Member Info for Bridgedogg1

Clearly still some big buyers waiting in the sidelines. Rig / planning / deal rns will alert the rest. All coming together

We have the most data and no oil. Not great. No drilling for a while. No one is expecting the HRZ FO to complete in 2019. Share price drift on the cards.

Some big buys started dropping last week. If you aren’t in before the end of next week you may well miss the party. Two drills already approved. Well head has been prepped. Road has been redone. Surface with has been completed. so drilling could start any day. Our time is coming!

sprintman, think its a bit of a stretch to think that a few trolls are determining the SP. It's good to step back from the board for a while and realise that it doesn't impact SP. The farmout was OK and the benefit will be seen further down the line so without more immediate news the SP is drifting. I got out to have a play elsewhere while I wait for a good opportunity to get back in. I dont think it will go too far south of here and I wouldn't be too worried if I was still holding.

Any input appreciated

Current Planning Permission allows for:
HH-1 Kimmeridge to remain on test production
Drill HH-2 vertical into Kimmeridge layer to obtain additional data
Drill HH-2/2z Portland horizontal development well
Drill HH-1z Kimmeridge devlopment well
Commission CPR to demonstrate discounted cash flows, assign reserves and allow reserves based lending
Note: current permissions allows for the drilling of the wells and testing but not long term production

Anticipated flow rates from both horizontal = 2000bopd assuming we get Kimmeridge horizontal on track before the end of 2019, or 1260 from Portland horizontal + Kimmeridge vertical

Application for full Horse Hill production planning due to be heard by Surrey County Council (SCC) on 11 Sep:
Extension of site
4 New wells (6 total)
One water re-injection well
7 oil storage tanks with 9100 bbls total capacity
25 year production

Well we are hoping for a strong flow rate...

Boom boom boom

Of course it wont wizzer, not on its own, but it all adds up. Shares being taken off the table, forces the MMs to put the price up, more shares released, if there is a keen buyer then price moves up again, FOMO kicks in, rise goes into double figures, rig RNS, everyone piles in, shares already tight, price moves up sharply. Something like that anyway :)

Those buys look great, feels like the old days.. when with the first six digit buy drop in? Someone being very astute keeping the price so low.

That’s why it’s still so cheap. Most, including me thought we would be 2p pre drill.

Is this why the price was dropped, to fill the large order.... tomorrow should be interesting

Some nice block buying today, someone with confidence building a position. A few large sells at the same time, short terms taking gains from the 0.8p-1p levels maybe. Plenty of upside from here when the drill arrives, build from there with 9 back to back drills.

Even if the permitted drill started today it would overrun the planning meeting for the other drills. I wonder what the contract looks like, uncertainty is not good from that point of view. Looking forward to the nine back to back wells all going smoothly!
Possibly see an update in A24 soon too?!?

Thanks for the info. Should be able to roll it down to the site in no time at all. This will all happen quickly I hope. Late summer was confirmed recently so not unreasonable the hope for this weekend but most likely next week/weekend sometime. Still would not want to be out of this over the weekend... I wonder if UJO profits will start to drift over here tomorrow with the flow testing put back.

But is the rig being held up for completion of the drill or is the anticipated late summer arrival down to the other work commitments?

Should see a rise from the bottom of the current trading range, especially as we head into the weekend. Might be the last time we see these prices, then again we might still be awaiting the rig in two weeks. Who knows? What’s the current status of the rig do we know?

This is amazing. Two questions though. Why do a revised CPR when you Re about to do a flow test? And wasn’t the oil target in a completely different layer to the gas?

Looking at another buying opportunity tomorrow. This willl bounce back before the weekend as it always does. Have to say the rig delays are getting ridiculous. Do we know if the rig has finished the plug jog it was in?

I had correspondence with the head of the planning board who also seemed frustrated with the delay, which was he said down to complexities requiring expert opinion and incomplete/insufficient information on the application. He said he was very eager to vote on the application? Didn’t say which way his vote would go though..

Looking forward to the rig turning up.