UK Oil & Gas Investments Live Discussion

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FOTH1 26 Feb 2020

Those fed up with trolls on lse should post here. Spread the word. FOTH.

FOTH1 26 Feb 2020


FOTH1 26 Feb 2020

Wayer fix in motion. Lets see the bopd when done.

Average_Dave 29 Jan 2020

First Buy What do you expect? SS has a tendency to over-promise and under-deliver. Combine that with the tough UK Regulatory environment including Local Council shenanigans and for some reason lack of available rigs and necessary equipment plus the protests; it’s no wonder there are negative views on this share. I’m holding at an average of around 3p. May pick up some more if it falls further. Only the CPR will tell how much oil is there. Purely speculative for me. To be fair SS had said some time ago the testing to support the CPR would be the priority. It’s a waiting game now. A_D

Ripley94 29 Jan 2020

First Buy SHARE PROPHETS… XXXX THEY HAVE NEVER BEEN FANS. … UK Oil & Gas – 3 billion reasons to SELL BY PETER BRAILEY Today UK Oil and Gas (UKOG) updated the market on its prodigious ability to issue shares. After adding almost 1.5 billion over the last year, it now wants authorisation for 3 billion more. If only it could produce increasing levels of oil with a similar consistency, I perhaps would see the investment case more positively.

Average_Dave 04 Dec 2019

Oil tanks on site Maybe I’m being greedy, but if there was little oil, why are there more storage tanks on site? The fool on the hill (Adrianwfire) #UKOG UFO reported at hh PIC by JR. Is it fjones from lse landing? [link] 3:53 AM - 4 Dec 2019 A_D

Shotry 06 Feb 2019

AIM Market rigged? Very interesting, thanks for posting.

BarmyOwl 06 Feb 2019

AIM Market rigged? Interesting

Average_Dave 23 Jan 2019

RNS 23.01.19 - 2019-2020 Strategy and Drilling Plans UK Oil & Gas PLC (London AIM: UKOG), the largest onshore licence acreage holder in Weald Basin, is pleased to announce that, following the successful production testing and declaration of Portland commercial viability at its Horse Hill oil field (in which the Company holds a 46.735% interest), the Company has now completed a strategic review of its asset portfolio and finalised forward plans to drill up to nine production, appraisal and exploration wells during 2019 and 2020. The plan’s initial focus is to move Horse Hill’s ongoing test-based oil production into permanent production by the end of 2019 via two new horizontal production wells. As previously reported, the Portland production target of 720-1,080 barrels of oil per day (“bopd”) from the first horizontal well, which has been externally verified as a realistic and viable expectation by Xodus Group Ltd (“Xodus”), is designed to position Horse Hill as the Weald Basin’s leading oil producing companies. Subsequent horizontal wells in 2020 are designed to boost gross production to over 2,000 bopd, potentially placing UKOG within the top three oil producing companies in the UK onshore sector. Next year, the plan aims to convert around 15.6 million barrels (“mmbbl”) of the Company’s net discovered conventional recoverable resources (or “Contingent Resources”) into Reserves. Consequently, the programme includes the drilling and long term testing of an appraisal well in the PEDL331 Arreton oil discovery (UKOG 95% interest), where the majority of the company’s currently assessed Contingent Resources lie, together with appraisals in the PEDL234 Godley Bridge gas discovery and Broadford Bridge oil discovery (UKOG 100%). Further Portland and Kimmeridge exploration wells at PEDL331 Arreton South and at a third site in PEDL234 are also planned later in 2020. A Gantt chart summarising the programme is available on UKOG’s website Further details are summarised below. PEDL137 Horse Hill Oil Field (UKOG 46.735%) · The Company’s primary 2019 operational goal will be to deliver continuous oil production from Horse Hill via continued extended well testing (“EWT”) of Horse Hill-1 (“HH-1”) and by the drilling and production testing of two horizontal wells, HH-1z and HH-2, both planned to start in spring 2019. Planning consent and environmental permits are in place and UKOG is fully funded for both wells. · The first new horizontal well, HH-2, will target the Portland oil field, while the second, HH-1z, a horizontal sidetrack of HH-1, will target the combined 358 ft thick Kimmeridge Limestone 3 (“KL3”) and KL4 oil pool, currently on sustained test production from the HH-1 wellbore. · Utilising the reported flow rates from the current HH-1 vertical wellbore’s EWT campaign, both HH-1z and HH-2 each have targets of initial sustained daily horizontal well rates of 720-1,080 bopd. These targets are deemed by the Company’s 3rd party reserve auditor and principal reservoir engineering advisor, Xodus, to be viable and realistic, conforming with the established petroleum engineering benchmark that an optimally placed horizontal well within a reservoir with reasonable vertical permeability can be expected to deliver 2 to 3 times the flow rate of a vertical wellbore from the same reservoir. · Further horizontal production wells and a water reinjection well are planned to be drilled in early 2020 following the grant of regulatory approvals for permanent oil production, applications for which have been submitted. Permits to cover 20 years of production are expected to be in place by autumn 2019. Isle of Wight PEDL331 Arreton Main Oil Discovery and Arreton South Exploration (UKOG 95%) · During winter 2019/20, the Company also aims to convert 14.9 mmbbl of its net unrisked Contingent Resources into Proven and Probable Reserves via the drilling and long term testing of an Arreton-3 (“A-3”) appraisal well within the Arreton Main oil discovery. · As reported in the Company’s July 2018 AIM re-admission document (available on the Company’s website), the Arreton oil discovery, a geological analogue of the Company’s Horse Hill Portland oil field (UKOG net 46.735%), contains three stacked Jurassic oil pools with an aggregate gross P50 oil in place (“OIP”) of 127 mmbbl, over four times larger than the 30 mmbbl P50 OIP of the Horse Hill Portland oil field. · An application to drill, core and test an A-3 pilot hole and horizontal wellbore is planned to be submitted to the Isle of Wight Council in the first quarter of 2019. Shortly afterwards, the Company also intends to submit a further planning application to drill, core and test the geological look-alike Arreton South prospect with operations planned to follow after A-3 testing. · As per UKOG’s 2018 AIM re-admission document, the Arreton South prospect contains a gross Portland P50 OIP of 55 mmbbl, almost twice the Horse Hill Portland field’s P50 OIP. The Directors believe that further significant OIP potential, as per Arreton Main, lies within the underlying Jurassic Inferior Oolite reservoir. PEDL234 Godley Bridge and Broadford Bridge Appraisal and Exploration (UKOG 100%) · The Company intends to submit a planning application to Surrey County Council by spring 2019, to drill, core and test the Godley Bridge Portland gas discovery and the underlying Kimmeridge. The planned deviated well is located in the centre of the significant 50 km² Portland gas accumulation, which UKOG calculates to contain a gross P50 gas in place (“GIP”) of 56 billion cubic ft, of which around half lies within PEDL234. UKOG estimates that expected gas recoveries fall in the range of 50-80% of GIP. · The Kimmeridge objectives underlying the Portland gas discovery fall within the largest untested Kimmeridge geological structure in the Weald Basin, being approximately twice the size of the Horse Hill structure containing the productive HH-1 Kimmeridge oil field. · Following completion of the Godley Bridge appraisal well, the Company plans to return to its Broadford Bridge Kimmeridge oil discovery to drill and test a BB-1y Kimmeridge sidetrack. · A further Kimmeridge exploration well, situated in a third site between Godley Bridge and Broadford Bridge, is also planned in late 2020. As a result of the strategic review, the Company has also decided that no further investment will be made at its wholly owned PEDL126 Markwells Wood asset. The project’s technical and regulatory risks are considered to far outweigh the modest success case potential, particularly when compared with the robust metrics of UKOG’s other Kimmeridge and Portland projects. Consequently, the Markwells Wood-1 well has been plugged and abandoned. Stephen Sanderson, UKOG’s Chief Executive, commented: "If successful, this comprehensive plan aims to add significant value to the Company and shareholders via transforming UKOG from an exploration and appraisal company into a fully-fledged producing oil company by the end of 2019. By attaining the stated production targets, which have been independently verified as viable and realistic by Xodus, the resultant success case daily 2019 production could establish Horse Hill as the largest single oil producing field in the Weald Basin. In addition, during 2020, two potentially high-impact appraisal wells and production tests at Arreton in the Isle of Wight, Godley Bridge in PEDL234 and the Arreton South exploration well, are planned to test the largest identified undeveloped oil and gas assets in the UK onshore. each contain 3rd party calculated hydrocarbon in place volumes that are significantly larger than the Horse Hill Portland field’s 30 mmbbl, a very significant prize and potential step-change growth opportunity for UKOG. The Directors believe that the Arreton appraisal well alone has a realistic expectation of creating significant value via the addition of around 15 million barrels of Reserves. The Company’s key overall ambitions remain unaltered: to support the drive for increased UK energy security and to create value for shareholders whilst ensuring our operations preserve the natural beauty of the Weald. We aim to continue to be approachable, understanding and cooperative neighbours. Our plans for the next few years will continue to adhere to these solid principles." END - - - A_D

Average_Dave 22 Jan 2019

RNS 22.01.19 - Completion of PEDL331 Arreton Oil Discovery Acquisition UK Oil & Gas PLC (“UKOG” or the “Company”) Completion of PEDL331 Arreton Oil Discovery Acquisition UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that the previously disclosed (12 December 2018) transaction with Solo Oil Plc (“Solo”) to acquire their 30% interest in the PEDL331 onshore Isle of Wight licence (“the Licence”) has been completed following approval from the Oil and Gas Authority. UKOG now holds an operated 95% direct interest in the Licence which contains the Arreton oil discovery and the Arreton South exploration prospect, both of which are planned to be drilled and long term tested next year. Transaction Summary UKOG has acquired Solo’s 30% interest in the Licence for a total consideration of £350,000. The total consideration has been satisfied through the issuance of 17,989,326 new ordinary shares in UKOG (“Consideration Shares”) and £90,450 in cash. The Consideration Shares were calculated based on the 5-day volume weighted average price to 10 December 2018 of 1.4428 pence. As such an application has been made for 17,989,326 new ordinary shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on or around 28 January 2019. Following Admission, the Company’s enlarged issued share capital will comprise 5,584,643,556 ordinary shares. The Company does not hold any shares in treasury. This figure of 5,584,643,556 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules. END - - - A_D

Average_Dave 16 Jan 2019

Rns 16.01.19 Kimmeridge Oil Production Continues at Horse Hill-1 (“HH-1”) UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that Horse Hill Developments Ltd (“HHDL”), a UKOG subsidiary company and the operator of the Horse Hill oil field, has informed the Company that sustained production continues to be maintained from the HH-1 extended well test (“EWT”) programme, achieving a gross aggregate total of over 25,000 barrels (“bbl”) to date, a significant production milestone. Of the aggregate total, over 21,000 bbl has been produced to date from the Kimmeridge Limestone (“KL”) oil pool, more than doubling November’s reported Kimmeridge production total. No formation water has been returned to surface during the entire EWT. Dry oil and solution gas production continues from HH-1. Based on the continued Kimmeridge EWT success and October’s announcement of Portland commercial viability, HHDL plans to continue HH-1 EWT production until the expiry of current permits in spring 2019 and then to move directly into the drilling and long term testing of two new horizontal wells, HH-2 and HH-1z, for which UKOG’s internal funding, planning consent and environmental permits are in place. HH-1 is located in licence PEDL137 in which UKOG holds a 46.735% beneficial interest. Key EWT results to date are summarised below: Horse Hill 2018-19 EWT Oil Production Milestones: · Over 25,000 bbl total aggregate Kimmeridge and Portland oil production since early July. · Over 21,000 bbl total Kimmeridge oil production since mid-October. · 114 tankers of crude successfully exported to Perenco’s Hamble oil terminal. The KL’s 40° API Brent quality crude continues to be sold at prevailing Brent crude oil prices, less a small deduction for handling and marketing. KL EWT Update: · KL4 production from a 103 ft perforated interval commenced during late November, yielding 2,192 bbl at a maximum half-hourly metered rate of 584 barrels of oil per day (“bopd”) and at an average sustained daily continuous rate of 300 bopd over the subsequent week. · Fluid and pressure build up data gathered from the KL4 test demonstrate that the KL3 and KL4 are one single oil pool of 358 ft vertical extent. As a result, and as previously indicated, a decision was made to commingle both KL3 and KL4 production (i.e. produce from both sets of perforations at the same time). · Commingled KL3 and KL4 production from an aggregate 187 ft perforated interval commenced on 4th December at a maximum half-hourly rate of 426 bopd and continued throughout the Christmas and New Year period, producing 8,829 bbl of 40° API crude. The programme included several pressure build-up tests and testing of different pump configurations, settings and equipment. · Following the installation of a new downhole pump and an optimised surface hydraulic pump unit, stable commingled production resumed on 7th January at an increased initial rate of 525 bopd. The sustained daily rate over the subsequent week averaged 303 bopd. A de-waxing treatment applied on 14th January led to an increase in hourly rate to 351 bopd. Commingled production continues. · To date, the absence of produced formation water adds continuing support to the Company’s geological concept that KL oil lies within a significant continuous oil deposit. · Planning and environmental permit applications for permanent oil production via a 7-well development were submitted to Surrey County Council and the Environment Agency on 7th December and 10th January, respectively. It is anticipated that all necessary permits should be in place by Autumn 2019, enabling a transition from EWT production into permanent production during winter 2019. Stephen Sanderson, UKOG’s Chief Executive, commented: “The continued EWT success supports the Company’s plans to establish permanent production at Horse Hill in 2019. UKOG aims to deliver near-continuous oil production throughout 2019 via a combination of long term testing of HH-1 and two new wells, followed by a smooth transition into permanent production in the winter. The potentially transformative effect of a successful programme is an exciting prospect for 2019.” END - - - A_D

Average_Dave 10 Jan 2019

SS on Youtube 10.01.19 END - - - A_D

jimonegbr 14 Nov 2018

The last post i can see on here was 20d ago. Is it just me? Nope more info on twitter than here, nobody likes this system.

woolface1 14 Nov 2018

The last post i can see on here was 20d ago. Is it just me? See above

GRAMPSAV 25 Oct 2018

Oil Tankers on the move Horse Hill looking a good prospect, Oil Tankers filmed by ‘fool on the hill’ taking oil to the BP oil terminal at Hamble now approaching 50 loads. See ‘foth’ Twitter feed.