Uk Oil & Gas Share Discussion Threads

[datait] 05/7/2016 08:09

The daftys wont get back in cheaper lol

[moneymunch] 05/7/2016 08:08

PEDL234 acquisition from Mpet 13/6/16

The overall transaction is subject to formal consent by the Secretary of State to:

- a proposed minimum one-year extension, to at least 30 June 2017, of the initial term of the Licence.

- the change of control to CEWL resulting from the SPA
- the transfer of Magellan's interests in the Licence and P1916


News Imminent!!! ;-)

[datait] 05/7/2016 08:08

mm will want weak sellars before they take it up.

[datait] 05/7/2016 08:04

I think they were waiting on the licences before the report so anytime now.

[supercity] 05/7/2016 07:51

TLOU - put it on your monitor...massive rns

[beebong1] 05/7/2016 07:48

No mention of what is happening to P1916 which is the only other license area coming towards it's end.

Licence P1916
Status Extant
Licence Start Date 01/02/2012 (Executed 12/07/2012)
Initial Term End Date 31/01/2017
Second Term End Date 31/01/2020
Licence End Date 31/01/2038 (Anticipated)

edit
Still no news on PEDL 331.

[datait] 05/7/2016 07:43

Stephen Sanderson, UKOG's Executive Chairman, commented:

"The conversion of the Horse Hill Licences to the new 14th round licence terms is particularly valuable to the Company. We can now move our stated Portland and Kimmeridge Limestone appraisal and development programme forward over Horse Hill in the certainty that we can retain 100% of the entire 55 square mile licence without the necessity of any future relinquishments.

Similarly, the Broadford Bridge PEDL234 extension now formally enables Kimmeridge Oil and Gas to drill the Broadford Bridge well and submit planning consents for a second well over the extension of the Godley Bridge Portland Gas discovery.

Additionally, the extension of Baxters Copse gives us further time to assess the economic viability of the BC-1 Oolite oil discovery and fully assess any Kimmeridge Limestone potential.

These extensions, plus the recently announced Holmwood PEDL143 extension, give us a clear 2-year window in which to deliver commerciality at Horse Hill and demonstrate the repeatability of the HH-1 discovery results over the basin."

[datait] 05/7/2016 07:39

Brilliant news now we shall get the reports out, expect the report to be released sometime today.

[moneymunch] 05/7/2016 07:24

All fine and dandy....now does that mean we can now look forward to the imminent release of the Nutech/Xodus reserves upgrade and estimation of recoverable volumes, or has SS and Ukog more acquisition news in the pipeline for us??? Gla holders.....ON and UP!!! ;-)))

[moneymunch] 05/7/2016 07:05

UK Oil & Gas Inv PLC (UKOG)

Key Licence Extensions, Weald Basin
RNS Number : 2127D

05 July 2016


UK Oil & Gas Investments PLC

("UKOG" or the "Company")

Key Licence Extensions, Kimmeridge and Portland Region, Weald Basin



UK Oil & Gas Investments PLC (LSE AIM: UKOG) is pleased to announce that the Oil and Gas Authority ("OGA") has granted two licence extensions, and three licence conversions to new model terms for the following licences in which the Company has material interests:

· Horse Hill ("HH") PEDL137 and PEDL246 (Company Interest 27.3%): At the election of the Operator, Horse Hill Developments Ltd, the licences will adopt the 2016 14th Round licence terms, permitting the HH Licences to continue without further relinquishment. A Retention Area ("RA") covering the entire 55 square mile licence area and an outline work programme has been agreed with the OGA. The RA will continue throughout the agreed work programme period currently due to expire on June 30, 2018 for PEDL137 and June 30, 2017 for PEDL246. The HH Licences forward work plan includes long-term production testing of 3 Kimmeridge Limestone zones plus the overlying Portland, two contingent appraisal/development wells and 3D seismic.

· Broadford Bridge ("BB") PEDL234 (Company interest 100% via ownership of Kimmeridge Oil and Gas Ltd): A two-year extension of the Initial Term of the licence to June 30th 2018. The Licence contains a constructed well pad and regulatory permissions to drill the BB-1 Kimmeridge Limestone well, a look-alike Kimmeridge prospect to the Horse Hill-1 Kimmeridge Limestone oil discovery. The licence also contains the mapped eastern extension of the Godley Bridge Portland gas discovery with excellent underlying Kimmeridge potential which will be tested by a new appraisal well subject to obtaining necessary regulatory consents.

· Markwells Wood PEDL126 (Company Interest 100%): The licence will now adopt the new 2016 14th Round licence terms permitting the Licence to continue without further relinquishment. The RA will continue throughout the agreed work programme period currently set to expire on June 30, 2017. The Licence's forward work programme includes obtaining planning permission for a phased oil development and the submission of a Field Development Plan.

· Baxters Copse PEDL 233 (Company Interest 50%): A two-year extension of the Initial Term of the licence to June 30th 2018. The Licence contains the Baxters Copse-1 ("BC-1") Jurassic Oolite oil discovery. The extension will permit an oolite appraisal well and possible Kimmeridge limestone test to be drilled subject to obtaining necessary regulatory consents.

Stephen Sanderson, UKOG's Executive Chairman, commented:

"The conversion of the Horse Hill Licences to the new 14th round licence terms is particularly valuable to the Company. We can now move our stated Portland and Kimmeridge Limestone appraisal and development programme forward over Horse Hill in the certainty that we can retain 100% of the entire 55 square mile licence without the necessity of any future relinquishments.

Similarly, the Broadford Bridge PEDL234 extension now formally enables Kimmeridge Oil and Gas to drill the Broadford Bridge well and submit planning consents for a second well over the extension of the Godley Bridge Portland Gas discovery.

Additionally, the extension of Baxters Copse gives us further time to assess the economic viability of the BC-1 Oolite oil discovery and fully assess any Kimmeridge Limestone potential.

These extensions, plus the recently announced Holmwood PEDL143 extension, give us a clear 2-year window in which to deliver commerciality at Horse Hill and demonstrate the repeatability of the HH-1 discovery results over the basin."

[beebong1] 04/7/2016 22:23

Release date is the date well data can be released. The confidentiality period varies.

[moneymunch] 04/7/2016 21:43

The Basic Onshore Well Data ( Updated 13/6/16 ) from the UK Gov Oil and Gas exploration and production portal ( Updated 30th June 2016 ) has the release date of PEDL137 as 4th November 2018.......no idea if this means that this is the new extension date for the license???? Gla ;-)

[niceyman1] 04/7/2016 13:37

Tick-up on the way?

[datait] 04/7/2016 12:26

buying now showing in red again.

[datait] 04/7/2016 12:23

Told you dont be fooled into selling as mm's want to take this up now.

[datait] 04/7/2016 12:22

All mm moving up just like I said folks only one at 1.50 then woosh up we go again grab it quick.

[datait] 04/7/2016 12:21

zip up coming british bulls have it tipped

[datait] 04/7/2016 12:20

whatch this move up bigtime

[datait] 04/7/2016 12:20

report due at anytime now

[datait] 04/7/2016 12:20

news on the way