Member Info for ZYX098

Adrian, you are as transparent as a sheet of cellophane, so why bother to deny it?

As soon as I saw the number of posts that had been made this weekend, I knew it would take less than 30 seconds to work out your new ID and I was right.

You post nonsense that, from a technical stand point, is absolute rubbish and get called out on it by people who actually know what they are talking about.

You have never, N-E-V-E-R, been able to rebut a single one of the so-called "derampers" postings with facts or even reasoned thought to explain your position.

Instead, over and over again, you simply resort to petty name calling (which you will do to this post) and accuse people of being 'derampers', 'shorters' 'share bashers', 'greenies' etc.

You then wonder why you get tossed off the board (again), proclaim your innocence and act as if it's some sort of conspiracy against you.

No.

It's just that sensible people who have a modicum of intelligence and who also actually understand the oil industry get fed up of the board being spammed with your drivel over and over again.

And yes, I still remember you denigrating Ninetails' explanation of having to fight a fire offshore by telling him to "blow out that candle".

You know exactly what my opinion of you is after that episode, and you have done nothing since then to change my mind.

Adrian,

Look up the specific definition of how RFCT and the SC is applied.

They are taxes on PRODUCTION, not profits.

P-R-O-D-U-C-T-I-O-N.

No Adrian, taxes are also paid on production.

30% RFCT plus 10% SC - don't know if the new "windfall tax" of 25% on production also applies Onshore.
So UKOOG are paying at least 40% and possibly 65%.

At least Royalties were abolished several years ago....

$2 Million a year?

No, taking the nominal daily production and just multiplying it by the current price of oil doesn't give the Nett value to the Company - but you've already had that pointed out to you on several occasions Adrian.

Once you take away taxes, operating costs (including water disposal costs which UKOG have never told us what they are) and the UKOG Overheads (including the salaries of the BoD), Horse Hill is probably making a small profit.

Even if it was making $2 Million a year Nett, it would still take over three years to save up enough cash to drill a Loxley Well.

So just for Loxley alone, a placing is incoming - never mind their other ongoing expenditure.

Ocelot,

Redy4It = Adrian. I's so obvious he didn't even bother to try and claim otherwise in his reply.

Now, now Adrian. Behave, or you'll get tossed - again.

While you may fundamentally disagree with Ocelot's position or outlook, he / she never stoops to the level of slinging personal insults.

Penguins,

You missed out 'Troll' and 'desperate deramper' which have also been thrown our way on more than one occasion.

The EU is also labelling gas as 'green'.
https://www.bbc.co.uk/news/world-europe-60229199

"You must be mixing all you multiple accounts up!"

Adrian / Free / Gideons / Fool etc etc, looks like you are the one who is not only mixing up your multiple remaining accounts, but even which board you are posting on...

UVDL's assertion that "Our response will be immediate, united and coordinated." is fantasy.

So far the EU's response has been anything but that.

A) Forget Basur -3. It's in a fault block in which the target horizons are below the 'lowest known hydrocarbons' - i.e. dry. They are looking at doing a sidetrack of at least 800m laterally in a formation that they couldn't drill a vertical well in, just to get to another well that's already been P&A'd. Given the configuration (that we know of) of the current well, it would need a very high tangent to get close to where they want, and they would have to give up one of the targets as the well cannot be configured directionally to get both the Garzan & Mardin. The cost would be very high, and would undoubtedly exhaust what funds they have left - i.e. need another placing to reach TD.

B) They say "UKOG's preliminary interpretation". Knowing how carefully UKOG word their RNS's, that indicates that AME have a different interpretation. Especially since using a single line to claim that Basur and Resan are part of the same anticline is a real stretch.

C) They cannot say that the integrity of the updip B-1 pool remains intact, as they are basing that on the old seismic which managed to horizontally (not vertically!) misplace a fault by an astonishing 600m. That just screams of a survey tie-in error somewhere. That needs to be chased down, as they cannot rely on the accuracy of the rest of the vintage seismic until they do - it's absurd to think that one fault moves and the others don't.

D) They are considering drilling R-6 first. They should absolutely do this. This would minimise the cost expenditure (i.e. smaller placing, if one is still needed) and if it's successful, they can use the bump in share price to get away another placing for any attempt at re-entering B-3.

E) IMHO, if they want to twin B-1, leave B-3 and just drill a vertical Well close to B-1. Technically the risk of trying a high inclination sidetrack to get half the information outweighs the additional cost of building a new wellpad. This would also men they could use a smaller Rig to drill both R-6 and the new Well.

He also criticised the EU for it's disjointed response when UVDL visited him.

Afternoon Ninetails,

I suggest you talk to the SLB rep again - NOBODY in Completions would lump gravel packs or an acid wash under "frac'ing" - they are both a completely different process using different equipment, procedures, fluid volumes and chemicals.

It may seem like splitting hairs to someone on the outside, but it's very important to distinguish between them. It's akin to lumping all planes and helicopters into the term 'aircraft'. You want to move 400 people over 5,000 miles, you aren't going to use a Super Puma to do it!

Ask the SLB rep to go into their data base and look for details of Frac jobs performed Onshore the UK - they certainly did many of them in the early days, along with Hallib & BJ.

But the 200 wells I refer to are proper frac jobs. If you lump in acid washes and gravel packs, the figure would be much higher.

Ibug,

Presuming you are talking about Portland on the South Coast, there are several oil wells not too far North & North East of Weymouth.

Drilled one of them myself :)

Mirasol / Ninetails,

Sorry Gents, but you are lumping several different stimulation techniques under one basket.

Gravel packs don't involve any frac'ing at all.

An acid wash is just that - spot acid across the perfs, give it a gentle squeese to push some into the formation and then flowback the spent acid (no proppant is pumped).

I've not heard the term proppant squeese before - it might refer to what is typically called a 'near wellbore frac', which is a very small scale frac and is used to get past any skin damage caused during drilling or cementing.

If we included all these, then the numbers would run into the thousands, just for Onshore alone. For example, many of the Wells producing from the Oolites in Surrey / Sussex / Devon need regular acid washes.

I'm talking about proper Frac jobs - as noted on P. 17 of the June 2012 paper "Shale Gas extraction in the UK; a review of hydraulic fracturing " produced by the Royal Society & The Royal Academy of Engineering (sorry, the link isn't copying across, but the paper is freely available).

Yes, the great majority were on vertical or deviated wells, but nevertheless the principle and execution are the same.

The best example is Wytch Farm - all the wells into the Sherwood under Poole Bay were frac'd, many of which were under Studland Peninsula - home to the most expensive real estate outside London and they felt....nothing.

Most of the eco-warriors forget (or ignore) that over 200 Onshore Wells have already been frac'd, with ZERO effect on the environment.

You'd think they'd be up in arms about the earth tremors caused by the Geothermal work in Cornwall, but I guess that's an environmentally friendly renewable energy, so that's alright...

Ocelot,

Calling Basur-3 a PRODUCTION Well is a real stretch, even for SS.

Got to find oil first before they can put anything on production.

And for that there has to be a target structure to aim at, which they haven't found yet..

Ninetails / Exploration,

There have already been over 200 Wells frac'd Onshore the UK (and without any of the hysteria seen over Shale - even though the technique is the same) - but this is 'conventional' and not Shale.

As has been said many times before, the Kimm is naturally fractured, so it's very difficult to fracture further - takes way more fluid and horsepower and in reality you have no idea where the fluid is going to go.

The Bowland Shale is the most likely candidate for Shale Gas, but there just hasn't been enough work done (thanks to the environmentalists and the current moratorium) to establish if it can be performed economically or not.

IMHO, talk of fracing Onshore is premature - it needs to be established if it is economical and if so, it would take a bonfire of planning regulations for it to happen and produce meaningful quantities in any reasonable time frame - and that's not going to happen under any Govt.

Far better for the OGA to focus it's resources on approving the dozen or so development plans for Offshore Fields currently under review.

Stimulation Vessels have been working in the North Sea since the 1970's - always at least three - to keep up with demand.

This article is old, but goes through the basics;

https://www.offshore-mag.com/home/article/16804704/nextgeneration-stimulation-vessels-meet-todays-performance-demands

Ninetails - your Brother's Rig will pick up a contract soon, there is going to be a Rig shortage in the North Sea by Q3 at the latest. Many Companies are dusting off projects that were shelved during the 2015 - 2020 oil price crash, never mind those which are looking to get FID approval in the near future.

Ninetails / Tony,

Geothermal doesn't come under the same regulatory regime as oil and gas.

I think you'll find the limit for Geothermal is a lot more than 10x that for Oil & Gs, which is 0.5 on the Richter scale.

I recall reading at least one quake in Cornwall was 2.5, which is 100 times that allowed for O&G, as the Richter scale is logarithmic.

Ninetails - the original discovery Well for that complex did not end well - it was drilled by the Ocean Odyssey...

Ocelot,

Affordable also eliminates floating offshore wind - even the wind industry estimates the cost will be an eye-watering £250 MW/hr.