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While reading the RNS's of 23 rd of December I also saw this little nugget that people like to pass over .
"Immediately following the current HH-2z shut-in, flow lines were reconnected to HH-1 and dry Kimmeridge oil flow was resumed on 18 December at an initial half-hourly rate of 354 barrels of oil per day ("bopd") with an average daily rate of 301 bopd. "
So the Kimmeridge HH1 will flow 300bpd will it VERY INTRESTING
Portland Horizontal
Rns 28 April 2020
"Consequently, with daily flow rates from production start at Horse Hill averaging over 300 barrels of dry oil per day ("bopd"), asset-level opex, inclusive of tanker export, sales and marketing, now equates to $17/bbl."
R28April 2020
"These include interventions to add commingled Kimmeridge oil flow. If successful, the resultant incremental production will further reduce the field's overall variable opex costs per bbl."
This indicates the above flows of over 300dopd are from the Portland Horizon
"Prior to the Kimmeridge production switch, which was necessary for the safe drilling and coring of HH-2/2z through the Portland reservoir, total aggregate Portland production reached 29,568 bbl, with HH-1 continuing to produce dry Portland oil at a stable rate of over 220 bopd. Preliminary Company analysis of the final Portland pressure build-up test, indicates that the Portland connected oil volume accessed by HH-1 has significantly increased from 7-11 million bbl to 11-14 million bbl, a robustly commercial volume. "
So we have above confirmation in 2 rns of 300dpd from the Portland horizontal just recently and stable 220 in the past .
So the Portland HH1 will flow 300bpd will it VERY INTRESTING
Potentially all there in the RN's as outlined nothing meaningfully left out 600dpd from the potential commingling of HH1
Need EWT HH2z results and they have hopefully put in the FDP for production from HHz2 and other plans on storage etc
Lets get some action going on site
come on UKOG Unitied
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The fool on the hill
@Adrianwfire
#ukog I'm the best Eyes on #Horsehill.
Always have been. Pete and Tony are never at HH. JR and John. Yea
I'm the best . I tell the truth.I'll have SS if he doesn't perform. I won't lick the ****s arse like JR.
Follow me if you want live updates and the truth from #Horsehill,
.............
Foth
I think you have taken your eye off the ball & missed lots lately.
Making Fool news is unreliable news.
Stay tuned for the original and best eyes for the reliable & true news.
Read the RNS & the real fact there not some emotional short term baloney from the fire extinguisher pressure tester.
As any realist knows a purchase of a 35% stake in a licence can be painfully but SS knows the underlying value & will make UKOG pay dividends this may not be a short term play but anything worthwhile is worth the wait which traders are not prepared to do.
All good thing's come to those who wait!
Gl to the patient.
FOTH
https://mobile.twitter.com/Adrianwfire/status/1265230904621969408
So you say you had a deal about going onsite with the ops's manager but that chat changed after SS received his bonus.
Well I think that just about explain the reason why!
I don't think that the problem was SS getting his bonus.
I think the problem was your reaction to it?
I have to say that imo. the way you have behaviour has been a total discrase & as if you think you run the company so no wader you were not allowed on site.
Your behavior is almost as if you can blackmail the company. I am glad this is all out in the open.
The reality imo. is that although you have helped investors over many years with you pictures at the moment it has become disruptive to the company & to investors.
You conduct certainly can not be described as constructive more that of a spoilt child who does not get his way.
I have posted twice some of the reasons that I believe SS received the bonus & will do again. I believe in future that the renumeration committee should ensure that any bonus & the timings of the announcement should be more considered & that they should be at a beneficial time with rewards for directors & shareholders.
I say this with the understanding of the difficult & very likely medium term beneficial decision to buy Tellurians 35% stake as it seems to bring tensions & ill feeling between the company, shareholder & the directors.
To explain we are coming to a point at the AGM where the directors are requesting the support of shareholders, which it is most likely is in shareholders best interests to continue to follow the path that they are on but let's hope the lack of communication & shareholder value creation does not backfire for which the directors hold the responsibility for there own fate & that of the company in which shareholders invest as despite previous promises the situation has not greatly improved.
This appears to be part of the companies legal responsibilities & duty of care for shareholders. I strongly suggest that apart from all the great plans that Mr Sanderson has that he is reigned in far enough to meet the companies corporate responsibilities to it's shareholders. Maybe the directors should make time for shareholder consultations & question & answer sessions on a quarterly or monthly basis. This should form part of the role & responsibilities of the directors as it seems to be a weakness in which Angus are currently leading the way. At the moment it feels as if shareholders are only being used for a purpose without seeing rewards.
I understand the disruption & delays caused by the regulations, planning, coronavirus & the oil price colapse, but the directors have failed to instill the confidence into many holders as if they read this board on occasion the would see the sentiment issues exasterbated by the trolls peddling there lies.
The directors imo. opinion have a responsibility to either communicate effectivel
Cont.
The directors imo. opinion have a responsibility to either communicate effectively or take responsible action.
I am not a Angus shareholder but I have to take my hat off to George Lucan who responded directly to a poster on the LSE board who was bringing the company into disrepute leaving no doubt that if it continued that the company would take action to protect it's directors & the companies reputation.
Below is a post of mine that I previously posted which explains some of my thoughts on SS wages & bonus which covers previous years not the current year.
The benefits will be there for many years to come.
My opinion is different & I accept that I will probably be slated for it as it will not appear popular at this time but I believe what has been achieved from June 2018 to September 2019 is the making of this company.
I believe that the bonus covers :
1. The successful fund raise for the EWT following BB.
2.The conversion from a investment company to a operating company.
3. A successful EWT with 3 commercially viable layers .
4. The successful buyout of partners taking UKOG's share of the HH licences from 32%-86%.
5. The buyout of Solo IOW share & the extra 25% share of A34 licences.
6. The grant of 25 years planning permission at Horse Hill site for 6 wells & a watet injection well & production for at least 25 years.
7. The planning application submitted for the appraisal Dunsfold.
8. The planning for of the IOW which is now submitted & the public consulted.
For me following the flow testing & production of HH2 & maybe at some stage the buy out of Alba & Dorremous. Things will progress & shareholder will start to receive the rewards they deserve. The good thing being that the other UKOG licences are now wholely or majority owned so the growth will be faster & less expensive at that stage.
Wizard ,
I dont think most of us had a massive issue with his wages its the elevated bonus that vexed most.
Wizard - you missed point 9. Shareholder value ? - not important as the first 8 points though ? Take off those rose coloured spectacles and accept reality - people have been let down badly and recovery to profit on their investment is all but gone.
Lucan - there’s a name from the past - haven’t heard a lot about him since he ran off ? History repeating itself ?
Try Angus. Lucan is there.
MM, the pension payment stuck in my craw. SP performance has pretty much obliterated my pension, and in one fell swoop SS had his topped up to where mine used to be.
Qwerty59
I don't think that I wear rose tinted glasses but I think that I have invested in a startup oil & gas company & I have a expectation that it will have it's up's & downs & risks.
While part of the reason for the down is the discount being allied for the acquisition & shares created & being sold by Tellurian & YA what no one has yet seen is the value that has been added as no CPR has been released covering the whole HH licences.
Oh & you seem to like to negate your own responsibilities,do you not realize that we are in the middle of a global pandemic & a world wide lockdown which has caused a massive over supply of oil which caused the price of WTI oil to drop to -$53 at one point & you want to blame everyone else for your investment choices why don't you grow up & grow a pair winging on like a prize turkey just before Christmas.