Member Info for wizard125

theluckyone

Chocolate teapot comes to mind.

Staylor1966

Yes normally & normally done monthly under the directors share purchase scheme.

The key question that I don't know is if it has been RNS'ED that directors can or will purchase shares on the scheme if a RNS is required for every purchace on a monthly basis & notification of directors holdings are required.

WickedWyvern

Well spotted you'll get nothing positive from his nibs there.

The HH2 Portland drill was the first scheduled sidetrack at HH & was planned for 750m in length in the 2018.

In November 2018 Xodus stated that early stage water injection was necessary & there are charts to show I think a 45% increase in recovery with the water injection.

HH2 was eventually drilled to a depth of 2500 feet or 762 m before drilling was stopped.

When I say the that the water will naturally fillthe voids through the natural fractures it only gets rubbished by those claiming to be shareholders but constantly dragging the company down.

They think they are credible.

Roganjt

Great to see thanks.

I wish we could see that every day not just because it's a bank holiday weekend.

Hopefully we will get HH permitted, the water injection installed giving production rises and UKOG profit soon.

Be careful cynderlad I think that is two bits of optimism that I have seen from you about UKOG in a week, you'll need to see a doctor soon!

cynderlad

Every count to date?

Keep deluding yourself & remember another famous saying.

'Every dog has his day'

cynderlad

'Yawn'

That seems to be your only record.

You all seem to forget that it was always stated that a new CPR would not be commissioned after HH2 or possibly HH3 which now looks more likely.

The key question is if the Kimmeridge well will now be HH3 as it needs drilling by September 2022 or there will be the Portland & Kimmeridge drills at Horse Hill next year?

Early stage water injection was stated as being needed by Xodus in 2018, with all the delays of the regulations & the OGA allowing production to continue at HH without void replacement it would not be in the UK's interest not to allow water injection where it is feasible.

What many seem to ignore is that if a new CPR is released for Horse Hill it should confirm the extent of the resource of the Portland & Kimmeridge which was the whole point of the EWT which was just a estimate previously.

While we have not yet had this news we can see that SS has received his bonus for its successful completion, UKOG bought a further 35% of the licence from Tellurian & successfully obtained a 20 year production licence for 4 more wells & water injection well which are currently awaiting EA approval before becoming a reality. ( Why if it was not in the company or shareholders interests)

Tick Tock!

Nearly time to wake up & smell the coffee.

mirasol

I understand that the Kimmeridge at HH has to be drilled at HH by September 2022.

Finance may be available for the Portland & Kimmeridge drills after the environmental permit is granted & who knows maybe we will see a farm-in at Horse Hill.

sheps85

It will be interesting to see the change in perception when the environment permit for Horse Hill is granted & the drilling of HH 3 & HH 4 occur.

headinthesand
Ibug, I suspect a strong correlation between those two average figures.

The other wrinkle about Dunsfold is that the entire airfield site is well on the way to having a new village of 1,800 homes built on it, plus other amenities (2 schools, medical centre, shops, business park etc etc).

https://www.dunsfoldparkmasterplan.com/masterplan

.........................

You seem to forget that all these new homes should they happen need energy to build, keep the lights on & run this also needs to be considered as part of the development as it doesn't come out of thin air.

Ibug

Hopefully UKOG know more than any of us following the HH1 EWT, the drilling of HH2 in making there assessment plan for the water injector & HH3.

Ibug

All true but the other factor to consider was in the plan included in the HH environmental permit consultation which included the proposed HH3 well.

penguins

Technical industry knowledge or not it stand to reason unless you are able to prove it wrong ( a long shot but I am sure you will endeavour one of your usual responses !) that as not all the oil in the reservoir is being produced that not all the water there is being produced either.

The key question in this scenario is what is happening to that water as it is able to pass through the fractures & possibly into the void in the reservoir created by the produced oil.

The statement by SS that nothing major was going to happen at HH in the next 12 months as the focus would be on Turkey could be to enable the HH environmental permits to be granted & some natural reservoir replenishment but I am sure you will not agree.

Ibug

The transport plan as I understand was only approved by Surrey council in late 2020 allowing more oil transportation than under the EWT grant.

This will naturally mean that less oil storage capacity is required as transport can be more frequent depending on oil production.

Should oil production rise to a point it is necessary for a upgrade I am sure that it will be applied for but also be more lightly to be granted as it was previously granted without issue.

roganjt

Although I am not a geologist or have technical oil industry knowledge. I imagine that the voids will currently be being refilled to some extent by the water flowing through the natural fractures which is not currently being extracted with the 100 barrels of oil produced per day.

The other area that Ibug on this occasion seems to underestimate is that the reduced storage capacity reduces many of the risk factors of the Horse Hill site, this now appears feasible with the new transport plan in place.

Ibug

You seem to discount that a good deal of the produced oil has come from the Kimmeridge reservoir not the Portland & as far as I know the water injection for HH2 is into the Portland reservoir feeding HH 1, HH2 & the proposed HH3 wells with the Kimmeridge presumably HH4 scheduled to be drilled by September 2022.

Maybe you have more information than you are letting on.

penguins

If you look at the presentation from November 2018 slide 11 the HH2 side track was only supposed to be drilled to
750 meters not about 850m or 2500 feet as stated in the RNS.

https://www.ukogplc.com/ul/UKOG%20Corporate%20Presentation%20Nov%202018..pdf

Why did they drill the extra 100 meters?

penguins

You neglect yet again to mention that the current short term difficulties encountered may be to UKOG's long term advantage with UK regulations playing there part & what was previously only permitted for 2 wells HH1 & HH2 should now be up to 6 wells.

While you like to spout off about HH2 producing water from the drill imo. this was a necessary evil & stated by xodus in November 2018.

What may be the surprise in reality is how far not how short the UKOG had to drill to find the water to retain pressure in the well especially after all the oil that had been extracted from the reservoir during the tests?

A little research for you as I know you like to dig for the elusive details & I am sure you will let me know if you discover the facts!

Have fun & let me know?

Gl.

vernonya

Time will tell & there is indeed the potential for large rises here despite the naysayers playing on the difficulties of the last few years.

Turkey is the new frontier but past successes will at some stage win through with the granting of the new environmental permit for HH & the drilling of HH3 & HH4 with the Kimmeridge at horse Hill mandated to be drilled by September 2020 by the oil & gas authority if HH3 will be drilled first remains a question awaiting answers.

The directors options awards for next year are set at a price of 1.15p if I am not mistaken so better times should be on the way unless they lose out due to poor performance & let them lapse.

Gl.