Member Info for Ibug

Only a few posts of mine deleted yesterday. It is becoming a common theme. Why would anyone delete the price of Brent? Now down to $77. When you are producing less than 60 bopd it doesn't make much difference.

https://www.livecharts.co.uk/MarketCharts/brent.php

I can understand this being deleted.

"From AME Annual report;

"Basur- 3 well over the Resan exploration licence (where AME is operator and has a 50%
working interest) was spudded on 26 June 2021. BS-3 is located within the north-western structural culmination of the 60 km² Basur-Resan anticlinal structure, with a surface location approximately 1.2 km north of the 1964 Basur-1 oil discovery well and the surrounding 305 km² Resan M47-b1, b2 licence.

Basur-3 was designed to be a directionally drilled well, targeting the heavy oil (API 25) Garzan layer found locally at 1,500 meters and the lighter oil (API 35) prone Mardin layer at 1,800 meters. The lower zone was reached by the end of July, but the drilling target chosen was found to be down dip of the structure due to problems interpretating the legacy seismic and the objective of penetrating and testing the structure was not achieved.

A side-track was considered but since the JV was already moving forward with a 2D seismic program over the licence, it was decided to wait on those results before deciding the next steps on Basur-3. This could be a mechanical side-track or a new well from the same drilling pad but with a different design or a completely new well from a separate location. The 2D seismic campaign commenced December 2021 with processed data of the first 3 lines covering the BS-3 location being available from March 2022. The data is being processed and a re-entry or new well is expected to commence in April.""

UKOG Annual Review and Accounts for the year ended 30 September 2021

"Construction of the drilling pad and access road for the Basur-3 ("B-3") appraisal well began in March 2021 and was completed in May. The Turkish Energy Ministry approved drilling of B-3 in April and well was spudded on 26th June. The directional drilling assembly became stuck in the 12¼" hole section whilst pulling out of hole. The rig performed a successful recovery or 'fishing' operation to free the drilling assembly and return it safely back to surface. The incident occurred after the well had made good progress, reaching a drilled depth immediately above the Garzan and Mardin target objectives, which remain untested."

2 different accounts of the same event.

It would appear that Ocelot has a note in his Calendar to post about carp every week. And every week Santa ignores him.
No money for HH injector.
No interest in Loxley for obvious reasons.
You would think they would have learnt their lesson after previous results in the licence and surrounding area and at E Sadak.
Portland is way off the radar. Even the Hubble won't pick that up.

https://www.livecharts.co.uk/MarketCharts/brent.php

Keep counting those tankers.

Must be hell being the FOD plodder.

I'm quite surprised our Eastern expert hasn't been ramping this;

"Our current strategy is to increase our oil production substantially from our new discoveries, proving the recoverable reserves to international industry standards and to the satisfaction of financial institutions allowing for a possible IPO at the London Stock Exchange."

AME have been saying it every year since 2018. Just wondering if UKOG were supposed to be the big catch and billboard and it has failed to materialise.

JustBe
You could always open a demo account here and play at it. You even get 2 choices. You would then become another fantasy trader like the ones that post on here already.

https://www.ig.com/uk/spread-betting

https://www.ig.com/uk/cfd-trading

Ocelot
You shouldn't believe all you read. AME have been saying the same thing for years but in reality their fortunes have been on the wane so much so that if you check the PETFORM conferences none of the AME hierarchy even appear at some of them. It is a bit like comparing UKOG to Perenco. Production in 2018 was over 500k bbls a year but has dropped to under 225k bbls a year. You can check the stats quite easily in the Annual PETFORM reports. One is due out in the next months.

"Angus Energy has said it wanted to bring liquid waste from its oil site at Lidsey in West Sussex and other sites in the Weald Basin."

Given that HH and Brockham are the only 2 sites in the Weald producing oil from the same Portland formation it would make sense for UKOG to transport its waste to Brockham in the short term once PP and the necessary approvals have been granted.

https://drillordrop.com/2022/12/05/consent-for-importing-radioactive-waste-for-disposal-at-brockham/

Production from the Horse Hill site, in Surrey, fell more than 7% in September 2022, compared with the month before (266m3, down from 287m3).
September 2022’s volume was down 77% on the highest recorded production from the site, at 1160m3 in April 2020.
Daily production was also down in September, from 58.2bopd in August 2022, to 55.8bopd.

https://drillordrop.com/2022/12/05/latest-onshore-oil-production-september-2022/

05-Dec-22 08:13:36 0.0633 36,413 Buy* 0.062 0.064 23.05 O
05-Dec-22 08:06:37 0.062 265,000 Sell* 0.062 0.064 164.30 O
05-Dec-22 08:05:50 0.0635 800 Buy* 0.062 0.064 0.51 O

1st 3 trades of the day. The last of the big spenders in the fantasy league has joined us as well. Why is it all fly by nights can't spell and have no idea of how to write Englis?

I wonder how many copies he will get as a secret Santa present?

"Aladdin's Magic Carpet"

Don't they call that chicken. Just like last year but only worse. Must be hard on the OAP's and retired on here who have invested their pensions only to see it disappearing. Just remember who mugged you off in the first place and not the bearers of bad news.

Reporting Period Month Name September 56 bopd
Not the $ that some were predicting
Increase in water produced

Oil Production Mass (tonnes) 225.00
Oil Production Volume (m3) 266.00
Oil Production volume (mb/d) 0.06
Oil production density (Kg/m3) 846.00

Associated gas production mass (tonnes) 6.07
Associated Gas Production Volume (MMscf/d) 0.01
Associated Gas Production Volume (ksm3) 7.00
Associated Gas Production density (kg/sm3) 0.89

Gas Flared - Volume (Ksm3) 7.00
Gas Flared - Density (Kg/sm3) 0.89
Gas Flared - Non Hydrocarbon (%) 4.50

Water production volume (ksm3) 185.00
Water production volume (mb/d) 0.04

Reporting Period Month Name August 58 bopd
Not the 100bopd some were predicting.

Oil Production Mass (tonnes) 242.80
Oil Production Volume (m3) 287.00
Oil Production volume (mb/d) 0.06
Oil production density (Kg/m3) 846.00

Associated gas production mass (tonnes) 5.42
Associated Gas Production Volume (MMscf/d) 0.01
Associated Gas Production Volume (ksm3) 6.00
Associated Gas Production density (kg/sm3) 0.89

Gas Flared - Volume (Ksm3) 6.00
Gas Flared - Density (Kg/sm3) 0.89
Gas Flared - Non Hydrocarbon (%) 4.50

Water production volume (ksm3) 143.00
Water production volume (mb/d) 0.03

oops

Just realised I ran out of characters.

Receipts for September $90.16 x 56 x 30 = $150,850
Receipts for August $98.60 x 58 x 31 = $177,283
Receipts for July $108.92 x 6 x 30 = $19,890
Receipts for June $120.08 x 54 x 30 = $193,358
Receipts for May $112.37x 50.5 x 31 = $175,995
Receipts for April $105.78 x 54.5 x 30 = $172,993
Receipts for March $115.59 x 61 x 31 = $218,581
Receipts for February $95.76 x 59 x 28 = $158,195
Receipts for January $85.53 x 60 x 31 = $159,086
Receipts for December $74.31 x 62 x 31 = $142,824

November average POO will be in the region of $91/92

Reporting Period Month Name September 56 bopd

Oil Production Mass (tonnes) 225.00
Oil Production Volume (m3) 266.00
Oil Production volume (mb/d) 0.06
Oil production density (Kg/m3) 846.00

Dry gas production mass (tonnes) 0.00
Dry gas production volume (ksm3) 0.00
Dry Gas Production volume (MMscf/d) 0.00
Dry Gas Production Density (kg/sm3) 0.00

Associated gas production mass (tonnes) 6.07
Associated Gas Production Volume (MMscf/d) 0.01
Associated Gas Production Volume (ksm3) 7.00
Associated Gas Production density (kg/sm3) 0.89

Gas Flared - Volume (Ksm3) 7.00
Gas Flared - Density (Kg/sm3) 0.89
Gas Flared - Non Hydrocarbon (%) 4.50

Water production volume (ksm3) 185.00
Water production volume (mb/d) 0.04
Reinjected produced water volume (m3) 0.00

Reporting Period Month Name August 58 bopd
Not the 100bopd some were predicting.

Oil Production Mass (tonnes) 242.80
Oil Production Volume (m3) 287.00
Oil Production volume (mb/d) 0.06
Oil production density (Kg/m3) 846.00

Associated gas production mass (tonnes) 5.42
Associated Gas Production Volume (MMscf/d) 0.01
Associated Gas Production Volume (ksm3) 6.00
Associated Gas Production density (kg/sm3) 0.89

Gas Flared - Volume (Ksm3) 6.00
Gas Flared - Density (Kg/sm3) 0.89
Gas Flared - Non Hydrocarbon (%) 4.50

Water production volume (ksm3) 143.00
Water production volume (mb/d) 0.03

Reporting Period Month Name July 6 bopd

Oil Production Mass (tonnes) 25.40
Oil Production Volume (m3) 30.00
Oil Production volume (mb/d) 0.01
Oil production density (Kg/m3) 846.00

Associated gas production mass (tonnes) 0.66
Associated Gas Production Volume (MMscf/d) 0.00
Associated Gas Production Volume (ksm3) 1.00
Associated Gas Production density (kg/sm3) 0.89

Gas Flared - Volume (Ksm3) 1.00
Gas Flared - Density (Kg/sm3) 0.89
Gas Flared - Non Hydrocarbon (%) 4.50

Water production volume (ksm3) 14.00
Water production volume (mb/d) 0.00
Reinjected produced water volume (m3) 0.00

Reporting Period Month Name June 54 bopd

Oil Production Mass (tonnes) 216.60
Oil Production Volume (m3) 256.00
Oil Production volume (mb/d) 0.05
Oil production density (Kg/m3) 846.00

Associated gas production mass (tonnes) 7.88
Associated Gas Production Volume (MMscf/d) 0.01
Associated Gas Production Volume (ksm3) 7.00
Associated Gas Production density (kg/sm3) 1.07

Gas Flared - Volume (Ksm3) 7.00
Gas Flared - Density (Kg/sm3) 1.07
Gas Flared - Non Hydrocarbon (%) 4.50

Water production volume (ksm3) 157.00
Water production volume (mb/d) 0.03
Reinjected produced water volume (m3) 0.00

Month bopd
May 21 100
Jun 21 95
Jul 21 92
Aug 21 82
Sep 21 45 (2 week production facility upgrade)
Oct 21 63
Nov 21 60
Dec 21 62
Jan 22 60
Feb 22 59
Mar 22 61
Apr 22 55
May 22 50
Jun 22 54
Jul 22 6 downhole pump and polished rod installed
Aug 22 58 new Unico pump has recently been installed
Sep 22 56

Receipts for September $90.16 x 56 x 30

When you are only producing less then 60 bopd it doesn't really matter that much what the price of Brent is. The company will always have to place to keep the lights on at those prices. It is just the amount of the placing and the number of shares in issue that keeps killing the SP. The Financial Reports don't lie.

Come back in 4 years if Portland is still on. My money is on it's not but money could be made on the back o the mug punters.

But it's only worth about £40k. Whoopee F.

SS managed to average down to 0.1p in his 12 months of trading. He's not the only loser on here.

and it is only 7 month since "Environment Agency grants full Horse Hill Production Permit". You really must give them a chance to raise some money to gets things done.