Member Info for wizard125

Legalese

UK and EU want gas to become a green fuel.
Rishi Sunak is a supporter of Carbon capture and other strong potential Conservative leadership challengers are pro UK energy independence.
Incentives were provided yesterday for UK oil and gas development which with the needed changes to Russian supplies to Europe leave a gap in the market which UKOG is primed to fill especially if funding help and fast tracking permit for development and production would be provided in the national interest.
Carbon emissions will fall elsewhere as production post COVID struggles and Russian production and sales deteriate.

https://www.independent.co.uk/climate-change/news/rishi-sunak-climate-change-oil-gas-b2088343.html?amp

Ibug

https://drillordrop.com/2019/07/03/onshore-licence-moves-to-production-without-drilling-a-successful-well/

Ibug

The production licence is achieved by the PEDL licence reaching its third stage.

trollhunter2

It sounds as if you think that Loxley could be fast tracked with drilling, testing & production becoming a single continuous process as SS described the process working in Turkey. PEDL234 is already a production licence?

patrick7

If Loxley planning permission is granted it is not the planning officers who will be overruled but the committee members who voted it down despite advices warnings from officers and there solicitor at both planning meetings.

nomlungu

I believe the seller has links to Gasprom.

ocelot

The whole of PEDL234 in now a production licence and 100% UKOG owned.

Am I really seeing a post from Cyndiliar that doesn't say UKOG placing.

Has he finally got the message.

RNS out.

legalease
What we so far have no idea from from the EWT at Horse Hill is if any tests were conducted on the KL1 and 2 layers.

These as I understand were the deeper Kimmeridge layers and may be deep enough and mature enough to produce oil or gas and may or may not be fractured we don't know.

There was talk of these layers being tested in the EWT but we received no details.

DL always said there was a lot of gas at HH and the reason the well was drilled was based on these figures in the RNS below.

https://www.lse.co.uk/rns/UKOG/update-on-investment-sndio5dg6rfrr4z.html

It may also be a indication as to why they want Loxley and Broadford Bridge data results.

Stevehoops

I wander if we will see a continuous drilling program for Horse Hill of the kind once mooted?

It has been a long time coming!

If this would this be done by UKOG or a farm in would depend on any government funding or if a new CPR was released providing funding or a buy out.

HH now has the potential to become of National importance despite the nay sayers so watch this space.

Ibug

17/2/2022: Permission to appeal to the Supreme Court REFUSED Click Here

This is from the UKOG website and links to a sealed order from the court of appeal

HH1AN2

My understanding was that the Kimmeridge was sealed.

What it takes to unseal it and re-establish the flow I don't know.

Maybe some of our resident experts with so much knowledge can enlighten us with there wisdom.

HH1AN2

While I am not who Adrian likes to say I am. I am in the same boat and can only hope that we can now see some progress.

I don't know how much control UKOG has in its 50/50 partnership with AME but they are the operator. Hopefully sooner rather than later.

News on the recompletion of HH2 and review of re-establishing the Kimmeridge production could come at any time.
I'm not sure if flowing the Kimmeridge again from HH1 requires any regulatory approval or if it just needs opening up the sealed shut in well that produced well after being shut in following the 2016 flow tests.

Penguins

Hiss, Hiss, Hiss.

It sounds as if your bitterness is about to explode!

If the dollar rate changes another 20 cents in the next 12 months as it has in the last 12 it will be $1 to £1.

That would mean at $100 per barrel for 100 BOPD £10,000 per income. Lets see where water injection takes us.

Ocelot

The cost and outcome of adding water injection and
re-establishing Kimmeridge oil will have a big determination on that.

Ibug

UKOG can now proceed ahead with its plans to convert Horse Hill-2z into a water injector during 2022, which, if implemented, would remove the need for costly transportation and disposal of produced saline formation water at remote third-party sites. The initial application for the PP was submitted to the EA 31 months ago on 24 September 2019.

Following the PP grant a review of the viability of reinstating Kimmeridge production and further new Portland infill drilling locations are now under way

If UKOG can add the water injection to HH2 with production returning to 200 - 300 BOPD from the HH1 Portland while reopening the Kimmeridge section we could see 600+ BOPD from HH1.

Revenue from production was only ever calculated at $70 per barrel with costs estimated at $11 per barrel.
These new figures would soon see a turn around in sentiment and profits providing cashflow for further development.

What we now need is the final regulatory approval and positive progress.

Despite the doom and gloom mongers death cries there has been no placing.

The last Kimmeridge flow update was:

Immediately following the current HH-2z shut-in, flow lines were reconnected to HH-1 and dry Kimmeridge oil flow was resumed on 18 December at an initial half-hourly rate of 354 barrels of oil per day ("bopd") with an average daily rate of 301 bopd.