Member Info for Ibug

Turkey off the menu again this year. Can you afford a chicken?

https://www.youtube.com/watch?v=xnjcVvO40bg&ab_channel=Retrobox

I'm surprised SS didn't mention this new finding.

"Genel Energy has obtained heavy oil flow at rates ranging from 500 to 900 barrels per day from the well it drilled in the Sarta field in the Northern Iraq Kurdish Administration Region.
London-based oil company  Genel Energy announced that it has updated information about the work of Sarta PSC, the operator of the Sarta field in the Northern Iraq Kurdish Administration Region. Accordingly, the tests of the Sarta-6 valuation well, located six kilometers away from the Phase 1A pilot production area, have been completed. There was only water flow from the Lower Jurassic tests, while heavy oil flows at rates ranging from 500 to 900 barrels per day in the Middle Jurassic tests. 
“The longer-term development and monetization potential of these heavy oil resources will be considered as part of the joint venture's future Sarta field development outlook,” the statement said.
Genel Energy reached an agreement in January 2019 to acquire a 30% stake in the Sarta block, operated by US energy giant Chevron, in the Kurdistan Region of Iraq. Production started on the block in November 2020. In the block, Chevron owns 50% and the Kurdistan Regional Government has 20%. "

Yet another field nowhere near Resan/Basur but it sounds good.

Ocelot
What does SS mean when he says "Further proof of working petroleum system in under-explored area containing our licence"?

TPAO drilled 3 wells recently in the Licence area. They were either dry or water (the nearest). Not good news when the Premier O&G Company in Turkey gives up the licence.

Resan has 5 wells and Basur 4 wells not in production. Again dry or water.

It is not for lack of trying. The following fields/wells have also been drilled in the vicinity;

Yesilkonac
Yeni Kopru
Birini
Bukat
Gedikasar
Girdara
Hatma
Kedil
Kentalan
Tilan

And still not one in production out of over 30 wells. Believe SS all you want but the facts are against him imo.

Found it. Not on google maps and satellite coverage is weak, possible 2 pads. Not previously held by AME.

SEHIT ESMA ÇEVIK-1
Exploration
AR/TP0/K/N48-a1,3,4
37 ° 27 '17,39 ''
42 ° 5 ' 47,48 ''

Just hope it wasn't some of the Sirnak licences AME held previously.

Turkish Petroleum (TPAO)
Well, Mount Gabar, Sirnak, Southeast Türkiye
Sehit Esma Çevik-1 (SEÇ-1) Exploration Well in Mount Gabar Area, Sirnak, Southeast
Türkiye, drilled on 10 May 2021, has resulted in a discovery with 36 API oil. After the oil
discovery in SEÇ-1 Well, till mid-December 2022, 6 wells were drilled in the field, of which
5 are now producing 5.350 b/d oil in total, and 1 is expected to be in production shortly.
The cumulative oil production r eached 8 40.000 b arrels , while there are ongoing drilling
operations for 2 more wells.
After the generation of the geodynamic model of the SEÇ Field by the evaluation of the
geological and 3D seismic data sets; petrophysical studies of the producing zones have
been carried out to set up the reservoir models. The models are further approved by the
well data, tests and analysis. From the above mentioned evaluations, oil in place in the
field is determined as 250 million barrels, while the recoverable reserves are calculated
as 150 milion barrels oil. The reserves are being updated with the results upon the
completion of each well in the field.
In 2023, TPAO is planning to drill 12 more appraisal and production wells. The oil
production from the field is expected to reach 25.000 b/d by the the end of 2023.

37.520999, 42.449148

Google map co-ords for Sirnak

0.06p

TURKEY UPDATE: State-owned TPAO have announced significant oil discovery in Sehit Esma Çevik-1 well near Sirnak, 50km south of UKOG’s 50%-owned Basur-Resan block. Further proof of working petroleum system in under-explored area containing our licence

I should have guessed where it came from.

https://twitter.com/UKOGlistedonAIM/status/1603380669375299585

It's over 40 km to the SE past E Sadak. I wouldn't get too excited by it.

Amazing how many shares you can buy for £16k.

JustBe

Don't forget the AGM where there may have been some form of communication if it had gone ahead without interruption. But not many "real" investors turned up to express their views and put questions to the BoD.

No mention of HH in the interview. Not sure hope will help.

Bcarm
For once you are correct. This was the official version which does differ from the ones that UKOG have pushed out.

What the Turkish Oil Authority at the time said in 1965 Petrol Faaliyeti Petrol Dairesl Nesrlyati No. 10.

"In addition, although 44 tons of 35 API crude oil was obtained in the tests carried out in Basur-1 well, the tests were terminated because salt water came later.""

"UKOG is followed by many more investors than those who express their views on this board."

No ****. When you have over 21bn shares in issue you probably have thousands of investors. I very much doubt if 0.1% ever read this bb.

The nearest oil field producing in the vicinity of Resan/Basur is the E. Sadak field which is about 40km to the ESE. Field has been in production since 2014 and at the time of about 13 wells being in production it is quite easy to see the drop off shortly after each well being brought into production. Once settled production would appear to be about 30 bopd per well.

Production figures in barrels/month for East Sadak (M48-3-1)
The Turks use a . instead of the ,

Oct 20 12.172 36 bopd
Nov 20 10.241 31 bopd
Dec 20 11.487 34 bopd
Jan 21 10.661 31 bopd
Feb 21 9.482 31 bopd
Mar 21 10.499 31 bopd
Apr 21 10.160 31 bopd
May 21 11.681 EAST SADAK-13S Production Well put on production as of 24-05-2021 34 bopd
Jun 21 20.158 56 bopd
Jul 21 16.089 45 bopd
Aug 21 18.573 EAST SADAK-12S Production Well put on production as of 14-08-2021 50 bopd
Sep 21 15.739 40 bopd
EAST SADAK-14 Production Well put on production as of 30-10-2021

I very much doubt if the so called experts could argue with this positive outlook for the future. Just think what they could be producing in 8 years time if they find any oil.

elle
Is that the best you can do? Pretty childish isn't it? Must do better.
If you can't stand the heat get out of the oven. Plenty of room for more Turkeys that need basting.

And in 5 years I expect over 30bn shares to be in issue. It may even get to 24bn before the next AGM.

Nothing to do with drilling then

"63,000 REASONS WE STRUGGLE TO BUILD ANYTHING

[image]
The Dartford Crossing, as anybody who uses it regularly will agree, is
an arterial section of the seventh circle of hell. In order to
mitigate the torture it inflicts on those who depend on it, National
Highways, the agency charged with building big roads, wants to dig
another tunnel, known as the Lower Thames Crossing. In 2017 it
submitted a planning application. In 2020, the planning inspectorate
demanded more information, so the application was resubmitted.
According to the publication New Civil Engineer, it is now 63,000
pages long. The process has taken five and a half years and cost the
taxpayer £267 million. That’s just for starters: the inspectors
haven’t even begun their examination of the application.

The news this week that the government is"

from https://txtify.it/https://www.thetimes.co.uk/article/63-000-reasons-we-struggle-to-build-anything-3rmvcxgkc

MJFMSG
So you think a MCap of between 1,477m and 2,110m is possible on what?

HH is producing less than 60 bopd. If they had found an easy solution for Basur we would have heard about it by now. Even if they find oil in Turkey the decline rate in the analogue field is horrendous. The average was 40 bopd for the 13 producing wells. 2 had only been put into production in the previous few months.