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TSX Lithium explorer International Lithium Corp prepares to drill at Raleigh Lake
Exclusive: Hardman & Co Investor Forum - Severn Trent, Calculus Capital, Volta Finance, Residential


Uk Oil & Gas Share Chat (UKOG)



Share Price: 1.00Bid: 0.95Ask: 1.05Change: 0.00 (0.00%)No Movement on Uk Oil & Gas
Spread: 0.10Spread as %: 10.53%Open: 1.00High: 1.025Low: 0.975Yesterday’s Close: 1.00


Share Discussion for Uk Oil & Gas




View all UKOG Messages

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warik
Posts: 564
Opinion:No Opinion
Price:1.025
RE: RNS
20 May '19
Its 110 days allocated by the SCC for both stage 2 and 3 each.

I dont know much about how deep the vertical or horizontal but let's see what happens.
 
wizard125
Posts: 1,707
Opinion:No Opinion
Price:1.025
RE: RNS
19 May '19
Warik

With HH 2 perforated section being 750 m or 2250 ft instead of the current 38 m or 114 ft which is over 6 1\2 times the amount of perforations in the current Portland pay zone it is highly likely that this target could be exceeded.

It is my understanding that again these are not SS figures but a independently worked figure presumably by Xodus.

Does anyone have any idea of how long it is likely to take to drill each well, HH-2 & HH-1y, once the rig is onsite & set up?
warik
Posts: 564
Opinion:No Opinion
Price:1.025
RE: RNS
19 May '19
WIZ

Just when last summer the news of EWT eminent the SP blew to close to 3p without knowing whether the oil will flow or not having said that its 45500 now in just under a year which in grand scheme of things is nothing or compare to the fairy tale of billions of barrels its disappointing but it's better than failure of BB.

I think some of the purchase were unnecessary they should have diluted more at 2p or 2.5p last summer to 20m rather than 12m would have been better less shares would have issued. Same mistake Angus made when 14p should have gone to the market 15m rather than 2m.

Fundamentals can only be stronger if they are able to flow more than 780B a day which I doubt would max do 700 if we are lucky.

Vertical lowest is 140 then 190/191 but somehow flows 208 to 218/220 even though they could flow 362 which I think is bullocks as I think SS fear it's not gonna flow or run out so he does not want to take a chance which is fair enough.

If this does not flow to the levels this will get crushed.
wizard125
Posts: 1,707
Opinion:No Opinion
Price:1.025
RE: RNS
19 May '19
Warik

I have to agree about the delays with the rig, planning & the drilling & am a little disappointed.

But for me the rig is coming & planning is still ongoing & the fundamentals are getting stronger for me.

BB was not good but HH is flowing now almost 50,000 barrels this did not happen at BB & the UKOG other interests have stopped this happening as the have developed HH & have no debt to repay.

The acquisitions have all been larger %of the pie & give UKOG the controlling interest in the licence with over 50%.
warik
Posts: 564
Opinion:No Opinion
Price:1.025
RE: RNS
19 May '19
Wizard

I have no clue and I would not give my opinion as I dont know what I'm talking about.

TBH
I didnt not even read any RNS properly until last night trying to understand why the flow rates were high in Sept with 2.5p and why low now.

I invested on hype and past SP thinking it's cheap. If I had to redo this would only buy 500k shares as this could bust in terms of what happened at BB.
wizard125
Posts: 1,707
Opinion:No Opinion
Price:1.025
RE: RNS
19 May '19
Warik

Read my post from last night about the perforations at HH for the Portland & the Kimmeridge & tell me that you do not think the perforated zone length of the sidetrack will make a difference.
warik
Posts: 564
Opinion:No Opinion
Price:1.025
RE: RNS
19 May '19
IMO I dont think HH 2 Portland will not flow more than 700 as the best its done is 220 and minimum is 140 and a higher choke 191. This was also confirmed by Barney Gray independent gas analyst on proactive investors and it's on the RNS.

352 bopd on small durations maybe on a hour or 2 hours but then extrapolated to a day figure of 352.

362 is again extrapolated figure not a real flow rage.

For Kim
the max real figure is 303 and 300 check all the RNSs I did it last night and most high numbers are based on 4/2/6 hourly rather than whole day.

I'm a holder 4.98m if it dips to 0.95 which is a real possibility I will buy more to get to 6m I hope not but I can bet my house for ukog price to fall than to rise.

Getting this to 3p IMHO is like winning a euro million but I hope too that's why invested but we closer to 2p than 3p but you never know.

I'm sure there are loads suffering who bought at 8p 10p if God is looking from wherever please take it back there so people could get their money back.
wiltshireman
Posts: 3,372
Opinion:No Opinion
Price:1.025
RNS
19 May '19
For prudent Portland reservoir management purposes and to ensure there is no detriment to the expected high performance of the HH-2 Portland horizontal well, the average pumped rate from HH-1 continues to be maintained below the previously reported 362 bopd calculated sustainable rate. As previously stated, based upon well-established reservoir engineering metrics, it is expected that HH-2 has the potential to achieve a rate of 2-3 or more times the HH-1's vertical rate of 362 bopd.

That's correct 2-3 or more times HH-1 - its' all come good as predicted so far so chances are the predictions are good or even conservative. Thats real cashlow so lets not lose sight of the reality of HH-1




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