Uk Oil & Gas Share Discussion Threads

[wisteria2] 22/7/2016 15:57

Sorry to here about your problem with herpes beepbing!!
No wonder your posts are so bitter!! gla

[beebong1] 22/7/2016 15:50

JDSDPS
You do realise that by putting a ? at the end of a sentence I was asking a question. To answer yours; I don't know how the deal was made up.

[beebong1] 22/7/2016 15:25

It is 3 month since UKOG bought a bigger % in HH. If MPET had been so desperate they would have sold by now IMO.

UKOG are strapped for cash otherwise why pay in more shares? It is the easy option. It only affects the PI's. More shares, more people owning shares, worth less; do I need to go on?
It does not affect the cash, does not show up as a loss on the accounts.
IMO PI's do not know how companies work so are gullible to business practices and is why so many of them loose money.

Not sure why INEOS has been brought up as they did not bid on one block south of Birmingham in the 14th round and quite clearly based to the north and in Scotland.

No doubt it is just more noise to drown out what really matters. I just love it when a valid point has been made and then you get a number of lengthy off topic posts that have been put on the board before, quite often at least a year old. The problem with herpes is it keeps coming back!

[funkmasterp12] 22/7/2016 14:55

He also then said, 6 months later:

"Ratcliffe is convinced the UK needs to rethink its energy priorities. The group is a proponent of developing shale gas in the UK, though not in the south where the population is too dense. “If you don’t pursue shale it’s difficult to see how the UK can remain competitive. A lot of the shale is in the former industrial areas of the country.”"

[moneymunch] 22/7/2016 11:50

Lol and a pipe dream for the Multi-billion pound MAJOR Ineos on the Northern SHALE gas prospects.....the UK Govt. is well aware of the multi-billion barrel potential of the Soutern SHALE oil, and so will every MAJOR worth their salt. Gla holders ;-))))

INEOS has announced it is planning to invest $1 billion in UK Shale gas exploration and appraisal.

If INEOS wins all the Shale gas licenses it has applied for, INEOS will be the biggest player in the UK Shale gas industry.

The vast majority of the licenses sought by INEOS are in locations which have either a mining or industrial heritage.

INEOS has uniquely guaranteed to give local communities 6% of any revenues generated.

Jim Ratcliffe, INEOS chairman says, “I want INEOS to be the biggest player in the UK Shale gas industry. I believe Shale gas could revolutionise UK manufacturing and I know INEOS has the resources to make it happen, the skills to extract the gas safely and the vision to realise that everyone must share in the rewards”

[funkmasterp12] 22/7/2016 11:10

A major that's so interested that no-one has bothered to even investigate the area since Esso - a major - failed in the 60s.

Face it, it's a pipe dream. Literally!

[moneymunch] 22/7/2016 11:06

Mpet is desperate for cash...they hold 35% at HH.....the most exciting onshore oil prospect since Wytch Farm with the Executive Chairman of Ukog predicting between 140,000 to 280,000 BARRELS PER DAY across the Weald Oil Basin....will Ukog grab another 10% or so, they certainly couldn't afford the full 35% imho at this stage of proceedings, and so with an oil reservoir of such much potential National Significance.....would a MAJOR be interested???? IMHO Yes.....especially as Theresa May and the new Govt. plan out UK Plc's future independence with energy security top priority and the potential of billions of £'s that the Weald Oil Basin might generate. Gla holders this is going to BIG....VERY BIG!!! ;-)

the bashers are desperate to deter investors....WHY????? ;-))))

[funkmasterp12] 22/7/2016 11:02

You've hilariously missed my point.

You're saying buy UKOG shares because a major might buy MPET's share of HHDL or UKOG itself.
I'm saying you might as well buy any stock with that logic.

Actually that Easyjet thing above (which never happened, by the way) reinforces my point!

Keep going though moneymunch. It's entertaining.

[moneymunch] 22/7/2016 10:59

Lol......

EasyJet announces 'shock' bid to snap up budget airline rival Monarch

By Joe Gamp
April 17, 2016 15:42 BST

[funkmasterp12] 22/7/2016 10:58

Erm. You'd buy the GVC shares on the hope they would be bought out by Ladbrokes (or whoever), so the example is perfectly valid.

[moneymunch] 22/7/2016 10:55

PMSL....nice example funky.....YOU NUMPTIE!!!

Ladbrokes, Gala Coral deal to be tied up this week - report
Friday, July 22, 2016 Posted by Totally gaming
Like

Ladbrokes’ £2bn (€2.83bn/$3.14bn) merger with Gala Coral could be confirmed as early as this week, according to a report in UK newspaper The Sunday Times.

The report suggests that privately-owned Gala Coral will hand a windfall of £50m to senior staff should the deal go ahead, adding that the company is “set to seal its alliance with struggling rival Ladbrokes this week”.

[moneymunch] 22/7/2016 10:43

Lol...what's laughable is you and tweedle bee's incessant negativity in your remit to deter investors......Good luck all holders.....a sudden and significant move upwards when they let this go....;-)))

[funkmasterp12] 22/7/2016 10:34

Er.

"When asked by DrillOrDrop if he saw it as a production site, he said

“For the Kimmeridge limestone, I don’t know.”

But he said the planning application included drilling a production well for the Portland Sandstone formation, if flow testing proved there were commercial accumulations of oil.

He added that if the Kimmeridge limestone was not commercially viable the existing well could become a production well."



He's really not helping himself, is he.

[funkmasterp12] 22/7/2016 10:25

It's such laughable nonsense.

Easyjet might buy out Flybe, or Tesco might buy out Morrison's, or Ladbrokes might buy out GVC - etc, etc, etc.

Using "a major might come in" carries about as much weight as saying "the sky might be blue today".

Nice to see the rampers have realised buying MPET would be a silly idea, especially seeing as it was their idea in the first place and something on which UKOG have never specifically commented. Hasn't stopped the morons developing their own fascinating yet totally ridiculous narrative about it though.

[beebong1] 22/7/2016 10:20

Notice the shift to a MAJOR buying MPET's 35% of HH. So much for UKOG getting it. Time for a late lunch.

[moneymunch] 22/7/2016 10:11

Local community to share Horse Hill oil revenues, UKOG’s boss promises
By Ruth Hayhurst on July 21, 2016 • ( 1 Comment )

Stephen Sanderson2

The head of one of the companies behind the Horse Hill oil well said today he was committed to giving local people a share of any production revenues.

Stephen Sanderson, executive chairman of UK Oil and Gas Investments, suggested 1% could go to landowners and the local community.

He was speaking at an exhibition about the company’s plans for more drilling and testing at the well nick-named the Gatwick Gusher.

“I am committed to distributing some of the revenue of production to the local community. I think that is only right and proper.”

“I think a lot of people can see the benefit to the UK from oil and gas – a boost to the economic, revenue for the exchequer, jobs and energy security.But if they are impacted, they ask what is in it for me?”

“If we produce oil I think it is right that the people actually benefit.”

Flow testing at Horse Hill in February and March attracted protests by opponents of the operation.

Asked by DrillOrDrop whether the offer of revenues would help make people more understanding of the company’s work, Mr Sanderson said:

“I don’t know. If it were me, I would sooner have the benefit than not”.

Asked how the payment scheme would work, Mr Sanderson said this had not been decided. He said:

“It would be a kind of wealth fund or trust, managed and distributed to the local community”.

It would, he said, be “something along the lines” of the community benefit scheme for shale gas. “We would utilise that. I might need to be tweaked.”

“We are talking hypothetically”;, he said. But added that the conventional and unconventional oil and gas industries should have the same scheme.

But he talked about a “royalty for the landowner affected” and benefits for the “wider community”.

The shale gas community benefit scheme, being developed by the industry body, UK Onshore Oil and Gas, has said it will share 1% of revenues from production.

According to a community engagement charter, this would be allocated approximately 2/3 to the local community and 1/3 paid at county level. It also promises £100,000 for every shale exploration site. UKOG has not said it will pay at the exploration stage.

Initial tests suggested the flow of oil in the Kimmeridge layers were historically high for an onshore. Mr Sanderson described the rates as equivalent to those found in the North Sea.

He has predicted the Weald could provide supply 10-20% of UK oil consumption, currently running at 1.4m barrels a day. A study by EY predicted this could be produced from up to 100 wells across the region.

[moneymunch] 22/7/2016 10:10

From yesterday's meeting with the locals if anyone missed it. Gl ;-)

New drilling and testing plans for “Gatwick Gusher”
By Ruth Hayhurst on July 21, 2016 • ( 3 Comments )

Horse Hill leaflet

The companies behind the Horse Hill oil well in Surrey, nick-named the Gatwick Gusher, announced details today of its plans for two new wells and more testing at the site.

The proposals were described at an exhibition near Horse Hill attended by a dozen executives, including Stephen Sanderson, executive chairman of the major partner, UK Oil and Gas Investments.
Flow testing for one year

The exhibition described plans for extended flow testing of four sections of the existing well. This was expected to take up to 90 days each, or around a year in total.

Depending on the outcome of the tests, the operating company, Horse Hill Developments Ltd (HHDL), may then drill two new wells.

One would be a horizontal or side-track well off the existing borehole, to target oil in the Kimmeridge Limestones.

The other would be a separate vertical well to target the Portland sandstone formation. Drilling each well would be expected to take 30-60 days and each well would also be flow tested for up to 90 days. Drilling would be a 24-hours a day operation.
Autumn submission

A planning application, for a period of five years, is expected to be submitted to Surrey County Council in mid-September, the company said. An application for an environmental permit would also be submitted around the same time to the Environment Agency.

The company said it proposed to use acidisation to clean the formation. This would a solution of 15% hydraulic acid, delivered in that concentration to the site. Hot oil treatment may also be needed on the well, the company said. This involves circulating heated oil produced from the well back into it to remove any build of waxes.

HHDL confirmed it did not intend to frack the existing or new wells and the proposed planning application would not include production.
More details

Flaring During the extended flow tests, any gas would be flared off, the company said. Executives said the choice of flare had not been decided but it was likely to be a shrouded type.

During the initial flow tests in February and March, gases were vented, not burned and there were complaints of a hydrocarbon smell. One consultant said the flare had been agreed with Gatwick Airport to avoid bright lights and turbulence.

Truck movements According to the company, the number of truck movements to prepare the site is expected to be 10 in and 10 out. During flow-testing, there would three in and three out per day. During drilling, this could increase to five in and five out per day.

Noise Consultants suggested they would use acoustic screens mounted on scaffolding to reduce noise from the site.

Site preparation According to consultants, HHDL plans to straighten the access road to make it easier to bring in large equipment. Two trees would be felled. Two other trees on the other side of the site may also need to be felled.

Carbon impacts Consultants said the carbon footprint of the scheme had not yet been calculated but would be part of the planning application.

Consultation HHDL said this was the only public meeting planned by the company. The exhibition and accompanying leaflet said:

“We are keen to understand your thoughts about this exhibition and to listen and address any questions or concerns you may have so please feel free to approach the HHDL team today.”

[moneymunch] 22/7/2016 10:06

Lol the bashers are deperate to deter investors.....i wonder why??? A sudden and significant rise in share price when they decide to let this go.......Gla holders. Transformational upside ahead as Ukog move nearer to development and productin at HH......SS predicts between 140,000 to 280,000bopd across the Kimmerdge and so more than likely that a MAJOr or two will be eyeing up proceedings.....intstant Multi-bag if one buys out Mpet's 35%....VERY exciting times ahead!!! ;-)))

[beebong1] 22/7/2016 10:05

PS
In the next few months expect nearly 10% extra shares in issue. Already at 2,354.00m so will be over 2.5bn. Not a good time to buy IMO unless you want to "average down".

[beebong1] 22/7/2016 09:25

£1m for 3.9%. Bet MPET are having a good laugh having their 35% valued at about £9m.
UKOG have shown their hand twice now. Let's just hope MPET does not bite it off.
MPET; so close to muppet.

[funkmasterp12] 22/7/2016 09:18

Comments like this on LSE make me laugh:

"Agreed that Flowermay choosing stock over cash just shows great confidence in UKOG and our wider play."

Or, more likely, UKOG couldn't afford to pay in cash so gave them shares to openly flog into the market. Note how there's nothing in the RNS about these shares being subject to lock in.

[moneymunch] 22/7/2016 09:03

Meep Meep!!! ;-)))

[wisteria2] 22/7/2016 08:57

Looking forwards to the elongated flow test then beeping?