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Ofcourse that would be common sense however which SS dont have do we are stuffed.
I think people like me will be even ok with placings as long as reasons are clear and money is being earmarked for the purpose with timelines delivered not say ....
spud early 2019 and we are still waiting contracts final stages doing do many times. I hope SS does it before Prince Harry has a 2nd baby it's just ridiculous that's why people are flogging the stock.
Never thought we would be at this price cannot believe it. With all the oil flowing regardless of flow rate tankers rolling out atleast 1 a day may get 2 or 3 due to B/H still so low.
There is needs to be justice God please....
Seadoc
I cant tell you anything you know everything. You could even tell me what would be SP when rig arrives, departs flows and everything else.
I didnt focus on important things but anyways I cannot reverse anything just hope that things get better for me and others.
You're a fortune teller and you must have a crystal ball that tells you the flow rates and corresponding value. You're a genius jealous of you wish I was that damn good.
My mom says in life anything is possible this is only a stock which has been up and down so many times and IMO this is more likely to touch 2p than 0p so we have a chance.
Thank you for you good wishes as when this is 2p or more I may not see you as this has happened loads of time. Derampers just disappear.
Was early 2019 for horizontal.
then it was April on Share talk.
then it was Spring.
Then Q2 now we are coming to the end of Q2.
Last RNS its forthcoming so SS has failed to plan and planning to fail I sincerely hope not.
Additional EWT Information
In order to calculate the Portland oil volume connected to, or "seen by" HH-1, steady state flow conditions were required (i.e. stable; oil rate, gas oil ratio, bottom hole and tubing head pressures). Consequently, post perforation, production was restricted to sustainable 24/7 rates of between 140-160 bopd. It should be noted that these rates do not reflect the Portland's full flow potential that could be achieved either via successful further optimisation of the HH-1 vertical well or a new horizontal production well.
During these sustained flow periods, intermittent natural flow was evident, with metered rates at the separator exceeding the nominal pumped volume by up to 50 bopd, with the highest rate recorded of 191 bopd. Gas rates at the test separator and through the enclosed flare remained broadly constant at around 15,000 cubic feet per day.
We are delighted that the HH-1 re-perforation and optimisation programme has resulted in the forecast sustainable Portland production rate of 362 bopd, which significantly exceeds our initial test programme expectations. This high rate, together with our economic modelling, strongly indicates that the HH-1 Portland vertical well is commercially viable and robustly economic at the lowest observed sustainable test rates and the predicted future sustainable production rates. HHDL's internal declaration of Portland commerciality is therefore expected shortly following receipt of Xodus' final connected oil volume analysis.
Given the EWT has delivered both commercially viable Portland flow rates and connected oil volumes, an internal declaration of Portland commerciality will be made shortly by HDDL.
As the first part of the regulatory process necessary to deliver the Company's goal of long-term oil production at Horse Hill in 2019, HHDL has recently submitted an outline production scoping report to SCC.
The scoping report details the envisaged environmental impacts from the outline development's future drilling, production, decommissioning and site restoration phases. The envisaged development has a total of six production wells and assumes a maximum daily rate of around 3,500 bopd. During the production phase it is envisaged that should production capacity exceed 3,500 bopd an application to increase total produced volumes will be made. The Portland oil pool is envisaged to be produced via up to three wells and one pressure support well. As previously reported, regulatory permissions are in place to drill and flow test the first two new wellbores, HH-1z and HH-2 with a planned early 2019 spud date.
The scoping report and a table of estimated HGV movements during the production phase is available on the Company's website. Average HGV movements during the plan's 20-year field production life are estimated to total three per day.
I think we will get approval as they have approved in the past and if UKOG hasnt breached any conditions attached as their are always some conditions attached to these permissions we should be fine.
UKOG dont frack so they could delay with all the nonsense but will approve in the end worse come worse we will get on appeal but I dont think that will be necessary.
My immediate concern is the rig and flowing atleast 720b from there as I feel 362 is a waffle pie in the sky number and real flow is around 220 x 3 is 660 with this flow rate the SP will collapse as hes being waffling 3 times flow rate of horizontal and if it doesn't deliver BB scenario would come back wont mind if it was 10p and collapse we are at bloody 1p and with rig may get to 2 to 2.5p.
Let's see what happens but people aren't worried about permanent production as much as per Twitter than horizontal flow as that is the initial game changer.
https://twitter.com/FootballstoreU/status/1132939871167877120?s=20
Last RNS
The successful Portland and Kimmeridge extended well test ("EWT") programme has now produced an aggregate volume in excess of 45,500 bbl to date, with a landmark target of 50,000 barrels set to be achieved over the coming month and prior to the start of the forthcoming horizontal well campaign. In order that the HH-2 Portland well can be drilled, the current plan envisages that once HH-1 Portland test production exceeds 25,000 bbl, production will be switched back to the Kimmeridge oil pool.
For prudent Portland reservoir management purposes and to ensure there is no detriment to the expected high performance of the HH-2 Portland horizontal well, the average pumped rate from HH-1 continues to be maintained below the previously reported 362 bopd calculated sustainable rate. As previously stated, based upon well-established reservoir engineering metrics, it is expected that HH-2 has the potential to achieve a rate of 2-3 or more times the HH-1's vertical rate of 362 bopd.
Following a successful tender process, the Company is now finalising contracts for the forthcoming drilling campaign and preparations are now well advanced for simultaneous test production and horizontal drilling operations at Horse Hill.