Member Info for Ibug

THS
helps if you read the report.

https://planning.surreycc.gov.uk/DisplayImage.aspx?doc=cmVjb3JkX251bWJlcj01Njc3KmZpbGVuYW1lPVxcREVGXE1hc3RlckdvdlxEb2N1bWVudHNcUGxhbm5pbmdcU0NDIFJlZiAyMDE5LTAwNzJcRGVjaXNpb24gTm90aWNlLnBkZippbWFnZV9udW1iZXI9MTkxNC4wMDAwKmltYWdlX3R5cGU9cGxhbm5pbmcqbGFzdF9tb2RpZmllZF9mcm9tX2Rpc2s9MDEvMDEvMDAwMSAwMDowMDowMA==

SURREY COUNTY COUNCIL AS COUNTY PLANNING AUTHORITY DO HEREBY REFUSE PLANNING PERMISSION FOR THE CONSTRUCTION, OPERATION AND DECOMMISSIONING OF A WELL SITE FOR THE EXPLORATION AND APPRAISAL OF HYDROCARBON MINERALS FROM ONE EXPLORATORY BOREHOLE (LOXLEY-1) AND ONE SIDE - TRACK BOREHOLE (LOXLEY - 1Z) FOR A TEMPORARY PERIOD OF THREE YEARS INVOLVING THE SITING OF PLANT AND EQUIPMENT, THE CONSTRUCTION OF A NEW ACCESS TRACK, A NEW HIGHWAY JUNCTION WITH HIGH LOXLEY ROAD, HIGHWAY IMPROVEMENTS AT THE JUNCTION OF HIGH LOXLEY ROAD AND DUNSFOLD ROAD AND THE ERECTION OF A BOUNDARY FENCE AND ENTRANCE GATES WITH RESTORATION TO AGRICULTURE.
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).
DATE 15 December 2020 Caroline Smith
PLANNING GROUP MANAGER

Determined - Refusals - all types

https://planning.surreycc.gov.uk/planappdisp.aspx?AppNo=SCC%20Ref%202019/0072

The only historical information I could find for East Sadak was the drilling of the 2nd well and they had to drill a sidetrack for that as the 1st drill got stuck. By the time they drilled it DS-1 was down to 30 bopd and the initial flow rate for DS-2/S2 was 400 bopd.

How not to keep your documents secure.

Http://docs.petform.org.tr/

Sorry. You only get what is in the public domain. I don't get paid to give out my own research. You will need to do that for yourself. Lets just say I make my trading decisions on what I find.

I haven't seen one picture of it glowing in the dark. It has really flared only a couple of times to make it glow in the past 2 1/2 years ish.
Hard to believe they started the EWT on 27th Jun 2018 and here we are.

April
Brent average price $18
981.36t or 7193 bbls produced for the month
$3 barrel profit = $21579 gross for the month

Take off tax, other unexpected working costs (workovers etc.) and only getting 85.635%, and it will be less net. Figures have been rounded up/down so it's a rough guide.

Sources
Https://www.statista.com/statistics/262861/uk-brent-crude-oil-monthly-price-development/
Https://ogauthority.maps.arcgis.com/apps/webappviewer/index.html?id=984eeea3b1664049b12c02a28478bdaa

In the first 6 months of production up until the end of August I make it $530k gross from HH-1 based on average price of Brent for each month and OPEX of $15/bbl. That really makes a mockery of those posting £2m profit for the same period in the last few months.

Think that's the first oil tanker this month.

Exactly the same as not sure we import anything of importance on the oil and gas front from any EU country.

https://knowledge.energyinst.org/search/record?id=58936

And to produce some oil.

Average price of Brent since production began. It will be April before we find out what this months production figures are.

September $41
August $45
July $43
June $40
May $29
April $18
March $32

10/12/20: UKOG’s application for 3 new Turkish licences.

https://www.ukogplc.com/ul/Turkey%20New%20Acreage%20PR%20Slides%20FINAL%20091220.pdf

https://www.ukogplc.com/ul/Turkey%20New%20Acreage%20PR%20Slides%20FINAL%20091220.pdf

Go to https://ukogl.org.uk/ and look at the number of wells drilled in the Weald. They are the purple ones and tell us how many are producing over 100 bopd.
AIM is for suckers to give their hard earned cash to the BOD's that will mug them off.
What is so different about Turkey? AME have de-risked Resan so that UKOG will be carrying the total cost imo. At $5 a barrel OPEX and cheap labour they are on a Win Win imo.

Just paste into google maps 37.7877672,42.1444246

Remember slide on presentation has north in a wsw direction so will look slightly different. A bit bigger than HH.

PEDL137 is only 99 km2 and one licence. Turkey will be 762 km2 of less densely populated terrain for 5 licences. I make that about 50% bigger.

Mirasol
Don't you mean "Resan-Y 200bblsd Contingent Resources" on the slide. Big difference.
Basur-3 is the name of the well on the 2 Resan license areas. Not sure what they are going to call the other 3 licenses. Best not to get too confused before they even start.

What has East Sadak got to do with UKOG?

If there is a placing SS will have sold PI's yet another dummy imo. I'm not betting against it after looking back at price of Brent in the last year. It is only since June that the price has stabilised. Unexpected costs for Loxley/IOW planning applications and High Court may have pushed admin costs up. Never say never. I've done my calculations.

14 October 2020
Further to its successful 02 October equity raise, UKOG will now fund its agreed share of key initial preparatory operations so that the first oil appraisal well, currently planned as Basur-3, a surface location for which has now been chosen, can be drilled as soon as practicable in early 2021.

02 October 2020
The Proceeds of the Placing will, therefore, be used primarily to support and fund UKOG's share of initial Turkish Licence operations costs, to include the purchase of long-lead drilling equipment, construction of a drilling pad and necessary preparations for seismic acquisition.

At about 16m in it sounds like he says they will start drilling in the next sixty days or so. Could be spudding anytime up to end of January in that case.

It would appear that SS has really been keeping the news quiet on Turkey. From what I could make out they have exploration licences for:
UKOG FARM-IN 50%
AR/AME/K/M47-b1, b2

There is also a AME - UKOG Joint Application for M47-b3, M47-c1 and M48-d1 licences which they have just applied for. Looks like it will be one exploration well per licence imo.

See BUKAT LICENCE APPLICATIONS slide at 16m 57s

AME - UKOG Joint Application
AR/AME/K/M47-b3
AR/AME/K/M47-c1
AR/AME/K/M48-d1