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Uk Oil & Gas Share Chat (UKOG)

Share Price: 1.075Bid: 1.05Ask: 1.10Change: -0.05 (-4.44%)Faller - Uk Oil & Gas
Spread: 0.05Spread as %: 4.76%Open: 1.125High: 1.125Low: 1.075Yesterday’s Close: 1.125

Share Discussion for Uk Oil & Gas

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Posts: 544
Premium Chat Member
Opinion:No Opinion
RE: Self Funding
23 May '19
Reserves based lending should be an option once the two horizontals are producing
Posts: 2,910
Opinion:No Opinion
RE: Self Funding
23 May '19
Not a dickie bird singing this morning
Posts: 4,286
Opinion:No Opinion
RE: Self Funding
23 May '19
1. It is normal industry practice to risk share projects
2 if you have multiple sites and operations then you can proceed on the ones where permits are in place . Build and retain a core team of workers
3 the jigsaw pieces are fitting together
4 the flow tests are not the same as a horizontal production well. That’s why he hasn’t put out the CPR. This was explained at the AGM.
Posts: 564
Opinion:No Opinion
Self Funding
23 May '19
I remember same time last year same place people arguing ukog will be self funded with EWT unfortunately has not happened due to multiple reasons.

A. Dont hold 100% of HH.
B. Flow not high enough.
C. Have too many interest in different places so money is diverted.
D. No profits yet.

4 wells will be funded via dilution or loan if they could get it. If they could get all the wells in full flow over 12 months then FY20 could be partially self funded.

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