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Sounds plausible but it's very hard these days to just leave an investment (especially in the energy business) just "tick over" without getting involved.

Senior management will worry that they need to know what is going on - - look what happened to the poor co-venturers in the Deepwater Horizon disaster - cost them billions and they had no input or responsibility for it at all.

Imagine the swampies get rough? They could go after Total petrol stations in the UK..... and what would be the reaction in Texas and Paris?? The reputational risk is there and Tellurian have no control over it - last thing they need are headlines in say the Wall Street Journal "US Company involved in battle with Environmentalists in England" when they're trying to raise the odd billion or so.

And the net share of even a thousands barrel a day will just about pay for their UK lawyers & accountants and a couple of trips to talk to HHDL every year.

No they've had a free ride and tit's turned out well for them - so sell........ maybe that's why UKOG are still raising cash?

Tellurian?

Couldn't give a stuff about Horse Hill - look at their latest Corporate Presentation........ not a mention - they're trying to build a multi- BILLION dollar US gas export business and recently had a $500 million investment from Total - you think they care about 35% of 200 barrels a day in the Weald? They'll sell as soon as someone offers them a decent price IMHO

https://d1io3yog0oux5.cloudfront.net/_f62f40bdccef07e524e4ffe1bc57077e/tellurianinc/db/284/2069/pdf/TELL_Corporate+Presentation_April+2019.pdf

Evidence for Kimmeridge production?

Pump rates and tankers indicate it's still Portland

The last RNS stated

"The well is currently shut in for a 60 hour pressure build up test prior to the scheduled retrieval of down hole pressure gauges. Following the pressure data retrieval and other maintenance over the coming
week, Portland test production will resume"

Absolutely no mention of the Kimmeridge here.

Calculation of water in the rocks is not an exact science

those of us with long memories will remember how Desire announced an oil discovery in the Falklands based on electric logging and had to back track when the samples showed it was water. V expensive error - especially for the PI's...........

I think Sanderson has alluded to the fact that the modern techniques used by NUTECH and Schlumberger (and probably APEX who he is using in Houston) show different results to the "traditional " analysis - and the XODUS CPR also mentions there are differences between the NUTECH data and previous conventional work

Alan

I 'm worried about fractures/faults - the rocks are the same but are the fractures? Maybe Brockham has hit an open fracture that goes all the way into the water leg? and Horse Hill (being much more vertical) has not - but might do if and when they go high angle or horizontal with their next wells??

If that is the case there is a decent chance Angus can close off the water prone zone - but as you say there is a lot of work to do yet and only an idiot would pay for for gear weeks before you need it........ best left on a nice dry shelf than sitting in the weather in the middle of the Weald

excellent post from EOGL -

My take is that they are being careful to keep the pressure steady and rates relatively low until they get more information and planning permission for production. They don't want to risk ANY water before then as it would bring on a melt down in the SP (see Angus).

They also have to be careful not to irritate the OGA and SCC - this is supposed to be a TEST not production and I believe the OGA frowns on any mention of doing it to make money - it's supposed to be for the higher scientific cause only . (I know, I know - but that's the sort of people who are running the Govt....)

I also doubt they're sitting on a CPR - those things go out of date quickly and you don't want to have to issue it with a lot of weasel words about "since it was written the following changes have occurred..."

what I 'd like is an explanation of why Horse Hill produced 20,000 Kimmeridge barrels of oil with no water (and none in 2016) whereas there is a potential water issue at Brockham....... I worry the geology ISN'T the same............

Tanker movements suggest they are sticking close to 220 barrels a day and the eyes seem to think the pump is doing 3 to 4 strokes a minute and that has been the case for some time.

Suggest to me they are happy to produce at current levels without messing around changing things which will screw up the analysis - long term steady flow (and very long buildups) are what the engineers need I believe

They are also producing almost twice the "economic rate" so it sounds as if they are establishing a base for the long term. If this was the only well they have it's over twice what EDR are getting - so it means there probably is a 10+ year future if you look at the XODUS CPR recoverable numbers.

Everything beyond this is jam - and we're not in here to be in another EDR I hope - but at least it's unlikely to suddenly disappear as has happened elsewhere with AIM energy stocks

fair enough - the problem lies with the original tweet which din't make clear what was what... Pboo is overenthusiastic but I don't think it was deliberate in this case - trouble is later readers take it as gospel and it all gets out of hand. We just have to wait ofr the company RNS - in maybe a couple of weeks.

Interestingly suppliers often have favorite carriers so nothing wrong with pointing that out . The Broadford Bridge picture (bottom) has a skid clearly marked as "PWWT" - PW Well Test for sure

I suspect that Weald Oilders tweet contains Brockham and Broadband Bridge pics and they haven't (for some reason) made it clear which is which.

The large one shows a Lyons truck near Brockham and it doesn't seem to have much on the back - the small pictures show a Lyons truck (s) around Broadford Bridge 2017/18 with some seriously heavy kit on board if I'm not mistaken.

They are clearly NOT moving the same kit to Brockham - at least not yet. Alan is right - there is no mention of well test gear in the Angus statements - they probably have an option on it but it will wait until they see how the remedial work goes before paying a cent.

DHC -

all they said on the 11th April is "on track" - he doesn't mention which rig. As far as I know the rig at W Newton is the old BDF28 - which was the rig used to drill both Horse Hill 1 and Broadford Bridge - there aren't that many rigs around the UK onshore .

I guess they are waiting for the 200th tanker or some significant production level for the next RNS. That might also cover the rig contract, an update on timings (and in my experience things always are delayed in the oil business) and maybe an extension to the production limits for the well test.

We shall see.

https://reabold.com/investor-relations/regulatory-news/

Reabold and UJ have reported W newton has spudded and will take 45 days to drill (and that will be a minimum I guess)

If this is the rig that will be going to Horse Hill for the HHDL drilling programme they can't start drilling at Horse Hill much before 1st July. Possibly explains the delay in announcing the rig contract - until they know when it might turn up they want to keep options open.

There are several ways of measuring the financial health of a company Sageman and SP isn't only a small part of the picture (unless you wish to sell of course)

Cash flow - always a problem with small oil companies until they get settled but compare UKOG with Angus over the last year.....

Market Cap - it's gone up significantly in the time I've held shares here

Debt - very little

Ability to raise capital - amazing

****ging off Sanderson because he can't move the price seems a bit much - is there any evidence that your suggested programme would make any difference??

On the DOR board someone reckoned DL will need around $13-15 million by August to pay for his 50% of the well they're going to drill to earn the interest. they've negotiated.... I'd have thought he had enough fans and mates to see him there fairly easily TBH

Nothing there from Angus but a joint paper with Imperial College and the UKOG team by the looks of it - very interesting

No wonder Sanderson is hoovering up the basin......

Whoops - Mary Twain - well known sister of Mark............

Ahhh - AIM RNS's... you could write a book on them...

over the years I normally take an RNS from an AIM mining company and assume that whatever they say is the exact opposite of what happened - as Mary Twain said "A mine is a hole in the ground with a liar standing next to it".

For Oil & gas companies it pays to go through and ask why did they use every SPECIFIC word. They rarely lie outright these days but boy, are there cunning shades of meaning and omission.

I'm especially focused on words like "could", "calculated", "rates" - and the presence/absence of words such as "all", "firm" "certain" "proved" etc etc

it's not Angus specifically - there are some good examples of very careful language in PR releases from the likes of Petromatad, Cabot, Solo, UKOG, Sound, 88 Energy etc etc - it is AIM after all

No great insight - just that around 200+ barrels a day is very close to a tanker load - so yes - 6 -7 tankers a week on average.

I 'm not sure what the maximum number of tankers there have been in a day but I could see you hiring one for the day and having it make two trips. The on-site facillities aren't a properly designed, long term loading rig either of course so probably a bit inefficient time-wise. That could mean 2 tankers several days next week - which would get some people very excited.........

I occasionally wonder if HHDL's production rate is set to that to keep the cash flowing but not to get the locals upset by producing too much (or rather tanker movements) before they get Planning permission for full production - it's an odd coincidence .......

Scally

theoretically you are right but I'm sure that Horse hill is restricted with no truck & tanker movements after 12:00 on EVERY Saturday and all Sunday in their planning permission/transport plan - and nothing on Public Holidays. UKOG/HHDL haven't made many tanker runs on Saturday mornings I believe looking at Adrian's tweets- and there is also a question if the refinery is open on Saturday afternoon to receive loads. If it's only a couple every Saturday they probably don't bother..................

A lot depends on the exact wording at Brockham - as it is a producing site they can WORK 24/7 but can they ship anything in or out? Not sure

don't think we'll see any tankers until Tuesday - plus they seem to have a maintenance period most Saturdays. IIRC they might be able to legally get a tanker out by 12:00 today but with all the swampies around and stirred up by Emma T they may prefer to stay low profile. Expect 2-3 tankers Tuesday to remove the weekend production.