Member Info for Madpunter

If your looking in there's a post for you on M and a later one for Laks and M216 that may be of interest.

Commy - IMHO funding for Niko and settling YA in cash would not have been an option if zones 14 and 15 were dropping off. Testing zone 19 was tried because they were happy with zones 14 and 15, therefore if zone 19 was a failure, they would release the news with the zone 14 and 15 results.

http://www.valuethemarkets.com/index.php/2018/07/31/aim-chief-exec-lofgran-breaks-ranks-challenge-market-makers-naked-shorts-ntog/

Pectin11 - I know it isn't simple, which is why I stated about possible well pressure decline and damage to equipment. I just wanted to show how by just altering the choke there could be significant increases in future production.

Pectin11 - Production could be significantly higher just by altering the choke. IMHO the EWT using a 6/64" choke rather than a 8/64" choke is possibly due to restrictions on flaring the gas. At the latter size, the flow rate more than doubles from 250 bbls/d to 529 bbls/d. When the gas can be processed, then if the EWT indicates much higher flows without too much of a decline in well pressure, or damage to equipment through the higher pressures, then flow rates could be into FOUR FIGURES. The bore is only open an eighth @ 8/64" = 529 bbls/d, therefore 8 x 529 bbls/d = 4232 bbls/d. However, there are other variables which mean that the increase would not be linear and the figure of 4232 bbls/d is just show what is possible.

Hope you enjoyed your month's holiday. What are your thoughts on the chart below:-
https://uk.tradingview.com/chart/UKOG/8dFsxB26-UKOG-Breakout-chart/

Thanks danjam.

JS490 - I don't think the US views Georgia as a 'Stan', as it's not a Muslim country; has lots of aid from the US and the US is very keen for the country to join NATO. The strategic importance could add a premium instead of a discount, especially with Trump as President.

OLADAPO007 - The assets have combined current production of 190,000 barrels of oil equivalent per day (boe/d), about 45% of which is liquid hydrocarbons, and 4.6 billion barrels of oil equivalent (boe) resources. (copied from the link below):-
https://www.hl.co.uk/shares/shares-search-results/b/bp-plc-ordinary-us$0.25/share-news

Coggy and Pectin11 - Maybe one of the old Soviet wells can be used?

Pectin11 - No, I just copied the idea from the link below:-
https://en.wikipedia.org/wiki/Gas_flare

As many as 60 companies bid for BHP's assets which BP bought.
https://www.bloomberg.com/news/articles/2018-07-26/bp-to-pay-10-5-billion-for-most-of-bhp-s-u-s-shale-
BHP spent $20bn on those assets to achieve 190,000 bbls/d, with a break even for the Permian of well under $50/bbl.
https://www.reuters.com/article/us-bhp-divestiture-bp/bp-to-buy-u-s-shale-assets-from-bhp-for-10-5-billion-id
Assuming FRR get 1000 bbls/d by the end of the year from 4 wells @ $3.3m each = $13.2m. Then to get 10,000 bbls/d = $132m, and 190,000 bbls/d equates to $132 x 19 = $2.508bn (just for comparison). FRR can produce EIGHT TIMES cheaper. No wonder majors have been in the data room. IMHO when the EWT's confirm what we have the majors will be queueing up to bid.

Coggy - That is possibly why T39 is being tested with a 6/64" choke rather than the 8/64" to reduce the amount of flaring. When the EWT is finished the gas could be re-injected to maintain higher well pressure and oil production, until it can be transported. Another possibility is to inject the gas into zones 9, 14 and 15 to equalize the pressures for co-mingling.

Sorry Laks I only read the Bored posts catching up from yesterday. Didn't realise you'd started a new thread on the subject.

See the posts @ 1719 and 1723 yesterday.
Another clue. Some mistakenly might think that the tower started leaning 'just like that!'

I'll give you another clue. The cheese leans more than the leaning tower of Pisa.

If I'm wrong I can't reward myself with a pie to go with a pint, and it will have to be a pint of Bass?

Laks - I'll give you a clue. Ruddy big Mac. Not with cheese, that's just finished.

Pompeyrod - The big cheese was yesterday and Saturday.

http://www.bigcheesecaerphilly.co.uk/

sprinter12 - I missed your post while writing my last three, but they answer your question about what to do with the gas, if it can't be flared for production, they can re-inject the gas.