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(UKOG) UK Oil & Gas Share Chat

Discussion in 'General Share Chat (UKOG)' started by Bristol87, Jul 7, 2015.

  1. Keith Mullins

    Keith Mullins Mullins58

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  2. JJ15

    JJ15 Member

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    It will be interesting to see the success of this. It should underpin the price for now (if it drops below the offer price they will be snapped up instead of people taking the offer so I doubt the price would remain low for long).

    A couple of announcements before the deadline could casue a surge in people taking up the offer - details of what the directors bought last Friday would help and an update from Turkey would do nicely.

    Hopefully, it will be judged a success and we will get the opportunity to take part in future fund raising.
     
    Keith Mullins and MCJK like this.
  3. Keith Mullins

    Keith Mullins Mullins58

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  4. JJ15

    JJ15 Member

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    Well, this is a bit disappointing! Whoever it was sold that big chunk the other day got lucky..... :rolleyes:

    https://www.londonstockexchange.com/news-article/UKOG/turkey-basur-3-drilling-update-3/15081166

    RNS Number : 1427H
    UK Oil & Gas PLC
    02 August 2021

    UK Oil & Gas PLC

    ("UKOG" or the "Company")


    Turkey: Basur-3 drilling update #3



    UK Oil & Gas PLC (London AIM: UKOG) has been informed by Aladdin Middle East ("AME"), the operator of the Basur-3 ("B-3") appraisal well (UKOG 50% interest) that the rig has performed a successful recovery or 'fishing' operation to free a directional drilling assembly stuck in its 12¼" hole section and return it safely back to surface. The incident occurred after the well had made good progress, reaching a drilled depth immediately above the Garzan and Mardin target objectives, which remain untested.


    AME now advise that in order to achieve the well's primary objective of appraising the Basur-1 oil discovery, a deviated mechanical sidetrack, B-3s, is now planned to test the Garzan and Mardin targets, the existing 12¼" hole section being considered unsuitable for onwards drilling.


    As the joint venture's new seismic acquisition is scheduled to commence in August 2021, AME have advised that to ensure the sidetrack is optimally located, they plan to pause any drilling until after the acquisition and processing of the new seismic data over the sidetrack's envisaged trajectory.


    Sufficient funds are available to deliver the sidetrack and seismic.


    AME have almost 60 years of operational drilling experience in the naturally fractured and tectonically stressed rocks of SE Turkey. Since AME's discovery of the nearby look alike E. Sadak field in late 2013, they have successfully drilled 12 wells plus 3 sidetracks in the field.


    As per the Company's release of 1st July 2021, the Basur-3 oil appraisal well is located within the north-western structural culmination of the 60 km² Basur-Resan anticlinal structure, with a surface location approximately 1.2 km north of the 1964 Basur-1 oil discovery well. As previously reported on 14 October 2020, 15 January 2021, 21 June 2021, Basur-1 flowed oil to surface at encouraging rates over a 6-hour test period.


    UKOG Turkey Ltd holds a 50% non-operated interest in the surrounding 305 km² Resan M47-b1, b2 licence.


    Chief Executive Stephen Sanderson commented:


    "Clearly the unforeseen delay in delivering the Basur appraisal objective is disappointing, but we remain pleased by AME's exemplary performance in resolving the stuck drilling assembly situation. We concur with AME that the most prudent course of action is to pause commencing the sidetrack until new modern seismic can be incorporated to further de-risk drilling and help achieve our objective."


    Qualified Person's Statement


    Matt Cartwright, UKOG's Commercial Director, who has 38 years of relevant experience in the global oil industry, has approved the information contained in this announcement. Mr Cartwright is a Chartered Engineer and member of the Society of Petroleum Engineers.
     
  5. JJ15

    JJ15 Member

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    And in other news....

    https://www.londonstockexchange.com...on-to-pedl137-pedl246-oga-programmes/15081173

    RNS Number : 1464H
    UK Oil & Gas PLC
    02 August 2021

    UK Oil & Gas PLC

    ("UKOG" or the "Company")


    2-year extensions to PEDL137 & PEDL246 OGA work programmes


    UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that the Oil and Gas Authority has granted two-year extensions to the remaining drilling deadlines necessary to satisfy in full the agreed Retention Area ("RA") work programmes of the Company's operated 85.635% interest Horse Hill PEDL137 and PEDL246 licences.


    Both extensions are retroactive and take effect from the RA anniversary date of 30th September 2020 for PEDL137 and 30th June 2020 for PEDL246. Fulfilment of the RA programme enables the Company to retain all the licenced area vs. a relinquishment of part of the licence.


    The respective RA programme deadlines are now as follows:

    · PEDL137: commence drilling a Kimmeridge appraisal well by 30 September 2022.

    · PEDL246: commence drilling a Kimmeridge exploration well by 30 June 2025.



    The extensions are in response to the coronavirus pandemic.
     
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  6. Keith Mullins

    Keith Mullins Mullins58

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  7. JJ15

    JJ15 Member

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    Keith Mullins likes this.
  8. Keith Mullins

    Keith Mullins Mullins58

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    JJ , lets hope so. ATB
     
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  9. Keith Mullins

    Keith Mullins Mullins58

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  10. Keith Mullins

    Keith Mullins Mullins58

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  11. Keith Mullins

    Keith Mullins Mullins58

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