Member Info for Ibug

He is saying watch me turn this silk purse into a sows ear.

The big question is would ALBA and DOR sell their interests to PPP? Now that could make things interesting.

And look how the "national interest" has turned out. They are giving it all away.

"Pennpetro will receive a 49% share of all production derived from Horse Hill-3 and future wells plus a 49% interest in the Licences. UKOG's subsidiaries will retain their current interests in all oil production from Horse Hill-1 ("HH-1") and HHDL will remain as the named Licence operator."

Apart from HH-1 revenue UKOG will earn less than PPP in all the other wells.

https://twitter.com/UKOGlistedonAIM

Road still not finished and it was only intermittent light rain looking at the forecast daily .

Breaking: Surrey blocks second IGas grey hydrogen scheme

Councillors in Surrey have unanimously rejected plans by IGas to manufacture hydrogen from methane at its site at Albury near Guildford.

Full story here;

https://drillordrop.com/2023/03/29/breaking-surrey-blocks-second-igas-grey-hydrogen-scheme/

ART123
It is part of the Retention Areas agreement for the licence so they are obliged to do it as part of the licence Area agreement as amended.

This is the original but check the RNS's for updates.
"drill a Portland appraisal well of Horse Hill 1 by 30 September 2019, drill a Kimmeridge limestone appraisal well of Horse Hill 1 by 30 September 2020 and acquire 40 km2 of 3D seismic by 30 September 2021"

"detection wells named Sadak 7 and Sadak 8 will be drilled within the borders of Sagirsu village" will be sighted right on the SE border of the Basur/Resur Licence area and 5km to the east of R5.
Update. 5 Sadak wells were finally drilled and it was only Sadak-3 that ever produced 1000 bbls in the 5 months it was producing. The CEO is the brother of Cem Sayer.

Güney Yildizi Petrol will search for oil within the borders of Siirt's Merkez and Eruh districts. For this purpose, the company will drill 4 detection wells.
Energy Diary - Güney Yildizi Petrol will search for oil by drilling 4 detection wells within the borders of Siirt's Merkez and Eruh districts. 
Güney Yildizi Petrol Üretim Sondaj Müteahhitlik ve Tic. Inc. four oil exploration drillings are planned in the field with license number AR/GYP/K/M48-A4, located in Siirt province, Merkez town Sagirsu Village and Eruh town Dalkorur Village. 
With the project, detection wells named Sadak 7 and Sadak 8 will be drilled within the borders of Sagirsu village, and detection wells named Dalkorur 1 and Dalkorur 2 within the borders of Dalkorur village. It is aimed to determine the presence of crude oil reserves and the amount, if any, with the wells to be drilled. The cost of the project is estimated at approximately 10 million liras. In case of positive results of the drillings, it is planned to convert the field into a production well for oil production.
Together with its subsidiaries, GYP has 384,496 acres of exploration licenses and production areas in Turkey. The majority of the privileges of GYP, which is one of the largest concessionaires among companies operating in Turkey, are located in and near the Iraqi borders. 

NB. The 4 wells already drilled in the area produced for about 4 months before production ceased. The site was adjacent to E.Sadak.

From ALBA RNS today and DOR last 1/2 year report.

Alba Mineral Resources plc (AIM: ALBA) notes the announcement today by UK Oil & Gas Plc ("UKOG"), as majority shareholder of Horse Hill Developments Limited (the Operator of the Horse Hill Oil Project in the Weald Basin in southern England) in relation to the Horse Hill Oil Project in which Alba owns an 11.765% effective interest.

Doriemus currently owns 4% of Horse Hill Developments Limited (“HHDL”), which owns 65% of two Petroleum
Exploration and Development Licences (“PEDL”) PEDL137 and PEDL246 in the northern Weald Basin between Gatwick
Airport and London. The PEDL137 licence covers 99.29 km2 to the north of Gatwick Airport in Surrey and contains the
Horse Hill-1 (“HH-1”) discovery well. PEDL246 covers an area of 43.58 km2 and lies immediately adjacent and to the east
of PEDL137 which hosts the HH-1 oil discovery well located in PEDL137 in the UK’s onshore Weald Basin. This equates to
a 2.6% attributable interest in the licences. HHDL is the nominated operator (“Operator”) of the Horse Hill License.

Bring out the sponge!

https://news.sky.com/video/what-david-lenigas-chairman-of-ukog-told-sky-news-last-thursday-10364304

Perhaps we should ask him about the 3D seismic that he said UKOG had back in the day. He had to shut down his twitter account after that gaff.

Villagers launch court challenge over Balcombe oil test

Residents have submitted their legal case over an extended test at the Balcombe oil site in West Sussex.

Full story here;

https://drillordrop.com/2023/03/28/villagers-launch-court-challenge-over-balcombe-oil-test/

No mention of Sarah though.

so they can get cheap shares. Will be back to 0.058-0.06p before we know it.

" Horse Hill Farmout

UK Oil & Gas PLC (London AIM: UKOG) is delighted to announce that its subsidiaries UKOG (137/246) Ltd (UKOG 100% interest) and Horse Hill Developments Ltd ("HHDL", UKOG 77.9% interest) have executed a conditional binding term sheet" ...

HORSE HILL DEVELOPMENTS LTD
[08808553] UK OIL & GAS PLC 65%
UKOG (137/246) LTD
[06807023] UK OIL & GAS PLC 35%

And HHDL are the Operator.

https://itportal.nstauthority.co.uk/information/licence_reports/onshorebylicence.html

No mention of ALBA or DOR who also own part of HHDL.

Adrian or is it elle III?
Doesn't sat that anywhere in the RNS and you know it.

"Farmout Highlights:

· PPP to fund 100% of a new crestal infill production well, designated Horse Hill-3 ("HH-3"), to be spudded after the completion of a PPP 100% funded ~12 square km high-definition 3D seismic survey (the "Farmout Programme"), subject to an aggregate cap of £4.6 million."

is what is says.

Adrian or is it elle III?
" To fund Pennpetro's initial financial commitments into an existing UK onshore Farm-in which will be announced shortly."
Surely that probably just means the seismic

So much so PPP are down 34% today so far.

2 more. 5 in all.

UKOG
@UKOGlistedonAIM
·
2h
HORSE HILL LATEST: Assignment of Licences interest to PPP is subject to them providing the necessary funds to drill HH-3 and complete the Farmout Programme within six-months from the completion of the 3D seismic which is targeted for H2 2023. https://tinyurl.com/3t23pryb
UKOG
@UKOGlistedonAIM
·
2h
HORSE HILL UPDATE: UKOG and Horse Hill Developments will retain 100% ownership and rights to all oil production and revenues from Horse Hill-1. HHDL will remain as licences operator. https://tinyurl.com/3t23pryb
UKOG
@UKOGlistedonAIM
.

I wonder which part of the 99.3 km2 PEDL 137 licence area they will carry out the seismic survey especially when the RA says "acquire 40 km2 of 3D seismic"? Wonder what the NSTA will think of that?

Rubbish. What was actually said was;

"Farmout Highlights:
· PPP to fund 100% of a new crestal infill production well, designated Horse Hill-3 ("HH-3"), to be spudded after the completion of a PPP 100% funded ~12 square km high-definition 3D seismic survey (the "Farmout Programme"), subject to an aggregate cap of £4.6 million."