Uk Oil & Gas Share Discussion Threads

[moneymunch] 30/6/2016 17:03

Onshore Extended Well Tests (EWT)

OGA may authorise extended periods of test production (extended well tests
–EWT) from exploration or appraisal wells prior to the approval of a Field Development Plan if it can be demonstrated the licensee will thereby gain technical understanding or confidence in the performance of the field needed to progress towards a development.

The EWT should have realistic and definable appraisal objectives essential to the success of a development, and not be prejudicial to ultimate recovery. A plan of operations and explanation of why the intended completion and testing techniques are appropriate to test each stratigraphic level is required.

There are no strict criteria governing the maximum volume to be produced or the duration of an EWT, but they are usually issued for 90 days to allow for operational delays.

Duration may be extended if there is technical justification, but EWTs are not an alternative to production under an approved Field Development Plan .

EWT consent requires a formal letter of application containing the following info:

(a) the Relevant Works which the Licensee proposes to erect or carry out during that period.

“Relevant Works” is defined as: “any structures and any other works whatsoever which are intended by the Licensee to be permanent and are neither designed to be moved from place to place without major dismantling nor intended by
the Licensee to be used only for searching for Petroleum”.

(b) the proposed location of the Relevant Works (pad area coordinates shown on a plat that forms part of the MW permit), a detailed plan of activity, objectives of the test and the requested duration.

(c) maximum quantities of oil and/or gas to be produced and saved or flared/vented in the period of the requested EWT (in tonnes and cubic metres).

(d) Proof of planning consent. OGA will check with the appropriate environmental regulator that the required environmental permits are in place and that the Health and Safety Executive have reviewed the plans before
consenting to the proposed EWT.

There is no obligation to proceed with a Field Development Plan following but
if a significant amount of oil and/or gas is to be saved during the EWT, a field determination may be required.

Throughout the test the operator must keep OGA informed of activity and must submit to OGA monthly oil, gas and water production figures. Please email these at the end of each month to [e-mail]

Within 30 days of completion of the EWT, the Operator must submit to OGA an EWT report fully describing the test results.

[moneymunch] 30/6/2016 13:09

We're waiting on confirmation that the Secretary of State / OGA has approved the extension to PEDL234 which is expected today and is conditional for Ukog's purchase. We also know that PEDL231 and 243 expire today, and Mpet suggested that Ukog will be the recipient and so extension news on these very likely and hopefully confirmation all 3 license area's have gone to Ukog.



"The overall transaction is subject to formal consent by the Secretary of State. Both Celtique and Magellan have now signed the necessary Deed of Variation with the OGA to confirm a two-year extension of PEDL234 to 30 June 2018."

Mpet still have 35% of HH Pedl137 and so it should be interesting to find out how much they hold on to. The Nutech/Xodus report to follow thereafter just as soon they know Ukog's total % interest. Gl TU.....upward momentum from now on in. :-)))

[theuniversal] 30/6/2016 12:43

Moneymunch any news on mpet...Can they get an extension or is it delist

[niceyman1] 30/6/2016 08:18

Watch this move up today as the buyers return.

[niceyman1] 30/6/2016 08:16

British bulls buy rating!

[beebong1] 30/6/2016 08:04

Even the euro's don't want the jocks so you will be stuck subsidising them.

[moneymunch] 29/6/2016 19:57

Brent back to $50 plus and rising....gla holders, more news tomorrow ( or Friday ) very likely from the OGA on PEDL 234 license extension and maybe 231 and 243 to Ukog.

[beebong1] 29/6/2016 19:35

Rayrac
Don't worry. They were probably copies of those posted previously.

[rayrac] 29/6/2016 19:11

message from advfn

The BB has been down since 2pm this afternoon and we have decided to revert to midnight last night rather than reinstate posts from them until the system outage. This reinstatement would take several more hours to complete and we have decided to forego that delay and reopen the BB now. The missing posts are unlikely to be reinstated but engineers will work to try to establish if it is possible to re-inject them latter.

[rayrac] 29/6/2016 19:01

Just two?!

[rayrac] 29/6/2016 17:58

I can't get today's tripe!😅

[beebong1] 28/6/2016 19:27

They obviously can't make their mind up despite getting stellar flow test results, double increased acreage in the Kimmeridge and publication of the major re-rate EY Report and yet it is still "under review" at 5p and yet the share price remains less than a third of that.
I find that quite strange but don't quote me on that!