Uk Oil & Gas Share Discussion Threads

[activeservo] 21/4/2017 13:30

All of it will become commercial at some point.

With brexit, the U.K. Government will want assurances of its own oil and gas reserves ASAP (one of the reasons why the OGA was set up) and with investment increasing in shale it won't be long before permissions are given and it all kicks off.

[mikeygit] 21/4/2017 13:10

Yes I guess the BIG BOYS did not find it in the 60´s and are waiting to see if new technology has made a difference. Northern Petroleum sold Markwells Wood as they felt it was not commercial---their CEO who I am in touch with occasionally I think is sceptical---but hey ho fingers crossed. If not DL and co have just talked up the biggest faux par ever--I should think.

[activeservo] 21/4/2017 09:47

A UK based "big boy" which will probably snap it up if the risks are low enough:

[funkmasterp12] 21/4/2017 09:06

Ah don't get me wrong Mikey, there's oil there. I too trust what Nutech et al have said, there's no reason at all to doubt them. What remains to be seen though is whether it can be extracted commercially.

If it's as big as they say, there's surely a reason the big boys haven't touched it. And so far none of the HH consortium companies have a proven business model which is viable without shareholder/loan funding. It's all ifs and buts still - even nearly three years after the spud.

If they can prove viability then obviously this is a significant find. My thoughts are though before that happens anyone buying now will be diluted into oblivion and wait potentially years to see any kind of return.

[mikeygit] 21/4/2017 07:47

OK Funky--We must leave it there until--as you say PROVEN beyond doubt--but my money is on the findings of NUTEC and Schlumberger who, don´t forget´are the best in the world at their job. Maybe one of us is going to have egg on our face?? Hope not me!! Good Luck anyway. Those two companies certainly would if their results end up incorrect. Not only do they say there IS oil there--which I do not think anyone disputes--even you--but they also, most importantly,, estimate the recoverable amount, also in conservative amounts.

[funkmasterp12] 21/4/2017 07:09

Because the Swampys of the world oppose any drilling action! I'm not saying there can't be oil in commercial quantities, I'm saying as of yet it hasn't been proven.

[uxbridgearms] 21/4/2017 01:14

If there is no oil in commercial quantity then why is Surrey CC trying to stop us finding out?

[mikeygit] 20/4/2017 19:40

activeservo---Thanks, a very measured response to Numpty Funk!! What more proof does he need that oil is there in good, high quality quantity than 1600 barrels a day from the initial find from ONE well and there are going to be many wells dotted around The Weald producing good quantities. His glass is obviously not only HALF empty but NEARLY empty

[activeservo] 20/4/2017 17:16

I've worked for a small/medium sized oil and gas operator for the last 15 years.

Until nuclear becomes truly commercially viable (i.e. without subsidies) gas will remain the highest energy priority over the next few decades. Not renewables or any of the other "ideal" supplies, unless we all suddenly decide to fully embrace climate change, but I doubt that.

Until oil and gas becomes like gold dust (literally!) it'll remain a priority.

Full exploration and production of the Weald and all the other UK onshore supplies is simply guaranteed. It's why O&G operators are starting to increase investment in it and why UKOG exists in the first place!

Personally, I see onshore really taking off in the next 5-10 years. In which case investing long term in UKOG is a simple relatively low risk choice.

Always be ahead of the curve.....

[moneymunch] 20/4/2017 14:30

Lol funky numptie, and there lies the opportunity, Nutech and Schlumberger's assessment suggests multi-billion barrel potential across the Weald.....HH Ewt's and Brockham's production will give the market a good idea of what % is recoverable....we know it's of the highest quality, and if confirmed to be recoverable in massive volume, then the Govt. will make its extraction a priority as will be the case with the Northern shale gas reserves....a newly independent UK Plc needs home grown energy security, the North Sea is on the wane and if Nutech and Schlumberger's multi-billion barrel assessment is correct, then the oil will be extracted, no doubt with the help of a major or two. Gla holders ;-)

Ps TOTAL already hold 35% indirect interest at HH through their multi-million investment in Tellurian/Mpet......I'm sure they're keeping a close eye on proceedings. :-)

[funkmasterp12] 20/4/2017 11:09

"With all the oil that is able to be got out of the ground, one wonders why the UK Govt has not stepped in BIG TIME to say enough is enough"

Because there's no proof yet that anyone can extract it commercially (or indeed if the whole field is viable) and frankly it's chicken feed compared to other energy priorities.

[mikeygit] 19/4/2017 12:07

Just seen the You Tube piece and does it not frustrate everyone to hear how futile our UK Planning Laws are?? The head in the sand approach beggars belief. With all the oil that is able to be got out of the ground, one wonders why the UK Govt has not stepped in BIG TIME to say enough is enough, Get the bloody black stuff out and boost the UK economy. Currently it seems that we are beholden to a group of fuddy duddies who are scared they may lose a few votes at polling time and cannot make a decision to save their lives. For crying out loud this appears to be HUGE and the opportunity for the UK to be more self sufficient is going begging. I really hope that Lenigas can wave the big stick and get things going---as said in his piece---and on more than one occasion he has said it----the UK was half a day away from running out of gas, and whilst we all talk about OIL there is also loads of gas to be got out as well!!! For crying out loud, get this whole thing going---not just for our investment but for the whole of the UK economy!!

[mikeygit] 19/4/2017 11:45

Yes MM-- have posted on DOR---and looks like DL--if he has to---will take SCC to the cleaners ¨I want to nail them to the cross´were DL´s actual words!! Say what you mean DL!! very silly of SCC not to back down, and quickly IMO

[moneymunch] 19/4/2017 10:23

This one TU?

Interview with DL and Tidswell from Angus, 34 minutes into interview Tidswell's confirms " We have planning from SCC......confusion from SCC and one or two members who may feel differently ( over 600 Councillors ) but we have taken legal advice and we are 100% certain that our planning holds......"We have planning!!! "

[moneymunch] 19/4/2017 10:15

They bought it from BP back in 2011, long after peak production of 110,000bopd , I think it was producing c18,000bood at time of the sale.gl:-)

ENERGY giant BP has announced the sale of its Wytch Farm oilfield in a deal worth a staggering $610 million.

The Purbeck plant, the largest onshore oilfield in Western Europe, has been sold to Perenco UK Ltd, the British arm of an Anglo-French independent oil and gas company with interests in 16 countries.

It is expected that all employees based at the Wytch Farm plant will continue to work for the new company.

An immediate $500m payment has already been made, with a further $55m to be paid on completion, expected at the end of 2011.

[mikeygit] 16/4/2017 17:47

I see Perenco--a french owned company---owns Wytche Farm Oil field. Hope they do not come in with a take over of all our sites in the Weald. They are not quoted on the LSE and therefore I take it that would not make our share easy to sell or would we get a fair price!! No use speculating yet what may happen, but would be better to have a BP or Shell acquisition--if that came about

[theuniversal] 16/4/2017 15:49

Moneymunch can you post the investor show link from angus on lse on here i cant seem to find it cheers bud

[mikeygit] 12/4/2017 16:41

EXACTLY MM --what I have been saying for ages!! So what is all the fuss about in the Weald. Why don.t the NYMBIES go and have a word with the residents around Poole??

[moneymunch] 12/4/2017 13:08

Wytch Farm will be the benchmark and template for the development of the Weald Oil Basin, the largest onshore oilfield in Western Europe, 100 wells at 13 well sites dotted around the pristine and natural beauty of Poole harbour, peak production of 110,000bopd and still producing 16,000bopd, and the vast majority of the public including locals to the area are oblivious to its existence. Gl ;-)

[activeservo] 12/4/2017 11:27

Jumped in last week on speculation over BB and the Surrey CC approval in July. Easy one this.

I live just down the road from horse hill and as much as I hate onshore oil and gas and actually work in the industry, it's inevitable the work will go ahead. It's too valuable to the U.K especially with brexit.

The "greater good" excuse always wins eventually. It's why we end up with HS2 and bypasses that are ploughed through people's houses and beautiful countryside...

[moneymunch] 11/4/2017 12:45

At least the local residents are being kept in the loop. Gl :-)

There will be a meeting in the Village Hall on Easter Sunday (16 April) - 2pm - 4.30pm, when you will be able to find out more - Extract taken from the Brockham Village Website

[mikeygit] 11/4/2017 08:15

Shame things have turned out like this because of all people/organisations one should keep good relations with is the Local Council--Surrey have made a big blunder---looks like, and they could end up with egg on their face. They need to gracefully backtrack and admit they got it wrong. IF they went to BBC and Times, not the best diplomatic move. Live and learn Surrey CC!!!

[moneymunch] 11/4/2017 06:31

DL



"There's been a whole lot of palaver in the media from wrong information from surrey county council to the bbc and the times a week and a half ago. They have been informed by a QC, the biggest in the country, that the council is wrong , and the council is now trying to work out what they do to get out of it. But I dare say in the next week, if they don't amend their views, then we will be publishing the QC's opinions and taking the BBC and the Times to task."

"The concern I have with surrey county council is that they contacted the BBC and the Times with false information as far as we are concerned. And we have got the number one QC in the country who has told them that."

It really is a great interview by DL....extraction costs at Brockham will be $10 for every 1000bopd and $5 for every $2000. Gla ;-)))

[moneymunch] 10/4/2017 14:25

Fingers crossed TU, and oil forecast to hit $70 this year, and looks set to break $56 today. :-)