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Tech company Mporium delivers an outstanding set of Q1 results says CEO De Groot
IronRidge Resources CEO hails spectacular lithium project and money making potential for gold


Member Info for Pboo


Send a private message to Pboo

Member Since: Fri, 18th Oct 2013

Number of Share Chat Posts (all time): 1,399
Number of Share Chat Posts (last 30 days): 47

Last Posted: Wed 07:04


Post Distribution over the last 30 days




Wed 07:04

Sageman in my opinion is just a deramping moaner, Steve Sanderson has a good team that he leads and one of them is the Finance Director. UKOG web site says.

The Finance Director works alongside the CEO and has overall control and responsibility for all financial aspects of company strategy. The Finance Director takes overall responsibility of the Company’s accounting function and ensures that Company’s financial systems are robust, compliant and support current activities and future growth. The Finance Director will coordinate corporate finance and manage company policies regarding capital requirements, debt, taxation, equity and acquisitions as appropriate.

In the past 12 months UKOG have gone from a being a development company with no income to a production company that has exported nearly 3 million dollars worth of oil from Horse Hill and proven there is substancial oil in the Kimmeridge and the Portland.

We have full planning and OGA permission to drill two new Horizontal wells and drilling should start within the next few weeks. Potential just from these 2 wells is approx 40 million dollars worth of oil per year. We then have a planning application in for 4 further wells at Horse Hill. These 6 wells could easily produce 120 to 150 million dollars of oil per year and that is just Horse Hill.

We are buying up our partners share of assets in the Weald on the cheap, once the CPR is released those assets are going to increase in value substantially and will have been dilution well spent.
12 Apr '19

Bag_of_sand
You say Portland is only a puddle.
It is a well tested puddle and the horizontal HH2 should easily produce 4 to 5 tankers per day. That is approx 50,000 pounds per day or 250,000 pounds per week, 13 million pounds per year. All from what you call a small puddle.
11 Apr '19

I see all the posts saying that document has been doctored have been taken down by Admin.
No smoke without fire.
11 Apr '19

If it was fake news then you would of thought Ascent would of issued a statement by now saying it was false.
11 Apr '19

Could see a tanker today, storage on site is approx 8 tankers and I doubt they are empty.
7 Apr '19

Dorkingman
Well, I for one will not be there.
6 Apr '19

As you are well aware the Eyes missed nothing and reported on lots of equipment both coming and going.
The arrival of the perfgun, nitrogen lorries, oil / waste tankers, Christmas tree on the well et etc
The eyes will continue to report on Brockham both good and bad.

https://twitter.com/WealdOilers/status/1074355086304800769?s=19

https://twitter.com/WealdOilers/status/1076016985727750144?s=19

https://twitter.com/WealdOilers/status/1080486755650977794?s=19

https://twitter.com/WealdOilers/status/1082994303692165120?s=19
6 Apr '19

Kensington
Was nothing to catch out, rig has arrived and according to Angus is going to be parked up and is doing nothing until Friday 12th April.
It is then going to try and fix a water problem, it will be Early June before we see oil, that's if they can fix the problem
5 Apr '19

DoneK
Did we?? Or did we top up this morning????
5 Apr '19

I did not say acid is positive, a question was asked if Angus had used acid and I replied that they had used "Standard stimulation"
5 Apr '19

Angus refered to Standard stimulation in a RNS and Tanks of Acid were seen going into the site and photographed by Drill or drop.

The assortment of drilling fluid pumped down the well during drilling and completion can often cause damage to the surrounding formation by entering the reservoir rock and blocking the pore throats (the channels in the rock throughout which the reservoir fluids flow). Similarly, the act of perforating can have a similar effect by jetting debris into the perforation channels. Both these situations reduce the permeability in the near well bore area and so reduce the flow of fluids into the well bore.

A simple and safe solution is to pump diluted acid mixtures from surface into the well to dissolve the offending material. Once dissolved, permeability should be restored and the reservoir fluids will flow into the well bore, cleaning up what is left of the damaging material. After initial completion, it is common to use minimal amounts of formic acid to clean up any mud and skin damage. In this situation, the process is loosely referred to as "well stimulation." Oftentimes, special interest groups that oppose oil and gas production refer to the process as "acidization," which is actually the use of acids in high volume and high pressure to stimulate oil production.
5 Apr '19

Alan,
I did say
Also in my opinion re perforating is not detrimental to the well and is better done whilst the rig is there.
5 Apr '19

Gkb47.
As Alan will not answer your question I will. In my opinion they are re perforating because they think there is a possibility that the perforation have become blocked due to acid wash and the quantity of nitrogen used to try and get the well to flow.
Also in my opinion re perforating is not detrimental to the well and is better done whilst the rig is there.
5 Apr '19

This is what UKOG said 're use of acid at BB.

Recent studies of our nearby Broadford Bridge-1 well show that, because of the chemical
composition of the rocks, the acidisation process can have a significantly detrimental effect on the
ability of oil and gas to flow into the well.

Crucially, the Portland and Kimmeridge rocks also contain significant amounts of microscopic clay
particles bound within the rock. Consequently, as the lime dissolves, some of these clay particles are
released into flow paths within the rock. The “free” clay particles then migrate towards the well and
combine, forming a clay “sludge”, restricting or blocking some of the flow pathways, which can
significantly reduce the well’s performance. Once blocked the flow pathways cannot be reopened.
2 Apr '19

Reallawnmowerman
Exactly the same %percentage dilution as UKOG since September 2017.
2 Apr '19

240million shares in Sept 2017

As at the date of this announcement the Company's issued share capital consists of 458,944,208 ordinary shares of 0.002 pence each with voting rights ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights is 458,944,208
2 Apr '19

Spooky
Really Spooky
Lol


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