Member Info for wizard125

Penguins

As you usually like to quote a CPR then let's do that.

As I pointed out to you already but you have chosen to not take into account the 2.6mmbo net to UKOG is now
3.8 mmbo net as UKOG now own 95% of the licence not the 65% at the time of the 2018 CPR.

This figure is also the low estimate not the best or high figure so is very conservative.

Oil Prospective Resources W.I. Gross Volumes Net to UKOG Risk
Factor5 Operator
(MMbbl) Low 4.0
Estimate
Best 10.5
Estimate
High 21.6
Estimate
Low 2.6
Estimate
Best 6.8
Estimate
High 14
Estimate
Onshore Isle of Wight: These figures are not upgraded to take account of UKOG's now 95% licence holding & only reflect a 65% licence holding.

argus1

I have put below 2 links one to the UKOG page you mentioned & one to the interim results from Solo energy which also describe the Weald OIP & the IOW licence.

https://www.ukogplc.com/page.php?pID=108

http://otp.investis.com/clients/uk/solo_oil/rns/regulatory-story.aspx?newsid=576546&cid=983

argus1

If I am not mistaken that was further upgraded by Schlumberger to 130 billion barrel OIP across the Weald.

All were independent estimates by world class oil & gas experts.

northfork

Unfortunately I don't think that will happen as the reasons for Surrey council's refusal are not linked to the reason for the court case even if they were the real reason that the planning committee members voted it down.

It is also my belief that the council issued the refusal notice fairly quickly without releasing the results of it's investigation into councilors conduct by the monitoring officer but I stand to be corrected.

Imo. it was done as the result of the supreme courts Heathrow airport extension ruling & if the council had then decided to overturn the committee decision for a second time and return it to the committee again & it was passed all hell would have been let loose.

As far as I know the monitoring officer has not yet reported to the complaints from members of this forum who were advised that they would be contacted when there investigation was complete although a formal decision notice has been issued but maybe someone can let us know if they have received a reply?

Penguins

Do UKOG own 65% or 95%of the licence & resources?

Do UKOG own 32% or nearly 86% of the HH Portland and
it's resources & hass it been upgraded?

Horse Hill - Portland 32% 0.59 1.50 3.63 0.19 0.49 1.18 75% HHDL

Penguin's

Glass half empty as always no mention of CPR out of date at 2.6 low estimate figure net to UKOG now a low figure of 3.8 mmboe net to UKOG as they own 95% not the stated 65% of the Iicence.

Not to mention the 7.1 MMBOE mentioned in the promotion slide probably minimum that has not been accounted for in the 2018 CPR net to UKOG from 100% owned PEDL 234 Locksley.

Penguins

While I see your point of a minimum you will have to admit that that is out of date?

Penguin's

While I grant you that the Turkish slide is not a RNS & would not need to be 100% accurate if you are so concerned maybe you can email UKOG & seek some clarification from them as if they have really lost as much oil as you suggest I think a RNS would be required.

Alternatively maybe it has been upgraded & a decimal point is in the wrong place on the Turkish slide.

Like you say you believe the CPR to be more accurate!

Ninetails

The irony being that Sarah Finch still wants to appeal.

My understanding is that here she has been refused a judicial review by the court of appeal not had one.

My opinion is that costs should be awarded against Sarah Finch & here supporters, The Weald action group & Friends of the earth as a taste of reality just like Greenpeace were fined for activist action in there name.

Penguins

For your information here is a rock formation plan of the IOW curtsey of 'Drill or Drop.'

https://drillordrop.com/2020/07/21/oil-drilling-puts-isle-of-wight-biosphere-status-at-risk-aonb-chair/

What we don't have is the depths of the 3 stacked reservoir's so we can see which formation layer they fall into & the depth of each one but I imagine that your 2.6 is the tip of the iceberg ' the Portland,' but IMO. UKOG are far far ahead with there plans!

Penguins

Although I have said it many times I will repeat it again just for you as
if I understand it correctly that may be for the Portland at Arreton main.

Should you choose to read all the RNS the second aim of the appraisal is to appraise the Kimmeridge layer but the FDP for the Kimmeridge is not due for the next couple of years & may be done as one FDP hence the current UKOG share price
The information we have does not state resources or the depth of each layer for the Portland or Kimmeridge.

The information that we have is that there are 3 stacked layers of oil possibly Portland, Kimmeridge maybe more than one layer as at HH KL3 & KL4 but the initial planning permission is initially for 500 BOPD.

Grayling
You are seriously deluded, maybe you should do a little research as to how many barrels of oil & gas are used in the world every day.

All I can do is laugh at your knowledge when you post stupidity like that.

Penguin's

What figures were you expecting from the IOW please do tell?

I suggest that you re-read all RNS about the IOW then come back & should you still not get it maybe I will try to enlighten you but if you really think that UKOG have lost that much oil please reconsider even if you look the fool for saying it! Which I doubt you will.

Tony13579

Thanks for the positive news.

I remember SS in his interview of January 2019 that he he would not mind going to the IOW before Dunsfold.

Maybe he was aware of what UKOG would face at the Dunsfold planning meeting.

Is it all part of the plan?

LSE337

Thanks Chris that is very interesting & not just for the chimney but the story underneath with all it's implications.

LSE337

Thanks Chris, I didn't know that.

Do they not have lorries accessing that facility from the same road network?

It sounds as if UKOG would be a good neighbor for them to have.

Tony13579

Thanks

I think the point about the rig, wedding & scenary issue stinks.

If there were concerns over these issues they could have been resolved by conditions.

We have just seen with the West Newton drill taking place at a time of the year when any temporary impact of the rig would be reduced to a minimum.

The transport issues are totally overplayed & as far as Ii am aware have nothing to substantiate them.

So I'm looking forward to a successful outcome from the planning inspector.

One issue that UKOG will have to consider is that it may have to seek a extension to the time it has to drill Loxley from the OGA as a result of the appeals process.

It would be a opertune time to raise the issues with them as the regulator the issues faced by licence holders when the national policy requirements are met under the licence the delays encountered by having to go through a polically sensitive planning committee.

Maybe it should suggest to the OGA that applications like this should be considered under delegated powers as they meet the national policies.

Ibug

Have you have found the 2D sismic results from Resan yet?

Brent Crude 52.17 +0.66 +1.28%(11

Brent Crude 51.81 +0.31