Uk Oil & Gas Share Discussion Threads

[moneymunch] 03/7/2016 11:19

Lol, no but anyone would think that you are , in your display of so much incessant pettiness...pmsl.....Gla holders. ;-)

[beebong1] 03/7/2016 10:37

moneymunch
Wrong again. 30th June is the infamous link to PEDL's 231 and 243 licenses being ended.

30 June 2016 9:00am
Status of licences with licence event date of 30 June 2016 - (added)
13 June 2016 10:27am
Oil & Gas: Updated Basic onshore well data.
3 March 2016 12:49pm
Oil and Gas Authority: Updated Extended well tests and Hydraulic Fracture Plan
9 October 2015 10:49am
Oil and Gas: Updated document for Basic onshore well data
28 September 2015 11:48am
Basic onshore well data - (updated)
15 June 2015 9:18am
Onshore well data - (updated)

It was a different page I posted which had more information on in case you hadn't noticed.

Sticks and stones. Are you still at school? Lots of schoolboy errors being made.

[beebong1] 03/7/2016 10:08

moneymunch

Wrong again. The Extended well tests and Hydraulic Fracture Plan
EWT and HFP guidance (PDF, 257KB, 3 pages)
which you have just published was updated on

3 March 2016 12:49pm
Oil and Gas Authority: Updated Extended well tests and Hydraulic Fracture PlanExtended well tests and Hydraulic Fracture Plan
EWT and HFP guidance (PDF, 257KB, 3 pages)

www.gov.uk/government/uploads/system/uploads/attachment_data/file/504898/Onshore_EWT_and_HFP_Feb2016.pdf

OGA guidance for EWTs and HFPs

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.

You really do need to carry out due diligence before you post IMO.
Your bucket really is full of holes now.

[moneymunch] 03/7/2016 10:05

Lol and so the second term license extensions for PEDL 231 and 243 are in place, and as of 30th June the licenses were relinquished by Mpet and Celtique. Let's wait and see who will be the new licensee for 231 and 243, as no doubt an application will have been made to the OGA given their strategic importance in relation to the Weald Basin oil saturated sweet spot. Gla holders ;-)

[beebong1] 03/7/2016 09:55

Oh moneymunch

If you look at all the other PEDL's assigned in 2008 they are nearly all the same. All PEDL's ahve 2nd term and enddates. The webpage has not been updated since January 2016.
Licence Start Date 01/07/2008
Initial Term End Date 30/06/2016
Second Term End Date 30/06/2019
Licence End Date 30/06/2039 (Anticipated)

You should know as you are the one that always point out any recent updates.


Starts at PEDL 162 through to PEDL255

www.gov.uk/guidance/oil-and-gas-licence-data

Published:
22 January 2013
Updated:
18 January 2016
+ full page history
18 January 2016 2:37pm
Updated Recent and current Exploration Licences document
9 October 2015 11:05am
Oil and Gas: Updated document for Recent and current extant exploration licences.
13 February 2015 11:00am
Oil and Gas: Update of extant licences pdf
12 February 2015 1:27pm
Oil and Gas: Update of current extant licences pdf
20 January 2015 9:25am
Oil and gas: Exploration Licences - (updated)
24 October 2014 2:36pm
Oil and gas: Recent and current extant exploration licences - (updated)
28 July 2014 12:00pm
Oil and gas: Recent and current extant exploration licences - (updated)
3 July 2014 2:39pm
Oil and gas: Recent and current extant exploration licences - (updated)
20 June 2014 11:59am
Oil and Gas: recent and current extant exploration licences document updated
3 June 2014 12:09pm
Oil and Gas: licensing offshore/onshore export reports link added
21 October 2013 10:58am
Oil and gas: 2013 Licence relinquishments - (updated)
2 September 2013 9:44am
2013 Relinquishments updated
2 July 2013 12:30pm
2013 relinquishments - updated
11 June 2013 11:05am
2013 Oil and gas licence relinquishments - updated
3 May 2013 10:37am
2013 relinquishments - updated
28 March 2013 12:17pm
2013 Relinquishments updated
4 March 2013 9:51am
2013 Relinquishments updated
22 January 2013 10:59am
First published.
From:
Oil and Gas Authority
More like this

If you think that is grief and derision you really are deluded IMO.

Just a random sample.

Licence PEDL254
Status Extant
Licence Start Date 01/07/2008
Initial Term End Date 30/06/2016
Second Term End Date 30/06/2019


Licence PEDL162
Status Extant
Licence Start Date 01/07/2008
Initial Term End Date 30/06/2016
Second Term End Date 30/06/2019

Licence PEDL204
Status Extant
Licence Start Date 01/07/2008
Initial Term End Date 30/06/2016
Second Term End Date 30/06/2019

[moneymunch] 03/7/2016 09:32

Last updated 30th June 2016


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.

[beebong1] 03/7/2016 08:52

moneymunch
And yet no new price target despite the flow rate, publication of the E&Y study, increase in % of HH and new acquisition.

They have updated it on far less.
e.g.
Commencement of flow test. No new information.
Conclusion of flow test
Final results
Update on flow test
Acquisition of new interest. Only 20%

Leaking bucket never holds water.

[beebong1] 03/7/2016 08:35

IMO something has already been submitted to the OGA for HH otherwise PEDL 137 would have appeared on the recent update to licences.

2nd term of licence expires on 30/9/16

"The second term is intended for appraisal and development. It is 4 years for Seaward Production Licences and five for Petroleum Exploration and Development Licences. Both licences will expire at the end of the second term unless the Secretary of State has approved a development plan."

[funkmasterp12] 03/7/2016 05:39

Dowgate were paid by UKOG, their opinion is meaningless imo.

[beebong1] 02/7/2016 21:23

They also said this this about ALBA in May 2015 when it hit a maximum of about 0.7p a share, currently 0.18p. They were however the broker for ALBA and pretty obvious why they issued a note on UKOG.

Low Case: 2.4p
Base Case: 9.4p
High Case: 57.8p

They have since changed this to;

5th May 2016 - 14:30
Dowgate Capital today reaffirms its buy investment rating on Alba Mineral Resources PLC (LON:ALBA) and raised its price target to 16.50p (from 11.10p).

Not sure they have quite got the hang of predictions and have never had a connection to UKOG.

Obviously you have to factor in UKOG own broker did not agree with Dowgate as you can see. WH Ireland have not said anything of note since 1 Mar 16.

www.directorstalk.com/711282-2/

Date Broker name New Price Old price target New price target Broker change
09-Mar-16 WH Ireland Buy 2.43p - - Under review
26-Feb-16 WH Ireland Buy 2.68p - 5.00p Reiteration
16-Feb-16 WH Ireland Buy 1.98p - 5.00p Reiteration
08-Feb-16 WH Ireland Buy 1.33p - 5.00p Reiteration
09-Jul-15 WH Ireland Buy 1.98p 5.00p 4.50p Reiteration
09-Apr-15 WH Ireland Buy 2.98p - 1.30p Reiteration
25-Mar-15 WH Ireland Buy 0.83p - 1.30p Reiteration
09-Mar-15 WH Ireland Buy 0.64p 1.30p 1.30p Reiteration
18-Feb-15 WH Ireland Buy 0.56p 1.30p 1.30p Reiteration
28-Jul-11 Sanlam Securities Hold 0.94p 0.73p - Reiteration
13-Oct-10 Cantor Fitzgerald Buy 1.88p 4.00p - Reiteration

[rayrac] 02/7/2016 11:23

Petebreeze. I'm holding some, imo it's def worth a punt and btw, I made a lot of money out of GKP, it financed me in all kind of ways. Just lucky to go to a meeting where the ex CEO performed like an idiot. Out within the hour with most, the rest a bit lower @ 85p.

At least this one, if it really makes it, will be on home soil!

Btw mm, I still hold on to TRP, never know, Asher won't ditch, so I'm in for the ride whatever!

[lithological heterogeneities] 02/7/2016 08:37

obviously you have to factor in dilution since the broker report but I think it still shows the enormous potential here.

this is going to be big imho...real BIG.

[lithological heterogeneities] 02/7/2016 08:34

Last years broker targets before this years "stellar" flow test results,doubling of acreage,imminent Nutech upgrade Report and possible new broker report/target prices due to large material changes since last years report:

Dowgate Capital Broker Report, UKOG - STRONG BUY
07 Jul 15


Price Target:

03.7p.....Low Case
13.1p.....Base Case
87.9p.....High Case

[moneymunch] 02/7/2016 08:32

ps petebreeze, and maybe at least one barrel of oil recoverable net to Ukog for every share in issue. Gl ;-)

[moneymunch] 02/7/2016 08:24

We have c£7m cash in the bank following the £4m placing, less £1.25m to Mpet/Celtique when the purchase of 234 is confirmed now that the license extension is in place, and we still have the $9.6m credit facility for emergencies, although probably not needed given the potential significant revenue stream from the sale of the test oil from the expected 90 day production flowtests at.....27.3% net to Ukog at the moment, unless of course they plan to grab another 10% from Mpet's 35%....watch this space....news next week i reckon, clarifying all transactions....and then the Nutech/Xodus report when they know exactly how much of the Weald Ukog owns. GL EXCITING TIMES AHEAD and POTENIAL SIGNIFICANT IMMINENT UPSDE imho!!! ;-)))

[petebreeze37] 02/7/2016 08:21

Hi Rayrac,

I see you're still your old blunt but truthful self. I've been reading about this share and it seems as if it could be another GKP and 3 billion shares is massive.

Is this share worth a punt?

[moneymunch] 02/7/2016 08:08

Good Morning again Ray, unlike TRP we know this time around that there is oil in place, and loads of it by the looks of it, high quality, the sweetest crude, free flowing and potentially breathtaking recoverable volumes.....gl ;-)

[moneymunch] 02/7/2016 07:55

but who is going to acquire Mpet's/Celtique PEDL243 and 231 both relinquished as of 30th June because of "drill or drop", and both in and around of the sweet spot of the Kmmeridge limestones of HH and the Weald.

According to Mpet's press release 13th June, confirming the acquisition of PEDL234, UKOG were also to acquire 231 and 243.....if this is the case, then presumably Ukog would have to put in an official application to DECC/OGA .........unless of course they have competition from another.....hopefully a Major who wants Mpet's 35% interest at HH at the same time....... watch this space!!! gl ;-)

[rayrac] 02/7/2016 07:52

Good morning munchmoney.😍

[moneymunch] 02/7/2016 07:43

Lol Gismo, no need of any apologies from Ray, he's one of us really, but just getting bit cantankerous in his old age....Good Morning Ray...Gl ;-))))

[gismo] 01/7/2016 16:28

And so am I, this is going to the MOON!! lol Rayrac I really do trust SS he is building a brilliant portfolio and these matters take time. Why would he release the Nutech report when he's still buying assets? The report just wouldn't show the true valuation. It will come out soon and I don't think you will ever see these levels again. Yep, we need money for development but I have a feeling there is someone in the background willing to come forward on that one. Think positive and have a good weekend all. Gis