Following the recent publication of the Company’s Interim Statements Mr Neil Ritson, LGO’s Chief Executive Officer, is pleased to be hosting a live webinar at 11am BST on Friday 7th October 2016 accessible via this link.
Listeners are encouraged to submit questions at any stage by emailing email@example.com or by clicking on the question button at the foot of the webcasting page during the live event.
LSE Share Talk spoke with Stephen Sanderson about #UKOG RNS update Upgrade to Portland Oil in Place, Weald Basin.
Stephen Sanderson, UKOG’s Executive Chairman, who has over 35 years of relevant experience in the oil industry, explains in great detail the HH-1 well which UKOG owns a 27.3% interest in the Licences, which are operated by Horse Hill Developments Ltd.
Nutech’s Report details that the production of dry oil from the Portland, with little or no observed water production, required a rethink of the pre-flow test petrophysical model. Revised petrophysical model will be used to update Xodus’ 2015 estimates of the total OIP contained within the mapped Horse Hill Portland oil accumulation.
Stephen Sanderson explains in detail the following comment “The applications will seek permission to conduct a programme consisting of the production flow testing of 3 Kimmeridge Limestone zones plus the overlying Portland over a total flow period of up to 360 days, plus two further appraisal/development wells and the acquisition of 3D seismic data.”
At the Company’s Annual General Meeting held earlier today all Resolutions were passed. During the AGM, the CEO shared a brief company presentation which did not contain any material new information, but stressed the management’s commitment to its existing strategy to focus on development and production lead growth in Trinidad.
88 Energy ICEWINE and ICEWINE 2 Investor Presentation
MEO Australia Limited (“MEO”) (ASX: MEO) advises that the seismic reprocessing and inversion study over the Beehive prospect in WA-488-P (MEO 100%) has now been completed, with very encouraging results. The seismic inversion results have reinforced the interim reprocessing results (see ASX announcement 14 April 2016) and have enhanced the understanding of the Beehive reservoir and seal units, providing additional confidence regarding the nature of the Beehive prospect.
Beehive is potentially a multi-billion barrel, dual objective, oil prone prospect in the Bonaparte Basin located in 40m water depth next to the producing Blacktip field. The Carboniferous age objective is a 180km2 isolated carbonate build up with 400m of mapped vertical relief, analogous to the giant Tengiz field in the Caspian Basin. This play type is new and undrilled in the Bonaparte Basin.
Canadian Overseas Petroleum (COPL) is a junior E&P company with a focus on deep water exploration opportunities in Sub-Saharan West Africa. The company’s core asset is a 17% interest in Block LB-13 in Liberia where COPL will be carried through US$120m of exploration expenditure by the operator, ExxonMobil. A high impact maiden exploration well is scheduled to be drilled on Block LB-13 in Q4 2016. COPL also has exciting exposure to prospective exploration assets in Nigeria, Equatorial Guinea and Namibia through its interest in ShoreCan, a 50/50 joint venture with major African conglomerate, Shoreline Energy International.
With the oil price rising, a few investors may be looking for new opportunities to take advantage off in this turn of events. Enter SDX Energy (SDX), a newly listed company on AIM formed by a merger of Sea Dragon Energy and Madison PetroGas which came to the market on the 20th of May. Whilst most cocktails are drunk by the pool in holiday resorts in Egypt, this looks to a perfect mixture of an exploration company with assets already in production.
A familiar theme of recent ventures on AIM involve raising cash then acquiring assets. This new combination is already ahead of the game, bringing with it already two producing assets
The CEO, Paul Welch, has brought some enthusiasm to the AIM market. The recent placing raised of $11 million was oversubscribed and given the company the opportunity to double its existing production and triple its reserves. Not just content with seeking investor funding, the directors also got involved.
Obviously this story unfolding caught our attention so we took the time to pose some questions to the company which they kindly answered.
SDX Energy is an international E&P business based on low cost production growth combined with high impact exploration.
SDX Energy is an Egypt focused production growth story with transformational exploration upside, formed in October of 2015 with the merger of Madison Petrogas and Sea Dragon Energy who are now listed on TSX-V and AIM. Their intention is to increase shareholder value through growth in production, reserves and cash flow.