Member Info for Ibug

Who was drinking, smoking or slipping on snakeoil yesterday? When has SS updated the NAV or operating costs since they discovered water ingress at HH-1? All evaluations are off imo if you don't take the real costs into account. Just look at the cost of sales and revenue in the accounts. They are even raiding the coffee pot to cook the Turkey.

Turkey news
Petroleum exploration license applications will be kept confidential for 60 days.
The period of keeping the content of the application confidential in petroleum exploration license applications has been reduced to 60 days. 

TPO get a licence application accepted or rejected nearly every day in Turkey.

World news
Norway's oil production down
Norway's oil production fell by 90,000 barrels a day in November compared to the previous month, remaining 5 percent below expectations.

before xmas today. Should be back next Wednesday.

What goes around, comes around. Gas price x production is always zero income if you are not producing anything.

https://www.macrotrends.net/2478/natural-gas-prices-historical-chart

The Planning Officer supported the application but he doesn't get a vote. The Councillors vote on behalf of their constituents don't they. It is not as if any of the Planning Committee were "locals". At the end of the day it is SCC residents that foot the bill.

Looks like the Courts have shut down. No judgements through today. I don't expect anything on Loxley either as no doubt the Civil Servants will be out partying. How many are you allowed?

ocelot
Unlike you going back to 2020. You can't have it all ways. It is very difficult to shovel s**t uphill no matter how hard you try.

Perhaps you would have been better off posting what the result was rather than what a Councillor said.

"AT LOXLEY WELL SITE - LAND SOUTH OF DUNSFOLD ROAD AND EAST OF HIGH LOXLEY ROAD, DUNSFOLD, SURREY
FOR THE FOLLOWING REASONS:
1. It has not been demonstrated that the highway network is of an appropriate standard for use by the traffic generated by the development, or that the traffic generated by the development would not have a significant adverse impact on highway safety contrary to Surrey Minerals Plan Core Strategy 2011 Policy MC15.
2. It has not been demonstrated that the applicant has provided information sufficient for the County Planning Authority to be satisfied that there would be no significant adverse impact on the appearance, quality and character of the landscape and any features that contribute towards its distinctiveness, including its designation as an Area of Great Landscape Value, contrary to Surrey Minerals Plan Core Strategy 2011 Policy MC14(iii)."

But it is lower than it was 6 years ago.

https://www.eia.gov/todayinenergy/detail.php?id=46376

Why push it now when all the natural resources can change so rapidly. Even oil was at $150 a barrel not so long ago.

For information. SCC still refused the application on the 27 November 2020 even after the hail mary was released.

I wonder if someone will be regurgitating this in 6 years time?

"Drill or Drop

The small village of Dunsfold in Surrey could be on the UK’s second biggest onshore gas field, an exploration company said this morning.

UK Oil & Gas (UKOG) described its proposed well site near the village as “a significant gas resource”.

A report by the Xodus Group on the site, called Loxley, estimated the mean case gross gas initially in place at 49 bcf [billion cubic feet] and the mean gross recoverable resource at 34 bcf

Interpreting the findings, UKOG said:

“If proven by future production, the calculated gross mean recoverable resources would place Loxley second after the Saltfleetby gas field [in Lincolnshire], the UK onshore’s largest gas field to date, which produced approximately 73 bcf [billion cubic feet]"

Will the injector work? There is a fault line and over 500m between HH-2Z injector and HH-1 Portland . There is also a vertical separation between the 2 sites of interest with HH-1 being over 130ft above HH-2Z . Any experts care to comment?

Cashintime
I posted it a couple of months ago after the last lot of raises. It was over £70m and I think below £80m. It doesn't really matter now with the MCap we have imo.

Do PC's still have big feet? Or had they better watch out? https://www.youtube.com/watch?v=gmUW2pVAopc

HH1AN2
Didn't the little birdy tell you? As I understand it and straight from Harry's mouth it is about 3/4 tankers a week. Not sure what ratio though.

2027 if they ever get that far.

Mirasol
I know he seems to appear under many blankets but there's more chance of FOTH giving up drinking than of Ozzy being Adrian imo.

Did you miss the ones yesterday?

I take it you were all bored yesterday. Posting a DL photo from 10/10/18 related to this bit of a RNS.

"10/10/2018
KL3 flowed 40-41° API continuously and naturally to surface (i.e. without any pump) over a 50 hour initial planned oil flow period. Oil flow initiated instantaneously with minimal pressure "draw-down". First planned 24-hour shut-in and pressure build-up test ("PBU") now underway.

· Sustained continuous oil rates of between 563 and 771 barrels of oil per day ("bopd") on 36/64 and 38/64 inch choke, respectively, recorded over last 24 hours through test separator. Gas rates up to 186,000 cu ft per day measured through enclosed flare. Flow sustained at constant stable bottom hole pressure.

· Recorded sustained rates significantly exceed the 464 bopd over a short 7.5-hour total flow period reported in 2016. "

Not sure why it was brought up but since production started nearly 2 years ago it has dropped from a maximum of 235 bopd down to 82 bopd (August).

Designing a climate compatibility checkpoint for future oil and gas licensing in the UK Continental Shelf

Nearly as good as the prediction of oil and gas prices for companies not producing much or any.

Potential Tests
Potential test 1: Reductions in operational greenhouse gas emissions from the sector vs. commitments
Potential test 2: Reductions in operational greenhouse gas emissions from the sector benchmarked internationally
Potential test 3: Status of the UK as a net importer or exporter of oil and gas
Potential test 4: Sector progress in supporting Energy Transition technologies
Potential test 5: Consideration of international Scope 3 emissions

And yes, onshore did get a mention.

"Although the onshore sector is much smaller than the offshore sector, the department is minded to include onshore oil and gas licensing in the outcome of any checkpoint. This means that a future negative checkpoint outcome would also be taken into account in relation to onshore licensing rounds. Onshore oil and gas is a devolved matter, so this would apply only to England."