Member Info for miker444

I think Colter is a long way off and will probably be part of future work that's included within the extended license area's that have been granted, they probably thought it best to resign it to the bottom drawer and focus on the near term projects and lets face it there is an abundance of news due over the next few weeks.

doubleup I said 0.005 up or down is irrelevant because it is a tiny, absolutely tiny amount and for me not worth arguing the toss. As for news BTN -14 is likely already producing at its new rate and that data is probably available to be put out but we have said it looks like ADL will wait until the end of August to get the news from all of the workovers and a bigger final production figure. We gave the reasons and I actually think one final figure will have a bigger impact / uplift to the sp. I have stated that previously.
If you want to reclaim some of the lost £50k then at this low sp you could do worse than getting in now whilst it is so low.

The base is pretty much around this level, 0.005 up or down is pretty much irrelevant now, what we all need to do is wait and see the final figures from all the work overs and if we can get to the 150 bopd target. If we can or even better it and come in nearer to 200 bopd then surely a decent sp rise should occur (from this level).
Greg, I am assuming a pretty accurate time would be 4 weeks / end of August ish.
atb

mm's will want production volumes before they raise the sp, these are not long away and will be very impressive.

I ajb, absolutely and the running room is almost unlimited for extra drills, double figures has been mentioned by S&S.

Very impressive when you see the portfolio and great that VG-4 is now tied in to the gas pipeline and on unrestricted production, I expect 500bopd minimum from that and talk of accelerating another drill due to the high flow rate.

Don't hear much about Curlew A but we have nearly 30% interest of an expected 38.8 mmboe, to put that in to perspective that's double Colter South.

Parta road should have taken 6 - 8 weeks and looks ahead of schedule as not only is it completed but the well pad and groundwork well underway and spud pretty soon.

Thought they might have added West Newton but possible nothing new to update from what we already know i.e next stage is EWT and flow rates, volume of Gas / OIP etc.

They can now add more meat to the bone in tomorrow's AGM.

RBD very much on track and delivering on promises.

atb

If the volume can be increased from 70 bopd to 200+ bopd that will be deemed as very successful and above expectations. Is it possible who knows but there was talk of perforating ( explosives permit) the untapped layers from within the wells already producing. Coupled with that if the casing gas can be reduced significantly ( Gregor Mawhinney seems to think so) then the flow rate will be less restricted and greater volumes will be possible.
It of course depends on the oil / water cut but even at 95% the oil / water separator tanks can handle 5,000 bofpd and that would give 250 bopd. Lots of ifs and buts I agree and we have to wait and see, it is doable if all the ducks line up, if.
atb

West Newton has the potential of being very special. It would appear we have the 189bcf of gas which we would have settled for prior to any drilling taking place.

We were told that there was a possibility of oil in the deeper Cadeby Reef Formation albeit slim (CoS 24%) and this was viewed upon as a huge bonus but unlikely and to keep our feet on the ground.

The news that sitting above the gas was a 65m column of 'liquid' hydrocarbon, we know it's not water, be it condensates or oil is just insane especially as this was not expected or known about before the drill, a total extra which could put the gas in the shade NPV wise.
Finally the 24% Cadeby Reef Formation had an 'oil saturated core', not hydrocarbon 'shows' or 'evidence' but saturated.

If all 3 levels are exploited then this 1 drill is $1bn and then some.

Then just imagine if, as stated, next year another drill is undertaken and is similar in results, after all we only have 176,000 acres of license area to play with :¬).

All the above taken from RNS detail.

atb

Hi Greg,
with hindsight it might be best to come in with an overall figure for all 4 wells completed as the figure will be a one off higher / total uplift bopd. If individually done then an increase of say 25 bopd, (whilst good if you times it by a potential 4) would not have the same impact nor would the other 3 coming in at individual times, especially as some will be higher than others.
So yes a total figure, hopefully hitting 150 bopd should benefit the sp and the mm's.
atb

That was suggested by posters simply due to Wed would have been 12 days - 2 weeks that Gregor Mawhinney gave in his his talk with Simon that news should be due. No RNS is given a date obviously but it is due at any time., unless of course there are problems which with oil & gas is commonplace. Hope not.

I was thinking the same, most likely the tanker has got stuck in the mud due to the weight of the oil :¬)
Should have it free by next week's RNS.

No RNS today then, happy with Greg explanation of extra shares in issues the reason for a few being put through but majority holding.
Guessing is just that a guess so any number at this stage could be correct, within reason.
atb

Hope not although anythings possible, we do have more wells but it goes without saying this first one is important for so many reasons.

Flipping heck Helpful if we get that from 1 well we will re-rate on that alone! lol

So we have

miker444 46 bopd
Greg25 50 bopd
Helpful 80 bopd
Certainly going in the right direction atb

Hi Helpful, my figure is for total (not increment) from just one well, namely, BTN - 14 and stable production.
atb

Not many posters on here but thought it would be fun to guess the total BTN - 14 flow rate. I will start with:
46 barrels.
Greg what say you sir.

Looking to increase 70 bopd from 3 wells, average 23 bopd (each well) to 150 bopd is a total increase of 80 bopd and we would need to hit near the 50 bopd (total) for BTN - 14 to be on target. Having said that there is a 4th well which is shut in and Simon may have included the added increase from that in his calcs overall.

Generalising, we need to therefore almost double the existing production 23/24 barrels from each well. Firstly with BTN-14 we need an increase no matter what, secondly if it comes in at 50 bopd then we are on target.

Like to think we should have that news by Friday latest.

atb

Yes it smells so bad that Steve & Sachin are going to return £12m directly to shareholders and also look at dividend payouts.

Steve & Sachin can fall in shi*t and still come up smelling of roses.

Smells good :¬)

I also have a Surrey Council letter in front of me but it was not issued because I made a comment of support, it was issued because I asked to be kept informed of the planning applications and responses from both Surrey Council and UKOG.
These comments will not hold anything up, I do agree with the poster who stated Rathlin should have applied for a storage permit in advance, at least get the application in and if it was not needed then withdraw it.
24% CoS or not it should have been covered imo.

Wow, a few on here doing their best to prevent support comments being logged, that's all they are a simple message to be read, you will not be getting replies for christ sake or holding anything up, it will be a count off amount in support and x amount against and basic bullet points of content, I have worked in such Council depts.
Uggy the site is so simple a 2 year old could do it, I have said before click on Zoom's link you register with your e-mail address and a password of your choosing, erm…. that's it.
atb