Uk Oil & Gas Share Discussion Threads

[funkmasterp12] 09/3/2016 07:20

It's good news, but probably the last news now for some time. I wonder how many of our ramper friends here will magically disappear..

[sandeep67] 09/3/2016 07:19

When do you think results from Kimbridge flow are due? They said 24 hours last week.

[ibug] 09/3/2016 07:19

UKOG

‏@UKOGlistedonAIM

Portland Zone Flows #Oil at average stabilised rate of 168 Bopd over 9hours even with restricted pumping

[gazza102] 09/3/2016 07:14

Takeover offer could come at anytime. Got to be in it to win

[moneymunch] 09/3/2016 07:14

Lol the expectations for the Portland was c100 to 150 bopd, and the Kimmeridge wasn't expected to flow, we've got an average of 1,528bopd....beyond ALL expectations with more to come from the Portland with optimised pumping. No chance of 2p imho. GL ;-)

[simon8] 09/3/2016 07:11

not a bad result and in the ball park for the upper Portland - I guess we now await further news and reports and the "development" plan.
Expect the share price to stabilise around where it is now (or fall a bit as traders exit)for the foreseeable until the next news flow which won't be very soon... a lot of work behind the scenes will be required which shareholders won't see and will get impatient by. Expecting a field day from rampers and derampers alike and that will probably go on in earnest for weeks / months until we have a better picture of what is happening.
Good luck all.

[5baggersrus] 09/3/2016 07:11

I think a fall to 2p as the expectations were much higher. Then a steady rise over the coming days.

[ibug] 09/3/2016 07:07

The combined flow rate is the takeaway from this RNS 1528 bopd is a lot of oil.

[moneymunch] 09/3/2016 07:06

at an average stabilised rate of 168 barrels per day over a continuous 9-hour period.

" We look forward to the results from the optimised pumping programme."

[moneymunch] 09/3/2016 07:04

The Horse Hill-1 ("HH-1") well has now produced at a combined average stable rate of over 1,528 bopd from the two Kimmeridge and Upper Portland zones.

[ibug] 09/3/2016 07:03

09 March 2016

UK Oil & Gas Investments PLC

("UKOG" or the "Company")

Further Update on Horse Hill-1 Flow Test

Portland Zone Flows Oil at a Sustained Rate of 168 Barrels Per Day

UK Oil & Gas Investments PLC (London AIM and ISDX: UKOG) announces that Horse Hill Developments Limited ("HHDL") has informed the Company that 37-degree API, light, sweet, dry (99-100% oil) crude has flowed to surface, via rod pumping, at an average stabilised rate of 168 barrels per day over a continuous 9-hour period. The flow is from an 103-ft aggregate perforated zone within the Upper Portland sandstone interval at a depth of approximately 615 metres below ground level. Maximum flow during this test period was restricted by the initial rod pump configuration. The flow test will now continue with a pump configuration designed to permit optimal flow over a longer flow period.

The Horse Hill-1 ("HH-1") well has now produced at a combined average stable rate of over 1,528 bopd from the two Kimmeridge and Upper Portland zones.

It should be noted that the only commercial Upper Portland oil production in the Weald Basin is from the nearby Brockham field, 8 km to the northwest of HH-1, in which the Company has an indirect 3.6% interest. The Brockham field was discovered by BP in 1987 and flowed 28-degree API oil on an extended well test in 1988, at a maximum stabilised rate on pump of 117 bopd. A subsequent extended well test in 2001, prior to commercial production, produced oil at an average pumped rate of approximately 140 bopd.

Horse Hill-1 Discovery Well and Licence

The exploration drilling phase of the HH-1 discovery well was originally completed at the end of 2014. The well is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport. UKOG owns a 19.968% interest in PEDL137.

Stephen Sanderson, UKOG's Executive Chairman commented:

"The Horse Hill well still continues to flow and perform above management's expectations. Higher flow rates and markedly better crude quality than the Upper Portland oil from the nearby Brockham field make the HH-1's commercial prospects very real. We look forward to the results from the optimised pumping programme."

UKOG's Interest in Horse Hill

The HH-1 well is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport. UKOG owns a 30% direct interest in HHDL and a 0.72% interest in HHDL via its 6% interest in Angus Energy Limited. HHDL is a special purpose company that owns a 65% participating interest and operatorship of Licence PEDL137 and the adjacent Licence PEDL246 in the UK Weald Basin.

[forwood] 08/3/2016 17:02

Did well here today considering the wider market rout in commodities and oils

[forwood] 08/3/2016 17:01

janekane - so I can't, but the rest is true :-) And there's always the filter

[ibug] 08/3/2016 16:37

With the MACD finishing above the signal line the share price looks poised to rise tomorrow if positive news lands.

[cupra kid] 08/3/2016 16:24

I concur re Daitat. I have him on filter from a long time ago, can't remember why but some recent posts may explain it.Another steady day for UKOG giving very little back from the recent big gains. Any dips still being bought into. Bodes well imo.

[vitec] 08/3/2016 16:19

Market Makers make a market they do not speculate. They make their money by buying and selling and balancing the books not by accumulating shares on the basis of gossip and rumour waiting for an RNS to drop.

[datait] 08/3/2016 16:16

market makers might even try to get sellers before any news that might be out tomorrow.

[datait] 08/3/2016 16:12

Certainly wouldnt want to be out of this with a good chance of news tomorrow.

[datait] 08/3/2016 16:06

Watch as this starts to move up into the close folks.

[ibug] 08/3/2016 15:49

We should hear some news soon about the Lenigas visit to an oil major in the U.S.---will that coincide with an RNS?.