[moneymunch] 23/5/2016 07:02

Europa Oil & Gas (Holdings
Farm-Out of Holmwood, Weald Basin

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas

23 May 2016

Europa Oil & Gas (Holdings) plc (‘Europa’; or ‘the Company’)

Farm-Out of Holmwood, Weald Basin

Europa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration, development and production company focused on Europe, is pleased to announce it has signed a Farm-Out Agreement (`FOA') in relation to its 40% interest in the PEDL143 licence in the Weald Basin with Union Jack Oil and Gas plc (‘UJO’). PEDL143 contains the conventional Holmwood prospect (‘HolmwoodR17;) which has estimated gross mean unrisked prospective resources of 5.6 mmbo in Portlandian and Corallian sandstones and a P90 – P10 range of resources of 1 to 11 mmbo. Planning permission is in place for a deviated exploration well to be drilled at Holmwood and drilling operations are anticipated to commence in late 2016 / H1 2017.

Under the terms of the FOA:
UJO will acquire a 7.5% working interest in PEDL143 from Europa
UJO will pay 15%, and Europa 25% of the costs to drill an exploration well at Holmwood up to a gross well cost of £3.2 million
For gross well costs above the £3.2 million cap, UJO will pay 7.5% and Europa 32.5%
In the event of a discovery of petroleum on the licence UJO has agreed to make a deferred payment to Europa of £159,375 covering back costs plus a 25% uplift

PEDL143 is located in an area of the Weald Basin where 14 oil and gas fields have been found, resulting in the discovery of an estimated 50 million barrels of oil of which 30 million barrels have been produced to date
Holmwood is 5km to the south of the Brockham oil field discovered by BP in 1987 and now operated by Angus Energy and produces oil from Portlandian sandstone reservoirs
Holmwood lies 12km to the west of the Horse Hill-1 well in PEDL137 where UK Oil & Gas Investments PLC (‘UKOG’) has reported production at a combined average stable rate of over 1,688 bopd from Upper and Lower Kimmeridge Limestone reservoirs and Upper Portland sandstone reservoir during flow tests
Holmwood well will penetrate similar stratigraphy to Horse Hill and will target oil in Upper and Lower Kimmeridge Limestones in addition to Corallian and Portlandian sandstones – prospective resources at Holmwood do not include any estimate for Jurassic limestones found to be producing in Horse Hill
Fulfilment of planning conditions and detailed planning and environmental permitting for the well are all underway
Subject to approval of the farm-out from the Oil & Gas Authority, Europa will retain a 32.5% interest in and operatorship of PEDL143 alongside Egdon Resources (18.4%), Altwood Petroleum (1.6%), Warwick Energy (10%), UKOG (30%), and UJO (7.5%)

Europa CEO Hugh Mackay said, “The farm-out of an interest in Holmwood is in line with our strategy to advance our multistage portfolio of licences while at the same time managing risk. We rate Holmwood as one of the best undrilled conventional prospects in the UK: gross mean unrisked prospective resources of 5.6 mmbo; the presence of multiple payzones; and located in a prolific hydrocarbon producing region close to the Brockham oil field and Horse Hill discovery. We are keen to get the drillbit moving and are working hard to be in a position to commence drilling operations in late 2016 / H1 2017.

“Success at UK onshore prospects such as Holmwood should have a transformational impact on the revenue profile of oil and gas companies such as Europa. We expect to demonstrate this through our Wressle discovery in East Lincolnshire, which is expected to more than double our net production when it comes on stream, targeted in late 2016. Wressle, combined with tentative signs of at least a stabilisation in the price of oil, will provide Europa with a strong cash flow generative platform which we intend to put to good use to monetise our growing asset base of licences, and in the process generate value for our shareholders.”

* * ENDS * *

[theuniversal] 21/5/2016 21:42

Well ive seen 2 interviews with SS and he mentioned in both $40 break even

[moneymunch] 21/5/2016 13:57

The following is relevant to Ukog's Avington, Horndean etc as well as the IoW and is a detailed report by Hampshire County Council into Oil and Gas development in the county.

Demand for oil and gas in the United Kingdom is currently supplemented by imported oil and gas. This factor, in addition to volatile energy prices, has resulted in energy security becoming a focus for national policy. Accordingly, there is a national and local need to secure a sustainable energy supply including suitable oil and gas resources.

Oil and gas development is therefore an important issue for Hampshire as its communities and economy both rely on oil and gas.

Hampshire already has a long history of conventional oil and gas development with three existing active oilfields and associated satellite
sites and infrastructure.

One of Hampshire's oilfields also stores gas underground. Hampshire's in-situ oil and gas resources may provide further opportunities to extract suitable oil
and gas resources to meet growing energy demands, if this represents sustainable
development.

[moneymunch] 21/5/2016 09:50

Ps.....I'm fairly certain that approval will be granted. The UK Gov is clearly committed in getting fracking underway and much of their energy security plans for the UK including gas fired power stations , jobs, revenue etc are now based on the potential gas reserves that will be accessed by the development of the "fracking" shale gas industry. Gl ;-)

[moneymunch] 21/5/2016 08:51

All eyes on North Yorkshire County Council , where a decision is expected on Monday for Third Energy's shale gas "fracking" plans. A defining moment for the whole industry and UK shale , which could provide uplift here, given that development plans for HH and the Weald only involve "conventional" extraction and not fracking, and therefore should be no problems in gaining approvals and permits imho. If nothing else, it should take the protestors spotlight well away from HH, if Third Energy's "fracking" application is approved. gla ;-)

[beebong1] 21/5/2016 07:46

www.ukogplc.com/page.php?pID=83

Shale World UK Presentation 20/05/2016 download pdf.

Is the same presentation as the one from Master Investor if you want to save on your allowance (20mb).

[moneymunch] 20/5/2016 14:22

Cheers Gismo and nice one, it's a life time opportunity for all invested imho, i've got 950k plus in ISA waiting for £'s plus a share, and 600k plus in my trading account waiting for double figures before i take any profit......and so £15k plus profit for every penny rise from here to look forward to. Gl.....BIG news anytime now and significant upside to follow with any luck. ;-)))

[gismo] 20/5/2016 13:40

No problem moneymunch. Thanks so much for all your informative posts both here and on the lse board. I can't see SS selling this once in a lifetime opportunity... not long to wait now me thinks..Just wish I could add to my holding but I've got over a million of these black gold little beauties and I'm not selling!