Interesting day for the UK oilers . today`s reaction is not overdone as the results so far inconclusive , although it seems to me they have done exactly as the RNS`s have prescribed thus far .
Therefore gas at the bottom expected in large quantity .
The Weald Basin is one of two productive basins in southern England , with oil and some gas production
from Jurassic and Triassic reservoirs. It lies to the northeast of the Wessex-Channel Basin and has oil field production
from Brockham, Goodworth, Horndean, Humbly Grove, Palmers Wood, Singleton, Stockbridge and Storrington, and
gas production from Albury.
To date (February 2014), 117 exploration, 31 appraisal wells and 100 development wells have been
drilled in the Weald area, and of these, 26 wells are classed as discoveries or had hydrocarbon
indications (Table 4). Thirteen fields are currently in production, plus the historical oddity of
Heathfield gas lighting the local rail station. Over the 24 years when exploration was most active
(1980-2003), there were 72 exploration wells drilled and 18 discoveries made, 12 of which are now
in production, so a 25% technical success ratio. Onshore exploration is significantly cheaper than
offshore, and although this rate of success is comparable to the UKCS, the size of the discoveries is
A creaming curve for the Weald Basin (Figure 7) does not exhibit the flattening-off characteristic of
a mature basin. There has been little exploration drilling in recent years. Indeed, since 2004, only six
appraisal wells have been drilled, along with 31 development wells. However, wells to test new play
ideas with significant upside resource potential are now planned.
In the United Kingdom, Key has completed a sale of its subsidiaries Key Petroleum UK and Key Petroleum Weald Basin – which owns and operates the two small oilfields, Lidsey and Brockham, in the Weald Basin – to Angus Energy Weald Basin No.1 for £100,000 in cash.
UK Oil & Gas Investments PLC owns a 20% stake in the vehicle, with Doriemus PLC, Stellar Resources PLC and Solo Oil PLC each holding 10% stakes and Regency Mines PLC and Alba Mineral Resources PLC each owning 5% stakes. Angus Energy Ltd, a company in which UK Oil & Gas Investments has a 6% stake, holds the remaining 40% of Horse Hill Developments.
All of the companies were trading down Friday morning. UK Oil and Gas shares were down 26% to 1.16 pence per share whilst Alba shares dropped 20% to 0.918 pence per share. Doriemus shares were down 16% to 0.190 pence per share and Stellar were also down 16% to 0.895 pence per share. Solo Oil shares were down 7.8% to 1.00 pence per share and Regency Mines were down 8.1% to 0.400 pence per share Friday morning.
All of the companies released separate statements regarding the discovery.
The oil was discovered at depth of 1,791 feet true vertical depth and a preliminary estimate suggests there is 3.1 million barrels with the possibility of a further 16.8 million barrels of oil in a separate sand lower down in the Portland basin, yet this has not been tested yet. Further analysis is underway to establish the recoverable volume of oil that has been discovered, the companies said.
"The presence of a larger, unappraised, Portland feature creates considerable further upside," said UK Oil and Gas, Solo Oil and Stellar Resources Chairman David Lenigas.
On October 16, the project discovered oil shows in cuttings and elevated gas readings in the Portland Sandstone which the Horse-Hill-1 is drilling. These indications have now been confirmed.
The well is now being drilled deeper as the project continues to aim for a Triassic formation believed to have potential gas reserves. The project expects to reach the formation within the next two weeks, said the companies in a separate statements.
"We are now looking forward to drilling the Triassic, which is a new and untested exploration target in the area and which, if successful, may contain appreciable volumes of gas," said the chairman of Doriemus and Stellar, Donald Strang.
By Joshua Warner; firstname.lastname@example.org; @JoshAlliance
Good luck all whom have invested here .
Statement from Cuadrilla Resources about Shallow Gas in West Sussex
When Cuadrilla drills its water monitoring well and the main exploration well, we expect to
encounter gas bearing ground water at approximately 170 ft below the surface. The occurrence of
these gases in the shallow ground water predates any oil and gas exploration at Balcombe and is
consistent with a regional pattern of shallow gas (Figure 1). Because of the composition of the
gases, they are most likely derived from deeper strata.
The presence of pre-existing thermogenic gas within the Ashdown Beds, a low productivity aquifer,
at this well location was indicated by the first well drilled in Balcombe in 1986 by Conoco. The well
encountered natural gas in the Ashdown Sandstone at a depth of about 170 ft below the ground
surface. At this point the well flowed 150 barrels of formation water which contained natural gas.
The associated gas shows included quantities of Methane and Ethane (Precisely 54,910 ppm CH4
(Methane) and 1,335ppm C2 H6 (Ethane)) (Conoco, 1987, p 2.2). There were also quantities of minor
gas seen in the overlying Wadhurst Clay. The well record for the first Balcombe well over this depth
interval is shown in Figure 2. During the drilling, testing, and abandonment process of the water
monitoring well and the main exploration well the gas bearing groundwater will be contained below
ground so there will only be trace emissions and no impact on water quality.
It is not unusual to find natural gas at shallow depths in West Sussex. Another Conoco well at
Southwater-1, drilled in 1986, also encountered natural gas in the Ashdown Sandstone at a depth of
1200 ft (560ppm CH4 and 10ppm C2H6) (Conoco 1986).
The largest known natural gas accumulation in the Weald was made in the Bolney-1 well, 3.7 miles
south of the Balcombe site. This well was drilled by ESSO in 1963 and encountered the Ashdown
Sandstones between 432 and 470ft MD. These sandstones were found to be gas-bearing between
435-448ft MD and produced 650 thousand cubic feet of gas per day (Esso, 1963). These
observations are consistent with other records of shallow natural gas in the area. The earliest
reports of onshore hydrocarbons in southern England come from the Sussex area. A shallow water
well at the Heathfield railway station that reached Kimmeridge strata encountered gas (Hawkes et
al. 1998, Hoar and Upton, 1972, p. 25). Subsequently the well produced 1000 cubic feet/day of
natural gas and was used to light the railway station. The news of this shallow gas was even
reported in the United States (New York Times, 1902)
and a little more , for your delight
Coal seams were discovered when test boring for an early proposal for a Channel Tunnel at Dover in 1890. This led to the development of four deep mines in the Kent Coalfield in the early 20th century. The inversion of the Weald Basin throughout the late Cretaceous and early Tertiary resulted in the formation of the Wealden Anticline and a number of smaller anticlines within the larger structure. The discovery in 1897 of natural gas while drilling for water at Heathfield railway station provided fuel for the first natural gas lighting in the United Kingdom.The existence of the same strata within the Weald basin which are the source rocks for the Wytch Farm oilfield in Dorset led to an interest in the petroleum potential of the Wealden anticline, with exploration taking place on Ashdown forest examining the Ashdown Anticline, a large structure over 30 km long x 7 km wide, located in the centre of the Weald Basin in north Sussex; significant quantities of natural gas were found but oil was absent. Oil and gas have subsequently been found at a number of sites in the Weald including Singleton and Storrington in West Sussex, Godstone and Lingfied in Surrey, and Cowden in Kent. In 2009 remaining recoverable oil reserves in the Weald Basin were estimated at one and a half million tonnes. In 2010 the Weald Basin contributed 18% of onshore gas and less than 5% of onshore oil production in the UK. As of August 2013 there was significant opposition to hydraulic fracturing developing in southeast England centred on Balcombe where an exploratory well was planned and the Balcombe drilling protestwas in progress. The Weald Basin has yielded significant quantities of gypsum from Jurassic Purbeck beds and a number of brickworks exploit the lower Cretaceous clays.
And May history repeat .