Uk Oil & Gas Share Discussion Threads

[gismo] 25/7/2016 15:15

Afternoon moneymunch, how are you today? Topped up again this morning, this is becoming a habit! gl

[moneymunch] 25/7/2016 11:12

Lol Ray, so much oil indeed and no doubt of huge national significance, which is why Ukog or another might want to wrest another 35% from the tin pot US explorer Mpet, on their knees and hanging on by their finger nails. Watch this space. Gl ;-)

[rayrac] 25/7/2016 10:59

moneymunch 22 Jul'16 - 23:23 - 5060 of 5077 0 0

Roll on Monday, and let's hope it's HH related in respect to Mpet's 35% interest.....gla holders ;-)"





That's the kind of post that keeps the pot boiling...to the downside.


here is no doubt this is a major find, with major implications for us as a community.
If development goes ahead it will not be with a nodding donkey. Equally 'fracking' will not be necessary as the oil is coming up under its own pressure and will do so for many years. In any event fracking is not permitted at the levels involved, which are all above the 1,000 metres depth line.
It is expected activity will quieten for about 12 months while the oil company submits a further planning application to carry out further testing and possibly a parallel application to get extraction underway. (Although the possibility does arise that the government may enable a process to fast track these applications). Whatever planning permission they get, they will then come back to carry out further extended flow tests and might start extracting. This is the stage where the potential arises for residents to start to experience all the disruption this involves.
Much of the well structures and the pumps will ultimately be underground - but effects on residents of the drilling of so many wells, and the subsequent transport of oil with apparently no pipeline available is difficult to establish at this stage.

Trouble ahead...but only because there's so much oil to extract!

[beebong1] 25/7/2016 09:09

CHARLWOOD PARISH COUNCIL
Peter Barclay, Clerk to the Council
2 Glovers Gate, Glovers Road, Charlwood, Surrey RH6 0EG
Tel: [phone] e-mail: [e-mail]


Horse Hill Oil Exploration
There has been much news and speculation concerning the Horse Hill Oil Exploration site on our northern border. Permission was granted some two years ago for the principal operator of the site, Horse Hill Developments Limited to proceed with an initial exploratory drill operation which was carried out towards the end of 2014 with some indications of commercial quantities of oil being present suitable for commercial extraction. Since then, in the past month, the company has been carrying out flow assessments to establish better the commercial viability of the site.
It would seem that to their, as well as many others, surprise there are considerable quantities of oil freely flowing under its own pressure without fracking (although with some technical stimulation).
The Parish Council have been liaising with the Horse Hill Action Group (HHAG) led by Norwood Hill resident Chris Lowe. Councillors will continue to be involved and look to offer assistance as required.
The Parish Council also intend to meet and work with Salfords and Sidlow Parish Council, within whose boundaries the site is located, and other community groups to support residents.
The announcement by the oil company, UKOG, contained the results of the latest flow tests in the Portland sandstone, double the rate they found before - and a summary of the overall results in the 3 levels that they tested.
There is no doubt this is a major find, with major implications for us as a community.
If development goes ahead it will not be with a nodding donkey. Equally 'fracking' will not be necessary as the oil is coming up under its own pressure and will do so for many years. In any event fracking is not permitted at the levels involved, which are all above the 1,000 metres depth line.
It is expected activity will quieten for about 12 months while the oil company submits a further planning application to carry out further testing and possibly a parallel application to get extraction underway. (Although the possibility does arise that the government may enable a process to fast track these applications). Whatever planning permission they get, they will then come back to carry out further extended flow tests and might start extracting. This is the stage where the potential arises for residents to start to experience all the disruption this involves.
Much of the well structures and the pumps will ultimately be underground - but effects on residents of the drilling of so many wells, and the subsequent transport of oil with apparently no pipeline available is difficult to establish at this stage.

In the same way we have dealt with some of the unwelcome challenges Gatwick have thrown at us we as a community will need to marshal all the resources we possibly can to deal with what is going to be proposed. Importantly we will need help with understanding it all.
Horse Hill Action Group have already analysed much of the original planning permissions and drilling licences but with very limited resources. They are currently requesting if there are volunteers with expertise in all sorts of things, from oil, to planning, to property, to policing, to monitoring, to wildlife, to transport, to highways, to protestors, and much more. If you think you might be able to help, please email Chris Lowe at [e-mail].
Alternatively please contact the Parish Council via the contact details on the header page.
Peter Barclay 5th April, 2016
Clerk to the Council
Further information:
Site Operator - Horse Hill Developments Ltd www.horsehilldev.co.uk
Surrey County Council – Planning Authority
www.surreycc.gov.uk/environment-housing-and-planning/planning/planning-applications-register/the-planning-process/have-your-say-on-planning-applications
There are numerous sites on the internet and via social media which cover specific
geographic locations and give various comments and views on oil exploration.




Shame they did not publish the leaflet on the website.

drillordrop.com/2016/07/21/new-drilling-and-testing-plans-for-gatwick-gusher/

[moneymunch] 25/7/2016 08:10

Lol...all water under the bridge, as Ukog moves forward to the eagerly awaited 90 day production flowtests, and position themselves as the Major player of the Weald Oil Basin. Gla holders....On and Up!!! ;-)

[beebong1] 25/7/2016 07:50

another clue perhaps

companycheck.co.uk/company/08022329/REM-MEXICO-LIMITED/directors-secretaries

The big question is how much did Angus sell their shares in HHDL for? The ones that went to Danadav and Flowermay.

I don't think anyone got to the bottom of the ANGUS ENERGY HOLDINGS UK LIMITED/Stuart Kilnan/UKOG deal either but the Angus accounts have not been updated since 30 Sep 2014 so difficult to tell.

[moneymunch] 24/7/2016 19:55

ps and so Ukog could pick up another 2% from Evo, who would still retain an interest in HH via Alba and inevitably the Ukog shares that they would get from the deal..... Not long now before everyone will want Ukog's shares to rise significantly, which will benefit all of the HH players...including Mpet just as soon as they show us their hand. Gla...BIG news bubbling imho... ;-))))

[moneymunch] 24/7/2016 18:24

13 March 2015
UKOG further increases its interest in Horse Hill, Weald Basin, UK.

London listed UK Oil & Gas Investments PLC (LSE AIM: UKOG) is pleased to announce it has increased its direct interest from 28% to 30% in Horse Hill Developments Ltd ("HHDL"), the 65% owners and operators of onshore exploration licences PEDL 137 and PEDL 246 (known as "Horse Hill"). The additional 2% interest was acquired from Danadav Investments Limited for a consideration of £352,000. The consideration will be satisfied through the issue of 44,000,000 new ordinary shares (the "Shares") of 0.01 pence each ("Placing Shares") at 0.8 pence per share.

[moneymunch] 24/7/2016 18:20

Ps Dan and Dave is a clue ;-)

[moneymunch] 24/7/2016 18:20

19 March 2015

Evocutis Plc

("Evocutis" or the "Company")

Investments and Implementation of Investing Policy



Evocutis Plc (AIM: EVO), the investment company whose current investment is a 10% interest in Brazil Tungsten Holdings Ltd, announces that it has acquired the following further investments:



· a 2% interest (being 20 shares) in Horse Hill Developments Ltd ("HHDL"), the 65% owners and operators of onshore exploration licences PEDL 137 and PEDL 246 (known as "Horse Hill"). The additional 2% interest was acquired from Danadav Investments Limited for a consideration of £425,000;



· a 3.01% interest (being 29.2 million shares) in Noricum Gold Limited which is a UK AIM listed company whose main interest is their 100% owned Schonberg Gold and Precious Metals project in Austria. This investment was acquired on market for a cost of £61,205;



· a 3.13% interest (being 55 million shares) in Alba Mineral Resources Plc, a UK AIM listed company who holds interests in Ireland (base metals); England (oil and gas) and other countries. This investment was acquired via a recent share placement for a cost of £55,000.

[daithedeath] 24/7/2016 17:13

Who is dav ? re danadav

[beebong1] 24/7/2016 12:58

and DANIEL GERARD O'CONNELL, Managing Partner, was the solicitor who was the Director of Danadav Investment Ltd.

[moneymunch] 24/7/2016 12:31

200 Strand is the head office of Kerman and co

Kerman & Co is a medium sized firm of commercially minded lawyers. All matters undertaken by us are Partner led and we aim to give practical advice which suits the individual needs of each of our clients.

13/06/2016 Kerman & Co LLP advises UK Oil & Gas Investments PLC on the acquisition of 100% interest in Weald Basin Licence

14 companies now listed at 200 Strand including Kimmeridge oil.

[beebong1] 24/7/2016 11:56

Kimmeridge Oil and Gas Ltd has an address of 200 Strand, London, London, United Kingdom, WC2R 1DJ which was the same address as Danadav Investment Ltd and is the address of LENI GAS CUBA LIMITED. All the other UKOG companies, including HORSE HILL DEVELOPMENTS LTD, are listed at Suite 3b 38 Jermyn Street, London, SW1Y 6DN.

[moneymunch] 24/7/2016 11:32

Whilst we await any potential news or not, on Mpet's 35% interest at HH.....here's another one for the mix and could explain why Ukog have set up the "intermediate" company Kimmeridge Oil and Gas Ltd in respect to the acquisition of Pedl234 from Mpet/Celtique......perhaps Ukog's aim is to merge/acquire Mpet's US public listing/traded shell as outlined below by Seeking Alpha and take full control of Mpet's 35% and list on Nasdaq at the same time through Mpet's traded shell, and the intermediate company would be the vehicle or Ukog itself to allow this to happen....just a thought, but a possibilty??? Gla ;-)

"Upon and subject to completion, the Licence ownership and operatorship will be held by Kimmeridge Oil and Gas Limited, a 100% UKOG owned private intermediary company. A further announcement will be made once the agreements have become unconditional."



Accounting rules do not allow early stage E&P companies to show all of their fair market value on their balance sheet. That's also the case with Magellan Petroleum (MPET) which is a tiny $7 million market cap E&P company that failed to get any substantial production going. It does own however interesting assets which it is now monetizing at a rapid pace with the intent of simplifying its risk/asset profile to sell its assets and even its U.S. public listing to both public and private companies.

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.

[moneymunch] 24/7/2016 10:39

The transition from small cap explorer to mid cap/major producer is rarely straightforward, but if the oil is there in significant commercial volume as the data suggests, then many of the predicted sp's will be met in due course imho as progress and posititve news is made on permit/approval, 90 day production flowtests, production licenses etc etc albeit rather longer than many first envisaged. Gla holders Ukog looks all set for the journey. ;-)

ps There were plenty of basher's who were and still are predicting sub .05p and even zero!!! Pmsl ;-)

[moneymunch] 23/7/2016 09:46

Mpet's investor presentation April 2016 stated that they intended to monitise their international assets including HH, since then they have sold their Mereenie asset and PEDL234 ( Weald ) and PEDL1916 ( IoW ), which just leaves their 35% interest at HH.....Mpet's special shareholders meeting confirmed approval of the Exchange Agreement with One Stone, which paves the way to finalizing the strategic alternatives review process the Company is conducting.

The exchange agreement also included the monitisation of their international assets as per April Investor Presentation and their press release 19th July the exchange transanction will be completed by end of July.

19/7/16
" We are currently working with One Stone to obtain the remaining consents required to permit the closing of the exchange transaction, which we expect should occur toward the end of July 2016."

Mpet's press release 13th June on the sale of PEDL234 confirmed;

"The proceeds from this transaction will also contribute to satisfy the Company's short term liquidity needs and supplement the cash balance the Company is building from the monetization of its international assets. The Company continues to hold its 35% interest in the Horse-Hill-1 well."




SHORT term liquidity needs, suggests that they still need more cash and their statement clearly states they're "building" their cash balance from the sale of their international assests.....which suggests to me, ( as per April's presentation ) that their remaining international assest, 35% interest at HH is still on the market. Gla holders....watch this space. :-)



Investor Presentation April 2016

Focus on recovering shareholder value by realizing the value of existing assets
–
Monetize the rights to the Mereenie bonus payments
–
Monetize interests in Weald Basin licenses and Horse Hill well
–
Explore the possibility of a merger or similar business transaction

[beebong1] 23/7/2016 08:06

MPET's latest SEC filing for the annual and special meeting of the shareholders held on July 13, 2016 would dispel that myth IMO. Not even mentioned.

[moneymunch] 22/7/2016 23:23

Roll on Monday, and let's hope it's HH related in respect to Mpet's 35% interest.....gla holders ;-)

[moneymunch] 22/7/2016 23:15

Stock Update: Tracking Unusual Volume for Magellan Petroleum Corporation (NASDAQ:MPET)
by Engelwood Staff — July 22, 2016

Shares of Magellan Petroleum Corporation (NASDAQ:MPET) are experiencing unusual volume during today’s trading. While the stock price moved along with the volume change, shares are touching $1.23 at the time of writing. The day’s total volume of 74192 this morning is in contrast from the three-month daily average of 24.66K. When we divide the current volume by the three-month average volume, we get a relative volume of 5.50.

The difference between yesterday’s closing price and today’s opening price was 0.00%.

Why is this important?

Trading volume is a hugely important consideration for any investor. By watching how many shares are trading hands and looking for any changes in that activity, trading opportunities can be spotted along with a deeper understanding of the reliability of other indicators on the stock. A significant increase in trading volume means that more than double the average amount of stocks are moving. When volume is decreased significantly, it may indicate there is an issue that shareholders should watch out for. It’s also important to take into consideration how long the unusual volume sustains for. If it’s only the one trading day, it can be dismissed as an anomaly.

[beebong1] 22/7/2016 19:42

SS not doing UKOG any favours with some of his comments IMO.

“It quite close to the A road, which leads to the motorway network. It does not pay to put heavy vehicles on small roads.”

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

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

see full story here;

drillordrop.com/2016/07/21/ukog-plans-for-production-at-horse-hill-but-residents-say-its-the-wrong-site-for-an-oil-well/

UKOG plans for production at Horse Hill but residents say it’s the wrong site for an oil well

On the positive side;

He also said the Kimmeridge limestone was ubiquitous across the region.

“We can cherry pick. We can think about brownfield sites or locations next to a major road or railway line.”

[moneymunch] 22/7/2016 17:00

ps JDSDPS....Ukog had c£7 million cash in the bank as of 28th June 2016....and so still have c£5m cash following the recent acquisitions.......more than enough for the near term developments in taking HH into 90 day production flowtests, which now includes the the third and deepest Kimmeridge limestone.....significant revenue more than likely on the 31.2% interest Ukog currently holds...Gla holders. A sudden and significant rise in share price when they let this go imho.....;-)))

[moneymunch] 22/7/2016 16:54

Weep weep!!! ;-)))