£2M a year20 Nov 2018 19:17
From Rodders on UKOG
Loads of great positives. Some SS quotes as follows:
1. "Fortunately the wells are not expensive"
2. "Plenty in the piggy bank to not need to tap up the market"
3. "The orientation of the HH well is not optimal to recover the oil at the best rates." So next well they drill will be at a more optimal angle.
4. "The rates we are looking at, the Portland and the Kim.... conservative.... £20million revenue a year.... pretty decent change.... planning further drills and wells at HH"
5. "This is very real, it is not conceptual. people have seen the tankers coming out of site each day"
6. "I mentioned value.... what do we mean by the asset value of an oil and gas field.... how much oil can you get out to the surface and how quickly can you get it out..... these tests at HH give us the metrics, in terms that we know, how much a well can produce, and how much it can sustain..... what volumes of oil can you get out..... Net Present value, we get some very healthy numbers"
7. "£150 to £200 million in the Portland alone"
8. "For each Kim well lokking at £15 to £20 million per well, multiple wells per pad. HH is just one pad, data shows our concept... laterally extensive across the wield. replicate HH at multiple sites."
9. "each site at £100 million" (for the Kim)
10. "IoW.... 127 million barrels of OIP... 4 times that in place at HH (portland), big chunk of value if we get that working"
11. "The train has just left the station, the journey will be in 2019, putting HH into production...
12. "its not like we will be shutting up production now, we will be producing oil and producing money"
13. In asnwer to; Will production be increasingly used to fund exploration? "it doesnt' take you too many wells at £20 million sales that means you can build a piggy bank that means you dont need to tap up the market"
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