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London South East Natural Resources Briefing webcast: #Emmerson #Alba #Condor Gold #Gold analysis
Angus Energy in talks to buy 'transformational' gas asset in North England


Member Info for CaptainStanley


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Member Since: Sun, 3rd May 2015

Number of Share Chat Posts (all time): 1,544
Number of Share Chat Posts (last 30 days): 163

Last Posted: Tue 08:01


Post Distribution over the last 30 days




Tue 08:01

As you say given the correct rig and organisation there's a very high chance of success.
It's worrying though that the weak link in the process is Petro Matad's ability to obtain a working certified rig with correctly permited staff. They've had since last November to get this sorted........ Come on Petro Matad pull your finger out.
Sat 09:05

Many thanks for that reply Penguins. A discussion on a discussion board who'd have thought it possible?
Lots of figures and didn't the quote go something like 'Lies, damn lies and statistics'.
I think the truth is probably somewhere in the middle and may well not be a bad as I've suggested or implied but It is the case that they've always avoided giving the definative steady state flow rate at the end of any testing period and that niggles and concerns me. Even more modest sustained flows would be fine with multiple wells per pad. Not long to find out I guess?
I wish UKOG and Angus well as I can see nothing but good that they could bring to the UK in terms or income, balance of payments and energy independence at a particularly tricky time. I look forward to being part of that too should it look like it's going to happen.
Fri 16:10

After placings the share price often gets down to the issue price. Not always though so I bought back in yesterday. Slightly annoying but not as annoying as it would have been having to buy back in at a higher price so I'll take it. This is the floor though so from here there's only one way to go?
Fri 14:43

But that's it Ohmetoe isn't it. A genuine investor would want to know the sustained Kimmeridge flow rates wouldn't they? Don't you?
Fri 14:37

leewayne I've heard Alan's views on this. Is it written down in any of the RNSs in black and white explaining exactly what went wrong? I realise that they might think that they know what went wrong but you can only know you're right for sure by drilling another side track and doing it a different way. The Brockham well should help to clarify matters very soon. Balcombe flowed like the Nile, but only for a one week test. That's my nagging doubt. Flows need to be sustained somewhere in the Weald from the Kimmeridge for this to be what everyone is hoping for. Soon find out I guess?
Fri 13:46

Provide an answer and I might stop?
Can you?
Fri 13:40

Very true xxdodgerxx and if the Bond's aren't taken up you might still loose the lot. Risk/reward and all that.
Fri 13:36

It's not a de-ramp bazy it's a concern that I have. Can you tell me why then didn't quote the final stabilised flow rate of the co-mingled KL3/KL4 flows. Because they know them. They've just chosen not to list them with all those other big numbers.
Point out where I've gone wrong and that'll make my post a deramp but if you can't it's a valid point that's up for discussion.
Perhaps the most valid point?
And yet no one's talking about it.
If you want me I'll be over in the corner, I'm the one with the eye patch and the parrott sitting next to that elephant.
Fri 12:31

I was but not any more. The figures SS gave were good but I notice you don't comment on the figures SS chose not to give which is always likely to tell you more as it was an act of active omission. You can bet that had they been good they'd have been shouted from the roof tops like all the other big numbers.
The current choked back flow is from the Portland and is a localised field. The point about the Kimmeridge is that it underlies the whole Weals and might contain oil throughout. This is what's underpinning UKOGs still not insubstantial share price. But it can only do that longer term if the oil flows and keeps flowing over weeks, months and years. If it tails off like a mid-west facking field then UKOG is just another small scale local oil producer looking to invest in assests outside of the Weald. Just like Angus are planning.
Is there a pattern there?
Fri 11:51

I know the Kimmeridge has flowed 25,000 barrels of oil. It's in the RNS.
What I wanted to know specifically was the stable flow rate at the end of the well test. Which wasn't given and I don't know why. Wasn't it very good? I've copied the RNS below and the numbers are big but the flows start with very big numbers and then they quote big average numbers so I guess the end numbers must be considerably smaller to make the average what it is? I don't know however but the real point is that neither do you but you're just choosing to ignore that which is fine it's your money.
Here's the RNS.

From the company RNS we have:
'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.'

So all well and good and over 25,000 barrels as has been pointed out.
KL4 started with a peak flow of nearly 600 barrels/day
It then settled over a week to 300 barrels/day.
They then co-mingled KL3 and 4 and got a daily rate of 426 barrels/day. It then produced 8800 barrels 'over the Christmas and New Year period'. Odd that isn't it. Rather vague perhaps? If they'd just said how many days that was we'd be able to approximate a daily flow rate wouldn't we? I wonder why they didn't do that? Why not state the stable daily rate that it settled down at?

Like I said earlier can anyone tell me the maximum daily sustained Kimmeridge flow rate obtained by any of the Weald Oilers?
It's a basic fact that would help to prove up the Kimmeridge's potential. And yet it's lacking and the share price is at an all time low.
Connected?
Fri 11:24

leewayne thanks for the namecheck.
My question though RE the Kimmeridge flows hasn't been answered yet. Perhaps you'd like to answer leewayne rather than just bandy around insults.

From the company RNS we have:
'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.'

So all well and good and over 25,000 barrels as has been pointed out.
KL4 started with a peak flow of nearly 600 barrels/day
It then settled over a week to 300 barrels/day.
They then co-mingled KL3 and 4 and got a daily rate of 426 barrels/day. It then produced 8800 barrels 'over the Christmas and New Year period'. Odd that isn't it. Rather vague perhaps? If they'd just said how many days that was we'd be able to approximate a daily flow rate wouldn't we? I wonder why they didn't do that? Why not state the stable daily rate that it settled down at?

Like I said earlier can anyone tell me the maximum daily sustained Kimmeridge flow rate obtained by any of the Weald Oilers?
It's a basic fact that would help to prove up the Kimmeridge's potential. And yet it's lacking and the share price is at an all time low.
Connected?
Fri 09:14

Was it a real story or make believe though? That's a better question I think?
Fri 08:23

Sorry but it's a discussion board. And here's the topic...

Horse Hill was first drilled in 2014? 5 years later, several drills and millions of pounds by Angus and UKOG can someone tell me what is the longes sustained oil flow from a Kimmeridge flow test, how much but more importantly for how long?

Isn't that still the Elephant in the room? I hope UKOG proves the Horse Hill Kimmeridge can flow for years at good rates but it hasn't yet and after the relatively short flows at Horse Hill it opted to do the extended flow test on the Portland and not the Kimmeridge. Oh.... and to raise funds for 'other oppourtunities' outside the Weald. Why?
I might be wrong but I'm not sure anyone can objectively prove that at I am and until such time as someone can they're just guessing and hoping and the longer that this goes on and the longer the share price remains at 1p the more I doubt the whole Weald project.
Still after the Portland Horizontal we'll get the Horse Hill Horizontal. Broadford Bridge of Company making gusher?
Fri 08:10

Matteth14. I did read the RNS. It says...

'the current plan envisages that once HH-1 Portland test production exceeds 25,000 bbl, production will be switched back to the Kimmeridge oil pool. '

So they are switching back to the Kimmeridge then?
Fri 07:09

But they're now switching back to the Kimmeridge pool so tanker watchers ready please.
Perhaps the darkest hour is just before dawn?
Fri 07:07

I just posted this on Angus before I saw the UKOG RNS but I'll post it anyway because it does all appear to be about the Portland doesn't it?

Surely not I thought dozing lightly in bed ruminating about my future wealth and plans. The vast riches of the Weald all being funnelled into my ISA year after year. Angus or UKOG or both?
But somethings been quietly niggling me recently and then, all at once, I thought of the following:

UKOG:
Prolonged flow test at Horse Hill. Great! But they're flowing the Portland and not the Kimmeridge. Why?
They're about to drill Horizontals. Great! But why start with the Portland?
Broadford Bridge (Kimmeridge). We think we know why it didn't flow don't we? But have we been told? By the company? Why not? Are we just guessing? Yes! Perhaps the Kimmeridge just doesn't sutain oil production? No! Surely not. UKOG are increasing their exposure aren't they. Hmmm. I don't know but might that be to access conventional plays as much as the Kimmeridge? (I don't know).
And in their last RNS/fund raise the rather disturbing phrase about using the money to pursue 'other opportunities'. Hmm.

Then Angus at Brockham. Isolate the water and then...... go off to discuss 'the plan' with their partners. A little worrying? And again a fund raise looking to do things not in the Weald which according to the interview (that I've not heard) suggests may add more value than current operations?

You heard it here first. I'm calling the Weald Kimmeridge a busted flush. Years in and the share prices at all time lows. Obvious really when you see it..... isn't it?
Fri 07:05

Surely not I thought dozing lightly in bed ruminating about my future wealth and plans. The vast riches of the Weald all being funnelled into my ISA year after year. Angus or UKOG or both?
But somethings been quietly niggling me recently and then, all at once, I thought of the following:

UKOG:
Prolonged flow test at Horse Hill. Great! But they're flowing the Portland and not the Kimmeridge. Why?
They're about to drill Horizontals. Great! But why start with the Portland?
Broadford Bridge (Kimmeridge). We think we know why it didn't flow don't we? But have we been told? By the company? Why not? Are we just guessing? Yes! Perhaps the Kimmeridge just doesn't sutain oil production? No! Surely not. UKOG are increasing their exposure aren't they. Hmmm. I don't know but might that be to access conventional plays as much as the Kimmeridge? (I don't know).
And in their last RNS/fund raise the rather disturbing phrase about using the money to pursue 'other opportunities'. Hmm.

Then Angus at Brockham. Isolate the water and then...... go off to discuss 'the plan' with their partners. A little worrying? And again a fund raise looking to do things not in the Weald which according to the interview (that I've not heard) suggests may add more value than current operations?

You heard it here first. I'm calling the Weald Kimmeridge a busted flush. Years in and the share prices at all time lows. Obvious really when you see it..... isn't it?
Thu 20:09

'as PH will be keen to show are new best friends Amati he takes shareholder value seriously'
Slightly ironic Bigbench on the day he diluted shareholders with a fund-raise?
Still I think it's reset the baseline from which things can move forward on a more stable footing.
Onwards and upwards?
Thu 16:53

There's going to be less adrenaline available on this stock from here on in I think. A gradual re-rate with spurts around positive updates and RNSs. Boring but profitable hopefully.
Thu 14:57

It also comes with a more realistic share price it seams?


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