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I agree Allan H must be a fan - that's why I pointed it out .................
But can anyone show me where NUTECH advise (or advised) the UK Govt.?
Allan Howard knows exactly what he was getting in to.
Hold tight.
It’s only going one way.
GLA!
Hex314 was making panicked wild accusations of BS and other posters making things up, and all along it was hex314 with the BS and making things up.
My thoughts exactly bladehater, a professional with access to all the data and the experience to understand it changed his life to be a part of it. GLA
Great positive news! Boom!
Mirasol
"And the guy behind the NUTECH report is Allan Howard - who is no longer there but runs another outfit - and he's on the Board of UKOG now (but not at the time of their report)"
Very good point, he moved over to UKOG having seen all this data on the Weald.
Would he move across if he thought it was substandard??
NO, no and no, so this reinforces the OIP figures...… shot yourself in foot there old boy!!!
Hex314, Ukog PLC website. Look up the report dated 18th June 2015, Independent Assessment of Horse Hill Licences.
"world renowned oilfield analysts and oil advisers to the UK Govt, Nutech. "
Where does it say NUTECH advise the UK Govt.??
And the guy behind the NUTECH report is Allan Howard - who is no longer there but runs another outfit - and he's on the Board of UKOG now (but not at the time of their report)
Hex314, if you know better than Nutech, telephone them and inform them of your superior oilfield knowledge.
Have your qualifications at hand.
Troll hunter,
Perhaps you need reminding the 10 billion barrels was an estimate of OIP for all the Jurassic shale/limestone layers, not the Portland which is the reservoir that HH-2z has been drilled in, and HH-1 will be producing from for the forseeble future - ie until UKOG finalise any plan, should one emerge, for production from both KL and Portland from HH-1.
The Kimmeridge was only part of the 10 billion barrels, and how much of that OIP was in the fractures, which seems to be the mechanism for production, isn't known - for some reason UKOG haven't mentioned that 'learning' from the cores at Broadford Bridge.
Why, if there is so much oil that can be recovered according to you from the Kimmeridge (by the way even Nutech, not renowned for holding back stated normally 3 to 5% recovery from a fracked reservoir), are they not pressing ahead with 'contacting' as much of those billions of barrels of oil as possible by drilling horizontals into the Kimmeridge as they surely learnt so much from Broadford Bridge and testing the Kimmeridgemat HH for many months already.
Oh yes - I remember now - risk mitigation.
But the focus is now on the routine fix for the issue with the Portland in HH-2z, and the long awaited CPR for the Portland with hopefully RNS after RNS of good news(at last).
https://www.lse.co.uk/rns/UKOG/nutech-assessment-of-ukog-weald-basin-interests-gty6rd2fmfj643h.html
"The Report's calculated OIP volumes are derived from a 3D geological and petrophysical static model containing analysis of 85 DECC/OGA released wells and one proprietary well over the wider Weald Basin."
"This was a very rigorous study analysing the oil in place measured in 86 wells calibrated by our own in-house core and cuttings analyses, geochemical and legacy data."
I prefer to listen to the oilfield experts 86 well analysis than people who cannot read a report that's right in front of them
Give me a link. I gave you al link and page number https://www.ukogplc.com/ul/UKOG%202018%20CPR%20060618.pdf
You don't seem to be able to produce the same. OIP and p50 are different things. You do understand?
Yep, buys coming in but wait for trading to properly pick up.
We're only hitting just of 100 trades per day right now.
In 2017 UKOG were hitting 3000 trades per day.
Those days will be back soon when everyone gets confidence back and wants in again.
It'll only take one II to start building a position and the herd will follow....... follow the money.
As long term holders, we've done our reaseach and know how much value it there. The market will catch up and look at UKOG again when they release the pending news.
GLA
Hex314, it is not posters making the claim of P50 10 Billion barrels within the HH licence areas, it is in a report on HH from the world renowned oilfield analysts and oil advisers to the UK Govt, Nutech. It can be seen on the Ukog website and in RNS.
Have you heard of them?
Who you wish to believe is your choic hex, world renowned professional oilfield experts, or Backwards man's fag packet calculations.
TrollHunter2
Are you talking HH-1 or HH-2Z?
Are you talking Portland or Kimmeridge?
They haven't cored the Kimmeridge yet so how do you expect them to produce a relevant CPR for the Kimmeridge?
You guys are contradicting yourselves. One is claiming p50, the next saying to multiply by a percentage to get recoverable.
You still are not providing links.
The kimerage layer has never been declaired commercial. Therefore pretty risky to claim any sort of recoverable fingers from it.
So if we can only recover 30% of it (and they can very well hit 50% or more) and let's say on average just $40 per barrel after costs we can calc the value of the asset.....
30% of 10Billion barrels = 3 Billion Barrels.
X $40 = $120Billion
That's quite a bit..... should be an interesting SP reaction to the CPR when they finally release that prior to production in the coming weeks.... I guess they'll turn their attension to that after they set HH-2z into it's test cycle....probably this week.
Huge value to be realised by the market here.... don't sell too early on the massive re-rate once the market regains confidence in UKOG.
GLA
Hex314, Nutech report HH, Table 1. On Ukog plc website and in RNS.
Easy check for those who can read RNSs etc.
Derampers are estimating horizontal flow rates to be same as the vertical flow rates. Eye roll emoji.
Once the water shut off is completed we will see the impact of having exposure to 60x more oil in the sweet spot than the vertical.
Hex - 1.498 - That’s just for the Portland layer !!!!
Total BS. 2C 1.498million barrels see page 42 https://www.ukogplc.com/ul/UKOG%202018%20CPR%20060618.pdf
https://youtu.be/a2h2kWmf5iA
Cite your sources. Stop making stuff up.
According to Nutech and Shlumberger, world leading oilfield analyst and advisers to UK Govt. There is 10 Billion barrels of OIP P50 within the Kimmeridge formation in the HH licence areas alone.
That does not include the Portland Reservoir millions of barrels of oil.
Which is more reliable. The Nutech and Schlumberger scientific calculations, or the Backward man back of a fag packet working out based on a made up assumption to support his personal agenda?