Uk Oil & Gas Share Discussion Threads

[moneymunch] 05/6/2017 21:49

BB drilling update expected soon and great for added value if it also includes EA permit variation approval, also expected shortly. Gla holders. :-)

28th May 2017
The planning consent from WSCC permits us to both drill an exploratory well and flow test for up to 14 weeks. However, the original EA permit for the Broadford Bridge-1 well, as at Horse Hill, covered only the drilling and well completion phase. Consequently, after acquiring the asset in autumn 2016, we sought permission from the EA at the beginning of this year for a variation of our existing EA permit to add a period of flow testing.

The flow test phase is designed to demonstrate conclusively that, in the event of an oil discovery, the Broadford Bridge-1 well (BB-1) can deliver an oil flow rate and recoverable oil volume that are commercially viable. The flow test
EA permit variation comprises an industry standard programme using the same substances and practices as performed at Horse Hill in 2016. This application is publicly available on the EA’s website.

We are awaiting the EA’s consent and expect the permit will be granted very shortly. Again, this permit will be a publicly available document. Interestingly, as part of the EA consultation period for the variation, EA received a very significant number of responses in support of our application and activities, something the EA admits it has not seen before in the oil and gas sector.

[edgein] 05/6/2017 14:14

Man they're some impressive numbers, 6% of the well revenue could provide the local council around £3m per well or £30m per 3 acre site. Just imagine if a company held for example the other 94% that's up to £47m per well! A few sites like that could make for interesting numbers for sure as this is one of the largest expo licences in the play.

Regaards,
Ed.

[rayrac] 05/6/2017 13:08

They are playing with it. I'll not be shaken nor stirred!😴 Just a matter of time⏳⏰🔜

[activeservo] 05/6/2017 11:35

I agree with MM that there should news this week re drilling progress.

I'm surprised the MMs haven't played about with the share price this morning, even at 10M vol. Perhaps they're gearing up for news later today or tomorrow.

[rayrac] 05/6/2017 11:14

Strange how trades @1.075 are booked as sells!

[rayrac] 05/6/2017 11:04

Make this your thread. There's a screwball on the other!👉999;👹

[rayrac] 05/6/2017 08:33

Morning mm, pleased to see you up and about.👉999;🗣

[moneymunch] 05/6/2017 06:57

Get ready for a BIG blue week ahead.....plenty of upside from now on in, in run up to results, BB drilling update this week more than likely........ "30 to 40-day exploratory drilling phase".....and so TD possible this month. Gla holders. Onwards and Upwards!!! :-)

[moneymunch] 04/6/2017 11:08

BB - Drill results expected in the next 4 or 5 weeks, and then straight into flowtesting at the same time permit approval is expected for HH's ewt's...the most exciting and defining period ahead, and transformational upside on confirmation of Ukog's expectations. Gla ;-)

The BB-1 well, is a deviated or "slant" well, designed to penetrate the entire Kimmeridge section, targeting the four naturally-fractured Kimmeridge Limestones (KL1-KL4) to confirm that KL oil is contained within a resource or continuous oil deposit. The well will test the southern edge of the basin within a mirror-image of the Horse Hill fault block. The Kimmeridge section is planned to be drilled at an angle of approximately 45 degrees to vertical and approximately orthogonal to the predicted direction of open fractures within the Kimmeridge.

Operations will include the acquisition of an extensive coring, electric log and borehole imaging data set to provide further key information on the limestone reservoirs and natural fracturing. All pre-drill tenders have been issued and a drilling rig chosen. We expect that the well will provide UKOG with a quantum leap in knowledge of these unique KL reservoirs.

Our planning permission also includes the ability to flow test the well for up to 14 weeks. If successful, and provided the tests are encouraging, KOGL would aim to apply for permanent production status from BB-1 by the end of 2018.

Due to our 100% ownership, if BB-1 is a discovery of similar nature to HH-1, it could result in three times the overall net oil production impact to the Company compared to Horse Hill. Furthermore, should BB-1 ultimately prove our hypothesis that KL oil lies within a wider resource deposit, the licence's 300 km(2) area could hold around three times the recoverable resources of the Horse Hill licences.

Consequently, it is our viewpoint that a successful outcome from the BB-1 programme could have a highly material and transformational impact upon the Company.

[moneymunch] 04/6/2017 11:07

HH - Permit Approval expected this coming month..... A potential stellar H2 2017 ahead. Gla ;-)

Much of the Company's effort over the past year was focused on the highly successful well tests at HH-1, and numerous follow-up analyses. Although we had expected to encounter moveable light oil in the Kimmeridge, the overall stabilised flow rate from the two uppermost limestones (KL3 and KL4), which aggregated 1,365 bopd of 40 API gravity dry oil, were beyond our highest expectations. These rates undeniably proved that the limestones could produce at initial commercial rates.

No evidence of depletion was indicated from the test data analyses.

We followed up the flow tests with the acquisition of Angus Energy's and Flowermay Limited's interests in the licences and the submission of an extensive planning application to undertake long-term production testing and drill further wells at Horse Hill. By agreement with Surrey County Council, the determination of the planning application will take place by the end of July following Surrey's May 4(th) local council elections. The timing is in line with our expectations to commence testing in 2017 and our future projected first-oil target. The testing will last for approximately six months.

The planned production tests are specifically designed to prove access to a commercial volume of oil in place ("OIP"). Consequently, we expect to be able to make a declaration of commerciality for the Kimmeridge and Portland following these test results.

[moneymunch] 03/6/2017 11:59

Cheers Ray and very kind words, it had already been posted on the Lse bb, but i'm just catching up after a few days away in France, very poor internet connection in deepest Carnac and too many posts on Lse to trawl through on my mobile, which was on go slow at the time. Good luck and looking forward to some significant upside this coming week.....the buyers are on their way back!!! ;-)))

[rayrac] 03/6/2017 11:41

Thanks for 'digging' that up for us mm! What the thread...and UKOG, would do without you putting it all on the 'map'! ...I'm extremely grateful, to whoever might be behind your moniker!

Might be even more grateful come the end of month? If not, I'll take it on the chin!

Singing in Chelmsford Cathedral this evening...male voice choir stuff.👉999;🗣ㇹ2;🕍👏🏽

Right, off out into the garden...sow a few weeds.🤢

[moneymunch] 03/6/2017 10:57

TD and lodgging data possibly by the end of this month!!! gla ;-)

"During the 30 to 40-day exploratory drilling phase, the average related traffic flow on the B2133 will be around five HGVs each way per day, plus the light commercial traffic necessary for staff transport and supplies."

[rayrac] 03/6/2017 10:53

The trouble is...making money is not on the labour agenda..but taxing it, is!

it HAS to be earned, before it can be taxed! For instance, a teacher earns but doesn't produce. He/she does contribute, but only if there are enough earners to pay the tax that lets the teacher earn their cash.

Corbyn doesn't recognise that fact, or even believes in it....he's a very stupid, blinkered man!

Now for something different. I'll happily pay my cap gains! But I'd rather do it to a free enterprise government!👉🏿👍🏽

[moneymunch] 03/6/2017 07:57

ps Caroline Fife....British made biodegradable, modified natural plant starches!!!

Even though there are no potable drinking water sources underlying or surrounding the BB-1 site, it is the Company's policy to ensure that UKOG's drilling has zero-impact on any groundwater or potable water sources. Consequently, BB-1 uses a British made, zero-hazard, non-toxic, water-based drilling fluid to lubricate the drill-bit. This drilling fluid (or "mud") is made from biodegradable, modified natural plant starches.

[rayrac] 02/6/2017 17:27

See! We've gone organic. That should please the greens?... and the pinks, the browns the blues and whites.👱7999;👴ԁ05;🏼👤;

[moneymunch] 02/6/2017 17:15

It's definitely in our favour Ray...naturally fractured limestones and naturally fractured brittle Kimmeridge shale, with the top two limestones potentially vertically connected through the fractured clay..( as confirmed at HH and similar at Brockham ) .and the drill is going to slice through them including the lower two limestones at an angle of 50° and 1km horizontally....exciting stuff or what.....the potential flow from the oil saturated Kimmeridge interval could be breathtaking...ho Ho Ho. Gl :-)


The BB-1 well, an exploration step-out, is designed to penetrate the four target Kimmeridge Limestone units (KL1-KL4), at an inclination of around 50 degrees to vertical and at approximately 90 degrees to the predicted orientation of open natural fractures within the Kimmeridge. The planned overall horizontal deviation of the well is approximately 1 km to the north-northeast of the well site. The Kimmeridge Limestones are expected to be encountered at a drilled depth of approximately 1300-1700 metres, which equates to around 950 -1200 metres vertically below surface.

Even though there are no potable drinking water sources underlying or surrounding the BB-1 site, it is the Company's policy to ensure that UKOG's drilling has zero-impact on any groundwater or potable water sources. Consequently, BB-1 uses a British made, zero-hazard, non-toxic, water-based drilling fluid to lubricate the drill-bit. This drilling fluid (or "mud") is made from biodegradable, modified natural plant starches.

[rayrac] 02/6/2017 17:07

Role on next week eh. Wouldn't it be delightful 🙄 If it all came our way?

[moneymunch] 02/6/2017 17:01

All set for continued upward momentum as we approach the Kimmeridge limestones....and a drilling update next week more than likely. Gla holders, positive data will be transformational for Ukog 100% and all those invested. On and Up!!! ;-

[rayrac] 02/6/2017 15:51

One of the best, pity they're not all like that?!

Btw, there are a few on this thread!😩

[kenbos] 02/6/2017 14:45

Is that a politicians statement

[markycrispy] 02/6/2017 14:21

Well said Rayrac