Uk Oil & Gas Share Discussion Threads

[mikeygit] 18/11/2016 09:09

I hate all these so called ´Professional Protestors ´ who are so negative about everything in life and do not contribute anything to society. They are aggressive unpleasant people, many of them!!They say the are ECO---doubt if they know the meaning of the term---and yet leave untold damage and rubbish behind them. I am sure they will be a thorn in the side to our companies in The Weald etc but we will get through*--as long as it is not TOO long!!

[moneymunch] 17/11/2016 21:14

The Brockham limestones will be viewed as appraisal for the HH limestones, and if the Brockham limestones free flow then Alba will multi-bag from their bargain low share price given they hold 5% of Brockham and 9.75% of HH, and the share price of Ukog and all HH players will rise significantly.......who know's perhaps they'll multi-bag on the Greenland graphite and gold and other rare mineral update, EM aerial surveys now account for the discovery of billions of $'s worth of minerals. Gla holders......Alba is a little gem of a share with truly near term transformational upside on several fronts.....a risk reward opportunity firmly in our favour.....get ready for some upward momentum in run up to the next Rns. ;-)

[mikeygit] 17/11/2016 19:57

I have never been completely confident in Markwells Wood. Northern Petroleum were the previous operators and sold out as they felt it was not economical. Now with more up to date technology things may have altered but Northern are a good little company and I would have thought if they thought it not worth their while, as any oil there was not economical to extract with all the water problems. As I say, things may be different now---we shall see.

[beebong1] 17/11/2016 18:07

The problem with copy and paste is that a lot gets missed.

"Historical Well Activity

The historic well drilling and completion history provided to Xodus was incomplete and includes several activities that are based on anecdotal evidence only with limited back-up materials. The well drilling and completion activities by previous operators to Angus have had mixed results. In summary:
Well BR-X1 - drilled in 1987, no cement behind 7" casing over Portland Sandstone interval. Has since had several workovers to perforate other intervals, as well as to try to address water production. Initial testing on -X1 in May ’88 produced 95 bopd with 5 bwpd with some 50 ppm H2S.
Wells BR-X2 / X2Z & X2Y – in 1988 drilled pilot hole and X2Z horizontal development well, with BR-X2Y drilled in 2003. BR-X2Z and BR-X2Y barefoot completed. Early production from X2Z brought on stream with X1 showed production of 10 bopd and 60 bwpd with significant H2S produced from both wells. In 2012, Angus added perforations into Portland unit (above 4.1). It is believed that all currently produced fluids are coming from this unit.
Well BR-X3, drilled in 2007, BR-X3 is a side-track of BR-X1 with the objective to convert this suspended producer into a water injector.
Well BR-X4, drilled in 2007, with a 7” casing set and cemented at 692m completed with a 4½” slotted liner.
It was believed that a total of 135m of Unit 4.2 had been penetrated, although the wellbore has passed through the unit on 3 occasions. The first and third sections of Unit 4.2 had oil shows, the middle section had none. The well produced 400 bpd of water. The well has had several workovers, trying to isolate water and to perforate other intervals, but with no real benefits to production. BR-X4 can be produced intermittently, starting with 100% oil and then quickly going to 100% water. There is no certainty on the reservoir sections the wellbore crossed, neither from which part of the well the fluids are produced.

Historical Production

Oil and water production for BR-X1 and BR-X2Y was supplied by the previous operator on a daily basis from October 2002 to the end of February 2007. BR-X1 production data was also available for the 1998 and 2001 extended well tests. Both BR-X1 and BR-X2Y have shown varying degrees of water cut development. Xodus cannot judge the accuracy of the provided historical production data (Figure 5.13 and Figure 5.14). Because of the various anecdotal and badly documented well activities on the field, it is impossible to assign with certainty production volumes to certain wells or reservoir units. However, Xodus assumes that most production prior to Angus operatorship comes from the 4.2 unit and current production comes from the 4.1 unit. Cumulative oil production on the field is approximately 230,000 bbl.

[beebong1] 17/11/2016 17:32

I'm pretty sure Portsmouth CC are not an official Consultee so it will be interesting to see how they lodge a compaint.

Portsmouth Council “very strongly objects” to UKOG’s South Downs oil drilling plans

Full details here, not war and peace.

drillordrop.com/2016/11/17/portsmouth-council-very-strongly-objects-to-ukogs-south-downs-oil-drilling-plans/

[theuniversal] 17/11/2016 16:38

End of jan for the Surrey applications...

[moneymunch] 17/11/2016 16:19

Lol mikey, just a bit of copy and paste in between the day job and the house extension i'm mostly building, and doesn't take long to find, and i've got years to go before the official retirement date, although might come early if the Weald is big as we hope. Gl ;-)

[mikeygit] 17/11/2016 09:53

Another in depth report from MM Cheers---do you have time to work?? or are you retired like me?

[moneymunch] 17/11/2016 09:15

They're still in dire straits TU, and am sure are open to offers on their 35%, although they may decide to hold on to them for the free ride if they can, although they don't fit with Tellurian's LNG business plans in the US, but no doubt sooner or later we're going to find out.....Ukog would probably need further funds to acquire a large chunk.....The lock in agreement on the Ukog shares they hold from the sale of Pedl234 expires around about now into December, and so they might start off loading them now, and perhaps a reason for the current position of Ukog's sp, and lack of news from Ukog on HH etc if they're trying to hold down the value of the asset pre-purchase by who ever??? Watch this space. Gl ;-)


Mpet's SEC Filing
SUMMARY RESULTS OF OPERATIONS
The Company has incurred losses from operations for the three months ended September 30, 2016, of $2.2 million. In addition, the Company's cash balance has decreased to $892 thousand as of September 30, 2016.
The Company continues to experience liquidity constraints. We believe there is substantial doubt about the Company's ability to continue as a going concern. Because Tellurian's assets do not currently generate revenues, the combined company is also likely to experience liquidity constraints. However, we believe that upon the closing of the merger with Tellurian, the combined company will be better positioned to raise capital to fund the combined company's operations due to the attributes of Tellurian's business plan and management. Therefore, we believe that Magellan's ability to continue as a going concern in the short-term is subject to the closing of the merger with Tellurian. However, following the closing of the merger with Tellurian, the combined company may not be able to raise sufficient capital in a timely manner to fund the operations of the combined company. Should the merger with Tellurian not close, the Company will need to pursue other alternatives in order to continue as a going concern.
As a result of the transactions related to the strategic alternatives review process, the assets and operations of NP, Utah CO2, and the Weald Basin were reclassified to held for sale and discontinued operations, respectively, until their ultimate disposition during the three months ended September 30, 2016. Therefore, the Company does not report revenues herein, and the results of continuing operations herein exclude the results of these discontinued operations.

Horse Hill. Pursuant to a farmout agreement with Horse Hill Development, Ltd ("HHDL") dated as of December 20, 2013, the Company holds a 35% interest in PEDLs 137 and 246, where the Horse Hill-1 well ("HH-1") was drilled. In accordance with the farmout agreement, the Company’s costs in relation to these licenses are 100% carried by HHDL until production, including costs related to conducting flow tests. During the first quarter of calendar year 2016, HHDL conducted a successful flow test of several formations of HH-1, including the Portland sandstone and two Kimmeridge limestone formations. UKOG, one of the principal interest owners of HHDL, then reported that the flow tests measured a stable dry oil rate of 1,688 barrels of oil per day in aggregate from these formations. Although the duration of the flow tests of each formation was relatively short, we were very encouraged by these results.
On October 17, 2016, UKOG announced that HHDL informed UKOG that i) a planning application was submitted to Surrey County Council seeking permission to conduct further significant appraisal testing and drilling at PEDL 137, ii) subject to the required regulatory approvals, the first phase of the proposed development was planned to consist of the extended production testing of four zones, designed to confirm the commerciality of the discovery, and to examine a previously untested Kimmeridge limestone, and iii) the planning application also sought permission for a two-well drilling phase, contingent upon successful testing, to further appraise the extent of the oil accumulations and the field's production capabilities, which drilling phase would consist of a deviated sidetrack, HH-1z, to be drilled from the existing HH-1 borehole and a new well, Horse Hill-2. UKOG also reported that the normal local planning authority cycle for an application not requiring an Environmental Impact Assessment such as at Horse Hill takes approximately 13 weeks.

Securities available-for-sale. As of September 30, 2016, Magellan had securities available for sale amounting to approximately $1.9 million, consisting of the Company's investment in shares of Central stock and UK Oil and Gas Investment Plc ("UKOG") stock amounting to approximately $692 thousand and $1.2 million, respectively.

[beebong1] 17/11/2016 07:48

Gone fishing

[theuniversal] 17/11/2016 06:52

Hi moneymunch. Did you catch the latest reports from magellan. Looks like they are selling common stocks/warrants.....They only have around $840,000 left and are prepared to sell a % of HH...would selling common stock or warrants stay off the wolves?

[beebong1] 16/11/2016 16:09

mikeygit
It is a case of knowing when to buy and sell on the news and no news that will make a difference to the share price
Then you get the leaks.
Then you had Dan and Doc the bloggers, the phantom site visitors and the rampers spreading the word.
Just look at what happened over two years ago in the build up to spud. I can't believe it was that long ago now.
I'm just glad it wasn't the first share I invested in lol

[beebong1] 16/11/2016 15:54

This is how some live lol.

10. Directors’ service contracts
10.1 Jonathan Tidswell-Pretorius is employed as the Executive Chairman pursuant to the terms of a service agreement with the Company dated 7 November 2016. The agreement is terminable on twelve months’ notice from either side. With effect from Admission, Jonathan will be paid a basic annual salary of £120,000, which will increase to a maximum of four times its basic rate upon the attainment of certain production targets as follows:
• the basic annual salary will double on daily production reaching over 150bopd (net to Angus)
over a 45 day average; and • this can then double again on daily production reaching over 750bopd (net to Angus) over a 45 day average.
Such increases are subject to annual review by the Remuneration Committee and can be reversed should expected annual production levels not be considered substainable at these levels. Jonathan is subject to certain restrictive and confidentiality covenants.
10.2 Paul Vonk is employed as the Managing Director pursuant to the terms of a service agreement with the Company dated 7 November 2016. The agreement is terminable on twelve months’ notice from either side. With effect from Admission, Paul will be paid a basic annual salary of £120,000, which will (subject to a minimum monthly payment of €10,000) increase to a maximum of four times its basic rate upon the attainment of certain production targets as follows:
• the basic annual salary will double on daily production reaching over 150bopd (net to Angus)
over a 45 day average; and
• this can then double again on daily production reaching over 750bopd (net to Angus) over a
45 day average.
Such increases are subject to annual review by the Remuneration Committee and can be reversed
should expected annual production levels not be considered substainable at these levels. Paul is
subject to certain restrictive and confidentiality covenants.
10.3 Pursuant to a letter of appointment with the Company dated 7 November 2016, Rob Shepherd agreed to serve as a Non-Executive Director from Admission, for an annual fee of £20,000. This appointment is subject to re-election in accordance with the Company’s articles. The agreement is terminable on 3 months’ written notice.
10.4 Pursuant to a letter of appointment with the Company dated 7 November 2016, Chris de Goey agreed to serve as a Non-Executive Director from Admission, for an annual fee of £20,000. This appointment is subject to re-election in accordance with the Company’s articles. The agreement is terminable on 3 months’ written notice.
10.5 Pursuant to a letter of appointment with the Company dated 7 November 2016, Cameron Buchanan agreed to serve as a Non-Executive Director from Admission, for an annual fee of £20,000. This appointment is subject to re-election in accordance with the Company’s articles. The agreement is terminable on 3 months’ written notice.
10.6 Save as disclosed in this document there are no service agreements or agreements for the provision of services existing or proposed between the Directors and the Company.
10.7 There are no agreements under which any Director has agreed to waive any future emoluments.
10.8 In the financial period ended 30 September 2015, the aggregate remuneration paid, including pension contributions and benefits in kind granted to the directors was £75,000.
10.9 On the basis of arrangements in force as at the date of this document, it is estimated that the aggregate remuneration payable to the Directors for the current financial year of the Company will be approximately £540,000.

[beebong1] 16/11/2016 15:15

1.4 must be hurting Mr 1.5%. Quite happy with my lot. Think you need to get a new life rather than worrying about what I do.
Some Q4 you predicted. LMFAO

"a BIG Q4" then "a VERY BIG Q4" now becomes "the most exciting Q4" and now only a "A BIG Q4 ahead"

Take your choice. They are all yours!
The share price has dropped 0.5p since you ramped that rubbish. Down 25%. If that is your idea of "a BIG Q4" then "a VERY BIG Q4" now becomes "the most exciting Q4" and now only a "A BIG Q4 ahead" you do need a new life!

IMO nout of any substance till new year here. Can't even sell what they have here as down so much. The smart money got out.
Exploration and development companies are always the same IMO.
There will be tears at Angus IMO when they finally wake up. Licences run out next year and if fields are not productive they will loose them.
Only 55% of Brockham but that is a lot more than here.

Classic shoot yourself in the foot from lse. What muppet posted that!!!

".if the Brockham limestones don't free flow then Ukog's share price will halve....if they do free flow, then Ukog's share price will likely double..."

[moneymunch] 16/11/2016 10:45

Pmsl, beewrong, the snide lowlife troll share basher. ....what a way to spend your valuable time. ....get a proper job you desperate sad numptie!!!

[beebong1] 16/11/2016 08:04

UKOG share of Brockham is only 1.5345% so no surprise they did not come out with a RNS yesterday.

[beebong1] 16/11/2016 07:58

Yet another post that detracts from the share. Methinks MM is going off his rocker and seeing things that don't exist. Just like a drill at Brockham. Santa will be coming down the chimney next. Ooops. That has probably upset 50% of the posters on here.
How did it go at ALBA yesterday. Another stellar day or was it a re-rate!!!
How can it be imminent when it takes 3 weeks for HSE approval? Misuse of the English language yet again.