Member Info for Ibug

PWWT is on site so it will probably be some sort of workover/pump replacement. Will have wait and see if they take anything out.

It is not the cranes you should be worried about.

ocelot
But it won't be anything until they get it off the ground. The Planning Application for the road junction or any of the other Applications that may have to go to committee could kill it all before it starts. Remember, it is SCC you are dealing with.

ocelot
And what difference is that going to make? Just means more than 1 party is going to be stuck in the mud for years to come.
It took them over 14 months to get the HH applications in and another year to get them all approved. There were only 7 conditions. And that is before they can even start.

Our ReferenceSCC Ref 2020/0018StatusConsultationApplication NumberSCC/HSC/2020/0001

District/BoroughReigate & Banstead Borough Council

Site AddressHorse Hill Well Site, Horse Hill, Hookwood, Horley, RH6 0RBView MapParishSalfords and Sidlow

Electoral DivisionHorley West, Salfords and SidlowProposalThe storage of crude oil in association with planning permission for retention of the wellsite and production of hydrocarbons.Easting525298.00Northing143599.00Date Received31/01/2020Date Valid12/02/2020Case OfficerDuncan EvansTelephone0208 541 9094Emailmwcd@surreycc.gov.uk

ocelot
What makes you think 2023 is going to be any good for UKOG and gas. As I said 2026 was down to about 130p a few days ago and I doubt we will be in a position then to produce gas.
HH planning has been in the system since 2020 and they are still 4months into the last change for delegated powers action.
They don't even have planning applications in for Loxley and they can't do anything until they have this one sorted. There are about another 10 conditions after that. And we all know how long it took to get the HH ones through.
"8) No operations associated with the well site compound shall take place unless and until the proposed access road within the site including its junction with High Loxley Road, any highway works at the junction of High Loxley Road and Dunsfold Road and any carriageway widening works on High Loxley Road between the site access and the junction of High Loxley Road and Dunsfold Road have been constructed in accordance with the scheme approved pursuant to condition 7(a). No other development shall begin before the junction works and the new access road within the site have been completed in accordance with the approved scheme."
You can prattle on to your hearts content but at the end of the day it means sweet FA.

TH2
You really don't know anything about oil exploration do you. They even put a picture on the opening page of the website showing how they drill the holes for the seismic survey.
Have you noticed how the 2 latest videos show the workers in different colour boiler suits from those carrying out the survey?
Are they just playing for time?

Aimopoly
Don't you mean 1/100th of a single figure?

You will notice there is no statement saying that it is a good indication of recoverable oil or indeed of any oil at depth. More smoke and mirrors from the BoD.
I wonder what excuse they will use for the next delay in drilling!
You can tell it is very light oil by the way the interface between the oil and water forms very quickly.

ocelot

Plenty to look for if you could be bovvered!

Basur Höyük paper , online in OG, have a free access till December 29 by using
our personnal Share link https://authors.elsevier.com/a/1W17XXLtlxey8

Oil seeps at Eruh

https://www.researchgate.net/figure/Location-of-archaeological-sites-and-oil-seeps-which-have-provided-samples-for-this-study_fig1_320957322

https://www.google.com/search?q=oil+seeps+siirt&sxsrf=ALiCzsYu0mxXLFOh6KQ0-HxDIDd5ZrCIfQ:1656849828800&tbm=isch&source=iu&ictx=1&vet=1&fir=bt0SZw991cunDM%252CVjXspCrIIWWwPM%252C_%253BClV89b6StP19zM%252C13hUCTv91O9tYM%252C_%253Bmbc3nBaH99xOcM%252CEeSbgI0d9p3w5M%252C_%253BtOYbiErMGtX-dM%252CVjXspCrIIWWwPM%252C_%253Bv1UcVHAJfrqssM%252CjFcacr4dTehk0M%252C_%253BqIvLu1TGbSNb1M%252C13hUCTv91O9tYM%252C_%253B-IEQs9ge3WfsSM%252C-bm56kQLy_DOqM%252C_%253BBHwYCl5BC-NI1M%252C13hUCTv91O9tYM%252C_%253B7XjeZincREZfhM%252C13hUCTv91O9tYM%252C_%253B3y6f7lCpSZtY8M%252CHP3OpfI_rz6OWM%252C_&usg=AI4_-kQwq1dFqd-O1I4G_Wq-JeGA2PsR5w&sa=X&ved=2ahUKEwjskvfL1tz4AhXMUMAKHbzeDzkQ9QF6BAgEEAE#imgrc=_UlyjIuq5kbjKM

Perhaps we should start calling this the "Emperors new gas". Then again that is probably totally inappropriate given the time scale involved in getting into production if they find any.

Mirasol
I don't think they even provide drilling services any more other than at East Sadak.

From company overview. "The company aims to expand in the near abroad. As a part of this process we will continue to add to our assets and infrastructure and hopefully, one day soon, take the step of becoming a publicly traded company."

With East Sadak, Resan/Basur and one failed bid they have failed to impress me when you see the amount of drilling going on in Turkey.

From their website; AMBITION & STRATEGY

"Thanks to a highly organized business structure and professional management, AME grew to become one of Turkey’s most prominent drilling and oil field service companies. Although AME no longer acts as a drilling contractor, we continue to believe that among our most valuable assets is our superbly qualified and highly motivated technical staff, with experience both in Turkey and abroad."

They obviously don't teach punctuation at playschool.

Production has stabilised over the last few months. But at what price does POO need to be for UKOG to start making a profit? imo you are probably looking at well over $200 a barrel, probably nearer $250.

Ever wondered why they haven't upped the production rate when an extra 3 bopd (over $10k a month) more than covers the cost of less than 1 tankers worth of water disposal.

If, as they have said, HH-1 and HH-2Z are connected why are they not proceeding with the injector well?
HH-2 only got 1 mention in the 2021 Annual report and no mention in the last interim so not too difficult what is not going to happen any time soon.

Ruth has done her monthly update on March figures.

https://drillordrop.com/2022/07/01/latest-uk-onshore-oil-production-data-march-2022/

I do hope "Lead A" is not "Prospect A". Both the wells drilled there in the last decade along with Konakli-1 have either been dust or water.

copy this into google maps 37.98956896073865, 41.85511776826998 and you will see 1 of them.

Very good post from yesyerday imo. Had me thinking.

reecey007

Posts: 153

Price: 0.115

No Opinion

RE: Shares in issueThu 17:06
This is what we have to show for it 16.3 B shares in Circa; for perspective if shares price £1 ..assets theoretically would need to be £16 Billion (B) ..50p £8B ..25p £4B...12.5p £2B....6p..£1BN.... quite simply they have destroyed any shareholder value ...if the company suddenly gets valued at £500,000,000 ...share price would be 3p !!!!

Should have taken it a bit further though.

With a possible 24bn shares within the next year to get a SP of;

1p the company would have to be worth £240m
2p the company would have to be worth £480m
3p the company would have to be worth £720m

Where are we going to get valuations like that from?

oops. Just getting used to windows 11. Too many windows open!

Add on 9 bopd from Horndean which is now supplying about 15% of our income.