Uk Oil & Gas Share Discussion Threads

[m0rrisminor] 17/6/2016 21:00

If we stay Albania and the rest will follow and it is the British people who pay for their up keep, just like leeches sucking in the blood from the neck.

[forwood] 17/6/2016 20:09

Gismo - I'm not cross,just sad. I am one of life's optimists and if the leave vote wins, I hope the bad things don't come to pass. It's just i fear they will.

[dudishes] 17/6/2016 19:43

Or 50% loss from a more recent period. Horses for courses and all that. Leni loves you!

[edjge2] 17/6/2016 19:37

bounced of feb support

[gismo] 17/6/2016 17:50

Oh dear, careful of your health there forwood. You might blow a gasket. Yep I shall vote and thousands like me to LEAVE!

[gismo] 17/6/2016 17:33

So what does that prove, I could give you many more who want out! The country will decide!

[gismo] 17/6/2016 17:04

That's your opinion forwood not mine! You say we are not being dictated to, well, I can't buy a certain lawnmower as they claim it's dangerous, no longer can I buy my favourite vacuum cleaner, it's too powerful apparently, my hairdresser has to replace all her dryers in the salon as they too are too powerful and apparently dangerous! I know to you these few things may seem trivial but it's being dictated to. If I want these things then I should be able to have them not to have to obey the rules of the EU because this is what we are doing in these circumstances, obeying them, they are dictating to us. Enough is enough OUT!

[moneymunch] 17/6/2016 16:03

Nutech's last assessment 21/10/15.......the imminent release of the next one will potentially upgrade the oil in place and give estimation of recoverable volumes....looks very likely of national significance to me. Gla holders, Good news coming ;-)

A gross best estimate ("P50") OIP of 15.7 billion barrels ("BBO") is calculated to lie within three Jurassic shale and interbedded limestone tight oil plays underlying the 8 licence areas in the Weald Basin in which UKOG has an interest ("Licence Areas", covering 151 sq miles see Table 2).

Within this gross best estimate, an aggregate net attributable 3.9 BBO P50 OIP is calculated for UKOG's economic interests in the Licence Areas.

The three Jurassic tight oil plays underlying the wider Weald Basin's 1,261 sq mile area (the Area of Interest "AOI") are calculated to contain a gross best estimate P50 OIP of 124 BBO

[gismo] 17/6/2016 15:44

So forwood you would rather live in a dictatorship because this is the way it's going under EU rule. Don't fear so much we will be fine!

[moneymunch] 17/6/2016 15:09

Lol funky, well the Ernst and Young economic study suggests otherwise and the expected Nutech/Xodus report will very likely further validate their assessment of the national significance of the Kimmeridge Interval ie billions of barrels of oil = billions of £'s to UK plc.

[funkmasterp12] 17/6/2016 14:48

It has no national significance! It's not even proven to be commercial or extractable yet.

Honestly, this stuff about the Government taking an interest or about the Nutech report being delayed until after the EU vote is absolute nonsense!!

[moneymunch] 17/6/2016 14:46

Dowgate need the latest data from Nutech/Xodus to estimate a net present value for HH, and no doubt Nutech/Xodus needed full data from Ukog on last weeks acquisitions to enable them to complete their commissioned reports....it must be ready for release now, unless delayed until after Brexit because of it's likely national significance in potential volume and potential future revenue for UK plc. Gla holders.....back to 2p plus in a blink with any luck. ;-)

"Further technical analysis from industry experts such as Nutech or Xodus is required to understand the reservoir, the level of production that can be achieved over a longer period, horizontal well potential, annual depletion rate, etc. Such data would help estimate a net present value for the immediate Horse Hill prospect."

[forwood] 17/6/2016 12:42

There's no correlation between share price and value here in my view. It's going down because some people are selling and one retail mm (CFQ) in particular seems keen to drop the price with one or two larger sells. It's behaving like a shorter. There are 4 on the bid at 1.30, only CFEQ on the offer at 1.35

On the balance of published deals today, there's no apparent reason for it to be off 5.4%. Every other oiler in my list of 16 is blue. Am just wondering whether CFEQ is acting for external interests who want to see a low price. The share price is almost at the lowest point pre the strike.

It is oversold and I expect it will start moving up v soon.

[moneymunch] 17/6/2016 12:08

HH is the first well to flowtest the two limestones within the Kimmeridge interval, many thought the well wouldn't flow from the oil saturated tight Kimmeridge shale/clay, and of course they were correct , but the naturally fissured fractured limestones allowed a flow beyond all expectations and they have high hopes that will be replicated across the rest of their license area's.


Esso undertook exploratory hydrocarbon drilling at Collendean Farm 1 approximately 1 kilometre to the north of the Horse Hill site, in 1964. Although Collendean Farm 1 encountered oil and the well was tested, it did not flow.

Modern mapping has indicated that the well missed the target and crossed to the downthrown side of the bounding fault, which defines the limit of a hydrocarbon accumulation.

[beebong1] 17/6/2016 11:29

forwood
There are 13 producing sites in the Weald basin. Brockham, Horndean and Storrington to name a few, some with multiple wells. Palmers Wood has had about 11 and yet maximum annual production peaked at about 7000 tonnes of oil per annum. Until HH can "produce" oil and give 1P, 2P and 3P figures and prove across the Weald at other sites I stick with my views. Have seen too many caught out before where they have lost thousands.
The maximum flow rate was under 1000bopd and that was for the upper level over a short period. The extended test due needs to prove this can be achieved over a long term otherwise why would they commission it when they had such "good" results during what was supposed to be an extended well test last time but never exceeded 9.5 hours duration which IMO is too short a period.
What none of us can explain is the flow rates and where they came from. It was a pretty bad prognosis from the original drill and the logging. Just goes to show that you can drill 100m from a non-commercial well (or does Collendean-1 have the same potential) and find a hot spot but can that be replicated?

Hardly pre brexit blues as majority of mine are in the blue today so far.

[forwood] 17/6/2016 11:19

If we vote to leave the EU, the consequences will be dire. Expect a 20-30% drop in the ftse and pound, inflation, recession and a long term decline in all markets and public services. House prices will fall, jobs will be lost, pensions threatened, the nhs will be unaffordable. We have already seen how this divisive debate has stirred nationalistic race hatred and protectionism. That can quickly get ugly as seen yesterday with the death of Jo Cox. I do not wish to grow old in such a country.

Fortunately, I don't think it's going to happen.

[moneymunch] 17/6/2016 10:46

Pre-Brexit blues, post Brexit bounce more than likely especially on the back of a stellar reserves upgrade. Gla :-)

[forwood] 17/6/2016 10:17

Looking very oversold here, and on a support line. Get ready for a substantial bounce!


free stock charts from uk.advfn.com

[moneymunch] 17/6/2016 09:48

Long term prospects are the same as long term investment potential in my book.....otherwise I wouldn't have described it those terms.