Member Info for ZYX098

Insidious,

You should read them - then you might actually learn something.

Like, for example, why Pin-1 will not be a game changer.

The problem with burying your head in the sand is that reality really hurts when you don't see it coming...

So in other words, you've just come on here to post a mindless ramp without bothering to read ANY of what has gone on today.....

Theoretically yes.

The problem tends to be that the great majority of shares are in nominee accounts such as HL and they either don't vote or pass responsibility over to the Chairman of the meeting.

SRBS,

Which part of "For the record - yet again - I am invested in UKOG and - yet again - have made no secret that I am unlikely to make my money back." was not clear?

And yes, in the context that UKOG used, rig up means assembling and testing equipment, so you did misunderstand it.

If it was a Rig, it would be capital R and the sentence would be phrased very differently.

You should stop digging.....

SRBS,

You have proved again that you do not understand what UKOG are doing on Pin-1, as they aren't using a Rig for testing - they are using a Crane.

I posted in another thread the operational sequence needed for testing.

Based on where they were when the photo (i.e the evidence...) was released, they should have issued a testing RNS by yesterday at the latest.

They haven't.

For the record - yet again - I am invested in UKOG and - yet again - have made no secret that I am unlikely to make my money back.

Irrespective, I am entitled to post on here as much as I want.

If my posts point out the flaws in your posts, then you'll just have to deal with the crushing disappointment that someone with years of oil industry experience is on here and can do so.

I despise those who mindlessly ramp a share to try and suck in unwary PI's, so they can profit from the P&D.

Be honest - that's the only reason that you are here - to try and take advantage of any P&D as there won't be a sustained rise in the share price.

The absolute best that could be hoped for is that UKOG recover a sample of oil, which they already did when they ran the 9 5/8" casing - just the same as the Keyzer-1 Water Well that is actually on the crest of the structure did.

There will be no flow rates or pressure build up data, as the Well needs to be swabbed.

They didn't run any E-Logs over this hole section when it was drilled (remember, drilled without a BOP Stack installed...), so they have no data at all on the formation properties w.r.t. porosity, permeability and type of formation fluids.

In addition, there is no structure map that we know of.

So even if they do recover an oil sample, they can't use it to book any reserves - which is the only thing that will cause a sustained increase in the share price.

PBoo,

BP identified it from a picture UKOG put up on Twitter (I'm not on Twitter, so couldn't see it).

Perf guns can be easily identified from a distance. Spent perf guns are easy to spot, as they have holes in them where the shots have been fired. Loaded, unfired guns do not.

At the time, there was no Xmas Tree on the Well - and there won't be.

For testing a Well that's about to be swabbed, you need a slickline BOP attached to the Tubing Head, that's all.

Based on the timing, I outlined the sequence of events required (of course, you didn't bother to read that post...) if they had done it properly.

Having seen the operational standards so far, I'm sure they missed out some steps that a prudent Operator would do and so would have been quicker than my estimate.

In any case, based on when the photo was released, I estimated that they should have issued an RNS on Tuesday - Wednesday at the latest - with the testing results if they were positive.

Red Flag No. 1;

From where they were when they issued photos of the spent Perf gun being pulled from Pin-1, UKOG should have issued an RNS yesterday at the latest with the test results - if they were good.

If they were bad, we know from UKOG's many years long track record that any bad news will only come out much, much later.

Red Flag No. 2;

Why issue a tweet about the Loxley CPR?

It's not new news.

It still shows zero Proven reserves, it still shows that RPS disagreed with the pricing methodology that UKOG had told them to use, it still shows very questionable structural interpretation and no other Operator has shown the slightest bit interest in farming in.

IMHO the results from Pin-1 are not good, so the Loxley tweet is an attempt to deflect attention elsewhere.

Lots of chunky sells too.

Maybe - just maybe - why the share price dropped today?

Jut a thought....

That's the same CCC that recently admitted that they have based their renewable energy generation prediction on just ONE years worth of data.....

25 Million bought at the close.

Hmmmm...

What about the 73 Million that were sold 20 mins earlier?

Yes, we need more storage capacity.

Restarting Rough is a help, but well integrity limitations means that it'll never get back to what it was.

If the NIMBY's hadn't objected to more salt cavity storage in Yorkshire, that would have helped too.

There are some big gas fields due to come onstream in the next few years, but equally demand in SEAsia is climbing rapidly. It's why Shell & BP are suing a major LNG provider from the US (Venture Global), because they chose to divert several cargoes to the spot market in SEA than meet their contractual obligations to Shell & BP.

Europe needs to import more LNG from elsewhere, as currently LNG Cargoes from Russia are not embargoed - which is why shipments to Europe rose by 40% last year....

It's a pause on new LNG terminals being approved - not on LNG exports through currently operating terminals - which Europe has become utterly dependent on since Putin invaded Ukraine.

More than a little ironic that we don't allow Shale Gas production due to fears about fracking, but are quite happy to import if from the US.

It made such a difference to the US economy that the first couple of LNG Terminals built on the La coast were originally for the importation of LNG, but when Shale Gas production really hit it's stride they were reconfigured for export use.

Penguins,

You know the ramptastic crew hate posts that contain things like facts and logic......

But yes, you can make money on the P&D if you are lucky enough, otherwise you'll end up like some of the ramptastic crew on here - claiming to have bought at the trough and sold on the peak, when their own posts say otherwise.

Like, for example, claiming to have made money already today, despite previous buys at 0.18p, 0.06p, 0.05p, 0.0329p and 0.0327p (I may have missed a few..).

Oh, and claiming to buy at a low price when the ticker shows no such price was reached on that day.

Seriously?

They weren't using a shooting nipple?

Wow.

Just...wow...

But yes, shows there's nothing with any pressure (i.e. drive mechanism) there.

Which we already knew, as they drilled that hole section without a BOP on....

Sonmoon / Ells / JR90 / G-Martin / Whatever

Thanks for proving yet again that you have absolutely no idea what you are talking about when it comes to the O&G Industry.

Can't see the photos (I'm not on Twitter) - any idea on the length of guns they used, or the SPF?

But if that's where they are at then;

Presumably they'll miss out the clean up run to clear the perforation debris and any burrs in the casing (because they are cheapskates).

So P/U 9 5/8" packer & nipples BHA, and RIH on the tubing with a crane.

Space out, P/U & M/U Tubing Hanger and land off in the Wellhead.

R/U slickline and run a plug in the upper nipple.

R/D slickline, N/D BOP, install Tubing spool, N/U BOP and pressure test same.

R/U surface lines to DST surface equipment and test same.

R/U slickline and recover top plug.

Set plug in nipple below the packer and pressure up to set the packer.

Pressure test packer / annulus.

Recover plug.

(Could pressure up on the Tubing here, to prove they have successfully perforated the casing).

P/U Swab cup Assy, RIH and start swabbing.

They'll know very quickly (using an echo meter) if they are drawing in fluid from the formation.

Sooooooo, earliest day for a testing results RNS would be Tuesday or Wednesday next week I think - but only if UKOG deem it a "success".

We already know one thing - there was no sign of any oil when they re-entered the Well, otherwise they would have said so...

It'll be overturned when it's appealed.

https://www.reuters.com/business/energy/development-permits-3-norway-oil-gas-fields-are-invalid-court-rules-2024-01-18/

"the state argued that the ministry's decisions were valid as laws and regulations did not require Norway to assess the consequences of emissions from petroleum exports abroad."

In other words, there is no requirement to address Scope 3 emissions - which is as it should be, otherwise it leads down the path of IKEA being sued as they sold the chair that someone was beaten to death with.

Us Realists really do live in your head, don't we....

youtube.com/watch?v=8MuhFxaT7zo

Adrian,

You said that you were doing 'dry January', yet your posts last night indicate otherwise...

You should go and see your GP about that cough that you've developed - it sounds quite bad.

Nom,

That's twice in two years that there have been large outages across the Texas grid due to cold weather. Frozen wind turbines was a high contributor on both occasions, as the Texas Regulators declined to specify de-icing equipment be fitted to save money.

It takes much longer than you'd expect to bring capacity back online, as once the power goes down, those parts of gas supply network that are winterised are frozen, creating a cascade effect. The gas plants themselves need electrical power to get back up and running and essentially they have to wait for gas plants that have been mothballed for Winter (Texas uses more power in Summer - A/C requirements), but they take a couple of weeks to bring back online.

Unlike in the UK, ERCOT also doesn't operate fixed term contracts for domestic consumers, so in the previous outage some home owners who still had power were finding their WEEKLY bill was in the thousands of $. Unsurprisingly, there was a big increase in homes being fitted with standby diesel generators.

The European Supergrid is in reality still only a thought exercise and essentially no progress has been made since it was first proposed over a decade ago. The UK leaving the EU is irrelevant, as the interconnectors are commissioned and powered by agreements between the power suppliers, not the EU.

Macron found this out the hard way when he threatened to cut the interconnectors between the UK and France...

Actually, when the EU Commissioners got involved in the European wide framework agreement for interconnector pricing, it was them (against the advice of Norway and the UK) who insisted on gas power being used as the reference price - as they thought they'd always have access to cheap Russian gas....

In the meantime, we currently have 9 interconnectors between the UK and Europe, capable of transmitting up to 9.8 GWhr to and from Europe, with at least one more being considered. The latest (the Viking link) is currently capacity limited by the Danish Grid, not the UK Grid.

BP is also correct, until the lack of grid scale storage (across Europe, not just the UK) is addressed, the electrical gird is vulnerable to interruptions during periods of low renewables generation.

Indeed, Denmark had to go to Court to order Orsted to re-open three Coal & oil fired power stations, while quietly shelving plans to expand offshore wind farms. Despite making a big announcement that they'd stop producing oil by 2035, they quietly dropped that commitment and opened up another offshore licencing round last year.

Similarly, Germany has reactivated mothballed Lignite power stations - the worst fossil fuel there is.

BTW, did you see that Norway announced the award of 62 Exploration Licences last week? Despite Norway already producing much more Gas & Oil than it consumes, there was no outrage in the media or wailing and gnashing of teeth from the Twitterati.

It seems that pointless virtue signalling is only for the UK..