Member Info for ChasPB

Nice Axebob, many thanks for update.

Hopefully some of the directors there checking all was OK before issuing an RNS (would be nice tomorrow morning?)

Demand + Value + Forward Guidance

Market Capitalisation > £50.01m

Balcombe:
Following the 7 day test i understood there was going to be approx 2 months of Pressure testing.
Do we know if this has started yet? and
When can we expect some news (during the test or at the end?)

Balcombe "and" Horse Hill
Both these sites seem still to have 2 months testing in front of them.
Could they both apply for Production (2019) Licences for around the same time?
And if so, will be interesting to compare how Sussex CC and Surrey CC planning depts handle the applications

Any views?

Do we have to give 7 days notice to SCC re commencement of Production testing?
and
Has this yet been given?

Anybody know what the latest news is with these situations

I know Brockham and Balcombe are the “Golden eggs”, but we’ve been advised of the undermentioned issues or projects but without any reasonably timed updates.

From: RNS 6/11/2017
Lidsey-X2's Kimmeridge and Oxford Layers,
As per the Company's guidance, geochemical analysis of the Kimmeridge and Oxford layers at the Lidsey Oil Field were undertaken to determine their commercial viability. The Company is pleased to advise that the initial results conducted on the drill cutting samples from the 66.2 metres of Kimmeridge and 105.0m of Oxford layers indicate a strong similarity to the maturity of the Kimmeridge layers at Brockham Field.Â

Q. What action was taken?

From: RNS 17/11/2017
The deeper depth of the Lias source rock in the Lidsey-X1 indicates an increased maturity as compared to layers above the Great Oolite such as the component Kimmeridge and Oxford layers of the Lidsey-X2

Q. What action was taken?

From: RNS 15/01/2018
Brockham BR-X4Z
the installation of a connection to the National Grid for selling on-site power generated from associated gas production is in progress, contracts have been executed with a scheduled completion in March 2018

Q. Successful connection/completed?

From: Website Media News: 03/07/2018
Kimmeridge Assesment Indicates High Quality Crude at Lidsey New Measurements Show Kimmeridge Producing 38 - 40 API, Light Crude
“We will continue to gather more data as we assess the commercial viability of the Kimmeridge across the Weald basin. This includes the highly anticipated basin wide study due in the next month. Demonstrating we have movable oil in the Kimmeridge at Lidsey is an important metric and, we believe, further de-risks our assets at Brockham, Balcombe and Holmwood.”

Q. What was the update from the “basin wide study” some 3 months ago?

Surrey Schools Half Term holidays this week

https://www.surreycc.gov.uk/schools-and-learning/schools/school-term-dates

Wonder if this has started yet?
Looking forward to news!

http://www.angusenergy.co.uk/what-we-do/balcombe-discovery-faqs/

What happens to the Balcombe Field Discovery, after the Company completes the 7-Day flow test?

All of the equipment is removed with the exception of monitoring equipment. The site’s appearance does not change. The company monitors the pressure of the “shut-in” well for two months to measure the rate of pressure recovery and any residual pressure depletion seen in the well. At the end of this period, the monitoring equipment is then removed.

"the Company has agreed that it will issue 5,000,000 warrants with an exercise period of 48 months from the date of issue (the "Warrants") to the Investor entitling the Investor (or any subsequent holder of the Warrants) to subscribe for one share per warrant at the exercise price equal to £0.0995."

See RNS - 23rd Apr 2018 for Full Details

..."The Company will make an announcement when the Convertible Security is converted in whole or in part and will specify in such announcement the relevant conversion price."

ANGUS have not made any announcement as far as I know -

Now is the time to move up to 12p region.

MM probably have all the shares they want for this afternoon and Monday morning in case news breaks before markets open.

Oil hasn't gone anywhere except we are 1 day/3 days nearer to Work commencing.

[Remember STAR WARS]

GLALTH

russell70/UKOG, you will soon find out why ANGUS is the better short term company to be invested in, although I wish UKOG (as a non investor) all the best.

It appears as though the:

East Surrey Green Party
Weald Action Group
Frack Free Surrey

are starting to rally the troops against UKOG/Horsehill expansion plans for 6 wells.

Public Meeting: 23 October: to host a public meeting to discuss the proposals and how they can respond

http://eastsurreygp.org.uk/2018/10/horse-hill-2018/

Wonder if we've started the next phase of [pressure] testing yet?

Many thanks (as always) Alan.

One question tho:

Is there a maximum bopd we can produce a day due to the limitation of HGV movements?

I know we have some storage tanks on site, but say we produced 3,000bopd or 5,000 bopd, they would soon fill up.

Some schools have a day off tomorrow (Inset day), followed by Half Term next week.

Therefore HGV/Equipment movement may not be so restricted to limited hours.

Lets hope we have some news soon!!!

Yes!! - Remember this is STAR WARS !!!

Balcombe: 850bopd - 1,600bopd - 3,000bopd or even more with the right equipment (is only the prequel)

Brockham: ?

would some kind person please offer up a "View of L2" please

As excitement grows I see comments of 3 wells, 6 wells, but no mention of Octopus pads/drilling anymore.

Is this not going to happen? say next year when established?

dont forget, BRENT Oil is up $30 - $35pb since last autumn also

Now $82pb

GLALTH

Northman1 ....." so 6 tankers a day so max production from that is 1200bopd, "

I thought each tanker could carry 2,000bopd, therefore only 3 tankers per day for your calculations?