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Aye GLA lets see what churns out today
Well lets see what today brings GOOD Luck
This RNS of the 5 October 2018 quotes Xodus as saying HH1 vertical well only has connected oil in place of 7 - 11 million barrels oil with a recovery of up to 45% with water injection.
It goes on to say that 2 - 3 wells will be needed to drain the Portland obviously the other Portland wells will have there own connected oil but on that basis pro rata let's say 27 million barrels with up to 45% recovery.
Let just round it down & even though they may be vertical or horizontal wells with more or less connectivity to 9 million recoverable with a 30% recovery.
Blondee, why do you keep posting on ukog if you do not intend to invest?
Hi Deb's...is your Heart still "Full of Glass". lol. I was worried.where you were.
Penguins don’t worry about Simple, there is a reason he has two zero in his username. One just would not express the value of his experience and Ukog knowledge :-))
Exactly wizard you seam more informed than SS, do you still count tankers rolling out of HH or is the number of barrels to ridiculous to mention? The fact SS moved whole attention to Turkey is very obvious. Those drowning will grab razor blade to survive. If Ukog survives as a company for another year I will be very surprised. Amount of lies and misinformation in exchange for tricked investors money. SS has not achieved 10% of something he once declared to be flagship project that will significantly impact uk economy. Anyone here living in Bahamas yet from Ukog investment??
"That does not include any Kimmeridge resource value but was I believe 7 - 11 million barrels oil recoverable with a value of £150 - 180 million."
No..that's incorrect ; Not 7-11 million recoverable but 7-11 million OIL IN PLACE and its referring to The PORTLAND , not the Kimmeridge. See here
RNS dated 15.1 21
"The interpretation of static and flowing data from November's PBU test sequence was also completed, confirming the HH-1 connected oil in place volumes of 7-11 mmbbl previously reported in October 2018"
There's billions of barrels of OIL IN PLACE within the Kimmeridge; did not mean UKOG could get much out did it?
However ; The UKOG Loxley planning document reveals The Kimmeridge is sub-commercial; there are NOT millions commercially recoverable.
If only UKOG would commission an up to date CFPR it would all be made clearer.
As for having to convert the 2nd planned producer into an injector; that's not a positive.
Water reinjection instead of off site disposal is not a NIL cost option as this line from WIKI suggests
"However, the processing required to render produced water fit for reinjection may be equally costly."
You're making it very clear you don't understand a company that you've invested a lot of money in and living in the past.
I know Wizard really needs to stop quoting out of date stuff about HH, and now you're posting.
Strange how trolls keep coming on here (no where else) and regurgitate the same copy and paste old information. Totally obsessed with Ukog ,but claim not to have a stake in the company. Sinister.
Where have I said HH-1 was a wildcat exploration well. It's in a heavily drilled basin next to Collendean Farm. Stop making stuff up. Your ramblings are becoming meaningless.
January 2019. 2 years ago. Only the initial ewt of Portland and Kimmeridge was completed. Said in an interview with conflicting and unverifiable numbers.
Now there's considerably more data, and actions that suggest the words in 2019 no longer hold.
As so many of the statements have turned out to be wrong rather casts doubt on anything that he said based on the initial testing.
Even your quote:- 'had you bothered to listen to the video the following wells would be production wells.'
There's only one production well.
What's your timescale for the not too distant future for a Kimmeridge CPR so we can compare your expectation with the reality. I'll go for 2 years to never.
Where is 7 to 11 mmbbls quoted as recoverable oil? It's the number UKOG quote as connected oil per Portland well - and it's possible another well close by will have overlapping connected oil.
You imply that HH1 was a wildcat exploration well which was not the case , It was a appraisal well. I hope that the development will bring the commercial declaration for the Kimmeridge but the resource is available.
Petropedia - For the Energy Industry quotes a appraisal Well as:
Definition - What does Appraisal Well mean?
An Appraisal Well is a vertical or deviated well that is drilled so as to understand the potential of a hydrocarbon reservoir before commercial production of oil from a well can commence. The drilling of this well is an important part of the exploration and production activities of an organization. In the chronology of asset development program, appraisal drilling in performed before starting the commercial production.
An Appraisal Well is.
During field appraisal programs, appraisal wells are drilled in order to ensure that the discoveries made during exploration field have enough hydrocarbons that can last long and give an economic appreciation to the organization findings. Once the appraisal wells are drilled they provide information such as physical extent of hydrocarbons, likely production rate from the field, flow of fluids and volume of fluids, etc.
In any asset development program, there are certain procedural steps that follow one another. Below are the phases in chronological order of the asset development:
I'd say that UKOG following the grant of the production licence are at the 'Field development stage which comes prior to the production stage.
The reality is that Horse Hill was granted a production licence in 2020 on the HH1 which was drilled as a test well had you bothered to listen to the video the following wells would be production wells.
HH 2 is now indeed going to be converted to be a water production & injection well which will support reservoir pressure increasing production & reducing costs of water export.
At the risk of upsetting Penguins further.
Just as a little reminder for shareholder is the SS interview of January 2019 where following the Horse Hill flow tests SS talks about the 10 million barrel of oil recoverable from the Portland & Net present value & it's benefits which are not as good as selling the oil for $60 - 70 per barrel as the opera to but can be used to fund development & reduce the need for dilution.
That does not include any Kimmeridge resource value but was I believe 7 - 11 million barrels oil recoverable with a value of £150 - 180 million.
The confirmed Kimmeridge resource will I hope follow in the not to distant future.
The only verifiable informaion is in the CPR, you can read that (about 1.5mmbbls 2C (contingent) resources gross) - but that, like any statement about recoverable resources, predates what is now known about the Portland and Kimmeridge.
But actions speak louder than words - especially when there are no words.
If what has happened was predicted in the models - 6 months after production start oil production would have dropped to a third and water cut over 25% perhaps SS should have mentioned it.
Who trusts the man in pink trews. Heid?
If you trust Sanderson you will believe what he said in this video about reserves in The Weald .
Sanderson said the total production and RESERVES proven volumes from the entire Weald ; just 32 million over 12 wells .
If UKOG would only produce a CPR all would be made much clearer. Why don't they? I suspect it would disappoint.
That was what knowledge do you have on UKOG's Horse Hill resources?
I'll take no comment as none!
What knowledge to you have of the Horse Hill resources?
Rich3648 I totally agree matter of time but rampers will do their bit till another placing and it’s coming. Would not dare to touch this share for as long as SS is in charge
Positive as ever...
I still believe in this share, we just need that big of luck we deserve ... we know this share can fly with good news
The only way he could do the turkey deal was by raping share holders of more money by more dilution and he will rape again and again until this turkey dies.
Why would Sanderson buy a dead dog and lose money? He knows this turd is done that’s why he did the Turkey deal to prolong his wages while we all watch another failure. This guy needs investigating ASAP
HH-1 production began in March 2020 at 'over 300bopd '(though probably not much over).
By September that had become an average of 93bopd, plus 31barrels of water per day.
An optimised recompletion and reperforation in October resulted in an average of 101bopd in November, and 85bopd in December.
HH-2z was abandoned as a producer and, subject to EA and probably OGA approval, will be repurposed as an injector.
The next well, HH-3, is planned to be an updip test of HH-1 - but with HH-1 and HH-2z wells suffering water ingress - HH_2z definitely from 2 different zones of fractures - there must be a high risk of the same happening again.
Much was made of the Kimmeridge OIP, but it was never explained that production depended on 'free' oil - not the total OIP. This meant the producible oil was much less than the total OIP and relied on pressure support that doesn't appear to exist.
UKOG are now planning to test the Kimmeridge in an updip location now. This suggests that the original concept which was being tested at Broadford Bridge 'BB-1z was deliberately drilled in a location where no conventional hydrocarbon trapping mechanism within the Kimmeridge reservoir section is evident.' was possibly not only disproved at BB but also by HH-1 - where pressure was cited as an issue in the Loxley planning application.
The EA Geological Reservoir Parameters report showed the pressures during the 2020 testing of the KL3 as between 600 and 619psi, it also gave the bubble point as 815psi and interesting in the 15/11/2018 RNS UKOG stated that 'Prior to the final shut-in period the well was producing oil at a stable bottom hole pressure of around 800 psi.'
So already below bubble point early in the testing - and significantly below by 2020. Depleted fields might be produced below bubble point - not during initial testing. Perhaps why during the ewt the flare was seen to be going very strongly.
UKOG didn't deepen the HH-2 well to obtain critical information about the Kimmeridge, they didn't drill HH-1z and didn't dual complete HH-1.
Yet despite UKOG avoiding getting a CPR done and all the evidence to the contrary for both reservoirs 'I still think it will come good even as bad as it may look at times as I believe that the underlying resources that I have seen are now proven'.