Member Info for Ibug

Typical cliche crap. You might as well say not many buyers about. For every buyer there is a seller. For every seller there is a buyer. At a price.

https://iow.moderngov.co.uk/ieListDocuments.aspx?CId=163&MId=685

Next meeting 19th October but my source has given up on predicting when it will be due to Covid still playing a part in Council business.

I know nothing but it really does mess up my calculations for when the next placing is likely and that does mess up when I may buy or sell.

I don't understand the big differences between the two Annual Reports. I know the UKOG (85.635%) one includes Horndean. The HHDL one includes DOR (4%) and ALBA (18.1%).

FOR YEAR ENDED 30 SEPTEMBER 2020

UKOG
Revenue 908
Cost of sales(1,171)

HHDL
Turnover 751
Cost of sales(1,905)

TH2
What a genius you are. But what about the rest of the financial year which ends in 2 weeks time?

Oct-20 40.47
Nov-20 43.23
Dec-20 49.87
Jan-21 54.55
Feb-21 61.96
Mar-21 65.19
Apr-21 64.77
May-21 68.04
Jun-21 73.07
Jul-21 74.39
Aug-21 70.02
I expect September to be in the low 70's.

Do you expect the cost of sales to be less than the revenue in the next set of accounts or is that above your pay grade?

Ditto for gas. Not even close to the rise in price.

https://www.lse.co.uk/ShareChart.asp?sharechart=CNA&share=Centrica

http://www.livecharts.co.uk/MarketCharts/ngas.php

Does POO really affect the SP?

https://www.lse.co.uk/ShareChart.asp?sharechart=BP.&share=BP

They still have about £500k's worth of shares left to give away and a some pocket money in the bank depending on what admin will be in the next 8/9 months and what they need to fork out for Basur if it is not a basic sidetrack. Should just about cover the work on HH-2Z but that could depend on how much the appeal cost if they lose. You can't take anything for granted apart from death (I don't pay taxes).

BB PEDL234 The planning extension, which was recommended by WSCC's planning officer, will expire on 31 March 2022. (It has already had 3 extensions 17/18/20)

HH PEDL137: commence drilling a Kimmeridge appraisal well by 30 September 2022.

IOW PEDL331 Initial Term End Date 20/07/2023

Dunsfold PEDL234 Loxley-1 gas appraisal well must commence. In order to satisfy the licence's Retention Area programme, Loxley-1 drilling must now commence before 31st December 2023.

2nd HH site PEDL246: commence drilling a Kimmeridge exploration well by 30 June 2025.

Wizard

"The extensions are in response to the coronavirus pandemic."

Rubbish. UKOG have had plenty of opportunity to drill a Kimmeridge well. They have also known about the requirement since 2017 so no excuse not to do it. HH-2 was the obvious choice but for some reason they didn't. imo it was money. I don't think they had the cash to drill and core the extra depth required at the time. It would have been the easiest solution.

Retention Areas Agreed (Updated October 2020) 2014 Model Clauses
"drill a Portland appraisal well of Horse Hill 1 by 30 September 2019, drill a Kimmeridge limestone appraisal well of Horse Hill 1 by 30 September 2020 and acquire 40 km2 of 3D seismic by 30 September 2021"
Retention Areas Agreed (Updated December 2018) Retention Areas Agreed (December 2017)
"drill a Kimmeridge limestone appraisal well of Horse Hill 1 by 30 September 2019"

Prior to the well test in 2016 DL always referred to it as an EWT. As you can see from my previous post the test was planned for 3 months which is about 90 days which was at the time the standard period for an EWT. Where DL messed up was the amount of oil that they would be allowed to produce and gas vented during that period. 2000bl in 90 days is about 22bopd and that is why the "EWT" was cut short and they had to do it again.

For the real EWT they were allowed to produce over 50,000 bbls and they even have to apply for an increase to that as it went over the 90 days.

Are you sure you were invested here back then?

08 February 2016

UK Oil & Gas Investments PLC

("UKOG" or the "Company")

Horse Hill-1 Oil Discovery, Weald Basin, UK

Flow Test Operations Commence



UK Oil & Gas Investments PLC (London AIM and ISDX: UKOG) announces that it has been notified by Horse Hill Developments Limited ("HHDL") that operations have now commenced at the Horse Hill site to conduct the extended flow test over three separate zones in the Horse Hill-1 ("HH-1") oil discovery well.

As previously reported, the extended flow test is designed to test both the oil bearing Upper Portland sandstone and two Kimmeridge limestones beneath the Portland.

Wizard
If you remember back that far it was due to DL not agreeing with the OGA the correct format for an EWT. Instead of going for the 90 day normal EWT this was what came back from the OGA. HE ffff'd up imo. Not only spilt milk but sour milk.

"31 December 2015
PETROLEUM EXPLORATION AND DEVELOPMENT LICENCE NO PEDL137 APPROVAL FOR TEST PRODUCTION
CONSENT TO VENT GAS
1. I am directed by the Secretary of State to say that she hereby approves, for the purposes of clause 13(1) of the Model Clauses incorporated in the above-mentioned licence, the getting, during the period commencing on 1 January 2016 and expiring on 31 March 2016, of petroleum from the well Horse Hill-1 (“the well”) in the course of a production test of the well.
2. This Approval is given on condition that:
(a) during the said test, petroleum in the form of crude oil shall not be got from the well in amounts which in total exceed oil 2000 bbl (280 tonnes, 320 cubic metres);
(b) the Licensees shall, within 30 days of completion of the said test, submit to the Department a single well report fully describing the test results and conclusions reached; and
(c) the well shall be closed in upon completion of the said test and the Licensees shall inform the Department as soon as is practicable after this has happened.
3. I am further directed by the Secretary of State to say that, pursuant to section 12 of the Energy Act 1976, as amended by paragraph 26(2) of Schedule 7 to the Gas Act 1986, he hereby consents to the disposal, by releasing it unignited into the atmosphere, of natural gas produced in the course of the said test on condition that natural gas shall not be disposed of by releasing it unignited in amounts which in total exceed 22,500 scf of associated gas.

EA Application document said

"REASON FOR AMENDMENT Development consented by planning permission RE18/02667/CON1 commenced in October 2020, with an initial workover of the existing well (HH-1). The next phase of development on site will see surface facility modifications and the installation of a water reinjection well to facilitate full production in the future. However, in advance of this work, the Applicant needs to determine the character and nature of the crude oil and its flow. This will involve the production of a relatively small quantity of crude oil at surface. At the time of the HSC application submission in January 2020, the need for crude oil storage was anticipated to be a maximum of 285 tonnes. However, the Applicants planned activities are constantly under review to ensure future operations are efficient, environmentally sustainable and in full regulatory compliance with the current legislative framework. As a result of the most recent review of legislation and a re-assessment of the sites storage inventory, the Applicant is able to reduce the need for crude oil storage to a maximum of 49 tonnes. This, in turn, reduces the classification of the site from its previous status as a Top-tier COMAH Establishment to a Lower-tier COMAH Establishment reducing the regulatory burden on the Environmental Agency, Health & Safety Executive and Surrey County Council as the appropriate authorities responsible for
monitoring and managing site operations.
In summary, a reduced requirement for crude oil storage at surface from a maximum of 285 tonnes to a maximum of 49 tonnes has been made possible through the adoption of more efficient site operations."

doesn't like facebook or groups or com

the asterisks are

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https://www.********************336946440099862/permalink/1270619400065890/

Still active.

Enerjiniz Enerjimiz ! Uluslararasi standartlarda sondaj hizmeti saglayarak Türkiye Petrolleri için Nigde’de yeni rezervler ariyoruz. 225 ton çekme kapasiteli ve Top Drive’li kulemiz ile sondajimiza basari ile devam ediyoruz.

Your Energy Our Energy! We are looking for new reserves in Nigde for Turkish Petroleum by providing drilling services at international standards. We continue our drilling with success with our 225 tons towing capacity and Top Drive rig.

https://www.facebook.com/oceanmecenergy/photos/2790470357910692

Makes you wonder why they were making various Solvency Statements, Statement by Directors, and other statements in the last few months.

But the BoD were not getting a 22% discount. The "investors" were.

investor
/?n'v?st?/
Learn to pronounce
noun
a person or organization that puts money into financial schemes, property, etc. with the expectation of achieving a profit.

It does not say you have to like the financial schemes for long periods.

No wonder the BoD have been quiet. It would be interesting to know the reason for some of the filings.

Rather than post them all individually I have used a generic UKOG search. Not all are ours.

https://find-and-update.company-information.service.gov.uk/search?q=UKOG

https://find-and-update.company-information.service.gov.uk/company/05299925
https://find-and-update.company-information.service.gov.uk/company/11252712