Work2Rule
07 Jul 2017
Re: PL-2002 Spudded 30.6.17 I think it will be sooner and then the farm will presumably be based on the trial test flow so this could be early next month.Also noticed that C-NOLPB will be meeting on 25th so hopefully G2 have their side-track paperwork in. I re-read the option and I think they have to flow test their well by 26.12.18, I had previously assumed that this 24 month period ran from end of due diligence.
SPOKY
06 Jul 2017
Let's see what tomorrow brings 1p+ NiceWhat a week, let's see if we can get to that 52week high.This time I'm not selling any of my shares, until the RNS is out.which if as suspected, could see this doubling in price $$$
SierraBravo
06 Jul 2017
Re: PL-2002 Spudded 30.6.17 Wonder how long it will take? Then 2-4 weeks test so should know fairly soon.I note also that a seperate farm in is to be negotiated for new wells etc. So terms will remain unknown for a few months at least.But it is going in the right direction.
highwire
06 Jul 2017
Re: PL-2002 Spudded 30.6.17 [link]
Work2Rule
06 Jul 2017
PL-2002 Spudded 30.6.17 Enegi PVF Port au Port #1 ST #3 Wireline Intervention 2017 (2017-135-01-01) N 5372856 E 335490.32 PL-2002-01(A) June 30th, 2017 Well Intervention Operations
Work2Rule
05 Jul 2017
Re: RNS...Back to producing,soon G Hill. SBDuring recent delvings, I have seen a recent article relating to Brian Hickey our former ops manager at PDI Production (and currently Shoal Point), regarding the need to get an unobstructed well at GH, this has been virtually confirmed by the new PVF proposed farm in to be announced. Brian through PVF also had Dragon Lance as a client so what he doesn't know about GH is probably not worth considering. Its great that after the Black Spruce affair (I knew they were lying about that rig) we might see Newfie back on track again
Landlocked Viking
05 Jul 2017
Re: Busy day It appears that our 1 / 2m seller is quiet today. A good rise being seen./
SierraBravo
05 Jul 2017
Re: RNS...Back to producing,soon G Hill. Hi W2R,I am unsure if pvf have published full details of their plans. It is, of course, encouraging that they are prepared to make the investment and expect a decent ROI.I also dont know how big they are etc to ascertain how substantial it may be to them.It is also worth remembering the Langdon report which suggest good overall recoverables and the fact that Hunt did get about 2000 bopd briefly.I think that there are a lot on this board who are pleased that focus has moved back to NF since that is what they originally bought in for.Fingers crossed it works out. I will be keeping an eye on newsflow.
Work2Rule
05 Jul 2017
Re: RNS...Back to producing,soon G Hill. Hi SBLong time.We had that distribution cost discussion some time ago when ST#3 was meant to free flow.Personally I'm looking forward to regaining a working asset on the balance sheet even if the P&L may initially only show HO expenses being covered.ST#4 will be announced within days and that will finally be the game changer I think.
SierraBravo
05 Jul 2017
Re: RNS...Back to producing,soon G Hill. Just remember that nuog get no revenue at all until pvf's no doubt fairly substantial costs have been recovered. After that it is 50% of what is left over after pvf production costs.Transport costs are an issue given the details produced by the co when it was last producing. Also the future of come by chance as the only local refinery is under threat. Nort atlantic are trying to sell it . Other markets will be more expesive to reach should it become necessary.However nuog are insulated from the downside risk, but amy upside for the reasons above might be longer coming than expected.
Work2Rule
05 Jul 2017
Bentley Field speculation Whalsay looking fore a low OPEX/CAPEX development solution for the Bentley Field:[link]
Supertag
03 Jul 2017
I am in now! Let's see how this goes then!GLA Supertag
danpoe
03 Jul 2017
RNS...Back to producing,soon G Hill. NU-OIL AND GAS PLCAIM symbol: 'NUOG' 3 July 2017 NU-Oil and Gas plc("NU-Oil" or "the Company"
Operations Commence on PL2002-01(A) and Board Change PL2002-01(A) Further to the announcement of 22 June 2017, NU-Oil, the independent Oil and Gas Company, is pleased to announce that operations on onshore petroleum lease PL2002-01(A) in western Newfoundland, Canada have commenced. Approval for the first phase of the work programme has been received from the Department of Natural Resources and PVF Energy Services ("PVF" have commenced the approved operations. As previously announced, PVF have agreed to provide 100% of the financing for a work programme which will consist of two phases ("Work Programme". The first phase involves a wireline operation to clean up the PAP#1-ST#3 well and mill out a physical obstruction in the completion that is believed to have been restricting flow. The well will then be flowed for a period anticipated to be between 15 and 30 days to allow for reliable analysis and evaluation of the resulting production. Subject to satisfactory results, a rig will be mobilised to site to undertake the second phase of the Work Programme, which will include recompletion of the well and installation of an appropriate artificial lift system. The Company and PVF have agreed to share Net Revenue from production from petroleum lease PL2002-01(A) on a 50/50 basis following cost recovery by PVF. Enegi Oil Inc, NU-Oil's wholly owned subsidiary, will remain as Operator. Pursuant to the Production Sharing Agreement, PVF have the right to drill new wells on the lease. Both the Company and PVF expect to conclude a farm in agreement to cover this scenario in the near future. PL2002-01(A) contains the Garden Hill Field Trend, which is a proven hydrocarbon bearing accumulation beneath the Port‐au‐Port peninsula in Western Newfoundland that is estimated, based upon internal reservoir models, to contain between 83 and 341MMBO in‐place, increasing to between 136 and 591MMBO when considering the mapped offshore extent. PL2002‐01(A) covers an area of 16km2 and holds between 21 and 97MMBO of this total. Initially discovered in 1994 with the "PAP#1" well, the conventional Lower Ordovician, Aguathuna Formation reservoir has since been penetrated by three appraisal side‐tracks, which support the theory that reservoir productivity is linked to hydrothermal alteration. Extensive testing at the Garden Hill Site observed a lack of pressure depletion, indicating that a minimum connected volume in excess of 100 million barrels of oil is present. Board Change The Company also announces that Tejvinder Minhas, Executive Director, has moved to a position of Non-Executive Director with the Company, effective from 3rd July 2017. The increasing technical focus of the Company has been the key reason behind the mutually agreed decision and Tejvinder will continue to support the Company going forward from his role as a Non-Executive. Nigel Burton, CEO of NU-Oil, commented:"The Company is delighted that the workover programme at PL2002-01(A) has commenced on schedule. This new activity and investment at the Garden Hill Field is expected to lead to production being reinstated. I would like to thank Tej for his contribution to the Company in his role as an Executive Director and look forward to and welcome his future support on the Board as a Non-Executive". Enquiries: NU-Oil and Gas plcAlan Minty, Executive Chairman Tel: +44 161 817 7460Nigel Burton, CEO Tel: +44 7785 234447 Strand Hanson LimitedRory Murphy/Ritchie Balmer Tel: +44 20 7409 3494 Beaufort Securities Limited Tel: +44 20 7382 8300Jon BellissElliot Hance St Brides Partners Limited Tel: +44 20 7236 1177Elisabeth Cowell
Landlocked Viking
22 Jun 2017
Busy day 12% of all shares turned over today with some retrace on the highs of yesterday and this morning. It looked like there was a 1 & 2m seller in the market today. I am optimistic if this gains the approvals and the operations progress smoothly.GLA/
alltold9
22 Jun 2017
I LIKE (LOVE)! The RNS stating the heavy equipment has arrived, and imminent recommencement of production, hence revenues. What a bargain.
