Uk Oil & Gas Share Chat (UKOG)

It took you 45 minutes to report this momentous news... What caused the delay?

You'll get over it Trish

I can’t help but feel more hopeful with those tweets that have just been released today.

May 11th guns on site.

Took them ages to set up and fire with subsequent RNS. Could be a long wait for news once they have arrived.

"23 May 2023

UK Oil & Gas PLC

("UKOG" or the "Company")

Turkey: Pinarova-1 Testing Update

UK Oil & Gas PLC (London AIM: UKOG) announces that the Company and Aladdin Middle East, the Pinarova-1 operator, have jointly decided to temporarily suspend testing operations pending access to larger, more powerful, 7-inch perforating guns, capable of fully penetrating Pinarova's 9⅝-inch casing and cement. The decision results from analysis of downhole pressure gauge data from testing operations, which indicates that the 4.5-inch perforating guns used have been unable to establish direct contact with the formation through the casing and cement."

Picture is of Kezer river miles to the south of where they drilled. Not sure they actually know where they are drilling in Turkey

TURKEY LATEST: Resumption of testing operations at Pinarova-1 moves closer with more powerful 7-inch perforating guns having cleared customs. Awaiting sign-off on explosive charge permit before guns can be transported to site. #oil #testing #AIM

Congrat's Cynders.

Not sure I agree with the speed of demise but yeah, Only Adrian would still (...say he's...) put money in this.

:-)

As stated, I am closing the Short CFD as I'm now cashing out from a position of 0.08p. A lovely little earner.

I think UKOG will go sub 0.01p by Easter, nailed on, but I'm happy with the profits and it covers my trip to Iceland :-)

Adrian, you really are a muppet.

You posted:-

'JimSnicker

Posts: 23

Price: 0.025

No Opinion

RE: Oil experts 🤣how many bopd is 3.3 million tons of crude over 20 uears? Today 00:18

Penguins.

So you are calling Sarah Finches partners liars.

The figure comes from The Weald Action Group.

And you call Sanderson and UKOG liars. And Adrian and any body else who says things you dont agree with. You need tobget some help imo. You are losing it.'

Not sure who is 'losing it' - but I don't believe the Weald Action Group are stupid and the numbers listed below are from the planning application for the maximum number of HGV movements per day and how long each period of that number of HGVs would last at Horse Hill. As UKOG are currently running about 3 tankers a week, including water tankers, after about 44 months of production (this chart 8 a day) it just shows how ridiculous this chart is.

However what the Weald Action Group (WAG) seem to have done is ignored any decline (just like rampers have in the past - now your're all over it!) and calculate 16 x about 200bbls per tanker ignoring days of no tankers (sundays and BH) and calculated tonnes from that - which equals about 3,200bopd or about your 452 tonnes per day.

To me deliberately ignoring what's in the planning application they're disputing is lying.

In fact even using these numbers and not declining the number of tankers each period and not allowing for no Sundays or bank holidays or shut downs for maintenance results in 35,520 tankers, of course even that's wrong but it's an impossible maximum ignoring how decline happens. Whereas it looks like the WAG has taken 16 tankers x 20 years x 365=nearly 117,000 tankers.

Here's your calculation 'The self proclaim oil idiots . Sorry experts . Dont want to tell me the awnser. So i will give it instead.450 tons times 7 barells is 3150 BOPD.'

Strangely close to 16 tankers every day for 20 years - funny only recently you were claiming the horrendous decline at HH was 'normal' - who's the 'oil idiots'?

From the planning permission documentation, Transport Statement, page 8, HGV movements (in and out per day):-

4 Months 16 HGV

24 Months 12 HGV

48 Months 8 HGV

60 Months 4 HGV

104 Months 2 HGV

I see you've gone again - maybe next time you're here you can explain why you support figures from what you call 'green activists' that are so ridiculous and make you mind up as to whether decline happens or not at Horse Hill - UKOG do even if they got the speed of it completely wrong.

Yeah the secret pipeline is my all time favourite, underwater trading ramp…

Here's the thing about Portland - it is some distance from any decent pipeline that forms part of the national grid gas system which will make connecting any facility expensive and therefore i would expect there will be other depleted gas fields alraedy connected that would be more attractive as an investment imho.

Tell us about the pipeline Adrian, that's always a good wheeze

The government isn’t going to fund a lifestyle company like ukog, run and promoted by crooks, that have already squandered over a hundred million pounds of investors money on around 60 bopd, they should be arrested not funded…

One for the rampers to bank and repost when they need some news [aka an Adrian special]

https://eandt.theiet.org/2023/11/29/britains-largest-gas-storage-facility-switches-cold-weather-strains-supplies

'Centrica’s long-term ambition is to turn the Rough gas field into the largest long-duration low-carbon energy storage facility in the world, capable of storing both natural gas and hydrogen.'

I do not see Hydrogen being stored as a Gas, but if Centrica do, then these might be more to the Portland pipe dream than I think.

Still believe that one person has stopped UKOG drilling wells to produce loads of oil, the sort of amounts I assume you're dreaming of would rapidly repay the cost of drilling.

Much more likely UKOG didn't want to drill - even after they win in the Supreme Court they don't want to drill - luckily DL has turned up to super ramp any drilling.

HH hasn't been flowing all the time since 2016. A few hours in 2016, then 2018/19 intermittently during the ewt, then in 2020 it started production at more than 300bopd. By the end of the year it was producing an average of about 100bopd. You don't seem to understand that that's not normal decline for a decent clastic reservoir. Starting at 250bopd the worst case in the 2018 CPR would have meant 100bopd after year 3 (not after 6 months) based in part on a review of analogue wells and fields as the 2016 testing was only a few hours.

I keep telling you that these protest groups are using the highest figures to scare locals into being nimbys, and get greens to protest.

The figures the protest groups are qoting are from the planning application created in 2019 after minimal testing and assumed wells would produce up to 1000 bopd with gradual decline.

The reality is that following testing and production UKOG didn't deepen HH-2 to log the Kimmeridge, didn't sidetrack into or dual complete HH-1, and very soon after production started purchased minimal equipment used for testing to continue production of the Portland.

As I posted earlier UKOG have avoided publishing a CPR and they've not published any predictions for production from HH despite generating a decline curve - but they have put an NPV value on HH-1 production based on the decline curve - and that's £800,000 - seems they've lowered their expectations since 2019.

Well Adrian, I would say the level of increasing water cut at HH is pretty much the same reason the infamous leader is palming it off to laughing Leni for one last hurrahhhh that will likely make them both a fat wad, no one else mind, just them.. A retirement pot !!!

Ticccccccccccckkkk Tockkkkkkkkkkkkkkkkkk

Well Adrian, you won't need to concern yourself about the greenies over in Turkey, they are ONLY interested in locations where there is a chance of oil being produced, this one is well off the radar lol...

Thank you for your response, Ocelot, it is very much appreciated.

Once you've been taken you need to become an expert pretty damn quick!

UKOG have managed to make experts of most of us.

TICKKKKKK TOCKKKKK klown O'clock !!!!

You have no idea of the background of posters.

But the expertise of the professionals at UKOG is probably on par with FTSE100 companies, posibly they have already worked in one, the difference is the quality of acreage the company can obtain, and the spread of risk.

An 'operator' like DL probably saw the opportunity to promote the Kimmeridge knowing there would be oil shows minimum once the Sherwood was a fail in HH-1. The original testing program didn't expect flow from the Kimmeridge or significant flow from the Portland. The flow from both was probably a surprise and possibly both attributable to more fracturing than usually seen - which may bring good initial flow rates but significant and rapid decline - but once the genie was out of the bottle UKOG weren't going to issue anything negative - leave it to posters and tweeters to extrapolate the chosen extracts of reports and flow rates to extrapolate. Why no CPR since the atart of the ewt.

Doesn't mean that the professionals in UKOG weren't aware of any of the realistic outcomes suggested by 'experts' on this board - just that the company keeps choosing to RNS the most positive or advantageous 'interpretation' or as you put it 'investigating the signa.

Anybody can express an opinion here, just some are more likely.to be right than those that try and denigrate experts, and as vernonya points out anyone claiming every well will be successful is already ignoring the odds.

Vernonya,

EVEN the big boys get it wrong more than you would think, but no where near as badly as this outfit lol,,,,

You keep on trusting in what they say "at your OWN" peril lol

Oh that is funny the self proclaimed 'oil experts', what on earth are they doing in AIM ? The oil companies can call in more than 100 years of exploration experience and hire 'competent persons' by the sack full but none of them can actually predict accurately. They can only read signs , it takes a drill to go down to investigate the signs and only one in five of those explorations ever lead to commercial oil. And as UKOG has demonstrated there are risks with water too. So are we to be led to believe that Shell and BP and the rest sink millions into finding commercial deposits when all they had to do was to consult the experts in AIM ?

Pretty well sums this up Grayling

Trish,

The well has been drilled. The partners now seek to locate the source(s) of the strong oil odours at surface encountered during the drill:

The new guns will be deployed over the Germik/Hoya section where strong oil odours at surface were recorded over a 12-hour period during drilling and mobile light oil was recovered from the mud pit (see RNS of 22(nd) September 2023). (RNS of 21/11)

YA taking it easy today.

29-Nov-23 15:45:16 0.024 27,091,255 Sell* 0.024 0.026 6,502