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I've cobbled some key rns timelines together. 9/7/18, change trade status of ukog. 18/7/18, Portland ewt starts. 3/9/18, Portland ewt successfully completed. 20/9/18, grab more HH from gun and prim. 30/9/18, grab more HH from solo. 10/10/18, KL3 ewt starts. 12/12/18, grab more Arreton from solo. 14/2/19, grab more HH from dormi. 16/4/19 grab more holmwood. Land grabs start after status change and after Portland ewt is completed, and continue after KL ewt has completed. The dilution is painful but make of this what you will,
Gell, would it be any different if we started with 3.5m shares and now have 6m? Would that make holders feel any better? The dilution does not do any favours in the here and now, and there is more coming imo. SS has bought the land to facilitate future drills and I'm ok with this. I'm not on with the last mysterious raise. Raising at such a low level with sp raising activities due so soon must mean a transaction is close....it better be. GL
I wouldn't categorize the unofficial feedback from Xodus as an educated guess. But it does give us a ballpark numbers as what to expect. Same for recovery rates quoted. I think we all believed that the CPR would have dropped by now, but with each day of flowing dry oil, the accuracy and content of the cpr should improve. Xodus may be wondering where the water is. GL.
DHC I would be surprised if we did not get some sort of status update on the rig by close of the AGM. Someone will ask him tomorrow and how he answers/evades this question will tell a tale. He has said Spring for months, so if he's not made some sort of solid progress in securing a rig and a timeline by now, then it doesn't bode well imo.
Jaykay, results do speak for themselves and the results from HH have been very good. Portland commercial, approx 30% recoverable. Kim 3and 4 connected allowing the oil in between to flow. Lots to look forward to.
Phil, for sure technology is advancing. Agree on the cloud cover. I can still get 1-2 kw on a lightly overcast day. Solar will help, along with wave and wind. Even splitting the atom. Roofs need to have the correct orientation and pitch. I'm not sure how people in flats in large cities will benefit from solar, or those who don't own their roofs. I hope green energy does leap forwards for my kids sake, but oil has a few decades in it yet. Enough for me to get profits from ukog and maybe by my first hybrid car.
Phil, I have 5kw solar panels on my roof. Get a tidy wee sum each year for them. But they won't run an EV too far in Northern Ireland between October and April. But your point is valid, the key battleground is the point of generation. 20 big turbines close by, ugly brutes. Took them 2 years to plug them in. Had to sink 15 miles of 11kv lines and build a new sub station. Green energy is being forced onto remote land and sea areas, by the same greenies that object to oil wells, making them cost prohibitive and keeping fossil fuels in play. Very ironic.
Alan it is estimated in terms as to how long each operation will take and it's Angs words on the presentation not mine. My point is that the table outlines each step, where a Gantt chart would show areas of overlap. Example. Day 1 of rig demobilisation, are Angs going to order the well test kit then, it sit on their hands for another 5 days? They'd better not. It's a table to keep PI's happy.
The fella on twitter that called out 12th April clearly getting his intel from the rns underground as opposed to the drilling industry. Good to see rig early, may be some fat in angs proposed timelines too. Rubber stamps needed and on she goes.
Pump speed would be reduced if downhole pressure was falling. Sounds like there is still plenty of oil flowing into the borehole allowing them to increase the number of cycles per minute and hence more gas? But again, we are speculating based on obvs from the site.