UK Oil & Gas Investments Live Discussion

woolface1 23 Oct 2018

Why no chatter? Yeah I hate it. I didnt really like the old setup but it was streaks ahead of this. Seems weird nobody posting though. I wondered if they were chatting elsewhere but LSE is hard work!!

jimonegbr 22 Oct 2018

Why no chatter? No I am still here but I think every one is just waiting for something exciting to happen, or they could just be hacked off with the new ii

woolface1 22 Oct 2018

Why no chatter? Why is there no chatter anymore. Is there only me with ii anymore?

Average_Dave 05 Oct 2018

Rns 05.10.18 No big surprises here. New bits are the Xodus estimate and that KL4 has started. The Xodus estimate seems high but as they mentioned this is not all recoverable. Not sure why publish such rates unless there is a standard recovery factor. Thought KL4 would start around the 15th, glad to see ahead of schedule. I wonder when we will get the KL3 flow rate and estimate. A_D

Average_Dave 24 Sep 2018

Angus rns 24.09.18 It’s on! Good news for the Weald. Angus Energy Commences Well Test at Balcombe First Hydrocarbons to Surface Angus Energy plc (LSE:ANGS), a leading UK conventional oil and gas production and development company, is pleased to announce the flow test of the horizontal well, Balcombe-2z, has commenced. First hydrocarbons have flowed to surface as expected in normative operations. Following completion, the Company will report results of the flow test in due course. A_D

simonmcmurdock 12 Sep 2018

Horse Hill Tankers Worth a read: UK Investor – 10 Sep 18 Should you buy UK Oil & Gas PLC (LON: UKOG) ahead of Horse Hills Kimmeridge... UK Oil and Gas PLC (UKOG) is an AIM listed oil and gas exploration company with a portfolio of 8 direct and indirect UK onshore exploration, appraisal, development and production assets. These asse…

jimonegbr 11 Sep 2018

Horse Hill Tankers And sneaky RNS at close of day re extension.

GRAMPSAV 11 Sep 2018

Horse Hill Tankers Today’s Twitter feed showing video of Tankers leaving Horse Hill today 11th Sept. Posted by the fool on the hill. Looks like the Kimmeridge is living up to its Gatwick Gusher reputation.

Average_Dave 10 Sep 2018

RNS 10.09.18 - Portland extended well test ("EWT") successfully completed, Kimmeridge EWT to commence A positive step. The key takeaways for me are: The Company’s economic modelling indicates that HH-1 Portland is robustly commercial at even the lowest observed sustainable daily rate of 140 bopd and at oil prices below $60 per barrel. This is only the first well and given the acreage there are likely to me multiple drilling opportunities. Once commercial, the revenue from the oil sales will be used to fund further drilling and hopefully reduce the possibility of dilution. Looking forward to the Xodus connected oil volume analysis. A_D

Average_Dave 04 Aug 2018

RNS 03.08.018 - Portland high-rate flow test successfully complete Have a listen to this old news clip from around 18th July 2018. Commerciality - Each individual layer (Portland, KL3 or KL4) could be commercial at 50-60bopd (costs at $20 USD). However, for some reason (I’m guessing here - legal e.g. production licence? operational? or perhaps just a business decision to wait until all results are in to get a complete view and then hit the market for more cash for more wells, it would also be easier to put pressure on the gov’t to speed up approvals with better results) they have delayed the Commerciality declaration.

mwjones3333 03 Aug 2018

RNS 03.08.018 - Portland high-rate flow test successfully complete The solo RNS says there is still about 4 months till the EWT program is completed and we know for sure if its commercial or not , that feels like ages i was hoping i’d find out some time in September.

Average_Dave 03 Aug 2018

RNS 03.08.018 - Portland high-rate flow test successfully complete Portland high-rate flow test successfully completed Horse Hill-1 (“HH-1”) Portland and Kimmeridge oil discovery, Weald Basin, UK Highlights: · Portland short-term high rate tests achieve stable implied equivalent daily pumped rates of 401 and 414 barrels of oil per day (“bopd”) of dry 36 API oil over two periods of 6 and 2 hours, respectively. Maximum instantaneous half-hourly pumped rates of 441 and 470 bopd. · The maximum rate recorded was limited by the rod pump’s maximum rate capacity of approximately 470 bopd. Higher capacity rod pump sourced and mobilised for use at HH-1. · Metered daily oil rates and recovered Portland volumes to date exceed 2016 test values. · Associated solution gas rates of around 41,000 cu ft per day. · Forward extended well test (“EWT”) programme includes flow optimisation necessary to determine the maximum sustainable long-term flow rate and a lengthy stabilised flow period to test if the well accesses a commercially viable oil volume. · The primary EWT objective, to establish the commerciality of the Kimmeridge Limestone 3 & 4 oil pools, will follow directly after the completion of the Portland test sequence. UK Oil & Gas PLC (London AIM: UKOG) announces that Horse Hill Developments Ltd, the operator of the HH-1 Kimmeridge and Portland oil discovery, located in licence PEDL137, in which UKOG holds a 32.435% beneficial interest, has informed the Company that the planned high rate Portland test sequence, designed to assess the reservoir’s maximum short-term flow capacity, has been successfully completed. Stable implied daily pumped rates of 401 and 414 bopd of dry 36 API oil were recorded over two periods of 6 and 2 hours, respectively, with associated maximum half hourly pumped rates of 441 and 470 bopd. Metered solution gas rates of around 41,000 cu ft per day were recorded through the test separator over the two maximum rate periods. As maximum initial rates were restricted by the pump’s capacity of around 470 bopd, a larger capacity pump has been sourced and has been mobilised to site for possible use during the remainder of the Portland test sequence. To date, the recorded implied daily oil rates and overall produced Portland oil volumes exceed those reported from the initial short-term test programme of March 2016. The Portland oil exported from HH-1 to date is of Brent Crude quality and exceeds minimum refinery specifications, containing only around 0.2% water content. It should be noted that the above high rate results are not the long-term sustainable flow rates that will be utilised to assess the Portland’s commercial viability as part of the next test phase. Forward EWT Plans Following a planned further short restricted flow period and pressure build up test, flow will be further optimised to determine the well’s sustainable long-term production rate and to test whether the well can recover a commercially viable volume of oil. The primary EWT objective of testing the two underlying Kimmeridge Limestone 3 & 4 oil pools, which in 2016 flowed 40 API crude naturally to surface at an aggregate implied stable dry oil rate of 1,365 bopd, will commence directly after completion of the Portland test. Stephen Sanderson, UKOG’s Chief Executive, commented: "HH-1 continues to deliver positive results that exceed the 2016 Portland test outcomes. The excellent short-term high rate test results, combined with pressure build up data, provide further confidence that the next phases of the Portland test can deliver both an optimal sustainable long-term flow rate and deliver the primary objective of confirming the Portland’s commercial viability. Whilst the potential future near-term cash flow from the Portland is very important to UKOG, we should not lose sight of the significance of the potential prize that lies in the underlying primary Kimmeridge objective, the long-term testing of which will follow directly after the Portland programme. Following our readmission to AIM as an operating company, a major corporate milestone, we are also delighted that Allen Howard has been appointed as non-executive chairman and Nicholas Mardon Taylor has joined the board as a non-executive director. Nicholas’ depth and breadth of financial experience in both oil and gas and other sectors will be a highly valuable addition to the Company."

Average_Dave 02 Aug 2018

Twitter Noise Lots of noise on twitter . [link] Some are estimating 5 strokes a minute on the pump; per wikipedia an oil pump can lift 5-40 litres per stroke. Is there any point in completing the calculation? Additionally, some are hoping for an RNS soon. I too wish there was a positive one, but the EWT is expected to take 30-40 days and given that the last RNS was mid July this means we could see something before the end of Aug. Albeit, there are multiple tests as part of the EWT so maybe we could see some results earlier. "Forward EWT Plans The well will now be shut in for a planned 24-hour pressure build-up test. Operations will then include further flow parameter optimisation, followed by the first of three planned flow sequences designed to assess whether the Portland oil pool contains a commercially viable volume of oil. The first test sequence will likely include an optimised maximum rate test, prior to choking back the well to provide the steady state flow conditions necessary to determine the Portland oil pool’s connected oil volume. Note that in order to collect the required data during these steady state flow periods, rates will likely be below any future optimised production rates."

Average_Dave 20 Jul 2018

Use of Moving Averages Hi, Anyone here uses WMA / Charting. I have only just started paying attention to this again recently. I see for UKOG at the end of June, the 20 day WMA just crossed the 50 day WMA in an upward direction. Then it crossed the 200 day WMA earlier this week. Is this correct? Thanks A_D

Average_Dave 18 Jul 2018

Rns 18.07.2018 A welcome announcement. Very transparent RNS; uses words like “implied” and gives time the tests were run; also provided next steps, . Seems like SS learned his lesson. Let’s hope it only gets better. A_D