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Severn Trent CEO Liv Garfield speaking at the Hardman & Co Investor Forum Watch Now

Severn Trent CEO Liv Garfield speaking at the Hardman & Co Investor Forum
TSX Lithium explorer International Lithium Corp prepares to drill at Raleigh Lake


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




View all UKOG Messages

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wizard125
Posts: 1,716
Opinion:No Opinion
Price:1.025
RE: Not The RNS People Wanted.
20 May '19
Good point Mirasol & extra added value later.
 
Mirasol
Posts: 256
Opinion:No Opinion
Price:1.025
RE: Not The RNS People Wanted.
20 May '19
Get the impression that the other KL's are part of the upside - hard enough to figure out the KL3 & 4 - it ain't going anywhere and it's easy enough to add on e once you have a better idea of what the whole system is doing
wizard125
Posts: 1,716
Opinion:No Opinion
Price:1.025
RE: Not The RNS People Wanted.
20 May '19
Mirasol

You are right & that is why the planning permission or permission from the OGA ( not sure which was given until 2021 or 22) but I am not sure about the provisions for this.

Up until now they have not tested KL 1 / 2 or 5.
Mirasol
Posts: 256
Opinion:No Opinion
Price:1.05
RE: Not The RNS People Wanted.
20 May '19
That's what was PLANNED but in the oil business things rarely go that way - until we hear about progress at West Newton we have no idea of when the rig MIGHT arrive - and without a contract it can always go somewhere else first............ the rig company will lease the rig to the first man in the line with cash in hand and a signed contract and I don't blame them - must be a nightmare trying to make it pay onshore UK
Mirasol
Posts: 256
Opinion:No Opinion
Price:1.025
RE: Not The RNS People Wanted.
20 May '19
I can't see any Third party writing a CPR until after the test is finished and ALL the data is in hand - otherwise it'll all be full of "at this time", "on the one hand but on the other hand" etc etc

They'll want to cover themselves against a sudden change just after they issue the CPR when they'd look like idiots.

So allow 2 months after the end of the test IMHO and it will probably concentrate on the Portland - that's the reservoir people understand - I don't think there is enough industry knowledge to be very precise about the Kimmeridge yet.
argus1
Posts: 5,215
Opinion:No Opinion
Price:1.025
RE: Not The RNS People Wanted.
20 May '19
Rig HH was always planned for Q2 2019. April to June 2019. See presentation 2018.
wizard125
Posts: 1,716
Opinion:No Opinion
Price:1.025
RE: Not The RNS People Wanted.
20 May '19
andyrp

I would add planning approval for HH to that list as well.

I think we may still have a while to wait for the CPR as the flow tests are still ongoing & will continue as production tests once
HH1 - y & HH2 are drilled.
andyrp
Posts: 58
Opinion:No Opinion
Price:1.025
RE: Not The RNS People Wanted.
20 May '19
I imagine the only RNS’ people are looking for are as follows:

1) CPR
2) Rig contract signed
3) Drilling of new wells / side track started

Not sure which order but the CPR is high on my list! So whilst the last RNS was positive it did not contain the key updates investors were hoping for.
Oakleak
Posts: 2,048
Opinion:No Opinion
Price:1.025
RE: Not The RNS People Wanted.
19 May '19
DHC, you won't find me leading the SS cheerleader brigade. I guess time will tell if his land grabs come to fruition and multiply the share price by more than he has diluted it. I'm still ok with his timelines on hh2. The rig may well be running late, maybe not. None of us know the complexities of ordering all the kit needed and I doubt if he woke up one morning with a nagging feeling that he'd forgotten to order something.
Ninetails
Posts: 1,476
Opinion:Hold
Price:1.025
RE: Not The RNS People Wanted.
19 May '19
DHC...You have highlighted all the positive aspects of UKOG for a good period of time...it must be hard for you to now see the downside...the last placing was like a kick in the nuts for me...now the rig timescale slipping and complete silence on the reason why...respect to you for showing your feelings when things are not what they seem
Doubleheadedcoin
Posts: 9,057
Opinion:No Opinion
Price:1.025
RE: Not The RNS People Wanted.
19 May '19
Evening Oakleak,

Can I just take you up on just one of the perfectly valid points that you make which is this one.

"If HH2 spuds in June then SS's officially communicated timeline is still in tact."

In the interview previously he said around April time, then there was mention of Spring and on the 11th April at the AGM statement the following was said by SS.

"We remain fully on track to drill new horizontals in the second quarter of this year and are even more confident that the new Portland horizontal well can achieve its 720-1,080 bopd target."

That to me said both in Q2 so the timeline is well busted. Now its get to 50,000 barrels which by my reckoning is 20 days of 1 tanker a day, weekends and any further pressure tests excluded) so 4 to 5 weeks, then Rig then HH2 drill.

In a way it has told me a week earlier than what my timeline was for reducing if there wasn't any satisfactory progress re the Rig coming on site.

Maybe if he did have skin in the game in the form of shares instead of options there might be a more focussed approach on delivering things as per what you have previously stated and led shareholders to believe.

I watch many shares and CEO's speaking and one of my favourite CEO's at the minute is the GENL CEO Bill Higgs who comes across as genuine and sincere and he has hit the nail on the head recently with many things he has said and done. Firstly, only last week he invested £75,000 of his own money in the GENL stock. Secondly and as importantly, if not moreso, he recently in answer to a question on Proactive Investors interview when he was asked recently what he brings to the party he said the following: 1. Very good at finding value. 2. Its about delivering. 3. Its a lot about Integrity and 4. Creating Predictability for Investors so what you see is what you get.

What have we had here in recent months to put the share price where it is. An interview in January in which the words potential to multi bag were mentioned and we were climbing and at 1.8p. Thereafter several share creation exercises for licence percentage deals at successively lower levels and as if that wasn't enough culminating in a further out the blue £3.5 Million quid fundraise with more shares issued.

I'll leave you all to decide for yourself how you would transpose these 4 qualities across to SS. I have my own view.

Quite a few of those might be admirable qualities in attracting people to invest and to stay put.

This is not a plug on GENL. The interview should anyone wish to view it I posted over there on Friday. About 3mins 50. "What are you bringing to the party?"

Just imo
warik
Posts: 564
Opinion:No Opinion
Price:1.025
RE: Not The RNS People Wanted.
19 May '19
I dont think its going to change anything by worrying or panicking as SS or whoever responsible is not going to do any faster.

If the rig comes in August are you going to sell? if no then just got to live with it.
Mirasol
Posts: 256
Opinion:No Opinion
Price:1.025
RE: Not The RNS People Wanted.
19 May '19
Maybe I was correct when I said end June at the earliest and the BDF28 from West Newton -

I 'm now worried that this may slip even further - we haven't seen any progress report from W newton which suggests to me thing there may be slipping to the right ..............
Ohmetoe
Posts: 359
Opinion:No Opinion
Price:1.025
RE: Not The RNS People Wanted.
19 May '19
I thought the RNS was half decent for a change whereas some of the previous ones have been half baked to say the least. Still think this SP is due a bull run even tho the threat of dilution still remains as strong as ever. I still chortle at SS interview on the core claiming the train has left the station, looking back that was stated way to early and now looks a riduculous statement.

False claims like that will always damage confidence.

Next RNS i expect to see some meat on the stick
Oakleak
Posts: 2,048
Opinion:No Opinion
Price:1.025
RE: Not The RNS People Wanted.
19 May '19
DHC this is the exact reason that the sp drops after every decent RNS because lots are waiting for a real materialistic changing update. Positive statements on the resources under ground as per Fridays rns don't seem to cut the mustard anymore so they move off chasing other rainbows. If HH2 spuds in June then SS's officially communicated timeline is still in tact. I agree that there has been an F up somewhere in terms of the rig hence the application to the oga to increase the allowable limit and keep testing in the interim.
Whatnonewsyet
Posts: 633
Opinion:No Opinion
Price:1.025
RE: Not The RNS People Wanted.
19 May '19
Did SS give the rig to Lucan for a sweet deal? Hence the delay! It would make sense for UKOG to get a piece of Brockham.
warik
Posts: 564
Opinion:No Opinion
Price:1.025
RE: Not The RNS People Wanted.
19 May '19
I don't think SS read his previous RNS before writing a new one probably forgets what he said a month ago.
Doubleheadedcoin
Posts: 9,057
Opinion:No Opinion
Price:1.025
RE: Not The RNS People Wanted.
19 May '19
I wouldn't normally switch shares but 4 to 5 weeks is a long time in terms of the markets and in that time I can hopefully make back some of anything I have lost thus far.

I'm really disappointed that we are only now finalising on what was previously being finalised at the time of the AGM statement. Not even an imminent arrival date on the cards.

Just Imo
warik
Posts: 564
Opinion:No Opinion
Price:1.025
RE: Not The RNS People Wanted.
19 May '19
I think as 50000 is a milestone maybe that's why also they want to get as much money as possible I think.

Rig was originally planned for early 2019 so I dont believe anything as they are always behind also long term production will be around beginning of Q2 of 2020 rather than winter.
Doubleheadedcoin
Posts: 9,057
Opinion:No Opinion
Price:1.025
Not The RNS People Wanted.
19 May '19
The way I see it.

Well after 5 weeks of patiently waiting with complete radio silence the latest RNS has delivered a chop at the knees for many still holding, that being on top of previous falls from 1.08p to 1.05p.

The way I see it is this:

From my maths if the aim is to get to 50,000 barrel from 45,500 then that left 4500 barrel to be laving Horse Hill on the tankers. That therefore equates at 220 barrels per tanker to being 21 or 22 tankers. Then take off the one tanker that left after the RNS on Friday says 20 or 21 tankers still to leave.

If it is say 1 tanker per day average shipped Monday to Friday only, then that equates to roughly 4 weeks of further waiting and that can be stretched a further week again with another further pressure build up test or two.

Around the end part of June / beginning of July time now seems far more likely now than the "around April time" that was mentioned in the below linked radio interview (1 min 56 onwards)

https://www.youtube.com/watch?v=sP-xrHdwwfQ

Somewhere in all of this somebody has gotten distracted, taken their finger off the pulse and not delivered what they said on the tin / interview.

Just imo




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