Member Info for Ibug

Gilders01
Where I live we produce our own and I very much doubt if we would ever deal with Russia after throwing many of their citizens out many years ago. Are you Indian/Chinese? They have no problems dealing with Russia.

But geothermal is a lot cheaper in Turkey

6 geothermal exploration licenses will be issued in Nigde
Three-year exploration licenses will be issued for 6 geothermal resource fields in Nigde. 

Energy Journal - Three-year exploration licenses will be issued for 6 geothermal resource fields in Nigde. 
Nigde Special Provincial Administration, Provincial Committee Presidency will hold a tender with an open bid method in order to grant 3-year exploration licenses for 6 geothermal resource fields within the borders of the Central district. 
The tenders were made by the Nigde Provincial Committee on 08 June 2022, at 11:00; It will start at the address of Yukari Kayabasi Mahallesi, Saglik Caddesi, Old Courthouse, Provincial Special Administration, Provincial General Assembly Building, Nigde and will be held one after the other at short intervals. 
Tender documents, within working hours, Nigde Special Provincial Administration, License and Inspection Directorate, Adana Road, 2nd Km, Special Provincial Administration Service Building, Nigde or Nigde Special Provincial Administration, Committee Directorate, Yukari Kayabasi Mahallesi, Saglik Caddesi, Old Courthouse. In addition, the Special Provincial Administration Service Building can be seen at Nigde addresses free of charge and can be obtained from these addresses for 500 TL. 
Bidders shall submit their bids to the Provincial Committee on the day of the tender at the latest, until the time of the tender. 
The district, location, surface area, appraised value and provisional guarantees of the lands subject to the tender to be licensed are listed as follows. 
GEOTHERMAL RESOURCE SEARCH AREAS TO BE AUCTIONED Location: Güllüce  Area: 4.946,45ha Estimated value: 2.000.000 TL Bid guarantee: 6.000 TL
Location: Pinarcik Area: 4.990,53ha Estimated value: 2.000.000 TL Bid guarantee: 6.000 TL
Location: Ovacik Area: 4.947.58ha Estimated value: 2.000.000 TL Bid guarantee: 6.000 TL
Location: Inli  Area: 4.897,19ha Estimated value: 2.000.000 TL Bid guarantee: 6.000 TL
Location: Baglama-1  Area: 4.318.59ha Estimated value: 1.600.000 TL Bid guarantee: 4.800 TL
Location: Baglama-2  Area: 4.869.88ha Estimated value: 2.000.000 TL Bid guarantee: 6.000 TL.

There are only about 8000 homes between the 3 main villages within 10km radius of BB. Horsham is the nearest town and that only has about 8000 homes itself. The deep well versions of geothermal are about £20m and I can't see UKOG being able to raise that without a decent CPR. Ye another of Stevie's pipedreams imo. Amazing how some still believe in him.

eskibeatbeater
Plenty of news about drilling in Turkey which is in English. AME, TPAO and other companies all do English versions now. How do you think we know so much about what is going on that UKOG do not tell us?

https://www.facebook.com/AladdinMiddleEastLtd updated less than UKOK do
https://www.petform.org.tr/en/
https://www.tpao.gov.tr/
https://www.facebook.com/watch/oceanmecenergy/ drilled Basur-3

Hasn't the gas been hedged for at least another 3 years?

ocelot
I should have gone to specsavers. Could have sworn it was the 7th June 2022 thread but obviously got that wrong as it was two of them I was replying to. Not that it matters now.

ocelot
So why did they leave 8 posts in the thread then? Could it have been those that reported me? I doubt it but at least 2 of them did and I don't mean you Pingu or cinders.

I obviously hit a nerve with these 2 posts or is it just because it is me?

Ibug
Posts: 5,710
Price: 0.1225
No Opinion

RE: 7th JulyToday 09:05
I would imagine they would get the site and road built on the cheap but with inflation what it is how much extra is it going to cost. With the cost of the drill they need to get an AGM completed as I don't think they have much left in the kitty to do a placing to cover it all.

Ibug
Posts: 5,710
Price: 0.1225
No Opinion

RE: 7th JulyToday 08:51
The amount of gas they expect to produce is even less than you think. It is only 0.006% of all UK produced gas so hardly of national significance. It is however slightly better than the % of UK oil produced.

Not exactly rocket science to work out who had reason to report me. Boys, does the truth really hurt you that much?

Poundland must open at 9am.

Stevehoops
And what will UKOG do for the UK apart from keeping a number of people in work?
What income over and above what they are making now will UKOG generate in the next 2 years?

SS has said lots of things but very few have come to fruition. So far they are producing 60 bopd from HH when he was forecasting over 400 bopd. Even with his decline forecast of between 60 and 70% in the first year that has failed miserably.

Sounds to me that whoever was interested in Saltfleetby have done their due diligence like the other 4 interested parties. You don't look gift horses in the mouth and say no do you? How far do you have to go to polish a turd?

By the time UKOG get to produce any more oil and gas it'll probably all be over and for what?
How much oil and gas, over and above what it is producing now, is UKOG going to add to the dwindling onshore production in the next 2 years? imo none.
I do love the rose tinted spectacles and the smelling of the roses.
At least Ninetails has had the common sense to do what he is doing unlike the moaning Minnie's still living in the past and crying over spilt milk.

You only need to look at all the videos made in 2016 after the initial flow test to realise why so many were mugged. You can tell the ones that are twitter and bisted and still here.
When did SS last do an interview? Must be over a year ago. I wonder why.

I think we all know he said it in 2017 as it was being likened to one of the biggest gaffs made by a Chairman of a company. They were even mentioning it as the same level as Gerald Ratner's remarks about his jewellery.

https://www.youtube.com/watch?v=V1_stpqkU7w

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

Apart from "As a minimum, reduce UKCS upstream greenhouse gas emissions by 50% by 2030*
10% by 2025, 25% by 2027 (includes all greenhouse gases emitted from offshore production facilities, onshore terminals, drilling rigs and associated logistics)" in the 5 year corporate plan they only said " Identify credible onshore proposals for well repurposing with adequate provision for ultimate abandonment liabilities"

Perhaps some posts on here should start with the following statements as amended.

"This announcement contains 'forward-looking statements' concerning the Company that are subject to risks and uncertainties. Generally, the words 'will', 'may', 'should', 'continue', 'believes', 'targets', 'plans', 'expects', 'aims', 'intends', 'anticipates' or similar expressions or negatives thereof identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely. The Company cannot give any assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this announcement. The Company does not undertake any obligation to update or revise publicly any of the forward-looking statements set out herein, whether as a result of new information, future events or otherwise, except to the extent legally required.
Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of the Company."

I don't think he mentioned the Bahamas in those speeches. Was that because he was talking in front of the legal profession and a Govt. Inspector?

And yet that complete work of fiction fails to make the company website which has this to say;

"Loxley, Broadford Bridge, PEDL234 (UKOG 100%)
In April 2019 UKOG submitted a planning application for drilling of the Loxley-1 well, which is intended to appraise the potentially significant Godley Bridge Portland gas discovery, located in the northwest of the licence. Post period, in October 2019, a Loxley permit application was submitted to EA. The primary objective is to drill, core and test the centre or “crest” of the Portland gas accumulation. If the initial test is successful, we will drill and test a horizontal sidetrack, Loxley-1z, within the Portland and carry out an EWT to establish commercial viability. Post period, in November 2019, UKOG submitted a planning application to extend the existing Broadford Bridge planning approval by 24 months to March 2022. Also post period, OGA approved an amendment to the PEDL234 Retention Area work programme, wherein Loxley-1 is to be drilled by December 2021."

Even the CPR fails to impress. How many times have we seen companies pay someone to produce a report which is carefully worded in case it all goes to rats. Caveat emptor springs to mind.

But they are only going to flare Loxley for 7 days. Won't be that much gas. More gas will be generated on here imo.

Loxley flare; Initial flow testing is expected to be undertaken for a total duration of 7 days with the use of 2 x shrouded flares running each at a rate of 2.2mmscfd. Therefore, the total volume of incinerated gas within the IFT is expected to be 30.8mmscf.

Spec for HH flares says it all. HH Burner capacity: nom. 500kWth, min. 100 kWth