RE: Upside31 Oct 2018 10:46
Lynthip - your statement contradicts itself
"UKOG already have a production licence just a few formalities with the council to get through"
It either has a production licence or its doesn’t? Lets take a look at the UKOG website....note how Brockham has a production licence, but Horse Hill is an Exploration licence.
http://www.ukogplc.com/page.php?pID=60
Note how OGA say Lidsey and Brockham is a PEL, but HH is a PEDL
https://itportal.ogauthority.co.uk/information/licence_reports/databycompanyandblock.html
The timetable companies have to follow are the folks who will give you the permission to produce....OGA, EA, HSE and Local authority . You will have to have public dialogue, meetings...look what Angus faced with a field that already had a Production licence. Soon to be introduced legislation will prevent Leith Hill delays of 9 years, but will not expedite the decision making. Oil companies work to the Government bodies timetables……everything has to be done to ensure it does correctly and safely.
You drill a well, discover oil, test the well, carry out an EWT, analysis the data gathered, submit a Field Development Plan (FDP), OGA and other bodies review it….2 years fly by or more and then they give the thumbs up. What you also have to factor in is that it's SCC that UKOG will be dealing with. Angus went through a tough time for a field that already has a production licence. UKOG HH will be a Greenfield (brand new) …thats even more hoops to jump through and in terms of more delays.
Apart from my experience…you can listen to Vonk here
From 9min 20sec to 10min 55sec.
https://audioboom.com/posts/5915586-paul-vonk-managing-director-of-angus-energy-angs-12th-may-2017
You can also read it at the following links:
https://www.ogauthority.co.uk/exploration-production/development/field-development-plans/
https://www.ogauthority.co.uk/media/5075/fdp_guidance_requirements-document-oct-2018.pdf
Also Cuadrilla paperwork state:
“The borehole flow testing and pressure monitoring data will require analysis. The analysis will enable Cuadrilla to decide whether or not to seek the necessary planning, permitting and other approvals required to take the site forward as a production site. This analysis and assessment process will take approximately six to nine months to complete after the flow testing and pressure monitoring has finished and the data been collected. In the event that the assessment concludes that a future production phase would be commercially viable, then an additional 18 months would be required to apply for and secure the necessary planning, environmental permitting and other permissions required for production operations.
https://cuadrillaresources.com/wp-content/uploads/2017/10/Balcombe-Planning-Statement-26.10.17.pdf
Angus SP will multi bag due to being able to fill up their coffers with produced oil money....UKOG will not be in that position and that's why I expect Angus SP to shoot up once