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Proactive news summary: Horse Hill, Gemfields, Motive Television, SolGold and more.
Big news at the Horse Hill discovery well, while Motive Television breaks the US and results from SolGold's latest drilling.
Company
LON:UKOG
UKOG focusses primarily on oil and gas assets located in the Weald Basin in southern England where oil and gas drilling has been taking place for well over 100 years. Modern technologies have dramatically altered the methodology of the business – and subsequently drastically reduced the environmental impact for local communities and residents. Get your cbd oil delivery from USA UKOG, thanks to its policy of investing in expert advice from the world’s major analysts, is leading the way in ensuring that any oil and gas developments are conducted with full respect to the countryside and a determination to preserve the well-being and way of life of local residents. UKOG’s shares are listed and trade on London’s Alternative Investment Market (AIM). The current portfolio includes eight oil and gas assets held under Petroleum Exploration and Development Licences (PEDL). All assets are onshore. The Company is well funded and plans to grow its core UK Weald business with a programme of development and acquisition. Our technical team is driving the “proof of concept” for the new and potentially significant Weald Kimmeridge limestone naturally-fractured oil play, demonstrated by the successful Horse Hill-1 exploration well.
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Big news at the Horse Hill discovery well, while Motive Television breaks the US and results from SolGold's latest drilling.
It is a good looking result, there's no getting away from that. Now, here's a quick guide to what we now know about Horse Hill, the so-called 'Gatwick Gusher'.
Below are the main news-driven share price changes at 1.00pm.
A seven hour test yielded initial unassisted flow rates of 463 barrels of oil per day from one of two intervals in the well’s deeper Kimmerage limestone play.
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China Nonferrous Gold said non-executive director Abuali Ismatov has today resigned from the board for personal reasons.
Main share price risers and fallers in London at around 1.45pm
One of the most eagerly awaited tests ever onshore in the UK has got underway near Gatwick
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Shareholders signed off Shell’s acquisition of BG.
Chairman Neil Ritson says Arreton “looks very attractive as an early opportunity” within the new licence.
A new assessment of a British Gas well from 1974 has defined some 219mln barrels of oil-in-place.
Investments and investor services
The FTSE 100 dropped over 2%, ending the day around 150 points lower at 6,093.
A 30-day testing phase can answer some of the key questions over the high profile oil discovery near Gatwick airport.
The Footsie backtracked 115 points to 6126 amid weak Chinese manufacturing figures
Investments and investor services
The Footsie fell 115 points to 6126 on downbeat Chinese manufacturing data
Read it and weep blue-chip backers: the AIM 100 trounced the FTSE 100 in 2015, and sported some sensational performances.
Solo’s new licence covers an area of approximately 200 sq km covering five part blocks
Among the recipients are London quoted IGas, Ithaca Energy, Europa, Egdon Resources, UKOG, and Solo Oil.
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On the week where Brent crude fell below US$40 a barrel, there was a few corporate smatterings and UK project Horse Hill was once again in the frame.
With Angus coming to market there will be SEVEN different Horse Hill stakeholders listed on AIM.
88 Energy, Cairn Energy and Lekoil also had news out this week
Investments and investor services
Ferrex, Oilex and Allergy Therapeutics also had news out on Monday
The flow test will be the first stage of quantifying exactly how much oil the ‘Gatwick Gusher’ actually contains and how much is commercially recoverable.
Investments and investor services
The FTSE 100 Index fell 29.28 points to 6239 in early trading
Holmwood is next door to UKOG’s high profile Horse Hill project, and the company expects it will yield insightful data for the emerging tight oil play
Small cap firms were boosted by fast-track news, as the pace picked up for key projects.
Investments and investor services
The FTSE 100 ground out a ‘flat’ close to a rather ordinary Wednesday
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Asiamet saw a resource upgrade, Metminco got a boost in its partnering efforts and Sound Energy's teamed up with Schlumberger
The FTSE 100 Index reversed early losses to stand 31.75 points ahead at 6376
Petrol heads were in the news today as, much like its formula 1 car, shares in Ferrari were gone in a flash.
The Horse Hill-1 flow test will be a key milestone for the controversial project.
Investments and investor services
The FTSE100 pushed on throughout the afternoon, ending around 40 points higher to 6,378.
Investments and investor services
Miners and oil firms dominated the day’s small cap news
Footsie rose 28 points to 6,366 on hopes that US will delay interest rate hikes
Investments and investor services
The FTSE 100 Index lifted 41.06 points to 6379 in early trading
Explorer gets extended permission for Markwells Wood well until September 2016
Investments and investor services
There was a lot of news from the small cap space today
The study suggested development would be through a multi-well pad with 12 horizontal production wells.
The consortium now has planning permission for both the surface site and the underground drilling corridor.
Investments and investor services
In London, the FTSE100 ended 82 points lower to 6,104, after a bizarre moment earlier in the day.
Investments and investor services
ictoria Oil & Gas (LON:VOG) has won the title of small cap ‘Energy Company of the Year’
Markets see Fed rate hold as sign of concern about China and global economic woe
Cartwright has already been “significantly involved” with UKOG, as a consultant
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Gem Diamonds was just one of many news items on a busy day in the small cap universe.
Reservoir simulation showed well performance is similar to the producing wells at the nearby Horndean field.
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Interest among retail investors in AIM stocks is rising, official data shows
The key question is how much oil can be recovered, and by what means?
Investments and investor services
A flurry of announcements from the consortium involved in Horse Hill got investors excited today.
Oil services giant Schlumberger suggest there are 10.99bn barrels of crude across the 55 square miles near Gatwick Airport owned by the explorers.
It is in the national interest according to Lenigas
Investments and investor services
Interims from esure were, to coin a phrase, a car crash. Vedanta rises on news that the recommencement of mining in Goa is a goer.
“We are pleased with the planning inspector’s decision,” said Hugh Mackay, chief executive of Europa
A planning decision is expected in the coming days for the Holmwood project
Production updates, junior funding deals and new opportunities, so, just another week in the oil sector then
Lenigas, a vocal exponent of UKOG and the Horse Hill oil discovery, will be retained as a consultant to the company.
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The UK benchmark closed over 21 points to the good at 6,630, with BP top dog, with its shares adding 4.69% to 438.80p.
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While the world’s stock markets fretted over a possible exit from the Eurozone by Greece, life went on much as normal for the small caps.
A lot of today's news is not only "Greecy" but oily too.
UKOG is teaming up with Egdon Resources and Europa
Investments and investor services
Plenty of scope for confusion today, with similarly named companies vying for attention with UK onshore oil developers.
Horse Hill may be analogous to well-known US ‘hybrid’ plays such as the Bakken, Wolfcamp, Bone Springs
Investments and investor services
It was a busy day in the world of small caps with a number of eye-catching stories.
The Isle of Wight may have similarities with the geology encountered at the Horse Hill project
AIM's Galantas Gold and Armadale Capital both enjoyed gains this week while Amur Minerals ascent kept up pace.
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David Lenigas says it is now time for serious work to be done in the Weald basin
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On what was a moderately quiet corporate news day, and as London shares eased lower, clothing retailers, BT (LON:BT.A) and Greece were topics trending on the net.
“I make no apologies for UKOG doing a financing,” Lenigas told his followers
Investments and investor services
Miners and oil stocks took to the stage today on a busy day for small caps.
Investments and investor services
The companies involved in the Horse Hill project near Gatwick dominate the risers today.
Schlumberger says the oil project could comprise 255mln barrels per mile, versus April's eyebrow raising 158mln barrel estimate