Upland Resources Share Discussion Threads

[spangle93] 06/2/2018 10:40

Water depth is only 35m souls, so it would be a struggle to get an FPSO over subsea trees. A small fixed platform is a likely option based on Water depth alone, but how extensive is the field, and as it's a shallow reservoir, could all the wells be drilled from one site? So then you start playing with platform numbers and locations.

Then there's the delight of how to get the oil to a market. Tie in to the Beatrice export line to Nigg would be a candidate, but it depends on its condition, bearing in mind Beatrice partners have applied for decommissioning. Could they tie back to a new onshore separation plant? It would be cheaper to do a subsea development to shore (35m is just enough depth for subsea trees), but think of all those folks like fishermen and folks living near Brora who wouldn't want that.

So, let's hope for success with the drillbit, but even if that were the case there would be lots to consider before anyone cut any steel - your 2-3 years I think will prove optimistic but it's the right sort of magntiude. [20-30 years if it were Italy ;-)]

As Jungmana reminds us, Cove grew exponentially, but sold long before a cubic foot of gas was produced

edit - Zengas, touche ;-)

[zengas] 06/2/2018 10:39

tyler

they don't necessarily need to be producing oil, finding it would be enough and even farming it out or selling up. Cove never produced one barrel and they were involved in 8 successful wells before the first one was every flow tested.

[jungmana] 06/2/2018 09:55

If Steve can replicate with UPL taking Cove from £2m to £1.2bn market cap in less than 3 years then those of us buying now will be well chuffed.Very experience team here and Tony Fernandez has definately seen something big to invest in an oil tiddler.

[euclid5] 06/2/2018 09:40

Yes, soulsause is correct, can take 2 - 3 years before it is placed into production

[soulsauce] 06/2/2018 09:37

You're welcome tyler.

I would imagine with it's location there will be plenty of pipelines close by for connection but may be production could be via FSPO, floating off-take service ship. So IF we do find anything there is lots of planning and permitting to do.

[soulsauce] 06/2/2018 09:32

Yes tyler, even onshore with the requirement of production permits etc it can still be a lengthy period so with the added complication of offshore 2-3yrs is about right.

[tyler90] 06/2/2018 09:30

Thanks soulsauce!Still learning this new technology lark, although my grandkids think I am pretty good for my age :-)

[tyler90] 06/2/2018 09:28

euclid5, 2/3 years seems a long time in between finding oil and drilling it for production? Is this the norm in the industry?

[soulsauce] 06/2/2018 09:26

Hi tyler after a find, and lets hope we do find oil, then to actually get it flowing can take quite a lengthy period depending on methods of production and more wells required. A lot of planning is required.
That shouldn't matter as any find would propel our share price so far skyward we will all be happy bunnies.



Just a tip with your links tyler if you change the tt in http for TT it should work.

[euclid5] 06/2/2018 09:20

Becauae it's a Exploration well & not an Appraisal well

[tyler90] 06/2/2018 09:17

https://www.energyvoice.com/oilandgas/north-sea/162707/upland-hoping-get-tune-wick-field/?utm_source=twitterA bit confused (does not take much!)If drilling of Wick is scheduled for late August or Q4 then I would expect oil to be produced within a few months of a successful drill.Why is SS saying 2/3 years in the above article?

[tyler90] 06/2/2018 08:49

No, of course not. Thanks

[soulsauce] 06/2/2018 08:43

Hi tyler, your link wasn't working, hope you don't mind me reposting.

[tyler90] 06/2/2018 08:41

Paraguay, welcome!Good move, mm's will be selling these shares they have got on the cheap at much higher prices in the next few days/weeks.

[paraguay] 06/2/2018 08:35

That's good tyler because I'm a newbie who just bought in this morning. Been watching in the wings for a while and liked what i saw. Time will tell.

[tyler90] 06/2/2018 08:13

Today is 'sales day' in the market. Market makers will drop the bids on practically everything this morning to panic some into selling and there will be many who will panic & sell.

[tyler90] 03/2/2018 11:54

Interesting read and highlights the potential in the Sarawak region. https://thelawreviews.co.uk/edition/the-oil-and-gas-law-review-edition-4/1140335/malaysia

[argyle underclap] 02/2/2018 20:27

Timed at 14:39 yesterday at 1.8p

[tyler90] 02/2/2018 18:38

Thanks, thought it was.

[soulsauce] 02/2/2018 18:35

Yes greater than 3% tyler

[tyler90] 02/2/2018 18:05

8m is about 2% of the total number of shares at present. Remind me, does the mkt need to be informed about this stake or is it 3% or above?

[soulsauce] 02/2/2018 17:49

Wouldn't be surprised if Tune may be getting a few more in the market. We will see in time.

[tyler90] 02/2/2018 17:22

Okay, who bought the 8m then?

[tyler90] 02/2/2018 10:43

The market is soaking up all the sells; a couple of 1m buys and they will be all swallowed up.