RE: Loxley = potential company-maker26 May 2022 09:40
Absolutely Legal and worth repeating.....heads up investors....news any day....the government need to be seen to be doing something about the fuel and energy needs of the country!!!
"Loxley gas field is huge in comparison to the size of this small company.The approval of Loxley field will a massive effect on the share price. A rise between 0.5p to 1.0p is achievable just on the approval alone. AIM-listed UK Oil & Gas has announced that a report from Xodus Group details that the area of the Loxley Portland gas discovery lying within its 100% owned and operated PEDL234 licence, is interpreted to contain a significant mean case gross gas initially in place ('GIIP' i.e. gas in the ground before any future production) of 49 billion cubic feet ('bcf'). The portion of GIIP estimated to be recoverable to surface via any future production, the mean gross recoverable resource, is cited as 34 bcf, representing an estimated recovery factor of approx. 70%. Reported high case net PEDL234 GIIP and estimated high case recoverable resources are 76 bcf and 54 bcf, respectively. In terms of recoverable gas resources, the calculated figures places Loxley as one of the largest gas accumulations discovered and flow tested in the UK onshore. If proven by future production, the calculated gross mean recoverable resources would place Loxley second after the Saltfleetby gas field, the UK onshore's largest gas field to date, which produced approx. 73 bcf. These results further underline the Company's view that the 48 sq km Loxley geological structure contains materially significant gas volumes, which in a success case of around 4-5 bcf/year, on an energy equivalent basis, could have the capacity to power around 200,000 homes per year.‘"
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