GRAMPSAV
22 Feb 2018
They should have listened to DL David Lenigas actual statement on Twitter.B.B. should have never been drilled with water based muds. I told UKOG that from the beginning. But hey.
admiralty12
22 Feb 2018
Sidetrack There has been speculation that there might be some sort of Jersey O&G type sidetrack about to happen where the SP takes off after a dissapointing original well.That situation was quite different as the initial well was a duster - just water encountered, but the log showed a potential oil bearing sand. UKOG has not has a duster. It has a poor well formation. The sidetrack would be to try and enter into a (potentially) more productive formation AND avoid the formation / stimulation issues so far encountered - essentailly it's having another go. In this case you would have to consider it very carefully as you will be plugging back and starting again in the original well but higher up, i.e it's really a last ditch effort and you would lose other formations.Regarding oil based muds, I was never a mud man but Limestone formations may not take to OBM's (I saw them used in shales sometimes) and there may be environmental issues, so i don't think it's quite as easy as DL suggests.
BarmyOwl
22 Feb 2018
Re: All is not lost. What's wrong explai... If they are allowed to drill further then this is good and makes me even more optimistic, just sceptical as Angus were in trouble when they drilled extra sidetrack
Tuckman1
22 Feb 2018
Re: All is not lost. What's wrong explai... BarmyOwl, they have got local council approval until end of September I think. Just like at December, I dont think that the OGA will be a difficult process to extend. Even now I guess they will be looking at it to finish off what they are doing now, also expect that in the next update!The longer the KL5 test goes on then no chance they will be finished KL1 before end of this month.As the council approval from West Sussex is September I would not be surprised if they get OGA approval to September and revise their plans to side track and test before this time frame runs out! Extending or renewing the council limit could take a lot of paperwork and more meetings!Unless it is shut down of course but who knows!!! They are not the best at communication
hopetown
22 Feb 2018
From "Baits" on LSE This question was posed on the Angus board.I'm Asking here because i prefers this bb, If UKOG just keep pumping continuously and bring a lot of the fine broken shale and the grunk left from the old acid wash etc up to surface and they eventually get to a point where It flows almost clear of debris is there not still a 50/50 chance between it working and flow rates improving, or that it stays the same or gets worse as the well blocks up? Here was my answers to that question.Personally I do not think the cement squeeze was successful, they cocked it up and are using excuses to save face. I know what I would do if in SS shoes if I thought there was a lot of oil there why look else where at this moment in time buying other bits of land, I would use the money on another sidetrack after learning what they learned on the two cockups they appear to have done. Unless he can produce oil from BB no one will believe him on any other drill he does where ever that may be in the Weald.The reason for my answer is this. Time is money it would not take long to get OGA permission to do another sidetrack, it would take longer and cost a lot more money to buy more land and have to wait for the permissions they would need and drill a complete new well unsure if you would find any oil, that would eat into their money a lot faster than doing a sidetrack on something you are sure can deliver in the long run.If SS does not go down the root for a new sidetrack which in itself will give people hope and also no doubt rase the share price, he should not be in charge.Wasting money on new land acquisitions at this stage of the game is complete madness with the YA hanging over him.That is they way I feel about things.Just my opinion of course.
BarmyOwl
22 Feb 2018
Re: All is not lost. What's wrong explai... Tuckman,They need to get regulatory approval to re drill sidetrack and they only have til end of month with oga approval.We all know what the council is like to grant this sort of thing, takes years.
Tuckman1
22 Feb 2018
Re: All is not lost. What's wrong explai... From the original loanThe Loan, as a source of general working capital, will enable the company to carry out its stated forward drilling and testing programme over the coming 12 months. This programme includes the completion of the BB-1z flow tests, the forthcoming production testing and appraisal drilling programme at Horse Hill and the drilling and testing of the Holmwood exploration prospect, a Horse Hill-1 and BB-1 geological look-alike. I will just wait and hope to see a revised plan going forward soon! I wonder what will be altered if anything, however unless BB is really bad and `not so close` then I would expect the sidetrack to be done sooner rather than later!
admiralty12
22 Feb 2018
Re: All is not lost. What's wrong explai... "Also IMO I believe there will not be a substantial cash loss or drain with this overrun as apart from a few extra weeks of labour costs etc nothing expensive has been `on hire` yet!"Sidetrack with MWD, DD, casing, wireline & rig etc will be £1million or thereabouts
marquis
20 Feb 2018
Sold off UKOG shares: consider Petro Matad (MATD) fully funded for a 4 well drilling programme for 2018 with seismic data results due out shortly. Do own research before investing.
Moneymaker
10 Jan 2018
Excellent book to read HELLO, I have read this excellent book bought on Amazon : Title : DAY-TO-DAY OIL & GAS TRADING AND SHIPPING DELIVERY: INSIDE THE OIL & GAS MARKET Can you advise any other excellent book to read? Thank you
Achilles
27 Dec 2017
Admiralty12, your points are well made.
More4us
23 Dec 2017
THE TELEGRAPH The most-bought shares of 2017 #UKOG #UK #Oil & #Gas #Investments BY Laura Suter 23 DECEMBER 2017 • 7:45AM [link]
More4us
22 Dec 2017
#UKOG Plenty of excitement for UKOG shares as a newsletter emerged on the afternoon of December 21st on various Facebook and Twitter #Weald #Basin UK [link] #UK #Oil & #Gas #Investments one of #five slick oil picks for #2018 #UKOG [link] #UKOG [link]
