Member Info for Ibug

Mirasol
For all we know they will "manage" the production/re-injection for best fiscal returns. After all we don't know what the costs will be for re-injection yet and possibly never will.

Insidious
If they had made double quick progress they would be drilling by now.

Penguins
More like shooting fish in the dead sea. I'm surprised AME did not hook UKOG on this tiddler "ARI/AME-SNR/K/M48-c1-1 (Gedikasar/Birini Oil Fields) for a period of 5 (five) years starting from 28th March 2018". It is after all just to the south of East Sadak.

http://aladdinmiddleeast.com/Operations-Overview/EN/37/119/A

Page 4 of "Turkey New Acreage PR Slides FINAL 091220" gives an indication of how bad the seismic information is in the local area. Shame they haven't told us where they intend to conduct the new survey.

https://www.ukogplc.com/ul/5fd1d1f94b964_Turkey_New_Acreage_PR_Slides_FINAL_091220.pdf

Mirasol
Read what what I wrote. I said "UKOG has never given any indication that they have put HH-2Z into production." I read the RNS's far more than you do so know exactly what was previously said.

"Portland oil pool Production will commence via Horse Hill-1 ("HH-1"), with Kimmeridge Production planned to be added in late spring via a conversion of the well to a dual completion. Production from HH-2z is planned to follow upon completion of the current extended well testing campaign."
It all came to a messy end and HH-2Z was never put into production.

Penguins
The OGA only publish oil figures that have been produced under a production agreement where they have given approval as with HH-1. UKOG has never given any indication that they have put HH-2Z into production. You only need to look at the figures provided by the OGA to work out that HH-2Z has never been part of the equation.
Production oil and oil that has been produced are treated differently for fiscal reasons and a RNS would need to be issued if they had put HH-2Z into production as they did with HH-1.

2020 totals in m3
m 893
a 1160
m 871
j 753
j 600
a 633
s 445
o 233
n 483
d 403
If as you say HH-2Z oil had been included how come it does not show in the figures?
No mention of HH-2 production going into the proven developed producing (“PDP”) reserves
category.
I am quite content with my figures.

Penguins
Was HH-2Z ever put into production? As far as I am aware it only ever reached the testing stage. I don't remember seeing a RNS announcing it was in production. This was the last update I saw back in March last year "Production from HH-2z is planned to follow upon completion of the current extended well testing campaign.". Have I missed something?

Penguins
HH-2Z does not affect first 5 months of this financial year (Oct 20-end Feb 21). I use figures from OGA and RNS updates in my calculations.

In the last financial year UKOG were responsible for 29094 bbl and Horndean 5119 bbl (Attributed to UKOG) making a total of 34213 bbls of oil. Generated revenues of £0.91 million for the 2 fields gives an average price of $37 per barrel. That means there was between a tanker every 2 or 3 days at HH and the average for the year was 80 bopd (they were not pumping every day).

In the first 5 months of this financial year HH has produced 13302 bbls at an average of 89 bopd (only partial production for October) with present production up to 106 bopd.

Oh simples. That is the same video they posted 4 days ago. Are you really named simple for obvious reasons?

ocelot
Sawyers brother at Güney Yildizi Petrol who is partner in 5 other fields with AME out of 7 is one of the absentees. That tells me more than your reluctance to see past the end of your nose. Keep polishing.

Just go to https://ogauthority.maps.arcgis.com/apps/webappviewer/index.html?id=984eeea3b1664049b12c02a28478bdaa

Read in sort of 3 columns

Reporting Period in Oil Production Volume (m3) Water production volume (ksm3)
yyyymm format

202003 893 0.9
202004 1,160.00 0.9
202005 871 87.6
202006 753 235.7
202007 600 219.5
202008 633 226.3
202009 445 179.6
202010 233 0
202011 483 188
202012 403 169

In Jan/Feb they produced on average 106 bopd which would mean a tanker every 2 days or 2 tankers every 4 days.

wizard
Prospect A is 5km from the Resan Field so Resan-6 will not be drilled there.

Do you know if they have a rig ready as they were drilling at E.Sadak recently?

Even I can work out 60 days is May 22nd.

Have they moved oil pick up to a Tuesday?

They are not hanging about getting the date for the AGM out. Last year it was in June. Obviously need to top up allocation of shares. Will it be £350k this year? Placing in 3 weeks?

https://consult.environment-agency.gov.uk/psc/rh6-0hn-horse-hill-developments-ltd/consultation/published_select_respondent

Has been stuck on 486 responses for ages. Only 2 days to go.

wizard

Look at "Figure 3: Seismic Lines Extending Across the HH Structure, Existing Wells and Fault Framework, Figures 4 and 5" and make your own judgement. That's what I do.

wizard
Was it Michael or Minnie that put a broker rating of 1p on UKOK? The last official broker rating was in 2016

09-Mar-16 WH Ireland Buy - - Under Review

and even that was inconclusive.

https://www.lse.co.uk/ShareBrokerTips.asp?shareprice=UKOG&share=Uk-Oil-and-Gas

https://www.facebook.com/watch/?v=505857077088581

10 minutes in. Sounds like trillhunter has been making requests!