Member Info for Ibug

52 Week Low 0.0925
52 Week Low Date 14-Feb-2022

HH-1 Kimmeridge from my notes.
1 Oct 19
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that following this morning's arrival of a small workover rig, planned routine intervention operations at its 85.635% owned Horse Hill-1 well have now commenced. The short intervention seeks to further optimise oil flow via reperforating the full Portland oil producing section, insertion of a new simplified production tubing string and by setting the downhole pump at a deeper level to increase pumping efficiency.
5 Nov 19
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that surface-based intervention operations at its 85.635% owned Horse Hill-1("HH-1") well have now has been completed. The well has now been shut in for a long term pressure build up test ("PBU"), designed to provide data necessary to understand whether the Portland reperforation programme has achieved the desired optimisation of well inflow performance.
As previously announced on October 1st, the intervention's objective was to optimise oil flow by reperforating the full Portland oil producing section, inserting a new production tubing string and thus enabling the downhole pump to be placed at a deeper level. Originally the intervention was planned for April/May but, due to the COVID-19 lockdowns in both the UK and USA, a further unforeseen 6-month delay was introduced. Further updates will be reported when the PBU data has been fully analysed and interpreted.
The HH-1 intervention and other related activities are part of normal oil well optimisation. By their very nature, these operations and the continual need to optimise pump performance, can result in considerable down time i.e. periods of no production as such monthly or annual production figures may not fully reflect the long term flow rates of the well.
28 Jan 20 Kimmeridge shut in for PBU test. What happened between test and 9 Mar?
9 Mar 20 Port and Kimmeridge shut in for 10 days
13 Mar 20 Kimmeridge production planned for late spring
1 Oct 20 Routine intervention. Did reperforation, inserting a new production tubing string or placing the downhole pump at a deeper level affect anything? Kimmeridge perforations isolated.
15 Jan 21 .... further development of the Kimmeridge oil pool also remains a significant objective for the Company. Consequently, plans have now been made for an infill well to determine the lateral extent of the Kimmeridge oil pool, proven by HH-1 to lie within a natural fracture system of significant vertical extent.
The Kimmeridge HH-4 well, also situated updip of both HH-1 and HH-2z, is likely to be a highly inclined or "slant" well, designed with a lateral orientation approximately orthogonal to the known regional open natural fracture direction, so as to maximise the number of open fractures penetrated.
It is expected that the further HH-3 and HH-4 wells will be planned in detail and drilled at Horse Hill following the completion of the Company's Turkey Basur-Resan appraisal dri

More than three-quarters of people want a windfall tax on fossil fuel companies, according to a national survey published today.

Doesn't interest me but read about it here:

Https://drillordrop.com/2022/02/14/mass-support-for-windfall-tax-on-oil-and-gas-companies/

But will they have the production to match it?

Should read Nov 21 $70.68 for POO Av. but imo receipts for next Annual Report will not be what some of you expect. £1.5m is a round figure imo.

HH1AN2

Need to up the production for it to make any difference.

month bopd Receipts Av POO in $

Mar 20 181 $185051 32.98
Apr 20 243 $170149 23.34
May 20 183 $175976 31.02
Jun 20 158 $189268 39.93
Jul 20 122 $161907 42.81
Aug 20 128 $175624 44.26
Sep 20 93 $114641 41.09

Oct 20 47 $58965 40.47
Nov 20 101 $130987 43.23
Dec 20 82 $126769 49.87
Jan 21 102 $172487 54.55
Feb 21 99 $177887 61.96
Mar 21 105 $212195 65.19
Apr 21 101 $196253 64.77
May 21 100 $210924 68.04
Jun 21 95 $208249 73.07
Jul 21 92 $212160 74.39
Aug 21 82 $178002 70.02
Sep 21 45 $100710 74.60

Oct 21 63 $163368 72.09
Nov 21 70.68
Dec 21 $74 + ?

Luckily December Av. POO should be about $74 with a further rise in the January average.

Mirasol
So you didn't read any of the links and plead ignorance about all things UKOG. You don't know because you don't care which gives you the oportunity to talk ****e and get away with it. Perhaps you should take a loss while you still can.

A good place to start.

https://www.lse.co.uk/rns/UKOG/operational-update-u2v8sz3dr8mcxy8.html

squeeze
https://www.lse.co.uk/rns/UKOG/operational-update-yjnksevoucv5siu.html
https://www.lse.co.uk/rns/UKOG/operational-update-c8ahe3lsclopisy.html

but it never happened

https://www.lse.co.uk/rns/UKOG/update-broadford-bridge-1-nvs9hu3768dnxzt.html

and that was it

https://www.lse.co.uk/rns/UKOG/update-broadford-bridge-1-rtcx6ei9jt6x0yn.html

We conclude that the most important technical goals of the drilling, coring and flow testing programme were achieved, namely: further proof of the KL “geological concept”, the determination of the deposit’s lateral extent and the presence of a regional scale open natural-fracture network capable of flowing oil to surface from the KL without reservoir stimulation.

https://www.ukogplc.com/page.php?pID=115#:~:text=We%20conclude%20that%20the%20most,capable%20of%20flowing%20oil%20to

Plenty of time. Next AGM in April imo. How much will they go for this year? Maximum aggregate nominal amount of £1m?

Don't worry. We still have all the other hairbrained schemes to make money to go. It will be cannabis next. You just need to know the playbook.

Having been born and brought up within an area containing a multitude of stone quarries and factories/workshops within a small radius the biggest noise was the hooter announcing the lunch break and end of the working day. They kept many families in employment for years and even with technological advancements still do although the hooter went out of fashion many moons ago.

It will make up for the slump in December.

" In December 2021, the average price of one barrel of Brent crude oil was 74.17 U.S. dollars. This was a decrease of seven U.S. dollars compared to the previous month and the result of concerns over rising coronavirus infections following the emergence of the Omicron variant. The October 2021 price was the highest monthly average since 2014. Brent is the world's leading price benchmark for Atlantic basin crude oils. It is used to price two thirds of the internationally traded crude oil supplies and it also the most significant crude oil benchmark for Europe. Brent crudes originate in the North Sea and include oils from Brent and Forties Oil Field in the United Kingdom, and from the Oseborg and Ekofisk oil fields, both oil reserves in Norway."

Mirasol
It does help if you can remember what was said not long ago.
" to enter into a joint venture agreement to develop part of the Company's Horse Hill site into a geothermal energy hub"
"six new deep geothermal boreholes" won't be cheap. "The average geothermal gradient in the UK is 26 °C per km depth" so 2-3 km deep imo.

Southampton District Heating Scheme
Main article: Southampton District Energy Scheme
In the 1980s, the United Kingdom Department of Energy undertook a research and development programme to examine the potential of geothermal aquifers in the UK. However, after some initial success drilling a well in the Wessex Basin in 1981, it was deemed too small to be commercially viable. The project was abandoned by the Department of Energy, but Southampton City Council refused to let the project fall and took the decision to create the UK's first geothermal power scheme. This was undertaken as part of a plan to become a 'self sustaining city' in energy generation, promoted by then leader of the city council Alan Whitehead. The scheme was eventually developed in conjunction with French-owned company COFELY District Energy and the Southampton Geothermal Heating Company was then established. Construction started in 1987 on a well to draw water from the Wessex Basin aquifer at a depth of 1,800 metres and a temperature of 76 °C.[6]

The scheme now heats a number of buildings in the city centre, including the Southampton Civic Centre, the WestQuay shopping centre, Royal South Hants Hospital, Solent University and the Carnival offices; and is part of an enlarged city centre district heating system that includes other combined heating, cooling and power sources.[7][8] As of 2011 the district heating and cooling scheme provides annually 26°CGWh of electricity and over 40°CGWh of heat.[9] Brine from the geothermal well provided 18% of the total district heating mix, with fuel oil (10%) and natural gas (70%) making up the rest. The electricity generated from the scheme is used by Associated British Ports via a private electrical connection to the Port of Southampton, with any surplus electricity sold back to the grid.[7][failed verification]

Https://en.wikipedia.org/wiki/Geothermal_power_in_the_United_Kingdom

"The GeoHub concept centres around six new deep geothermal boreholes utilising Ceraphi's proprietary "closed-loop" downhole heat exchanger technology, designed to transfer heat from the surrounding hot rocks via heat pumps to the surface. "

https://www.lse.co.uk/rns/UKOG/geothermal-energy-agreement-with-ceraphi-energy-iwx2t60nxg90qns.html

How much would 6 wells cost?

Apart from the distribution the on site cost side of things should be reasonable.

And what percentage is about 100m of 16,239m. Not a lot, not a lot.

No problems with me. Can buy 10m at 1.0 or sell at 0.99.

Haulage rates hit three-year high as sector grapples with Brexit, driver shortages and Covid-19

UK road freight rates have hit their highest level in three years, surveys show.

December data from the haulage booking platform and analytics firm Transport Exchange Group (TEG) showed the average haulage price per mile was up by over 30% in the year to December 2021.

More here:
Https://www.export.org.uk/news/592471/Haulage-rates-hit-three-year-high-as-sector-grapples-with-Brexit-driver-shortages-and-Covid-19.htm

Cuadrilla to plug Lancashire fracked wells

Northern Ireland minister backs moratorium on all onshore oil and gas

Two headlines from httPs://drillordrop.com/ if you want to read more.

You've got 250,000 people in the #UK who work in the #Oil & #Gas sector. if we were to switch it off, we'd still import the stuff from around the world!

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