Uk Oil & Gas Share Discussion Threads

[moneymunch] 16/7/2016 10:08

The EIA decision on Markwell's Wood is surprising, although it's location is obviously a factor and the potential recoverable volumes....Horndean is in spitting distant and so maybe they might appeal, the average EIA process is 11.6 months.

Whilst all applications must be assessed on a case-by-case basis, it is unlikely that an Environmental Impact Assessment will be required for exploratory drilling operations which do not involve hydraulic fracturing. However, when considering the need for an assessment, it is important to consider factors such as the nature, size and location of the proposed development (selection criteria for screening Schedule 2 development are set out in Schedule 3 to the Regulations).

Applications for the production phase are also likely to fall under paragraph 2 of Schedule 2 to the 2011 Regulations, in which cases they should be screened for likely significant effects, but applications where more than 500 tonnes of oil or 500,000 cubic metres of gas will be extracted per day may fall under Schedule 1, in which case an Environmental Impact Assessment is mandatory.



INTRODUCTION

Directive 2011/92/EU requires an Environmental Impact Assessment (EIA) of projects likely to have significant environmental effects, prior to their authorisation.

It explicitly aims to harmonise the EIA principles by introducing minimum
requirements. As part of the permitting process, the EIA also assesses the
environmental costs and benefits of projects to ensure their sustainability

.
Average n° of EIAs: 15000 to 26000/year

Average n° of screenings: 27400 to 33800/year

Average duration of the EIA process: 11.6 months

[moneymunch] 16/7/2016 09:46

Not at all...Mpet's 35% is there for the taking, they're obviously in dire need for cash, and so it should be interesting what they decide to do, and who gets some or all of the 35%....a new player in the form of a Major is a distinct possibility, but another 10% or more for Ukog could also be on the cards. Gla holders ;-)


Further adjustments are a cash infusion of $2.56 million because of the sale of the Merenie bonus rights sale and a downwards revision of cash by $0.6 million due to the Celtique settlement.

That means we are looking at something like $10 million of mostly liquid assets and $4 million of liabilities. By buying the stock at a market cap of around $7 million we are effectively paying around $1 million for the Horse Hill and Australian Offshore assets, not too mention the value of the U.S. publicly traded shell.

The remaining problem is the burn rate. Last quarter the company still lost $1.6 million from operations. Almost all of it because of SG&A. I'm uncertain about the current burn rate. It would be wise by management to cut it back further or to sell additional assets or the entire company ASAP. There's no guarantee that will happen, unfortunately. I do expect there to be enough breathing room as far as liquidity goes to get through the next quarter which will grant additional insight into the liquidity position.

[beebong1] 16/7/2016 08:22

What's up mm. Lost yer conviction in acquiring more of HH?

"One big difference between then and now is the company actually had a successful flow test in the assets that fall under UK peripheral Weald and a company has been set up specifically to exploit this asset called Horse Hill. Magellan is exposed, through an 35% interest, to the upside but isn't burdened by any of the costs. The old $5 million figure is based on a $600 per acre figure which I would expect to be surpassed on a sale now."

[theuniversal] 15/7/2016 22:51

MM just use the filter my friend. This bb is getting very boring

[moneymunch] 15/7/2016 22:38

Lol beewrong, you're a Turkey...:-)))

[beebong1] 15/7/2016 20:46

"Stephen Sanderson, of UK Oil & Gas Investments PLC, had been called as a prosecution witness in a case arising from protests outside the Horse Hill site during flow testing in February and March this year.

But when the five-day trial resumed this morning in Guildford the court heard that he would not be attending because he was having emergency dental treatment and then had a flight to catch."

Obviously on his way to secure the outstanding 35% of HH IMO. No gain without pain!

[beebong1] 15/7/2016 20:12

National Park drilling plans - EIA required for Markwells Wood

Full story here;

drillordrop.com/2016/07/13/ukogs-national-park-drilling-plans-would-have-significant-environmental-effects/

[beebong1] 15/7/2016 20:09

UKOG’s Stephen Sanderson misses court appearance in fracking protest trial

Full story here;

drillordrop.com/2016/07/15/ukogs-stephen-sanderson-misses-court-appearance-in-fracking-protest-trial/

[moneymunch] 15/7/2016 09:46

Prime Minister Theresa May has made a major restructure of government, bringing together two substantial departments to create the single office for Business, Energy and Industrial Strategy.

The move means that the old departments of Business, Innovation and Skills and Energy and Climate Change have effectively been merged.

The new office will be led by former communities and local government secretary Greg Clark, who effectively swapped roles with business secretary Sajid Javid earlier today.
This could be an enormous department for trade promotion backed up by supply side measures especially around energy. One thing we need is a lot more cheap energy.”

Former environment secretary Owen Paterson remains confident that the government will take the right path following last month’s referendum. “Once we get full Brexit it will put power in our hands to turn the UK into a supercharged monster Singapore of the western world,” he told City A.M.

[moneymunch] 15/7/2016 09:22

Ukog's own broker has them under review following the stunning flow data from HH.....let's see what their recommendation is when the Nutech report lands.....Big news coming imho and significant upside more than likely.......just as soon as we all know how much of the Kimmeridge Ukog owns and when the new UK Govt. are ready to roll. Gla holders ;-)

[beebong1] 15/7/2016 09:20

Anyone else wondering where they are? Nearly 4 months now. All are aimed at HH only so no reason why they should not have completed them.

21 March 2016

Nutech to investigate a possible upgrade to the oil in place ("OIP") calculated within all 3 test zones

Engineering studies to examine possible flow rates from a horizontal well

Reservoir engineering analyses by Nutech and Xodus are also underway, and will likely result in an estimation of potential recoverable volumes.

[moneymunch] 15/7/2016 09:20

Lol bee wrong, how more times are you going to post that pointless article.? You numptie! !

[moneymunch] 15/7/2016 08:57

Lol numptie, the significance of the new PM in relation to the UK oil and gas industry was highlighted by the highly respected Rigzone. What is clear is is that if the oil of the Kimmeridge is recoverable in volume, then the new UK government will be keen to get it out for Uk Plc future energy security and prosperity. Gla holders :-)

[beebong1] 15/7/2016 08:43

Considering many of the posts have no impact on any of UKOG's licenses they are typical of the the pointless posts we get from some posters.

As for the new PM's voting record that will be in accordance with Tory policy as there are very few times when MP's can vote as they wish.

It's a bit like saying the PM loves cats just because one lives at No 10!

[moneymunch] 15/7/2016 07:39

Lol...good luck with your new thread, you might be able to read 8 posts in a row now, but because you can't moderate, it won't be long until its infested with the usual lowlife basher scumbag cohorts...;-)))

[moneymunch] 15/7/2016 07:31

New UK Prime Minister Likely Good for the Oil, Gas Sector

|
Rigzone Staff
|
Wednesday, July 13, 2016

The appointment of Theresa May as the United Kingdom’s new Prime Minister is likely to be a good development for the UK oil and gas industry, according to her voting record in Parliament

[moneymunch] 15/7/2016 06:56

Lol, i can see the last 4 posts, and have to hit the "previous" button to see more, but that's no different to the majority of Advfn threads, the content in the header is all relevant, especially for new investors, maybe/hopefully forwood can get rid of the Mpet chart if/when they give up their 35% of HH, although he might have to replace it with Esso's or similar if the UK Govt. starts pushing development/production forward....gl ;-)

[lithological heterogeneities] 15/7/2016 06:38

ok.

just carry on as usual then :0)

would be nice if the thread header was cut right down to give space to read posts.

[moneymunch] 15/7/2016 06:34

FFS that's what i normally do, but the content of the post was highly significant to the previous posts on the new PM etc and the potenial national significance and what that could mean for UK Plc and what the new Govt. plans would be, and therefore i will continue to post similar articles in full, especially when it's in response to beewrong's incessant negativity ...gl ;-)

[lithological heterogeneities] 15/7/2016 06:05

perhaps a good compromise is a date/heading/link and the main bullet points that are worth pointing out ?

[moneymunch] 14/7/2016 21:32

pps and if the content of the link isn't posted , then you can't search the bb back for any information that might be relevant to proceedings, such as DOR confirming that they intend to test the Kimmeridge limestones...for instance...gl ;-)