Member Info for Bridgedogg1

Sorry $31m = £25m, hence circa 3 years to pay back

Actually its around £31m per year, which is amazing - Its a good deal and LEK will be making huge ££ in no time. Just wanted to some clarity and check if I had missed anything, but obviously not to be found on this board. GLA

Not deramping or anything, was a serious question. LEK's contribution is £60m which it will be paying back via oil revenue, so just wondering if there is a realistic time frame for the payback? LEK have 36% of the project so a rough 6000 bopd x 36% x 365 x $40....
I could be way off..

Could rig turn up today?? Tomorrow??

Had a brief look, is it going to be 3 years before LEK get any income after the development?

Maybe you lot should PM each other or start a whats app group so we don't all have to read your back-and-forths?

Surprised we aren’t seeing larger trades go through. Ideal time to get a piece of some funded drills at knockdown prices. A fairly safe buy and hold from here. IMO

Good end to trading yesterday and a good start today. Will we start seeing huge trades at open and close like back in the 10p days? Gradually building momentum now. Anticipating material news flow over the next 6 weeks - Rig arrival, Kim flow rates, drilling updates, £3.5m investment, other assets.....

Could be that we break through the 1.1p resistance this morning, then anything could happen. GLA

Just wondering how long it will take to plumb in that new piece of equipment.

Hoping for an update on HRZ FO on the quarterlys

RIG coming-------- I say RIG IS COMING!

I don’t think they have to put in every rns that they are targeting 2-3-4 times the vertical flow rate on the horizontal. This is industry standard convention supported by third party. What else would they be targeting with the horizontal?
Not sure what you are getting st penguins? That it’s all a scam? They can only get 200bopd from Portland and horizontal won’t improve that so they are gradually letting us know by excluding little bits of info from each subsequent rns? Sounds a bit far fetched to me.

I think we can safely say horizontal flow will exceed vertical flow. We also know that vertical flow is commercial. So horizontal will be $$$$ to HHDL & UKOG. No arguing with that I think?

Bid drops 5% on £500 of sells. Shame after all the gradual increases. Another day on AIM.. news tomorrow??

We are waiting on the transfer of the working interest. For me this means everyone has signed the FO agreement which comes into effect once the WI is transferred. I assume the fo partner insisted everything be completed before details are released to the market.
I know objectively that one day soon I will wake up the news with the details of the farm, im just having trouble imagining it actually happening.

Desmond you are making out like this is a wildcat acreage in the middle of nowhere. Huge finds have been make a few miles away, in the same geological sequences, where we have identified multiple world class leads next to production facilities, using 3D which is supported by historic drill data.
Also you can’t just easily dismiss a lot of demand from multiple parties as irrelevant. Taking your flawed analogy, the used car would have significant interest due to the good quality after being fully accessed by highly qualified mechanics, and would go to the highest bidder with the seller able to set the terms of the deal.

I think we can safely say that the vertical EWT on Kim is a success - Portland commercial at 200bopd and we certainly seem to be able to get that from Kim. The big question is how to address the horizontal.

"The test data confirmed that the Kimmeridge oil pool produces from one single vertically-connected 600ft (200m) or more naturally fractured zone, extending from the deeper KL2 to at least the top of the KL4 zone. Oil production is interpreted to come from both naturally fractured limestones and calcareous shales, which is an unexpected learning."

It is not as straight forward as previously thought with the KL3 & KL4 zones, and I believe we could see a significant increase in the prognosis for the horizontal well(s) if we can get it right. We really need to get the first KL horizontal right and once we do there will be a massive upgrade in the whole acreage. I expect that we will be isolating different zones on the vertical - we still dont know were are the upper and lower zones are, or how do the fractured limestones and calcareous shales behave when isolated.

We are currently undergoing "sim-ops" to see how we can best flow from two well bores. On HH1 I don't believe we are waiting on a rig or on site preparation, I think that recent data also caused a rethink in how the horizontal there should be approached for best flow and we are carrying out further testing and analysis - "Recent pressure build-up data also indicate that the HH-1 well likely "sees" a larger connected oil volume than the 7 to 11 million barrels Xodus reported last year."

I am now having a rethink as to whether we have switched flow to Kimmeridge or if we will stay on Portland until the rig arrives for additional data, but either way we have had very positive developments for both the plays but this has caused slight delays to the drilling schedule.

Are we expecting BEX to give up a proportional amount of WI as part of the FO?

Its a huge a market, there is a whole world outside of 88e and there will always be buyers if there is value. New investors wont have the same hangups about historic SP action. If i was coming in to 88e as a new investor the long term SP graph would be quite attractive, especially with material news due or just announced. Also if a great Conv FO drops and we go up by 50%, along with news of imminent HRZ / Yukon deals, drilling plans.. I'm sure people will be happy to stay in, or partially derisk, especially if they are in profit.