Member Info for Ibug

Good luck with that. They haven't even raised another 1000 names to the petition in the last 2 months. Still stuck below 17,000 names.

bp will evaluate the impact of the new tax announced by the British government and the proposed tax incentives on investment plans for the North Sea.
UK-based energy company bp will review its investment plans for the UK after the government's plan to levy 25% tax on profits.
bp Plc has decided to review its investment plans for the UK, following the British government's plan to levy a 25% tax on the profits of oil and gas companies. bp previously announced that it plans to invest GBP 18 billion in the UK by 2030.  
Making a written statement after the British government's tax decision, bp said, "This is not a one-time tax, it is a decision that is recommended to continue for multiple years. We need to look at the impact of this new tax and the proposed tax incentives on investment plans for the North Sea." 
UK Finance Minister Rishi Sunak announced that they will implement the "Targeted and temporary Energy Profit Tax" for companies that make very high profits with rising energy prices to support their citizens who have difficulty paying their energy bills. and natural gas companies noted that a 25% tax will be applied.

Is that after reading this

""UK Oil & Gas Investments PLC (London AIM: UKOG) announces that it has been informed by Kimmeridge Oil & Gas Limited ("KOGL"), that the Oil and Gas Authority ("OGA") has extended the licence term of its 100% owned PEDL234 licence ("Licence") from 30 June 2018 until 31 December 2023. KOGL is a wholly owned subsidiary of UKOG.""

some could question the authenticity of it. It is clearly written by UKOG and is in the form of an official announcement. It really does beggar belief.

UKOG RNS

wizard
So when it says "DrillOrDrop has learned that a licence held by UK Oil & Gas (UKOG) in West Sussex and Surrey moved into the final or production term on 1 July 2019." you believed it. There is no evidence from UKOG around that time to indicate it is true. Perhaps you would care to show the real evidence that you and DoD are correct in your assumptions. They are still waiting to drill another sidetrack at BB so as far as I am concerned that period of the licence has not been completed.
Do you believe what UKOG have said or what DoD have said. That is the question. I know where my money lies.

wizard
Hasn't reached it yet.
"UK Oil & Gas Investments PLC (London AIM: UKOG) announces that it has been informed by Kimmeridge Oil & Gas Limited ("KOGL"), that the Oil and Gas Authority ("OGA") has extended the licence term of its 100% owned PEDL234 licence ("Licence") from 30 June 2018 until 31 December 2023. KOGL is a wholly owned subsidiary of UKOG."

If East Sadak-1 is anything to go by they completed the well and started production on the same day.

wizard
I have just checked and PEDL234 does not have a production licence for oil either.
Boy, are the stories coming out today. Guess it is the price one has to pay for oil and gas in the UK.

wizard
How about having to go back to SCC and NSTA to get planning permission to produce the gas and the EA for permits.
Why is it you all want to run before you can even walk?

TH2
You really astound me. How the hell can you say "They could monetise Loxley in months once approved." when UKOG say
Access and Well Site Construction 14 weeks
Phase 2 Drilling, Testing and Appraisal 59 weeks
Well Plugging, Abandonment and Decommissioning Phase 3 - 5 weeks

which is nearly 1 1/2 years or 3 years in UKOG speak.
Dream on sunshine. Your posts still make us laugh.

You must have "Exploration" on filter so this is worth posting again for you to read.

"Exploration

Posts: 1,271

Price: 0.125

No Opinion

RE: Loxley = potential company-makerThu 07:56
Penguins

I agree there is no such thing as the ‘Loxley Field’ - but in the UKOG fantasy world, let’s pretend it does exist and look to the future.

Gas producers in UK must sign up to the ‘Network Code’ and specify quality of the gas, daily and annual quantities entering the transport system and so on. See this link for details; www.gasgovernance.co.uk

In the unlikely event gas is discovered in commercial quantities at Loxley, its not just a matter of ‘plugging in’ to a nearby NTS pipeline, but rather just a start to a long process to qualify as a gas producer.

It’s inconceivable that UKOG could qualify in a five to ten year period taking into account the need for appraisal and requirement for finance.

ReplyRecommend (4)Report Post"

vernon
Instead of looking stupid every time you post on this subject why don't you just look here and work it out for yourself who is right and who is wrong. So far you have always been incorrect despite being told so.

https://www.ukogplc.com/page.php?pID=82

I never trusted David Anthony Lenigas after I met him back in 2014 and certainly would never have trusted Jonathan Eldred Wilhelmus Tidswell-Pretorius, the instigator.

They are probably still looking for the long weight SS sent them to find.

In the whole of SS submission at the appeal SS only once does it say "Loxley gas field development" otherwise it is only "gas field development", "field production" or "field".

No doubt the locals will find a way to take it to court. Plenty from those living at HH to advise them even if Finch has moved. Devon?

But that was before the "76 bcf and 54 bcf" £50k version came out.

part 2

The dataset available, therefore, gives significant uncertainty in the assessment of in place volumes, the
main issues are:
> The Alfold-1 well reportedly penetrates the reservoir at a shallower depth than the discovery well but
is calculated to have no gas pay only some likely residual oil shows
> As mapped Alfold-1 is on structure and above the contact
> The precise location of Alfold-1 and its penetration of the Portland is unknown
> The structure does not close at the depth of the contact to the north east
To account for these uncertainties Xodus considered a number of possible scenarios. In all scenarios there
was gas bearing reservoir on PEDL234 however, more data is required to properly estimate the in place
volumes. Recoverable volumes were not estimated at this time due to the inherent uncertainties. Xodus
believes that a further modern appraisal well and extended test is required to narrow the current
uncertainties and enable a better estimation of potential recoverable resources to be undertaken.
Previous CPRs for IGas, the operator of PEDL235, have calculated estimates of Contingent Resource of
between 5 and 10 bcf net to IGas. There is no comment on the discovery extending into PEDL234 and
maps are cut off at the licence boundary.
UKOG has informed Xodus that they have plans to drill a well to appraise and test the Portland gas reservoir
and underlying Kimmeridge Limestones in the Godley Bridge structure from a location in the PEDL234
licence. A lease on the site has been finalised, planning permission work is under way and the well is
planned for 2019 subject to the necessary grant of regulatory permissions and availability of funds.

I wonder who wrote this? Part 1

Godley Bridge is a discovery in PEDL235, which is the neighbouring licence to the west of PEDL234. A
recent review by Xodus of the interpretation of wells and seismic shows that there is potential that the
Godley Bridge discovery extends into PEDL234.
The Godley Bridge gas field was discovered in 1982 by Conoco with the well Godley Bridge-1, which tested
gas and a small amount of condensate from Upper Jurassic Portland Sandstones. The trap of the Godley
Bridge structure is a broad east-west trending anticline of Tertiary age. There have been two further wells on
the structure neither of which encountered hydrocarbon bearing reservoir.
Godley Bridge-2 and 2z were drilled to the west of Godley Bridge-1, both failed to find hydrocarbon bearing
sands. The top Portland was encountered deep to prognosis and below the GWC as seen in Godley Bridge-
1. The well penetrated 314ft of gross Portland reservoir.
Alfold-1 was drilled in PEDL234 and penetrated a 211 ft gross Portland sand interval with the top of the
reservoir 1 ft shallower than Godley Bridge-1. The well reported oil shows in the Upper and Middle Portland
zones and weak gas shows. A water wet zone was calculated from electric logs. There is no deviation
survey available for Alfold-1 and the location of the well on entering the reservoir is uncertain, however it is
apparent that a directional survey was conducted and the final well report lists formation tops with depths.
Although the depth of the Portland in the well is known, the XY location is not. The depth and the shape of
the structure as mapped from seismic would suggest penetration of the reservoir above the contact however
no hydrocarbons were seen, only oil shows.
The structure is covered by only sparse 2D seismic data from which the shape of the discovery is defined but
the maps do not close in the north east at the depth of the GWC defined in Godley Bridge-1. Figure 11.2
shows a map of the top Purbeck Anhydrite marker bed showing the structure of the discovery.

And you try and tell the young people of today that ... they won't believe you

https://www.youtube.com/watch?v=VKHFZBUTA4k

last 10 seconds