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Think UKOG management is showing signs of having become more market "savvy".
They've got the market guessing about the timing of the next placing and they wrong-footed TW this last Monday: his article was certainly premature and may prove to be quite simply wrong.
"the precise timing of the next placing has now become anybody's guess."
LMAOoOoOoOoOoOo!!!!
:''D
Having got this far without a fundraise, the precise timing of the next placing has now become anybody's guess.
It will be in the "near" future, that is for sure, and could be any time, but does "any time" fall in the coming week, or the week after that, or the week after that, etc?
Oil companies like 'encouraging' as it gives an excuse to 1) delay the bad news, and 2) drill another well delaying the bad news even longer.
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Penguins, as investors we all exercise our own judgement.
Whilst it's understandable that many posters prefer to post about OP, SP and how easy, cheap and (apparently) quick it is to drill in Turkey because UKOG for some reason have said very little about the Basur-3 well none of these would stop a decent prospect being drilled nor affect the outcome (except OP and that's debateable). If anything it might just mean a poorer prospect is drilled.
So has UKOG participated in this well because it's irresistible because it enables, at least for a short time definite positive news of site prep, rig turning up, spud and even oil show - hopefully, or because it has a chance of being transformational?
No technical information from UKOG about the well they claim they are involved in the design and delivery of:- 'the Company will now focus its efforts in the first half of 2021 towards the design and delivery of the Basur-3 appraisal well' and no expectations of flow rates for a supposed appraisal well of a structure already drilled multiple times with oil shows, and a few hours flow from Basur-1. Though positive oil shows etc have not meant AME, who operate the adjacent E Sadak field and must have a lot of data about the reservoir, were willing to fund the appraisal well.
Seems the twitter P&D team needed to get this share moving are not yet interested, just the B ramping team is here, like touts outside a second division ground, promising discounted tickets and a premiership game.
Ocelot,
encouraging results are what happened at HH, BB and other Weald sites. They weren't that great in the long term.
Oil companies like 'encouraging' as it gives an excuse to 1) delay the bad news, and 2) drill another well delaying the bad news even longer.
Why have they used a mealy-mouthed expression like “mobilised to site” when they could more easily have said “has arrived on site”, which is clear and unambiguous?
The drill was supposed to be completing in January.
https://vimeo.com/484469344 28 mins in.
The Resan-Y well has been put back from August till 2022 according to SS.
Ourjambo, good call mate, the naysaying fraternity do it all the time......twisted facts and fake news..........it's nearly " make your mind up time "......the drill will tell us all we need to know
That was a statement from the CEO. The same guy who flatly denied that he'd ever said there were billions of barrels of oil under the Weald... and then the BBC published its own video footage of saying exactly that.
Fool me once, shame on you. Fool me twice, shame on me?
It is about 1509 km to the site from OCEANMEC ENERGY INTERNATIONAL home base and about a 12 day hike according to google maps.
"This welcome news is yet further confirmation that the pace of operations is far more rapid in Turkey than the UK, taking only 3 months from the start of site construction to the arrival of the drilling rig"
Says all you need to know
Two simple questions.
What does "has now been mobilised to site" actually mean? It does not inevitably mean "has now arrived on site".
Why has AME - which let's face it is the operator who'd actually be deploying and using any equipment on the site - said nothing?
10:04 "Neither UKOG nor significantly AME has said one word about any rig arriving on site".
Your head must be well and truly buried in the sand
Turkey Basur-3 drilling rig mobilised to site
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that following completion of the Basur-3 appraisal well's drilling pad and finalisation of the rig contract, the Oceanmec Karahan ZJ40DZ rig has now been mobilised to the site from western Turkey. As of 2359 hrs on Saturday 19th June, 38 related loads had been received at site. The rig-up and rig-acceptance stage is expected to continue throughout the coming week with an expected drilling start shortly afterwards.
Anyone expecting a 4:30 RNS today? Looks like the frantically brandished Twitter piccies haven't helped much...
I tend to pay careful attention to what's been said... and what hasn't. Neither UKOG nor significantly AME has said one word about any rig arriving on site. And OceanMec has said they are "happy to start mobilisation" (whatever that actually means), while posting some unidentifable video of a tanker going down a road and then some sped-up video, followed by a couple of unidentifiable stills, one of which is clearly a publicity shot.
Overly sceptical? Possibly... but remember we're dealing with a company whose CEO flatly denied he'd ever mentioned billions of barrels of oil lying under the Weald. Except the BBC then provided footage of him saying just that. So, not entirely deserving of instant trust, I'd say...
I do wonder bearing in mind previous history just how many LTH here will throw more money into Sandersons begging bowl?