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Bubble point point wrote "ITS BROCKHAM not BALCOMBE,"
The point of my post was in response to Ocelot's line;
"Balcombe is a promising horizontal well into the Kimmeridge so may have implications for UKOG."
Ocelot appears to be trying to make a general implication about the Kimmeridge and how it impacts UKOG.
We know that UKOG have acknowledged that both Broadford Bridge and Horse hill Kimmeridge are not commercial.
I am highlighting Angus previous experience with the Kimmeridge which they gave up on at BALCOMBE.
Will the Kimmeridge be found anywhere commercial based on all theses and other companies previous experiences?
Appears unlikely to me and UKOG do not now talk themselves about retrying to extract oil from the Kimmeridge by any other means or technique.
Sanderson had his general theory of enormous wealth (retiring to the Bahamas) based on his continuous oil deposit theory ;COD.
Unfortunately its 'tight' and UKOG seem no longer interested in the COD as evidenced by their preference for spending money in Türkiye instead, rather than on using new techniques at BB.
The Kimmeridge dream is dead.
TICKKKKK tockkkkkkkkkkkk !!!!
As for PPP, they (Leni Laughing" gas) is just as much a liability and this confetti manufacturer is.... and has NO chance of setting foot on Donkey hill to drill.
Adrian,
Still a complete waste of skin.
Reported and binned.
Again.
Oh Adrian
You can only tell porkies can't you, never the truth. They can only drill another 4 wells and one of those will only give them less than 50% if the deal with PPP ever goes through which is highly unlikely.
Adrian
Just because I sometimes drive the other half's e-car I'm not as green as you are and we don't have swamps out here unlike the mud pit you love playing in at HH.
Adrian
You tag teaming again? SP not doing your 10m+ shares any good with worse to come. But then again you and Pboo have a lot in common.
Pboo
7,366 posts about O&G. Complete ignorance, serial loser and personal attacks on any one who says it as it is. You keep saying you are not invested here but we all know you have taken a big hit from 8p all the way down to what it is today. You really are a sore loser. Think it is you that needs to get a life.
9629 rubbish posts all about UKOG
You need to getba life ibug.
Ocelot
Does that mean you are including all the O&G assts as non-core? The only problem being is the de-commissioning costs any buyer would have to pay when they realise they have been ripped off.
Much bigger company but Petrofac's RNS of this morning included this paragraph:
The Company has engaged and remains in discussions with its lenders to restructure its debt which would result in a significant proportion of the debt being exchanged for equity in the business. It also continues to be in discussion with prospective investors and certain major shareholders in relation to potential further investment in the Company and remains in negotiations with prospective purchasers regarding the sale of non-core assets, as set out in recent announcements. All options remain under consideration.
UKOG still owe RF/YA about £500k which is now nearly a third of marcap. It doesn’t look to be sustainable to keep on buying and selling 6% of marcap shares for either party.
I wouldn’t be surprised if a deal was done where UKOG pays them off for say £350k. It would of course have to be part of a larger multi-million fund raising which I suspect is coming as UKOG currently can’t afford to peruse any of its dreams.
13 Mar 2024 09:29
Future conversion of these Equity Shares by the Investors will further reduce the principal balance of the £2 million gross first cash sum received below the prior £0.66 million figure announced on 23 January 2024.
Anyone care to guess when the next "Loan Reduction via Equity Share Subscription" will be given that YA are getting through about 155m shares a week?
ITS BROCKHAM not BALCOMBE,
Https://www.supremecourt.uk/news/future-judgments.html
Should have checked the website myself rather than believe ocelot.
All those "slugs" of water are very promising. Makes me wonder why it has taken so long to do anything there.
2018 "the company said it had encountered unexpected water and ran out of time to do more than two tests because equipment had failed........
In a statement to investors, Angus said this morning it believed it could isolate the water-producing zone and establish commercial production at the Balcombe well under normal pumped conditions."
They have been slugging it out ever since.
Sound familiar?
Ocelot wrote "Balcombe is a promising horizontal well into the Kimmeridge so may have implications for UKOG."
Have Angus changed their tune since 2022?
Angus RNS dated 27th April 2022
"Update on Brockham Oil Field
The Company is pleased to announce that the Planning Committee of Surrey County Council today passed a resolution to approve the Company's plan to abandon the Kimmeridge layer and reperforate the Portland layer in well BRX4-Z subject only to a unilateral undertaking to secure a routing agreement on HGV movements.
Angus' existing Environment Agency permit requires minor variation to allow production from the Portland as opposed to the Kimmeridge in this well and the Company is in discussion with officers of the Agency in this regard. Following such variation the Company would proceed to reperforate at the earliest opportunity."
"..the Company's plan to abandon the Kimmeridge layer.."
No surprise after their 28th June 2019 RNS;
Extract;,
"it is extremely unlikely that commercial hydrocarbon flow can be established from the Kimmeridge layer at Brockham.."
Ocelot how much you down on this total dog share?
You still going to try and ramp it when it goes bust?
What is your reason to be here on this board?
Angus is also awaiting a decision, as to whether Frack Free Balcombe can appeal against their extended well test at Balcombe.
This decision, too, could be made at any time.
Balcombe is a promising horizontal well into the Kimmeridge so may have implications for UKOG.
Really??? He seems pretty hopeless but then maybe he is a bit behind the times. Maybe someone who is a bit more media and new tech savvy and not so Brianless...
Oceloy
There have been a number of weeks mid term when no judgements have been announced for the next week. Why don't you take your very feeble excuses and stick them?
We're too close to the beginning of the new legal term this Tuesday, no judgements have been announced for next Wednesday.
Adrian must've bought more, because of all his financial acumen.
UKOG
@UKOGlistedonAIM
HORSE HILL LATEST: UKOG planning a downhole pump changeout and scale removal programme to enhance oil production from HH-1. Further updates to follow.
12:52 PM · Feb 12, 2024
·
2,330
Views
https://twitter.com/UKOGlistedonAIM/status/1757024776575435197
There is no reason whatsoever that the Court case effects the planned work so why hasn't it been carried out? The mugs can shout all they like about Finch and the Court case but UKOG even said themselves that permissions were in place to carry out work on the HH-2Z re-injector. They just don't have the cash to do it.
I take it he has been back ramping this dog? He is under water by his own admission, the buy in's he’s posted! it’s continually dropped, why would someone deliberately continue to try and lure others, into this ever decreasing SP and indeed the company itself? Only to try and escape at the expense of others by trying to raise a pump and dump…
Save on the ink! Just
Mug!