Member Info for Tony13579

What is a BCF of Portland gas worth?
On one of the slides it claims 56 BCF of gas reserves at Godley Bridge..
60-80% estimated recovery factor

BCF is billion cubic feet..
But gas is priced in mmBTU...

If we assume it’s propane, how much is 1 BCF worth?

Maybe in 3 years with a fist full of P2 proven resources ;-)

I will go 4.3p
I haven’t got a clue... but I think it’s over 2p..
planning, plus rig... and maybe a little extra news by the end of October ?
DOR.? Solo?

A Paul McCartney fan? Lol

I’ll take on your 15p and raise to 20 p, lol

It’s financing... it how you use the finance that matters.
If you borrow because you blew away the last lot of cash and have a haphazard plan any loan can sink you.

If you borrow to invest in a project, keep it on track and know where the money is coming from to repay it. It’s viable.

I had a huge self certified interest only mortgage. I had a combination of repayment sources. Most came good and I paid off 145k in 6 years.

These mortgages are banned now because fools borrowed without. A plan on how to repay the capital.

When I say I paid it off, I held back on £200 so I can use it’s a cheap loan facility, one phone call and I can borrow it back in a few days.

Debt facilities are good and allow you to buy bargains at short notice

The share price reacted to the fab picture tweeted of a shiny new well cellar ready to be used.

Morning tampers and derampers.
The suns out, well it is near Milford Haven. The three tankers in the bay have rode out the storm.

I believe the de-rampers are clutching at straws this morning
1 month to HH3-6 planning.
2 weeks to concluding this deal (approx)
Rig by end of summer (sept 22nd? )

All going to plan on Hydrocarbon Hill ;-)

The share price fell on announcement of a £12m deal. Usual short term panic merchants and de-ramping then on Friday UKOG tweeted a very nice picture of the new well cellar ands the price went up about 20%. That picture added around £20m to the Mcap.

People deramp about dilution
But they forget the increase in the assets and how near they are to maturity , exploration to production licences.

Our share of Horse Hill?
7th Aug 2019 =86%
30th Aug 2018. =46%
24th Aug 2017. =32.4
1st March 2016 =19.96%

If you make a spread sheet of the UKOG assets and the estimates of oil, in place within those licence areas. Then assume 10% recovery divide that over 30 years.... assume $30 per barrel.. convert from dollars to £Uk pounds..
You will need to divide that by the number of shares.. I did that once and realized that the numbers are humongous and 11p was grossly under priced...

It’s way out of date now... but one day I will update it..
you need to define variables so they are easily changed.
Pound dollar rate,
Recovery rates
Production cost per barrel per site
Number of shares
Extra columns for gas
Separate Portland and kimmeridge costs
Proven and unproven p2/ p50 reserves

I note the BBC anti plastics campaign... none have ever had a stay in hospital? Every bit of medical kit is either plastic or wrapped in plastic for medical safety.
You need plastics for the MRI machines, Ct machine, ultrasound .. Tablet packaging.. trays, water jugs. Mattress coatings, flooring, lighting, double insulated electrical kit. Blood pressure machines, drips, lines, drug pumps, nebulizers, gloves, aprons

Not to mention the 24/7 power and backup generators... helicopters and ambulances

Could you imagine a hospital without oil?

He is no longer involved with DOR. The only connection with the Weald is his own personal shares

You might be missing something...LEJJB...
IMO, we need planning for HH3-6 to take full benefit of the HH2 Portland production well and HH1z kimmeridge side track.

I’m sure they could have more from the existing well by allowing the pressure to drop a little more and letting the dissolved gasses drive the well. Those gasses are currently going up the flare and are limited by our waste permit. The gas to wire will lift that restriction.

I want to see a rig as much as every one else. But we can’t produce in earnest until we can handle the gas. Also It should not make a difference , but it’s better to get planning application through with a quiet tidy site.. whilst all the work I have observed has been tidy, orderly. A rig on site gives objectors something to point at..

Getting planning for HH3-6 and 25 years hydrocarbons production is the key to the share price.
Not the rig. You might consider getting your share holding where you want it before that planning officers report.

The two documents released on the planning portal are clarifying points on noise and the restoration of the site. ( To incredible detail ) there do not appear to be any other unresolved issues.

UKOG mentions in the recent RNS that they were switching from Portland to kimmeridge..
we then witnessed them remove the pump, craning in and out the pump rods. And other preparation works moving pipes and plant in readiness for a rig. We also saw a rotary piling machine drilling a hole and a crane manoeuvre what looks like a casing pipe...
I think it is reasonable to leap that last step to say the oil coming out is the kimmeridge oil as per the planned works programme...
I don’t think any one has had an official note, memo email, nod or chat to confirm... ;-)
As that would be insider information.

You are right... but you wrong, lol
Some people read the RNS and get stuck on the first paragraph ...
Others read the whole thing...
The third set read the whole thing and wonder why each sentence was in there!

I went to the site of Godley bridge 1. It’s very unlikely to get planning. It’s been replanted and is deep in what looks like forestry commission land with public access..

Igas have done a little bit more than look at the HH data darling... they have had a rig up at storrington and been testing all last week. Coincidence?

I can’t believe the share price is where it is either. The next 6 months will sort that.

It must be very significant if you had to de-ramp it.

It means that by
1. Finding oil at BB
2. Drilling a side track at BB
3. Submitting planning at Loxley
That UKOG have met the criteria set out to retain the PEDL I believe that is all 300km.

I think that’s something to raise a glass to.
Unless your a swampy.

https://twitter.com/adrianwfire/status/1145652570796544001?s=21
There is a Terranova crane pulling out pump rods. Adrian and Harry the Horse ate giving live updates on the switch over to the Kimmeridge right now...