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Pboo.
I do not think we have had 350 tankers yet , but hope you are correct.
Anyway good luck to you and keep up your excellent postsGLA.
The OGA will be monitoring the test closely
they can extend the limits if they want - officially these can't be done for simple "commercial" reasons but if UKOG/HHDL can make a case that they are still collecting vital information then they have a good platform.
Especially as there is bugger all else going on onshore I'd guess the OGA like to see activity.
I'm sure they're also in contact with the Council - it would be crazy to try and put one over on them
Is it market sensitive - no - because they are continuing as they have done for the last year = no change
Stopping or the rig on site is a critical change; some day traders desperate for news is not the business of either UKOG and CERTAINLY not the OGA
UKOG/HHDL will have agreed with the OGA a plan for the ewt which will have flow rates and time periods.
The export limit will be determined by the plan. If they have a good reason for extending the ewt the OGA will extend the export limit.
Therefore continuing with the ewt demonstrates they have not exceeded whatever the current limit is. There was a lot made of the Portland test having to eke out the daily volumes because of the export limit - but the flow rate and length of test agreed decides the limit.
Perhaps more intriguing is the actual number of testing days there have been vs number of days agreed in the planning permission.
Fc1865, why, considering I'm underwater and it's to my benefit that the price rises, would I want to plant seeds of doubt? Just think for a moment what you're typing.
Pboo and argus1.
I was interested if there had been published increase in limit. I would have thought that would be market sensitive information, but I can't seem to find it anywhere. So maybe it's just not important to tell shareholders this information?
I was/am curious to know if UKOG have reached anywhere close to the limit and may have to stop production. That wouldn't be good.
For what seems like quite an important limit, there seems to be little to no information available.
21ATS
Ukog would not continue to export Oil without OGA permission. The information is not made public but you could request that information through a Freedom of information request to the OGA just like the protestors have done in the past.
21ATS, the OGA permits and the extraction amounts can not be ignored. The 2016 HH well test was stopped because it so quickly reached the permitted amount. There will have been a new permit issued to allow the present oil extraction.
21ATS, In a post on the 20th you stated you are under water here with an average of 2.17, so did you buy at them rates without knowing any of the information you are asking for on this board ? or are you just planting seeds of doubt !!!
Yes that's all quite clear and the numbers add up. I'm not questioning what's been pumped so far that's now quite clear.
What I'd like to know is if there's an increase in the limit in the OGA allowance? As clearly any I can find have been exceeded considerably.
If there is a new higher limit, what is it and are we anywhere near it?
If the limits are fluid and /or simply ignored, what's the point of having them?
Zoom
We passed the 5300 tonnes a couple of months ago. My guesstimate is that we have exported near 7000 tonnes
21ATS
Read the RNS's
The last one 28th Junesaid 54000 barrels / over 250 tankers has been exported. That's nearly a month ago so I would add at least 30 tankers to that. So about 280+ approx 7000 tonnes.
2ATS, IMO The 5300 tons was for the test period with no end date. I presume that we have at least a dozen or so tanker loads to go. IMO SS is feeding this KL layer to co-inside with the rig being up and running.. Application has already been made to the OGA for extending the test period and or for a production license for the Portland and the KL layers.
I do not consider that there is a problem, and so I will just sit tight.
GLA.
So any idea what the current/latest production limit is?
Fri, 17th May 2019 07:00
RNS Number : 3326Z
"213 tankers of crude exported primarily to BP's Hamble oil terminal."
lovely, that all adds up then. I was just trying to figure out how close we were to any pre determined limit that might cap production/testing.
If there is an increased OGA figure it would be good to know what that is.
That OGA permission for 5,300 tonnes expired 14th June 2019
We are now closer to 300 tankers.
54,000 Barrels of Oil is circa 245 trucks if we use 220 BoO per truck.
Is that right? I only thought we'd recently passed 100 trucks?
Original figure was 5300t which was raised by 10% to 5830t and I gather it has been raised at least a further once if not twice or more by the OGA.
Any idea if the limit was officially raised to another figure? I'm struggling to find anything in black and white.
21ATS: According to the last RNS dated 28th June "54,000 barrels" had already been produced and sold.
Over 15,000 barrels more than that total figure allows.
So another substantial increase must have been authorised by the OGA.
The OGA must want as much oil as possible to be produced by UKOG at HH. Bodes well for the future.
Right so having done some googling I've figured out that 1000kg (1 metric tonne) of oil equates to 7.33 barrels.
5300 x 7.33 = 38,849 barrels.
Anyone have a reasonably accurate figure of where we're at today with barrels of oils produced?
On the 14th June 2018 the OGA gave permission to extend the EWT at HH up to a maximum of 5300 tonnes of oil.
https://www.whatdotheyknow.com/request/513050/response/1260646/attach/html/9/ogaewtcons.pdf.html
How close are we to that number?
How many tonnes per tanker?