Member Info for news

Sometime, on 1 Aug 2018, it is possible that there will be an RNS to confirm the change in status ie from Investment co to Operator. This has taxation implications to the upside? If there is any MATERIAL news about the HorseHill Portland it would appear otherwise there is no change.

I have been round to one of the co*s that are developing Fiskerton Airfield Onshore which is a low cost well intervention. they are increasing the pumping to 30bopd at 35.2 API. Prior to this, the well was doing 16bopc. Another field that this co has is the Wressle which has 500bopd initially constrained. This is to look around at peer comparison for conventional wells in the Weald.

So, as far as UK onshore conventional oil goes, the UKOG Horse Hill Portland Extended Well Test is not something new in the Weald Basin and within the medan to slightly higher output.

Over at Brockham and Holmwood, the folks are not in a panic whilst the latter think that Holmwood could be bigger than Horse Hill [their opinion]. This is for the Kimmeridge.

Therefore, with the Weald history for conventional oil a known quantity, it would appear that the required EWT testing has to be done to comply otherwise it would not pass the technical requirement/s. The Brockham folks are discussing the production testing for their side and everyone understands it needs to be done that way.

Hope that helps to put a balance. The same thing happened in 2016. Other forums which UKOG has an interest are not going into the same frame eg Holmwood.

P.S. Gonna be hard for short interest to chase so many co*s going for Kimmeridge Play. Oh, now Holmswood are also joining the Kimmeridge play chase.

The Brockham folks are saying that they are going to be in production with their Kimmeridge. Just reporting Kimmeridge news. Then, as and when Balcombe will do the 7 day Kimmeridge flow test like HH in 2016. Again, what folks are discussing.

(2) UKOG plc changes status to an operating co rather than an investment co. That has tax implications to the upside?

(3) The new sulphur regulation will come in on 1 Jan 2020 and therefore, oil is expected to go to $160 and $200 when the regulation comes in. Max sulphur content 0.5.

The EWT is 150 days. So, one assumes that they have an internal allocated time for Portland EWT. On another UKOG forum, someone mentioned 30-40 days. If one reasons, simple maths says 150 divided by 3=50. Certainly, investors will be due some news at the end of Portland EWT. On Lenigas*s DOR Australian forum, they are excited about the gas and so are the ANGS investors talking about gas. Well, Lenigas also talked of gas recently so guess it will help.

Neil Ritson said that Portland will be a money maker and S.Sanderson said he will be surprised if Portland not commercial. As said, Portland is conventional and lots of data? Lenigas said that the main play is to come ie Kimmeridge.

It is the Kimmeridge that all eyes are on.

From GKP [history now], the nervous paniced when they found no water. Then, it was the complex geology. They worried about the KRG not paying right up to the very minute. They worried about trucks transporting the oil and no pipeline etc. The forums were running 100 to the minute. Everything made people nervous.

Fast forward, GKP is now producing x no of barrels of oil into 5 figures. So, that got sorted out as above to a larger or smaller extent. I have not kept up.

As for UKOG plc, there are so many geo*s involved: The Reservoir Specialist from Nutech sits on the board as a NED, Alba has hired a Reservoir Specialist of note, Lenigas got in Nutech, Schlumberger, Xodus, Angus has their Chief Geo, Balcome >Cuadrilla have their own technical people as the early head of the co came from BP {Lord Browne}. I have looked at Nutech*s website and they are involved with the American majors and have the data set from Bakken and all the other American shale plays.

So, it has to be all sorted out and it may take a bit of time. Technical techniques are getting better all the time.

I hope it turns out for everyone who are in this country. I have just been to read the papers and one Scottish SNP thinks Scottish are going to starve. Some are preparing food/meds so people are losing their heads. One MP talked about Brexit and we can be like Qatar. Well, we are all hoping so.

P.S Of course, there are factors to watch for but since this is hybrid, the Americans may be more nuanced. DYOR.

Part 2

THE PRIZE: Weald Basin UK - "124 BILLION BARRELS OF OIL"
Ref: "Is this UK*s DALLAS style Oil Bonanza."-CNN Money USA of 2016.
Quote: "Oil is flowing from a well in South of England." In essence, "124 BILLION BARRELS OF OIL" could produce 1/4 of UK oil at 200,000 BARRELS of oil a day." It would put UK "in league with Canada & RUSSIA." CNN interviewed an Economic Geologist and recoverable from recall is 20%.

https://money.cnn.com/video/news/2016/03/16/uk-gatwick-oil-cnnmoney.index.html

Comment:
David Lenigas said in his latest interview [Gatwick Gusher gushed again] that recovery is 40-60% a/c to people on this forum. If it is tight oil, it is norm for 5-10% etc. Conventional oil in the region of 40%. From the Bakken USA info [Wiki] it was said recovery around the 20% mark and with water flooding 39-40% recovery. It explains that results were better with NATURAL FRACTURES.

TOC [Total organic content] was said to be 30 [3 times more than Horse Hill]. The recent Beetaloo discovery of Falcon Oil & Origin of Australia - TOC average 3-4%.

Those with a slightly longer view horizon need to understand the data coming out plus what the recent CEO interviews are saying. Without knowing what one is holding, how can one understand the investment?

The prize is POTENTIALLY BIG but who gets the BIGGEST share of the potential pie? It is HISTORY IN THE UK as Brexit looms. Government has an industrial policy and looks like the latest policy on oil is insightful + the regulation to come on low sulphur oil which could push oil to $200 as per article/s.

So many WEALD BASIN player*s geologists on the job via so many co*s.

Boyzee

Investors need to look at the geology [Lidsey & Broadford Bridge] and the recent interviews. Horse Hill itself is 10 billion barrels of oil potential per the data. The share price is marking time and on checking live prices, its on a narrow range. Same with another peer.

Portland is conventional and it will have to carry out conventional technical processes to prove commerciality. On Angus, they are talking of connecting gas to the grid per an agreement [?] so gas is a factor in this.

Meanwhile, those with a medium to slightly longer horizon will need to look at the longer picture ie Kimmeridge.

Further to 8:26 post on this thread, this was PRIOR to Analysis at Lidsey, Bognor Regis:

EFN News USA - https:youtu.be/z5QeVxpMjTs

The above is Energy News Now from 2016 when UKOG plc had American coverage over Horse Hill. In essence, it mentioned "MOVEABLE OIL", "NO structural Oil Trapping Configuration." Mentions also the 30km between Broadford Bridge and Horse Hill.

Since the above video:
1) Paul Vonks, MD, ANGS Interview with Zak Mir of "1 LARGE field, SAME RESERVOIR."
2) David Lenigas, Founder of UKOG plc recent interview: "Gatwick Gusher has gushed again..." Gas mentioned & Lidsey.
3)Analyses by UKOG on Broadford Bridge {posted last night}. - 38.5API, TOC 30 {3 times more than Horse Hill} & Continuous play.
4)Analysis by Chief Geo, ANGS on Bognor Regis*s field, Lidsey - Kimmeridge oil tested 38.5API to 40API

[All the Weald Players and their comments which is on-topic as they have to match their fields with others in the Weald Kimmeridge including Balcombe, nr Broadford Bridge {Cuadrilla}.

"This would bring such shale gas production projects IN LINE with OTHER ENERGY PROJECTS of National Significance such as the development of wind farms and gas fired generation stations." - Consultative document adds.
Comment: Not sure about this as it was earlier talked about ie SS mentioned national significance. So would have to look at the finer details of the actual document released. What other energy projects are, not said.

Paul Vonks, MD, Angus Energy plc Interview with Zak Mir, 24 July 2018 [Part 1 & 2]
www.angusenergy.co.uk [Landing page]

In essence, Vonks said: "1 LARGE FIELD, SAME RESERVOIR."

Comment:
Appears to be further to the Angus Geo*s analyses under this thread. Also, the UKOG*s observation from BB-1 analyses per this thread.

UKOG RNS, 27 Dec 2017 [Amended Operation and Technical Update] - Broadford Bridge. Broadford Bridge is somewhat close to Balcombe.

"The thermal maturity analysis of extracted material from BB1 cores demonstrates that the MID-KIMMERIDGE section of the well lies at or within the early oil generation window. 38.5 API - KL5 6% of rock vol- Oil recovered to surface Upper Jurassic oil family as produced at HORSE HILL."

BB1 OIL CORE demonstrates world class oil potential, SEVERAL KIMMERIDGE ZONES EXCEED 30% Total Organic Cargon {TOC} by weight, THREE TIMES HIGHER than equiv section seen at HORSE HILL."

"CORE Analyses demonstrates mid to basal Kimmeridge lies within the early oil generative window, CONFIRMS BB-1 LIES WITHIN KIMMERIDGE CONTINUOUS Oil Play. Prime Kimmeridge *SWEET SPOT* likely covers most of PEDL 234 North of BB-1."

Comment:
In this thread, just posted the Lidsey Kimmeridge geo/chemical analysis. The above is the Broadford Bridge analyses.

"Chief Geo: The significance of this assessment-demonstrates evidence of Oil Generation of Good Quality on the OUTER PERIMETER of the BASIN. This supports our conclusion that the Weald Basin Kimmeridge Play is Robust and the HIGHEST MATURITY, will be found in the CENTRE of the Weald at Brockham, Balcombe, Holmwood and HORSE HILL. The lowest quality crude in the range possessed LIGHT 38.5% API in the NATURAL FRACTURE system. Brent is 36 API. Demonstrating we have MOVEABLE OIL Kimmeridge at LIDSEY DE-RISKS our assets at Brockham, Balcombe and Holwood." [Chief Geo and Paul Vonks: Geo chemical analysis of Kimmeridge Clays layers at Lidsey-X well." 3.7.18 [From Angus Energy]

On-topic for UKOG plc who have interests in Horse Hill and Holmwood.

Comment: In the latest Proactive Investors Interview with David Lenigas, Founder of UKOG plc a few days ago, he mentioned about Bognor Regis [Lidsey]. Lidsey is so much further than even Broadford Bridge.

Penguins
From what I understand, in general, onshore [conventional other than Wytch Farm] has low production rates? Too late to start research so will post when I have the time to obtain the precise figures or example. As such,the data I posted is from the current IGas website.

on one of Horse Hill Development partner London South East Forum.
Courtesy Scully12345 at 20:54, 27 July 2018 : "These proposed making non-fracking shale gas applications Permitted Development {Without The Need For Planning Permission} and Classifying Major Production Applications NATIONALLY SIGNIFICANT Infrastructure Projects To Be Decided by SECRETARY OF STATE."

Ref: Government Planning Policy Changes On Oil & Gas, 24 July 2018.

On-topic as it is of interest to all the co*s that have an interest in Horse Hill including UKOG plc the biggest holder in the Horse Hill Dev. Ltd consortium.

Dallasdaz

Thanks for the exact data. I recall seeing close to £90m+ but most of us never ever saw 2.39p. It must have just flicked past us. The most we saw was 2.25p. Yeah, so 100x from £1m mkt cap region.

Producer is IGas plc with 55 licences. www.igasplc.com/our-operations/where-we-operate

"9 mths to 31 Dec 2015, average production 2,570 barrels per day with 29 fields and 100 sites."
www.igasplc.com/our-operations/production

So,If 100 sites produce 2,570 boe per day, then each site {1} produces 25.7 barrels of oil
Or 29 fields produce 2,570, then 1 field produces just over 80 BARRELS PER DAY roughly.

Comment: The Horse Hill Portland 1st round of testing and currently EWT comes in at MORE than 80 barrels of oil per day. IGas is the largest producer of ONSHORE oil and gas and this is the PEER comparison [norm]
.As for the whole of the Horse Hill, 1st round of testing, it produced more than WYTCH FARM per David Lenigas*s [then Chairman of UKOG plc] blog.

Hope that helps as this is the current topic of conversation. IGas*s fields producing that type of figure passed COMMERCIALITY? or else they would not have been put on production?. DYOR.

Framework"- published yesterday, 25 July 2018 [DOD].
Quote: " Benefit of hydrocarbon in SHALE GAS for ENERGY SECURITY and low carbon economy."
"Councils are also required to *PUT IN PLACE POLICIES TO FACILITATE THEIR {ONSHORE HYDROCARBONS} Exploration & Extraction & *PLAN POSITIVELY* for them."

Thanks to ibug for the link: "Government presses ahead with planning policy changes on oil and gas-despite *limited support*". D or D, 25 July 2018 [Ref]

"Regulation that could push Oil to $200 & trigger global economic collapse."-RT News, 8 hrs ago, Wed, 25 July 2018
& "Predicts there could be a SHORTAGE of LOW SULPHUR FUELS. As many as 1/2 of refineries cannot produce fuel that meets the regulation." Google title to read. Please check as there can be typo errors.

MyLastQuid
Answer to your question:
When Rare Earth Minerals plc [name changed to Cadence Minerals plc -KDNC], the share price of 0.04p had a market cap of around £1million. At this price, it was at a stage when it had a placing and just before the actual drilling had started from recall. That was why REM share price was talked about as it went from the £1m mkt cap to nearly £60m from recall. It touched 2.25p at the intra-day highest for the stock. But looking at Halifax broker data, there were few that could sell at that price from recall. As for shares in issue, that is usually a side issue as mkt cap is the criteria. Hope that helps. Ref: REM and Sonora Lithium project, Mexico.

Tiburn link

"Greatland Gold...but they rocketed again when they found some nuggets at Blackhills ...they also drilled Haverion and found a FABULOUS INTERSECTION and now they are back in favour."

"They*re now ON THE CUSP of MAJOR DISCOVERIES would DRIVE their VALUATION EVEN HIGHER."

Ref: Proactive Investor*s Video, 23 July 2018 "Investor Paul Johnson on AIM, energy metals and the next big opportunity."

With thanks to Tiburn. Wed 25 July 2018