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Brent crude oil price has been above 67.50 today.

OIL (BRENT) LATEST PRICE
Trade Time07:30AMDaily High67.52Trade Date12/26/2019Daily Low67.22Open67.2752-week High75.60Prev. Close67.2152-week Low49.93

Thanks Adrian ( FOTH) for this interesting fact:

#ukog #horsehill in 2016 HH initial flow test had 50/50 water cut. Choked back to 100% dry oil. This is a great initial result. Wait for stable flow rates to be established and water cut fixed. And ignor ??????

Lol its coming ??

We have oil flow to surface.

I look forward to them sorting out the water ingress & continuing the test with healthier results.

Hopefully we will see the Kimmeridge & Portland flow together from HH1.

bladehater, mirasol

Thanks for your opinion it was a consideration following the extended period of drill pipes going in & out.

It was interesting to see how the technology worked and it's possible future benifits to UKOG wells.

Gl to all with the expected results, fingers crossed.

Try googling.

How can fishbones completion put into a sidetrack well video.

Maybe it was put into HH2 with all the extra drill pipe inserts & removals once the drilling had finished!

Time & patience will tell.

Mr008

What type of completion are we talking about?

Fishbones maybe?

SS comments that HH should be in full production by September 2020 may include HH3 or HH1 sidetracked into Portland which if 3500BOPD was produced from the 2 Portland wells with a CPR would be amazing.

I think it's a sell.

Trades 31
Vol. Sold 16,760,689
Sold Value £155.04k
Vol. Bought 3,396,693
Bought Value £31.42k
PE Ratio -2.256
Earnings -0.41
Dividend 0.00
Yield 0.00%

Thanks for the pictures Adrian & John & for all the great work that all the eyes do.

Glad to see you making a good recovery aswell.

https://drillordrop.com/2019/12/16/ukog-unveils-isle-of-wight-drilling-plans/

basil1717

Depends how you look at it

1st - 10th early
11th-21st mid
22nd-31st late December?

Just for a touch of irony; you forgot to mention which year!

As SS has said patience required obviously there seems to be some hold up which by now should not be unexpected.

All will come good give it time.

Your inpatients will change nothing.

Better to get things right & sorted.

Every barrel of oil produced in the UK is worth at least 3 produced elsewhere!

Bring it on!

Vive LA .UKOG

It would not be the first time flow tests are finished early at Horse Hill due to flows exceeding expectations.

Obviously Penguin's you could not comment on that apart from finding a negative.

Gl. to all holders.

Claimed facts & figures.

argus1

Don't forget he is an accountant.

But he does get confused with figures.

argus1

I do wish you would get your figures right.

The market cap is now £593 million £100 million less!

robone

I take it for all the bluster he has not bought 1 more share?

Wander why?

Petercraigscot

If Jaykay1 was really so happy with Hurricane performance & with its share price he would be filling his boots with Hurricane shares.

Has he told everyone yet how great he is?

Petercraigscot

Maybe SS will pick up Hurricane for a silver sixpence when all is said & done.

Stickmandickman

That may be true but any return will be based on the studies that came out of this report as to if there is any value in returning to BB for a future sidetrack as stated.

My understanding was that the reasons for the lower flow rates experienced would not exist with a new sidetrack & a different completion method.

The original value at BB should still be at BB if that is the case & 100% of it belonging to UKOG with no partner buyouts necessary.

The exploration & appraisal data is all held by UKOG who have the decisions to make of if to:

1. Extend the site life.
2. Put in planning for a sidetrack.
3. Restore the site.

UKOG already has a production licence in PEDL234.

Part 3

Whilst the KL flow rates observed to date are likely sub-commercial, we are encouraged by the multiple occurrences of mobile oil observed in the well and their correlation with good calculated oil saturations in electric logs and core analyses. Consequently we are currently exploring new methods and technologies that might enable us to achieve higher sustainable oil rates and commercial viability from the 1400 vertical feet of oil-saturated KL reservoir rock interpreted at BB-1z.



With this in mind, serious consideration is being given to a possible future short sidetrack, BB-1y. The sidetrack's objective would include a selective re-test of the main KL units, likely utilising an alternate completion methodology, new completion fluids, the possible use of small-bore radial drilling and other reservoir stimulation techniques. Any future work at BB-1/1z would likely take place after a successful trial of such alternate methods and technologies in the next planned PEDL234 exploration well. Such future operations will require further in-depth study of the vast amount of data collected during drilling, coring, electric logging and testing before any conclusions can be finalised.

Sorry for the broken up article it is the comments on BB from the UKOG 2016/17 accounts published 29.3.2018 in RNS

It is worth reflecting that, to date, the first two wells of UKOG's KL exploration programme, HH-1 and this year's BB-1/1z have produced Kimmeridge oil to the surface. This is no mean feat for a new play, particularly one involving both the first large-scale potential continuous oil deposit identified in the UK and one reliant on flowing oil to surface via naturally fractured reservoir rocks. Prior to these two wells, only one well (the 1986 Balcombe-1 well) within the Weald Basin's central thousand square mile area had tested the Kimmeridge reservoir, returning Kimmeridge oil to the surface.