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Timor Leste...There's a lot of Gas
Conservative estimates put the size of that field at more than 10 trillion cubic feet of natural gas, but some experts believe the subsea geology is such that the actual number could be 10 times that. The country is anxious to develop this field; the current government aspires to create something akin to Norway’s wealth fund in order to help fund development projects and other services for its population. Given the size of the field and the country’s population, such a fund could one day generate a per-capita revenue stream for its population that rivals Norway.
Mon, 24th Oct 2022 07:00
RNS Number : 7915D
Baron Oil PLC
24 October 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
24 October 2022
Baron Oil Plc
("Baron", or the "Company")
Chuditch PSC Update
Significant increases in management's aggregate Gas-in-Place and Recoverable Gas Resource estimates
Baron Oil Plc (AIM:BOIL), the AIM-quoted oil and gas exploration and appraisal company, is pleased to provide a further update on the TL-SO-19-16 Production Sharing Contract, offshore Timor-Leste ("Chuditch", the "Chuditch PSC" or "PSC") and the preliminary interpretation of the reprocessed Chuditch 3D seismic data.
Chuditch Highlights
· Best case aggregate gross Gas-In-Place estimate of approximately 5,500 BCF versus an equivalent estimate of 3,889 BCF prior to 3D seismic data reprocessing
· Best case Recoverable Resource estimate of 3,625 BCF, using preliminary gas recovery factors of between 50% and 75%, versus an equivalent estimate of 2,924 BCF prior to 3D seismic data reprocessing
· Chuditch-1 gas discovery best case Recoverable Resource estimate of 1,350 BCF is materially larger and may independently represent a Liquefied Natural Gas ("LNG") scale resource
· ERCE engaged to prepare a Competent Person's Report ("CPR") - potential for contingent resources to be assigned to the Chuditch-1 discovery
· Chuditch SW prospect Gas-In-Place estimate has increased, but greater structural complexity may imply a lower recovery factor
· Extension of sizable Chuditch NE Lead onto 3D seismic data area confirmed
· The previously unevaluated 'Quokka' Lead extends onto the 3D seismic data area
Technical Update
Preliminary interpretation of the Chuditch PSC reprocessed 3D seismic data is leading to significant increases in management's aggregate Gas-in-Place and Recoverable Gas Resource estimates (the "Update") compared to the previous independent Prospective Resource estimates by THREE60 Energy (the "2021 Report", 14 July 2021).
The preliminary interpretation has led to a significant uplift in seismic imaging quality and has significantly reduced subsurface risk. Mapping indicates a greater concentration of resources into the Chuditch-1 discovery in a simplified and robust structure with relatively high gas recovery expected. The adjacent prospectivity has evolved; its understanding is now more robust, including confirmation of leads extending onto the 3D seismic data area.
Consultancy group ERCE has been engaged to prepare a CPR to provide an independent validation of Baron's internal resource estimates to a SPE PRMS compliant standard, which will include a probabilistic estimate of Resources and revised risk factors.
It's my Birthday today
Lucky me I started a war...not a great day to have your Birthday on
And It gets worse I desided to invest here for my present
I'm already 12.5% down this could be my worst Birthday ever
Chose this for the no falling out and no animosity..don't want it here
Oil and Gas
Why pay billions to import all of this when we are sitting on a goldmine
Oil and Gas
Why pay billions to import all of this when we are sitting on a goldmine
For a variety of reasons, international wholesale prices are soaring – not least because of artificially implemented pressure from President Vladimir Putin, who is said to be inflating the price of gas coming out of Russia.
And yet, this mess makes little sense when Britain is sitting on ample gas, oil reserves.
Oil: Twenty years ago Britain was self-sufficient in oil. No longer. We produced 49million tonnes of oil in 2020 but had to import 63.7million tonnes. (One tonne is enough to power 500 homes for a day).
Again, this is despite huge reserves under the seas surrounding Britain. Our biggest sources of oil were Norway (14.2million tonnes), the US (13million tonnes), Russia (8.2million tonnes) and the Netherlands (6million tonnes)
Yet we are sitting on Vast Resources here in the UK time to get real
We the majority shareholders own approximately 79.8% of the company
I think there is about 15 top shareholders who own about 20.2% of the company
Is this public knowledge or is it secret..Who are this top 15 and how much do they have to lose here
Thu, 29th Jul 2021 07:00
RNS Number : 8084G
Union Jack Oil PLC
29 July 2021
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
29 July 2021
Union Jack Oil plc
("Union Jack" or the "Company")
Wressle Operations Update
Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company is pleased to offer an update on operations at the Wressle oilfield development, located in North Lincolnshire, covered by the licences PEDL180 and PEDL182.
Union Jack holds a 40% economic interest in this development.
The Company is pleased to advise that the proppant squeeze operation on the Ashover Grit reservoir interval in the Wressle-1 well has been completed safely and successfully. A total of 146 cubic metres of gelled fluid with 17.3 tonnes of ceramic proppant were injected into the Ashover Grit formation in line with the authorised programme.
No health, safety, environmental or security issues were experienced during the operations; and as predicted, real time monitoring confirmed there was no induced seismicity and that the noise levels were well within the permitted limits. The operation was subject to a pre-operational inspection by the Health and Safety Executive and active monitoring by the Environment Agency. Ground and surface water monitoring has continued in accordance with the requirements of the Environmental Permit.
All equipment and personnel associated with the operation have now demobilised from site.
The Wressle-1 well will now be subject to a coiled tubing operation to fully clean the production tubing prior to bringing the well back into production through the permanently sited production facilities.
Based on the implemented programme, pre-operational simulation modelling concluded that the proppant squeeze operation would result in constrained flow rates of 500 barrels of oil per day (gross).
Once the well is brought back into production, we will provide a further update to report on the stabilised flow rates achieved following the proppant squeeze and coiled tubing operations.
For further information, please contact
Union Jack Oil plc info@unonjackoil.com
David Bramhill
SP Angel Corporate Finance LLP +44 (0)20 3470 0470
Nominated Adviser and Broker
Richard Morrison
Richard Hail
Caroline Rowe
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