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20/25 green for me!
18 green boxes!
On a page of 25 posts, I have 17 green boxes.
Is there a certain tension in the air ahead of news?
I never trusted David Anthony Lenigas after I met him back in 2014 and certainly would never have trusted Jonathan Eldred Wilhelmus Tidswell-Pretorius, the instigator.
and worth considering why they sold out.
good luck to you but probably best you pump that dog somewhere else as well really. no matter what tripe people post just look at the share prices, news and histroy. I'm not bashing Angus - just responding to a pump of it here. i'm in both, more to my shame
They are probably still looking for the long weight SS sent them to find.
Very quiet, almost as if everybody is awaiting some news!
Volume of just 5.5m.
gwilliams71, ANGS been hit hard by the news earlier this week concerning the buy-out of SEL's 49% stake in SFB.
But on a positive, ANGS will own 100% of SFB.
SFB is a proven asset with a CPR, and it was sufficient to obtain funding (sub-prime conditions granted)
And that SFB asset will be online and producing in the next few weeks.
Compare to Loxley:
UKOG own 100%
Loxley is completely unproven and historic drills have been dour
It'll take £5mm to drill+ EWT, cash that UKOG dont have
It'll take 3 years to get to EWT (earliest in my opinion) and then it'll likely produce nothing but a few oil shows that'll be hyped as "transformational".
Do you get why I'm in ANGS with an average < 0.9p and staying away from UDOG?
I'm a potential lottery winner.
All I have to do is buy a ticket to win.
And let's not forget, this is all just to get permission to test the site at Loxley;
"In April 2019 UKOG submitted a planning application for drilling of the Loxley-1 well, which is intended to appraise the potentially significant Godley Bridge Portland gas discovery, located in the northwest of the licence. Post period, in October 2019, a Loxley permit application was submitted to EA. The primary objective is to drill, core and test the centre or “crest” of the Portland gas accumulation. If the initial test is successful, we will drill and test a horizontal sidetrack, Loxley-1z, within the Portland and carry out an EWT to establish commercial viability."
angus share price is booming isn't it
No doubt the locals will find a way to take it to court. Plenty from those living at HH to advise them even if Finch has moved. Devon?
But that was before the "76 bcf and 54 bcf" £50k version came out.
PS: I should add that at the time the naysayers were adamant the OGA would say "no" to Angus and that first gas is now forecast for the middle of next month.
"planned for 2019"
LMAO
Be lucky if they ever drill it, after all, how many times can they really expect to go cap in hand to the market for a placing? The open offer was significantly undersubscribed and SS's mates are probably looking at easier bags of crap to shift.
" Recoverable volumes were not estimated at this time due to the inherent uncertainties"
says it all
For information:
Angus first announced it was looking at a potential acquisition on 30/04/19.
On 02/12/19, the OGA approved the assignment of a 51% interest in the Saltfleetby gas field to Angus and Angus's operatorship of the field.
part 2
The dataset available, therefore, gives significant uncertainty in the assessment of in place volumes, the
main issues are:
> The Alfold-1 well reportedly penetrates the reservoir at a shallower depth than the discovery well but
is calculated to have no gas pay only some likely residual oil shows
> As mapped Alfold-1 is on structure and above the contact
> The precise location of Alfold-1 and its penetration of the Portland is unknown
> The structure does not close at the depth of the contact to the north east
To account for these uncertainties Xodus considered a number of possible scenarios. In all scenarios there
was gas bearing reservoir on PEDL234 however, more data is required to properly estimate the in place
volumes. Recoverable volumes were not estimated at this time due to the inherent uncertainties. Xodus
believes that a further modern appraisal well and extended test is required to narrow the current
uncertainties and enable a better estimation of potential recoverable resources to be undertaken.
Previous CPRs for IGas, the operator of PEDL235, have calculated estimates of Contingent Resource of
between 5 and 10 bcf net to IGas. There is no comment on the discovery extending into PEDL234 and
maps are cut off at the licence boundary.
UKOG has informed Xodus that they have plans to drill a well to appraise and test the Portland gas reservoir
and underlying Kimmeridge Limestones in the Godley Bridge structure from a location in the PEDL234
licence. A lease on the site has been finalised, planning permission work is under way and the well is
planned for 2019 subject to the necessary grant of regulatory permissions and availability of funds.
I wonder who wrote this? Part 1
Godley Bridge is a discovery in PEDL235, which is the neighbouring licence to the west of PEDL234. A
recent review by Xodus of the interpretation of wells and seismic shows that there is potential that the
Godley Bridge discovery extends into PEDL234.
The Godley Bridge gas field was discovered in 1982 by Conoco with the well Godley Bridge-1, which tested
gas and a small amount of condensate from Upper Jurassic Portland Sandstones. The trap of the Godley
Bridge structure is a broad east-west trending anticline of Tertiary age. There have been two further wells on
the structure neither of which encountered hydrocarbon bearing reservoir.
Godley Bridge-2 and 2z were drilled to the west of Godley Bridge-1, both failed to find hydrocarbon bearing
sands. The top Portland was encountered deep to prognosis and below the GWC as seen in Godley Bridge-
1. The well penetrated 314ft of gross Portland reservoir.
Alfold-1 was drilled in PEDL234 and penetrated a 211 ft gross Portland sand interval with the top of the
reservoir 1 ft shallower than Godley Bridge-1. The well reported oil shows in the Upper and Middle Portland
zones and weak gas shows. A water wet zone was calculated from electric logs. There is no deviation
survey available for Alfold-1 and the location of the well on entering the reservoir is uncertain, however it is
apparent that a directional survey was conducted and the final well report lists formation tops with depths.
Although the depth of the Portland in the well is known, the XY location is not. The depth and the shape of
the structure as mapped from seismic would suggest penetration of the reservoir above the contact however
no hydrocarbons were seen, only oil shows.
The structure is covered by only sparse 2D seismic data from which the shape of the discovery is defined but
the maps do not close in the north east at the depth of the GWC defined in Godley Bridge-1. Figure 11.2
shows a map of the top Purbeck Anhydrite marker bed showing the structure of the discovery.
Absolutely Legal and worth repeating.....heads up investors....news any day....the government need to be seen to be doing something about the fuel and energy needs of the country!!!
"Loxley gas field is huge in comparison to the size of this small company.The approval of Loxley field will a massive effect on the share price. A rise between 0.5p to 1.0p is achievable just on the approval alone. AIM-listed UK Oil & Gas has announced that a report from Xodus Group details that the area of the Loxley Portland gas discovery lying within its 100% owned and operated PEDL234 licence, is interpreted to contain a significant mean case gross gas initially in place ('GIIP' i.e. gas in the ground before any future production) of 49 billion cubic feet ('bcf'). The portion of GIIP estimated to be recoverable to surface via any future production, the mean gross recoverable resource, is cited as 34 bcf, representing an estimated recovery factor of approx. 70%. Reported high case net PEDL234 GIIP and estimated high case recoverable resources are 76 bcf and 54 bcf, respectively. In terms of recoverable gas resources, the calculated figures places Loxley as one of the largest gas accumulations discovered and flow tested in the UK onshore. If proven by future production, the calculated gross mean recoverable resources would place Loxley second after the Saltfleetby gas field, the UK onshore's largest gas field to date, which produced approx. 73 bcf. These results further underline the Company's view that the 48 sq km Loxley geological structure contains materially significant gas volumes, which in a success case of around 4-5 bcf/year, on an energy equivalent basis, could have the capacity to power around 200,000 homes per year.‘"
"Loxley gas field is huge"
Remember that the second well (Godley Bridge 2) on the "field" found nothing at all
Its taken ANGS (admittedly one of the worst operators in the UK) over 2 years just to RECONNECT Saltfleetby
And you try and tell the young people of today that ... they won't believe you
https://www.youtube.com/watch?v=VKHFZBUTA4k
last 10 seconds
Penguins
I agree there is no such thing as the ‘Loxley Field’ - but in the UKOG fantasy world, let’s pretend it does exist and look to the future.
Gas producers in UK must sign up to the ‘Network Code’ and specify quality of the gas, daily and annual quantities entering the transport system and so on. See this link for details; www.gasgovernance.co.uk
In the unlikely event gas is discovered in commercial quantities at Loxley, its not just a matter of ‘plugging in’ to a nearby NTS pipeline, but rather just a start to a long process to qualify as a gas producer.
It’s inconceivable that UKOG could qualify in a five to ten year period taking into account the need for appraisal and requirement for finance.
Legalease,
Pity there isn't a Loxley Field. There's a discovery in the licence to the west, Godley Bridge-1, which tested sour gas at a rate of 1.44MMscf/d. The appraisal well was dry and a subsequent sidetrack of the appraisal was also dry. It was not developed There was also a test to the east of the Loxley proposed location that was dry.
Any 'estimates' of GIIP are dependant on the Loxley well being successful - unlike Broadford Bridge, HH-2z and Basur-3 - or to put it another way every well UKOG has operated or farmed in to, HH-1 was drilled by the Angus team. So plenty of risk as you might expect from an AIM company scratching around for wells with little more than shows to raise money to drill and pay the salaries.
Anyway first get permission, likely in less than 2 weeks; then find the cash (£6+mm), or maybe another desperate AIM oiler to farm in, then prepare the site and get a rig to drill, and then if sufficient encouragement test.
If the test provides enough encouragement get planning to drill more wells to confirm the accumulation - actual appraisal - if they are successful then apply for planning to develop etc.
First sales gas ?