Uk Oil & Gas Share Discussion Threads

[moneymunch] 25/5/2016 10:32

Lol, more like "due diligence" from experienced industry players in relation to data from HH.....speaks volumes and suggests confidence in that the Kimmeridge limestones will hold oil in volume elsewhere in the Weald. Gl :-)

Big news from Nutech etc anytime now. Gla holders; -)))

[beebong1] 25/5/2016 10:14

It's not only PI's that take a punt!

Union Jack Oil PLC (LON:UJO) Executive Chairman David Bramhill caught up with DirectorsTalk to discuss the acquisition of interest in the PEDL143 licence

Q1: David, you announced earlier today that you’ve reached an agreement with Europa Oil & Gas to acquire a stake in the PEDL143 licence, what was the reasoning behind the acquisition?
A1: Well really we’d got a lot of licence interest up in the north & we just thought with, I suppose, the success of Horse Hill discovery, the closeology, 143 is basically on the doorstep, same trend & it’s got a very very high prognosis pre-drill oil in the ground so we entered into discussions with Hugh Mackay, Europa, again good operator, same as Egdon that were involved with these two parties now which is terrific.

Q2: Do you think you can talk us through the highlights of today’s news?
A2: Well the highlights is really the closeology, it’s an expansion for us because we were up in the north, we’ve now sort of in the south as well which is good, there’s a good chance of success, it’s good onshore & any back costs being paid out of potential production. So there’s a lot of good things going for this acquisition, we’re pleased.

[moneymunch] 24/5/2016 17:26

Good news coming...gla ;-)


KIMMERIDGE LIMESTONE OIL PRODUCTION

Can be produced with low visual impact
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12-24 wells in 4-6 acre site
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Wells and pumps below ground level
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Control production to reduce initial road tanker impact
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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
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Consolidate and increase licences holding in Weald Basin - control the Kimmeridge Oil play
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Bring Horse Hill/Gatwick Gusher to production
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3x 90 day production tests (2016)
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3D seismic (2017)
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Horizontal production wells (2017)
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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)

[moneymunch] 24/5/2016 17:14

CNN Money

Extreme turbulence may be the new normal for the oil market.

That's the message from Citigroup, which on Tuesday became the latest oil bear to defect to the bullish camp. Edward Morse, Citi's commodities guru, believes oil prices could rise to $61 a barrel by next year because the epic supply glut may soon be over. That echoes a recent optimistic call from from Goldman Sachs.

But Morse also has a warning for investors: oil prices are likely to gyrate way more than they used to. Of late, it's not unusual to see oil prices move up or down by 3% to 4% on an intraday basis.

"The brave new world of petroleum promises to be volatile and the 'new normal' for oil makes stability elusive," the Citi strategist wrote in a research report.

[moneymunch] 24/5/2016 12:58

Lol, no but we know the reserves upgrade is coming, and Mpet and/or fund raising could be the reason why it hasn't arrived yet....as well the possibility that the numbers are so huge, that it's being double checked and double checked before it takes the market by storm. GL :-)

[funkmasterp12] 24/5/2016 12:30

So no, then... ;)

[moneymunch] 24/5/2016 11:30

Dyson, Hoover et al....gl :-)

[moneymunch] 24/5/2016 11:30

Lol funky, Mpet have announced the monetisation if their assets in Australia and the UK, specifically HH. The sale of the Australian bonus asset was concluded last Thursday and next on their list is HH.....Ukog have stated that they intend to increase their interest in the Weald and therefore Mpet provides the perfect and timely opportunity, given the Finacial distress that Mpet are in......Ukog still have a few million in the bank, but probably needs more if they want some of Mpet's 35% and so a fund raising is the most likely scenario, to enable Ukog to acquire more of HH but also provide enough cash in the bank to satisfy new investors, which no doubt will include the city institutions.

The reserves upgrade and estimation of recoverable volumes from Nutech and Xodus is also overdue, and imho is being held back until until Mpet show their hand ( they have until the end of June to find enough cash to stop them being delisted from NASDAQ ) and so it's more than plausible that news of a fund raise, acquisition and reserves upgrade is likely, and as we've seen no big selling in volume under 1.93p and no big buys over 2p for weeks, it's also very likely that any potential placing would be within this range....we're going to find out very soon imho....gl :-)

[funkmasterp12] 24/5/2016 11:09

Do you have ANY substance to back up any of those claims? Specifically

- That a placing will be between 1.93p and 2p
- That stock is being "quietly hoovered up" (surely an oxymoron)
- That MPET and UKOG are in talks

I don't think you have any and are making guesses. And not even educated ones. I worry that you're descending into fantasy and not looking at the facts.

[moneymunch] 24/5/2016 10:52

Lol funky, the consolidation of share price at c2p for weeks suggests a placing is very likely soon, at a price above 1.93p and below 2p...no big buys over 2p for weeks but no big sells in volume under 1.93p and everything in between appears to be quietly hoovered up. The delay in the fund raise no doubt is related to negotiations with Mpet fot acquisitions of some or all of their 35%, which is also holding up the release of the reserves upgrade imho.....Big big news imminent and a significant rise in share price as new investors rush in, to a fully funded Ukog and a stellar reserves upgrade.....exciting times :-)

[funkmasterp12] 24/5/2016 10:39

Well, the good news is that it doesn't look as if a placing is in the offing yet. Given the current trend du jour we've seen elsewhere to alleged forward selling of placings, I'd expect the share price to go down before a placing is announced.

The bad news though is that nobody is interested. Presumably as all of the good news is in the price, but none of the bad news is.

The company is still way off any of its major goals and the sooner it can get away a funding, the better imo.

[moneymunch] 24/5/2016 10:31

IGAS top riser today

on the back of Third Energy's fracking approval.......C'mon Ukog, let's get the share price moving on news of the fund raising, acquisition and stellar reserves upgrade on the potential billions of barrels accessible by "conventional " extraction......gla massive re-rate for a fully funded Ukog with increased HH % interest and free flowing high quality oil in recoverable abundance. ;-)

[moneymunch] 24/5/2016 08:23

ps maybe a consultancy role for UK Gov.....now that would be good...;-)

[moneymunch] 24/5/2016 08:22

or Angus, he did tweet that his involvement was private and non-notifiable, Mpet would be notifiable???

UKOG
DL Tweet 4
Mon 22:21

@BLAIMGame @paul_rx8 No. Totally private and not news releasable but very pleased to be maybe helping the Weald development for the UK.

[kwizza] 24/5/2016 08:15

wonder if DL is involved through mpet only a thought

[moneymunch] 24/5/2016 06:46

No problem mortie, Mpet are desperate for cash and have already completed the sale of their Australian bonus asset on 19th May 2016, and next on the list of assets to be monitized is 35% of HH.....so the fact they have a free carry for the extended flowtest, it might make sense for Mpet to hold on to 10% or so, and hopefully allow Ukog to acquire the lion share and maybe DOR et al to acquire the rest??? We should know soon enough. Gl ;-)

[mortie1] 24/5/2016 06:31

mm, right, thanks.

[moneymunch] 24/5/2016 06:29

David Lenigas ‏@DavidLenigas now37 seconds ago
I can't wait to show the UK how the Weald can produce oil sooner rather than later :) let's see how I go.

[moneymunch] 24/5/2016 06:26

A defining moment for UK Onshore oil and gas exploration.....gla ;-)

Bloomberg

U.K. Approves Fracking First Time Since 2011 as Gas Output Sinks

May 23, 2016 — 7:28 PM BST
Updated on May 24, 2016 — 12:00 AM BST


The U.K. may have as much as 26 trillion cubic feet of technically recoverable shale gas, the U.S. Energy Information Administration said in 2013, or about nine years of the nation’s gas consumption. It should become clearer whether other companies will be able to resume fracking in the U.K. by the end of the year.

Third Energy’s gas application, filed in June 2015, requested permission to fracture an extension of a well drilled in 2013 in the northern English countryside and carry out associated clean-up and monitoring activities. The company estimates the fracking will be completed within eight weeks and says the purpose is to flow test gas to help determine the volume of reserves in the Bowland Shale.

An application by Cuadrilla to drill eight exploratory wells in northern England has been under consideration by local officials for three years and will be decided on by Secretary of State for Communities Greg Clark by July 4. Ineos Group, the U.K.’s largest closely held company by sales, expects fracking in the country within two years and estimates seismic surveying will be completed in about six months. IGas Energy Plc is looking at existing data on exploration blocks awarded to it by the U.K. government to determine areas rich in shale gas deposits.

Units of Engie SA and Total SA also have interests in “unconventional” oil and gas exploration blocks in the U.K., according to government filings.

Approval of Third Energy’s application will be “a good thing for industry,” Tom Pickering, operations director at Ineos Shale, said in an interview before the decision. “Seeing those small steps is crucial to just winning public respect.”

[moneymunch] 24/5/2016 06:21

Not my opinion....fact as per Mpet's SEC Filing 13th May 2016. Gl ;-)

Table of Contents

In the UK, the Company's interests are governed by various PEDLs and one Seaward Production License. PEDLs 231, 234, and 243, which the Company co-owns equally with Celtique, are subject to "drill-or-drop" obligations with a deadline of June 2016. As previously reported, the Company received a cash call from Celtique for the advancement of estimated expenses in the amount of approximately $2 million in connection with the Broadford Bridge-1 well, and the Company is evaluating its alternatives under the applicable joint operating agreement.

Also as previously reported, Celtique initiated a legal proceeding against the Company with respect to that cash call and related issues. See Note 15 - Commitments and Contingencies - Celtique Litigation of the Notes to accompanying condensed consolidated financial statements included in this report for further information. The Company cannot predict the ultimate outcome of this matter, which may have a material effect on the ultimate amount and/or timing of the Company’s capital expenditures with respect to PEDLs 231, 234, and 243.

In the UK in PEDLs 137 and 246, where Horse Hill was drilled, the cost of the completed flow test and potential future extended flow test are due to be fully paid by HHDL in accordance with the terms of the farmout agreement between HHDL and MPUK.

[mortie1] 24/5/2016 04:13

mm, I have seen that Mpet have a free carry up to the flow test, but you say "as they have a free carry up to and including the 90 day production flowtest". Do have anything to support that, given that a more limited flowtest has already taken place, or is it just your opinion?

[moneymunch] 23/5/2016 21:50

ps TU, Given the massive potential i wouldn't be surprised if Mpet hold on to at least 10 to 15% of their HH interest as they have a free carry up to and including the 90 day production flowtest.....and the rest goes to Ukog and maybe even DOR or similar taking a bit......maybe DL is hinting at a consultancy role for Mpet or another???? Gl ;-)

[moneymunch] 23/5/2016 21:41

David Lenigas ‏@DavidLenigas 2h2 hours ago

Looks like I'm getting re-engaged in the massive Weald Basin oil play. Very exciting. I can't tell you which entity. It will change the UK!

[moneymunch] 23/5/2016 21:39

Anytime now TU, Mpet's monitization of their 35% is holding up proceedings. GL ;-)

[temmujin] 23/5/2016 20:07

BIG SOLO news tomoro