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One analyst at First Equity Ltd is suggesting a target price of 6p on Alba, 4P of which is on the HH discovery. How long will it be before others wake up and smell the oil also ?? These Weald players SP's should all take off soon.
One analyst at First Equity Ltd is suggesting a target price of 6p on Alba, 4P of which is on the HH discovery. How long will it be before others wake up and smell the oil also ?? These Weald players SP's should all take off soon.
One analyst at First Equity Ltd is suggesting a target price of 6p on Alba, 4P of which is on the HH discovery. How long will it be before others wake up and smell the oil also ?? These Weald players SP's should all take off soon.
As per PV
- $60 margin per barrel (@$85 POO).
- normal market assessment is that for each 100Bopd the market cap is between GBP25-40m and Angus are at less than GBP30m !
- Angus perforating 200m at Brockham compared to HHDL's HH 30ft,and will produce from all of that together !
Do the maths, this Co is way undervalued !
I was very polite ocelot. Bad manners get you nowhere !
I was simply asking that he help cut out all the speculation that constantly goes on in here and on Twitter and which will hopefully help arrest the slippage in the SP.
I for one accept that the Exodus report may take time, after all there is a lot riding on it. And I am behind what is going on re new drilling sites/wells etc. But the issue is the lack of 'briefings' to the shareholders. I don't expect a RNS every 5 minutes but some better PR is definitely required to keep the ship steady.
I genuinely believe (hope) that the SP will take a significant upwards swing soon when the news starts to filter out and people start to believe the hype is actually real.
We know from the recent RNS that the Portland will be declared commercial (they said as much and quoted the projected figures) and that a horizontal well would significantly increase the potential output (and with an expectation of multiple wells). The formal report will be out soon enough. These things take time as there are reputations on the line to get them right - and they can't charge vast amounts of money for a 5 minute job!.
The two Kimm layers, whilst they have yet to be proven, showed great potential in 2016, and so there is no real reason (other that speculation/de-ramping) to suggest that they will be anything less this time around. As I read it a declaration will be made per layer as they are testing by layer (possibly doing a combined test again later, who knows). Again though these will be based on vertical wells.
We have been told there are vast quantities of oil in (mind boggling amounts in fact) the Weald (from various sources not just UKOG). How much can be extracted easily is the challenge of course but UKOG (and others) are investing heavily in the Weald in terms of licence percentages,with more drilling planned and they have changed the company to a production company. I'm not sure they would be so foolhardy to do this without a high decree of confidence that it is a wise investment. Again, a lot of reputations are on the line here, as these are not SS's decision alone I am certain as he has a whole team of experts around him, as well as technical support from other partners. And so one can only, reasonably, assume that they collectively all know what they are doing - unlike all the armchair experts (me included !).
Fingers crossed.
But they also said.... "Given the knowledge of the Portland's true flow potential, plans are now being formulated to drill either the HH-1z sidetrack or HH-2 new drill as a horizontal Portland appraisal well, with a targeted* sustainable daily production rate of 720 to 1,080 bopd, 2 to 3 times the forecast calculated* HH-1 vertical well rate of 362 bopd. All planning permissions, Environment Agency permits and the HH-2 well cellar are in place for a horizontal well. If successful it is envisaged that all future Portland production will be via horizontal wells."
If its commercial at 14 0BOPD then what does 700-1,000 BOPD mean ?!
And this is the Portland ! The Kimm is coming.
GLA
I think like DL said, what is of greatest interest is SS's statement "UKOG, supported by its remaining three coventurers, can now steer the way towards permanent HH oil production in 2019" Now if that is not a tell tale sign Portland and/or Kimm will be commercial, what is ?
Let's just sit tight, the (good) news is coming I'm sure. STAY CALM people, please !
If I recall correctly SS said that the decision would be made on whether the Portland would be commercial (first). So yes,whilst I fully expect (IMHO) that both of the Kimms will follow suit, they should announce on Portland first.
Don't temp fate re a RNS for HH tomorrow...as everyone then expects it and if it doesn't come, and for good reason (i.e. they ares till optimising the flow with the larger pump), there will be immediate despondency and soothsayers stating it's all failed ! Keep patient, and optimistic is my advice.
I'm not getting my hopes up for a RNS tomorrow, as if the pump is just getting operational and removing fluids, I expect it will be few more days before they get the 'optimal' flow going for SS to declare the new figures (and hopefully that long awaited confirmation of commerciality). Patience is a virtue.
And then of course it's on to the Kimm...Viva La Kimm !
It just infuriates me that people spend so much time and energy in over-egging things that the fear of a non-super duper RNS is such that everyone then expects the SP to drop like a stone. I will say it again, what the hell is wrong with 400+ BOPD ?? What would be wrong with similar flow rates to 2016 for the Kimm layers. These should be seen as positive and let the SP hold its own or indeed increase when commerciality is announced based on these sorts of figures. Anything above this should be the icing on the cake.
Let's not forget this is a retrospective planning application which was design to save face, as i recall. Not that that make's it a foregone conclusion I agree. But if there was any damage, then the damage is effectively done. So hopefully it will be a case of 'let's just move on'.
My goodness, this all beggars belief about how ill informed or gullible people can be.
So let's just ask ourselves the question...how many tsunami's have we seen in the North Sea or let's say the Persian Gulf ? Answer - none. What causes tsunami's ? Earthquakes on the ocean floor I believe. And what are they doing in the North Sea and the Persian Gulf ? Drilling for oil, day in day out, to far greater depths than we are seeing onshore UK. And what else are they doing? Injecting gas and water in great quantities and at high pressures - constantly.
So give me a break.
I'm blocking anyone that even suggests that these earthquakes are related to any onshore oil and gas operations.