Member Info for Mirasol

The french made some money but it was washers compared to the value of their company -. I suspect they decided to get in and maybe takeover UKOG or HHDL and thus get the info - luckily for them they didn't manage it and exited as fast as they came and making a small profit

I always thought it curious that the UKOG BoD never said very much about the French......................

"The potential asset of Saltfleetby is massive to ANGS and paid for with the £2.5 million money already in the coffers for decommissioning"

I think you need to realise that's (probably an underestimate) of the liability they're taking on - sure the cash goes in the bank but do you think the OGA etc will just watch while the BoD spends it on salaries ?? Given its Angus they could well ask for it to be put in escrow................

Scally - read the last RNS

" Furthermore, the partners in the Licence convened on 23 June 2019 to formulate their plans for an extended well test at Balcombe and a planning application to that end is already in the process of preparation. The application is expected to be submitted to West Sussex County Council before the end of August"

So they admit they need planning , they haven't gone in for it and they might get it in to the Council in August... and then the clock starts - minimum 4 months, max over 10 years............................... Horse Hill have been waiting 7 months for their latest application and won't hear until; September at the earliest.

sad but true I'm afraid

And remember Balcombe was the first monster protest against "fraccing" - the locals wil be well steamed up ................

"Do we still refer to the 'KL' layers? KL3 and KL4 commingled and now shown as a continuous pool of fractured rocks from K2 to K5 and possibly beyond? "

they label the limestone (or micrites) from KL0 toupwards to KL5 I think

Initially they only perforated the Limestone layers and that's what they are testing. The recent RNS said tho that they had evidence that some are in communication through vertical fractures in the intervening Kimmeridge shales

ian west's fabulous site has some pictures that help

http://www.southampton.ac.uk/~imw/kimgad.htm

Go down to "Brandy Bay Kimmeridge at Low Spring tide" and you can see the (hard) limestones as white bands separated by shales (dark)

It requires a separate planning application to the Council - so anywhere from 4 months to 10 years in the Weald

https://www.alibaba.com/showroom/6-inch-well-casing-price.html

http://www.mtrules.org/gateway/RuleNo.asp?RN=36%2E21%2E640

about 10kg per foot weight

E_Al

its true they don't have to release any info immediately under some circumstances

What they cannot do is release information to a few people (eg those on the call) and not everyone as this would disadvantage those not in the know

AIM and the Nomads pretty much insist in the use of the RNS system for this

So Lucan can issue an RNS at the start of the CC and then talk about it - he cannot talk about something THEN release an RNS

So Kucan can't say anything

Captain - I think you're stretching your cynicism a bit far

"following the installation of a new downhole pump and an optimised surface hydraulic pump unit, stable commingled production resumed on 7 January at an increased initial rate of 525 bopd. The sustained daily rate over the subsequent week averaged 303 bopd. A de-waxing treatment applied on 14 January led to an increase in hourly rate to 351 bopd. Commingled production continues."

So for over a week the AVERAGE rate was over 300 bopd - and they repeated this later. The fact they ran a hot oil treatment suggests some waxing but this is very common onshore UK as is the treatment ( I suspect they were doing the same on the Portland as they often stopped pumping on a Friday or Saturday overnight according to the eyes).

It looks like the they could have pumped at 500 bopd but (again like the Portland) are being careful.

"Risk mitigation" - they have said they do not fully understand the Kimmeridge - it's clear they were surprised that over 600 ft of vertical fractures are contributing at Horse Hill. So they are moving step-wise answering the questions as they occur. The Portland is clearly economic - the Kimmeridge is big upside ... possibly... they just can't be certain and may not be for several years (ask Hurricane about fractured reservoirs)

Horse Hill isn't a duster - it's already produced more oil than Avington, Beckingham, Bletchingley, Brockham, Crossley Warren, Fiskerton, Glentworth, Horndean, Lindsey ........................ did in their first year of production.

We should always be careful but lets look at the facts as well

I think they have a pretty good chance of 3000 a day from the Portland - its a conventional reservoir, it produces elsewhere , it's shallow and they seem to have no problem pulling 200+ barrels a day for months from a well that was never designed for production.

the Kimmeridge? I doubt they know how it will perform long term -fractured reservoirs are tough but can be superb . the only way to tell is to produce them (this is what Hurricane are doing off Shetland). I really y doubt they have a gas problem - no -one has mentioned lots of gas at Balcombe, Broadford Bridge or Brockham - it's quite shallow and may have very little gas in it. I don't remember reports of vast amounts of gas being flowed on the Kimmeridge tests they've carried out so far

A look at the planning documents they say absolute max gas production will start at 0.9million cu ft a day and fall to 0.2 million over the life of the field. This compares with (say) Humbly Grove which produces around 1 million a day right now. These are low numbers TBH

The great benefit of having both Portland and Kimmeridge production from one site is that you get a free carry on the risky Kimmeridge but that could turnout to be the big prize - its pretty risk free compared to say Broadford Bridge which is a pure Kimmeridge play only.

https://drillordrop.com/2019/07/06/second-drilling-company-seeks-to-explore-for-oil-and-gas-surrey-village/

looks like it's about a mile or two from the UKOG Loxley Park/Duxford planned location

Can't see their stupid enough to drill 2 wells on the same target that close. Expect a joint well - probably on the first location to get planning permission - with the other kept back as a joint appraisal development well.

This is Igas putting down a marker to UKOG that they're not the only outfit willing to explore the Weald properly

"Yes I heard £500k decom costs is about right"

Really?

So why are WINGAS offering Lucan and go £ 2.5 million to cover 50% of the costs of decommissioning Saltfleetby?

Do you see a disconnect there or not?

I reckon they'll be lucky to get away with a £ 2 million cost at Brockham - 3 surface locations, 4 sub surface bores, a site in pretty poor condition.................

Which s no doubt why he tried to sneak out the back door last year while he was ahead by getting rid of his shares to that interesting lady and her investment outfit...

"Tidswell claimed it did."

M'lud, the prosecution rests its case...................

"We know from the accounts they have £500,000 in reserve for de-commissioning of the existing assets."

Not sure that's true - its their estimate of what it would cots - which looks very light to me

AFAIK the OGA MAY ask for the money to be ring fenced but rarely do - tho they do keep an eye on on people. If Angus go bust then the OGA will turn to their partners for the cash - joint & several liability. They may even go after people who sold the asset to Angus in the past...... but that's the nuclear option and I don't think it's ever been tested in the courts

I suspect we'll see less and less news flow from UKOG going forward.

A lot of their ops are long term now so not a lot is happening. They don't need the PI's TBH and their II's are somewhat better and more long term than the halcyon days of Lenigas and his mates. Cranking out RNS is costly in time, effort and ££ and it also just gives people a stick to beat you with - I'm sure Sanderson wishes he'd never mentioned "the rig will turn up in spring" for example.

they're well on their way to being another boring AIM minnow............. see Egdon.........

"The only thing that will get this can of worms over 2p is stellar "independently verified" news... and I can't see where on Earth that is going to come from.."

Too damn true Yorkie - if Lucan can get his numbers verified by the Dalai Lama, The Archbishop of Canterbury and David Attenbro' I might (just) believe them... but anyone from Angus - forget it................. just serial misrepresentation of the facts ever since they floated -

PW Well test are the go-to outfit for onshore UK well testing - they work for everyone and have been around for years.

Some of their kit is ancient but no-one will pay enough to get an upgrade. I understand their people are thought to be excellent - but the problem lies with the companies who often don't know their a from their e - (see Angus). PW do what they're told and what they are paid for - you can't blame them if it all goes Broadford Bridge

Another outfit who seem to be everywhere is Moorhouse..

Hthey haven't leftteh Portland to last

I think teh sequence since last June has been

Portland
Kimm
Kimm
Portland
Kimm

It's driven by the test engineers need for data over long periods plus after about 3 months they have to stop to pull out the gauges which have been left recording downhole - at that point they switch to another zone

They gain a great deal of info by seeing how the pressure etc in each zone has recovered during the times it's NOT on flow

"I wouldn't be so sure HH does not need fracking too (to be commercial that is) Remember the Kim layer has only been tested for a short period and no independently verifiable figures have emerged as yet. "

YL - HHDL produced over 25000 barrels of oil and stated that in an RNS - my understanding is that their NOMAD would have demanded to see the production figures and the sales chits before allowing them to state those numbers in an RNS. It was also on test for at least two months IIRC and they have also tested other layers as well.