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"I have no recollection of UKOG saying the oil goes to Fawley via the pipeline."
Sorry sjb - we were all trying to find the pipeline that Tymers claimed existed from HH to Fawley....................
One way only............................
So when the company says "More than 250 tankers of crude have been sold to Perenco at prevailing Brent oil prices and transported successfully for onward shipment to Esso’s Fawley Refinery near Southampton." in the Unaudited results for the six-month period ended 31 March 2019 they are lying are they?
https://www.lse.co.uk/rns/UKOG/uk-oil-and-gas-plc-half-year-report-8r63cm13f6d1t62.html
Thanks SBJ
None of the HHDL crude goes to Fawley, it’s added to the Wytch farm crude in one on the four 150 k barrel floating room crude tanks they fill , then they forward sell a 600 k shipping load, most of the time to Antwerp, quite common for Wytch crude to go to Antwerp, herein is the small discount that SS refers to , Perenco will charge HHDL for the privilege of using their storage facilities ,and handling the crude, this is the only route to market for small road tankers of crude in Southern England,
HHDL send the crude to hamble - not sure if it then goes across to be refined and then shipped back - looks as if that's not necessary as Hamble handles Wytch Farm crude as well.
Wiki
Hamble fuel terminal was opened by Shell in 1924, whilst BP were still afloat using a converted passenger liner as a fuel tender. In 1930 the two companies formed a joint venture and BP moved to Hamble. This partnership was dissolved in 1976, with the Hamble terminal passing to BP.[7] A recent 2016 attempt to sell off the terminal, was not met with success, however Hoyer now handles BPs bulk fuel road transport operation.[8]
A pipeline runs under Southampton Water from the Fawley oil refinery which supplies the BP fuel terminal at Hamble. This fuel terminal was used to supply PLUTO, during the Invasion of Europe in World War II.[9] The PLUTO pipeline started at Sandown on the Isle of Wight and was supplied by ship from Hamble.[9] The jetty at this fuel terminal was extended in 1943/44 so that more ships could be loaded simultaneously.[9]
Fuel is transported from this depot both day and night, in particular early mornings (between 3am and 6am), by 44 tonne road tankers along the B3397, as well as by pipeline to major industry and airports. Markers showing the route of the pipeline can be seen
Hamble Oil Terminal http://www.solentforum.org/solent/our_economy_and_industries/petrochemical_industry/
The BP terminal on the River Hamble acts as an important hub for the transportation of oil and refined products. At Hamble, crude oil is delivered by pipeline and transported from there to the world’s refineries by seagoing tankers. Refined products reach the terminal by ship and pipeline and are then distributed to customers by road tanker, ship and pipeline. In between arrival at the terminal and subsequent distribution, both crude oil and refined products are stored in a series of large tanks; five tanks are devoted to crude oil and 25 to the range of refined products.
full history here
http://www.hamblehistory.org.uk/shared/attachments.asp?f=7681cf9f%2D705d%2D4a85%2D82fe%2Dc5ef720d7e28%2Epdf&o=17%2D%2D%2DBP%2Dvisit%2Epdf
There is no oil and gas on the IoW as yet.
Once they discover it and test it then you can talk about a pipeline....................
Nobody on here seems to understand the relationship between Hamble and Fawley, unless you know the details, which cannot be gleaned from google, then you automatically assume their is an interaction between the two, pipeline for instance, which because of where it crosses the Solent, people assume this relationship, very few people actually understand what’s going on here,and the wider implications for onshore southern oil production.
But that's not going to the IOW
Yes - it connects the big refinery on the west side of the Solent to the Perenco facility on the East side
You can see it on the interactive map at https://www.slpproject.co.uk/interactive-map/
No It's Not Pluto
That's from Sandown to France
Are you sure there's a pipeline across the Solent
"Tankers are leaving fear not and yet the pipeline is a very obvious choice and yes already exists"
Well he definitely said it..... but seems unable to find it when asked................
Tymers
I take it you are on about the old Pluto pipeline from the 2nd world war
Bridgedogg1
I think SS is doing a great job obviously he needs someone good luck getting the balls rolling with the Portland & wells at HH & CPR.
This will provide a platform for growth which will not require new licences only new sights for a proven concept.
The reality of the diagrams in the presentation of finished sites is that they will be no more invasive than a electricity sub station next to people's houses currently in the community.
Wizard, good to remind everyone of the assets held by UKOG. Of course we had to pay for them but much better to have quality assets and some debt/shares than having very little assets and no drilling which is where we would be without the YA cash and dilution. It’s been painful for shareholders but puts us into a much better position to capitalise in our assets. There is also the the element of luck. I’m hoping we get and update early next week and there is a clear plan for Hh2z if additional workover is required. Shane we can’t snake out fingers and get a rig on-site, but that, like the cash raising is just the realities of the O&G business.
He certainly does not know the facts behind UKOG.
Crocqman, Dynamo2 has only been posting on here for a week or so. At the time I posted he had 5 posts to his name. In my opinion he is just being disruptive.
Not sure a FTSE 100 boss is really comparable in this context (or FTSE 250 for that matter).
Most, will receive shares as part of their remuneration package, or a 'golden hello' when joining the company, so will not necessarily have put their own money in, rather than sacrifice some salary for what is probably a tax-advantageous position.
SS buying shares was a concern for me circa 1-2 years ago, but immaterial for me now.
My previous stance was from a position that many II's, Investment firm Fund Managers, etc would only consider investment in an AIM firm if management were 'bought in' too and showing their commitment to progressing the company. From that perspective, options are not considered to be an alignment of management with their shareholders.
This has always been too contentious an issue, and not really worth getting too bogged down with in the grand scheme of things as everyone will have examples of where 'alignment with shareholders' can be shown to be good, or bad.
I would much rather see better communication with shareholders and a more visible company presence looking to attract that all important II money as well as maximising cash generation in order to allow access to better sources of fund raising to allow a more steady footing for long term growth.
Ninetails . I'm bored if you now as such note note
Thought so, you couldn’t back up your pipeline rubbish, ok enough time wasted on you trolley dolly.
And for starters this is not the FTSE 100 this is AIM, for start up companies, and if the CEO puts his money where his mouth is, it shows he actually believes in what he is doing and future success of his fledgling company, whilst taking a risk along with shareholders, but hey ho Tymers you are the self proclaimed expert.
Thought so! Anyway most if not all CEOs acquire stock over a period of time some 5 some 10 years into their tenure. Ss has no doubt a focus in developing ukog into the second.largest onshore UK oil producer ! Not to be sniffed at and onto a FTSE 350 in time . I for one will go with Buffet and allow a little patience.
Ok Tymers if you elaborate on the pipeline we have...
Dynamo2
I think you have it the wrong way around.
If UKOG issued shares at 1.6-2.5p per share I think that is added value to the current share price& the companies who want to sell hold or lose.
The current YA & TELLURIAN is far more balanced. imo.
Name 10 CEO's of the FTSE 100 who are invested you have 5 minutes