Uk Oil & Gas Share Discussion Threads

[datait] 07/2/2017 07:53

Next news will be the go ahead for further oil flow rates anytime and I wont be surprised it that not tomorrow.

[funkmasterp12] 07/2/2017 07:39

End of 2018? No wonder this rampy RNS has suddenly appeared. Cash call coming? It can't be long now until UKOGs inevitable placing.

[datait] 07/2/2017 07:27

excellent news

[moneymunch] 07/2/2017 07:09

UK Oil & Gas Inv PLC (UKOG)

Tuesday 07 February, 2017
UK Oil & Gas Inv PLC

Upgrade to Portland Oil Resources, Weald Basin

RNS Number : 1648W
UK Oil & Gas Investments PLC
07 February 2017


UK Oil & Gas Investments PLC

("UKOG" or the "Company")



Upgrade to Portland Oil Resources, Horse Hill Oil Discovery, PEDL137, Weald Basin, UK



Highlights



· Xodus calculate Portland sandstone P50 Oil in Place ("OIP") of 32 million barrels ("MMbbl"), a 53% increase from the 21 MMbbl previously reported prior to successful 2016 flow testing



· Gross recoverable Portland 2C Contingent Resources 1.5 MMbbl



· Net UKOG attributable Portland 2C Contingent Resources 0.5 MMbbl



· Base Case Portland initial oil-rate estimated at 350 barrels of oil per day ("bopd") per well



· Ultimate recovery could be increased by a further 8-14% of OIP via early implementation of a water re-injection scheme. If successful, this could represent a 114%-440% addition to 2C recoverable resources, equating to a further 1.7-6.6 MMbbl gross recoverable, or 0.5-2.1 MMbbl net to the Company



· Work plans now aimed towards Portland long-term production by end 2018







UK Oil & Gas Investments PLC (LSE AIM/ISDX: UKOG) announces that a new Report by Xodus calculates the Horse Hill Portland sandstone conventional oil accumulation, in which the Company holds a 31.2% interest, to contain an OIP of 32 MMbbl, an increase of 53% from the previously reported 21 MMbbl of May 2015. The upgrade results from the incorporation of Nutech's revised petrophysics, as reported in July 2016. As previously stated by the Company, OIP should not be misconstrued as recoverable Contingent Resources or reserves, which are detailed below.

In March 2016 UKOG reported the final Horse Hill-1 ("HH-1") Portland test flowed at a stable dry oil rate of 323 bopd, producing light, sweet, 35 API gravity crude. The Portland was produced at the rod-pump's maximum achievable rate and thus flow was constrained by the pump's mechanical capacity. The test data analyses show no clear indication of depletion.

As a result of further analysis of the Portland flow test data, plus a review of similar producing fields, Xodus now assess the gross recoverable Portland 2C Contingent resources at 1.5 MMbbl. As a result, Company net attributable Portland 2C resources are assessed at 0.5 MMbbl. Calculated OIP and resources reflect oil contained in the entire Portland structure, as penetrated by the HH-1 and Collendean Farm -1 wells.

The Contingent Resource volumes given are those estimated to be attributable to primary recovery from the Portland reservoir. Results utilise a base case of three wells, draining both the Horse Hill and Collendean Farm fault blocks, each well with an initial production rate of 350 bopd.

The report also details that, for a shallow but permeable reservoir, such as the Portland, should a water re-injection scheme be undertaken to provide pressure support in the field's early productive life, it is reasonable to expect a material increment in overall oil recovery. The successful implementation of such a scheme is estimated to lead to the recovery of an additional 8-14% of OIP, equivalent to a further 1.7-6.6 MMbbl of gross recoverable oil, and a further 0.5-2.1 MMbbl net to the Company.

A summary of the Report's results is shown in tables 1 and 2 below. The Report's Executive Summary is also available on the Company's website: www.ukogplc.com

As previously reported in October 2016, HHDL submitted a planning application to Surrey County Council for an extensive HH-1 appraisal programme, including long-term production testing and a new deviated well, HH-2, designed to access the Portland in both the HH-1 and Collendean Farm-1 proven oil-bearing fault blocks.

H-1 Oil Discovery, Location and Company Interest

The HH-1 oil discovery well is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport. UKOG owns a 31.2% interest in PEDL137 via its 48% ownership of the licence's operator HHDL.

Stephen Sanderson, UKOG's Executive Chairman, commented:

"I am very encouraged by the report's conclusions, particularly with respect to the significant further oil recovery that could be obtained from a simple water re-injection scheme. Such schemes are typical practice in similar reservoirs in the US, but have not been widely utilised in the Weald Basin. We will aim to buck this trend, instigate such a programme and deliver the associated material monetary reward.



Upon the expected grant of the necessary regulatory consents, the Company is fully geared to start long term production testing at Horse Hill, commencing with the Portland. Our aim is to move towards a declaration of commerciality and stable long-term production from the Portland and Kimmeridge Limestones by the end of 2018.



Horse Hill is nicely poised to deliver a significant positive impact to the Company. The year ahead will be an exciting one. "

[datait] 06/2/2017 08:26

There is a clear buyer here folks.... UKOG will surge ahead very soon mm are already moving up. The share price will soon be as much as Angus if not more.

[moneymunch] 06/2/2017 07:37

Angus Farm In Holmwood.



Angus know what they've got at Brockham, and the reservoirs extend into Holmwood only 4 miles away.......Holmwood also lies on the up dip at a higher point, Leith Hill is the highest point above sea level in the South East...and so presumably any gas accumulation would be higher on the up dip....and so the gas encountered at Brockham could be in significant commercial volume across both license area's, as well as the likelihood of free flowing oil in the Kimmeridge limestones.....this could be big.......... Gla ;-)

ps The Albury gas discovery lies a few miles further east from Holmwood........there could be breathtaking volume.

[datait] 03/2/2017 12:39

All the oil stocks are moving up nicely and ukog will move up very quickly when you least expect it, watch this space.

[currypasty] 03/2/2017 12:01

its due another run up I supose

[datait] 03/2/2017 08:07

Will rise quickly this month

[moneymunch] 02/2/2017 13:04

Lenigas says “very important” Brockham well is key to unlocking potential of UK’s Weald basin

12:30 02 Feb 2017

We’re joined by David Lenigas, serial entrepreneur and proponent of Britain’s onshore oil industry, to discuss the programme at the Brockham oil field and what it means for the Weald basin’s Kimmeridge oil resources.

He also talks about the spectacular well results from Horse Hill, the upcoming flow testing programme there, and what comes next for oil firms targeting south east England.

hxxp:// www.proactiveinvestors.co.uk/companies/stocktube/6843/lenigas-says-very-important-brockham-well-is-key-to-unlocking-potential-of-uks-weald-basin-6843.html

[datait] 01/2/2017 16:01

Well said mikeygit

[mikeygit] 01/2/2017 09:31

Thanks Gismo--so true. I have personally experienced some of these ´professional´agitators, some are VERY nasty people who will try and intimidate folk and someone is in the background filming all this so if it goes to court, those trying to defend themselves against these ´swampies´get prosecuted. Lets hope common sense prevails and the planning goes through. The UK economy cannot afford for it NOT to go through. GLA

[gismo] 01/2/2017 09:13

Morning mikey yes it is ridiculous but it looks good that there is support for the drill. I think the unwashed are going all out to elevate the against numbers, so very sad when they use cars, bikes etc but they seem not to use soap!

[mikeygit] 01/2/2017 08:28

Yes have voted---lot of mis information. Of course UKOG and others will make sure everything is done to minimize any affect on the local community. Wyche Farm has been in operation for decades and do we here any protests about those oil wells?. it is protesting for protestings sake.

[gismo] 01/2/2017 08:18

Morning moneymunch

[gismo] 01/2/2017 08:18

Has everyone on here voted? If you own shares in this company it's vital to get your support vote in. The protestors are ahead but only by about 20 votes!

[gismo] 31/1/2017 21:37

Has everyone voted to support the planning at HH. Every vote counts please support it if you believe in the company

[datait] 30/1/2017 08:06

This will move up quickly when you least expect it.

[temmujin] 29/1/2017 14:28

my advice is forget about ukog but pile into angus,alba and solo...ukog going nowhere in short term

[datait] 27/1/2017 07:44

Just a matter of time now and we will have lift off, watch this space.

[palwing13] 26/1/2017 10:29

Everyone else is.....