Uk Oil & Gas Share Discussion Threads

[football] 05/12/2016 08:32

Isn't breakeven point to get the oil out of the ground around $45 a barrel and with a barrel of oil now costing just under $55 should make a few more people/companies look at UKOG a bit more favourably maybe

[blueteam] 05/12/2016 08:27

as oil prices rise into next year and news, should rise into the new year. Fair value at present around 2p mark.

[mikeygit] 05/12/2016 08:25

tommy---you must understand and not read 10 billion is what they can get out, you must read RECOVERABLE which may be much less. However scanning the RNS it IS good news and getting it out of the ground does take a long time. If you think TESTING is a waste of time and know better---apply for a job in the oil industry!!

[tommy25] 05/12/2016 08:19

they say they have 10billion oil in ground, but always want to do more testing. if they had that much oil they would be getting it out the ground and not doing timewasting testing. short to 0p.

[hazelst] 05/12/2016 08:17

Fantastic news!

[datait] 05/12/2016 08:16

Once the sellers are gone this will quickly move up the daftys will be wishing they didnt sell.

[wisteria2] 05/12/2016 08:13

POW ,BOSH,ZAP, BIFF!!

[temmujin] 05/12/2016 07:24

big dave doesnt beat about the bush..like his style

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David Lenigas ‏@DavidLenigas 7m7 minutes ago
Stunning news just out from UK Oil & Gas Inv PLC: Drilling Plans & Oil in Place Update @UKOGlistedonAIM …
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David Lenigas ‏@DavidLenigas 14m14 minutes ago
Great to see the @SoloOilplc and @AminexPLC news just out from Tanzania on 2 new gas wells drilling update. Time to rock-n-roll.

[temmujin] 05/12/2016 07:15

baa humbug!

[funkmasterp12] 05/12/2016 07:14

Funny how it doesn't mention anything about cost, or plans to finance.

[temmujin] 05/12/2016 07:13

i like the word 'transformational!'

If so proven, given the sheer size of the PEDL234 Licence, our 100% interest, and the existence of further multiple identified drilling targets, the impact of BB-1 success would likely be transformational.

[funkmasterp12] 05/12/2016 07:07

Here cometh the ramp. I thought they'd need money by January and it looks like that may be the case, if you're a cynical git like me.

[moneymunch] 05/12/2016 07:06

Stephen Sanderson, UKOG's Executive Chairman, commented:

"The Nutech analysis securely underpins our rationale for the Licence acquisition and BB-1 drilling plans in 2017. This study, and the resultant four-fold increase in the Company's net Kimmeridge oil in the ground, clearly highlights PEDL234 as a potential flagship asset to sit alongside Horse Hill.



The BB-1 well is designed not only to test a geological mirror-image of the Horse Hill Kimmeridge oil discovery, but, more significantly, to also seek to establish whether Kimmeridge Limestone oil is truly an extensive resource play. If so proven, given the sheer size of the PEDL234 Licence, our 100% interest, and the existence of further multiple identified drilling targets, the impact of BB-1 success would likely be transformational.



Our wider strategy over the forthcoming 18-24 months aims to de-risk the overall Kimmeridge Limestone oil play, both commercially and geographically. Through the planned extended production testing, sidetrack and new well at Horse Hill, the goal is to establish that the Kimmeridge can be brought into commercial production. In parallel, our three-well exploration programme of BB-1, Holmwood-1 and an additional PEDL234 well, also aims to demonstrate that Horse Hill success can be replicated over the central "sweet-spot" of the Weald Basin. We look forward to this journey and eagerly await the start of BB-1 in the first half of 2017."

[moneymunch] 05/12/2016 07:05

5 December 2016

UK Oil & Gas Investments PLC

("UKOG" or the "Company")



PEDL234 Licence, Drilling Plans & Oil in Place Update, Central Weald Basin, UK



Highlights



· Kimmeridge Oil & Gas Limited plans first-half 2017 Broadford Bridge-1 exploratory well to test naturally-fractured Kimmeridge Limestone reservoirs as proven at Horse Hill-1



· Within PEDL234, Nutech calculates a P50 Kimmeridge Clay Formation ("KCF") oil in place ("OIP") of 7.12 billion barrels ("BBO"), of which 1.71 BBO lies within Kimmeridge Limestones





· PEDL234 increases gross attributable P50 KCF OIP within UKOG's licence interests in the Weald by 72%, from 9.95 BBO to 17.10 BBO, representing approximately 21% of Nutech's calculated Weald Basin-wide P50 KCF OIP of 81.95 BBO as announced in October 2015



· PEDL234 significantly increases net attributable P50 Kimmeridge Limestone OIP within UKOG's licence interests in the Weald Basin by 348%, from 0.54 BBO to 2.41 BB



UK Oil & Gas Investments PLC (LSE AIM/ISDX: UKOG) announces that Kimmeridge Oil & Gas Limited ("KOGL"), has informed the Company that analysis by US petrophysical specialists Nutech, calculates that a most likely or P50 OIP value of 1.713 BBO lies within the Kimmeridge Limestone ("KL") reservoirs underlying its 300 sq km Weald Basin licence PEDL234 ("Licence"). As previously reported, these naturally-fractured limestones flowed oil at an aggregate stabilised flow rate of 1,365 barrels per day ("bopd") from the Horse Hill-1 ("HH-1") well, in which the Company has a 31.2% interest. HH-1 is located 17 km to the north-west of the Licence. The entire KCF within the Licence is calculated to contain a total gross P50 OIP of 7.120 BBO. The Company, via its ownership of KOGL, holds a 100% interest in the Licence.



With the acquisition of the Licence, together with the purchase of increased ownership in Horse Hill (PEDL137 & PEDL246) and Holmwood (PEDL143), the Company's estimated net attributable P50 total KL OIP within its licence interests in the Weald Basin, has increased by 348% since October 2015, from 0.539 BBO to 2.414 BBO. Similarly, the Company's estimated net attributable P50 KF OIP has increased by 315% from 2.368 BBO reported in October 2015 to 9.831 BBO.



The gross P50 KL OIP contained within the Company's licence interests in the Weald Basin increased by 82%, from 2.098 BBO reported in October 2015 to 3.811 BBO. Similarly the gross KCF OIP increases by 72%, from 9.952 BBO reported in October 2015 to 17.072 BBO. As illustrated in Table 2, below, this gross P50 KCF represents approximately 21% of Nutech's Weald Basin-wide KCF P50 of 81.915 BBO as estimated and announced on 21 October 2015.



The results of Nutech's analysis are illustrated in Tables 1 and 2 below.

[beebong1] 02/12/2016 10:03

And my point is made.
Imaginary oil to fire imaginary oil fired boilers to produce imaginary electricity all provided by some bloke called Dave whose claim to fame is running a rubbish free TV channel!!!

[temmujin] 02/12/2016 09:21

smell of oil in the brockham air or is it dave lenigas's fart?

[datait] 02/12/2016 09:08

Ok folks mm's getting ready to move up again.

[hazelst] 02/12/2016 08:27

He's back! That means it's time to buy.

[datait] 02/12/2016 08:19

Over the next 3-4 months oils stocks will have a great time. This has been a cycle and now we are coming out of it.

[datait] 02/12/2016 08:17

Told you it would move up mm's on the move now folks so buy at these crazy prices while you can.

[datait] 02/12/2016 08:12

1.4 will go shortly folks mm's moving up.

[datait] 02/12/2016 07:58

Day by day the oil price will rise, its onwards and upwards now folks.