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We will see on Tuesday
Maybe hh2 if all is ok and open up theChokes for the proper flow test now lockdown has eased a bit and oil prices are higher..
"which one first?"
As discussed below I'd bet they go for the HH2z first - they don't want to risk screwing up their producer before they have a second string to their bow.
Ok so hopefully come tuesday lots more work will begin on increasing production from both wells..which one first?
MR SANDERSON has no reason to keep share price low or sustain what is called a lifestyle company by some on here and twitter...I'm sure he would much prefer a successful outcome of all ukog projects and to make a successful company that will be far more valuable to us all and satisfying than some of you might like to think and be worth a lot more money to shareholders.. and a lot more satisfying to him personally and professionally
What a load of old poni !!!! If SS want us to believe ‘His Dream’, I suggest he uses some of his pocket money to buy into it. We all know how deep his pockets are, he’s taken enough cash out of the company to stuff them full !!! - reminder to the blinkered - this is YOUR money that is funding his lifestyle.... I get this vision of him running out of the station with a suitcase bulging with cash. Remember the film ‘The Ladykillers’ - His performance is just like an Ealing comedy...
'surefire winner within a few years'
More jam tomorrow then
"Basically give investors the information they need to start to assess the value of the company"
Agreed - but NOT WELL RATES - we need total forecast PRODUCTION TOTALS - Angus pulled the wool over everyone's eyes at Brockham using rates. AS you see Penguins - they have the numbers in the FDP - it doesn't take any work to share them. Then we can judge if people deserve bonuses or not next year.
is a RNS that clearly sets out:-
1) what long term flow in numbers is expected from HH-1 Portland - as UKOG have FDP approval they have this number but seem shy to tell their investors.
2) what long term flow is expected from HH-1 Kimmeridge also in numbers - whilst still to request FDP approval from the OGA they have tested the well for a long time and as other posters pointed out produced a lot of oil from the Kimmeridge - they will have a pretty good idea of what it will be - a range would do.
3) A proper indication of expected flow rates from HH-2z which should be apparent - even what current rates are with any provisos would be nice - and if it isn't being ewt'd as some believe, despite the RNS stating it had started, and the indications previously that it would be a 90 day stable flow ewt, have the cajones to say why it's not flowing. Anything but 'significantly more' or 'greater' than an unspecified number.
4) When they will drill further wells at HH and how will they be financed (RBL, CLN, placings, 'profit from oil sales'), and if RBL confirm when a CPR will be commissioned. End of June will be half year reporting to end March - though no production from HH just oil sales but should give a more up to date view of the finances.
Basically give investors the information they need to start to assess the value of the company. He was certainly prepared to predict potential reserves and values 18 months ago, although not in an RNS - a lot has happened since.
But he certainly isn't a superhero oilman - continually failing to meet his own plan and 'fire fighting' rather than being prepared for the inevitable problems along the way, silence or vague RNS the preferred communication channel. To praise him for essentially 'doing his job' managing others to solve his problems is undeserved. The test of how successful a company is, and thus it's BOD, is it's market cap. Whilst £300+ million was not a fair starting point is less than £20million right - the problem is apart from those that think nothing has changed (while everything seems to have changed) there is no way currently to place a value on UKOG except the 'market's' valuation.
If instead the next RNS is more talk of other opportunities, IOW, Dunsfold - even A24, and waffle about HH rather than detail will it be tin hat time?
Lets be honest, this company is CRAP
SS has already taken action regarding the Covid 19 situation, and I am quite happy to await a rise in the price of Brent Oil to increase our profit from around £150,000 per month based on the price of $34 a barrel. I will be happy when we start to do the long term testing again on our H2z well, and will be content for production to rise 4 tankers a day in total. IMO only.
GLA.
"But the wise are buying your cheap shares"
We're fine boys & girls - Gandalf, and the Fair Eleven Folk of Lothlorien are buying in
pennydealer - 17 Apr 2020 18:15 " Looks like my 0.17p buy in will soon be a reality."
PD - Still waiting for reality ???
Why would anyone sell shares for a loss, over a two year period, just to bring the average price down so believers could buy in?
Lolol.
Please.
:)
The thing about SS is he does exactly what is necessary to accomplish his and the Boards aims - long term production at very profitable levels.
No messing about like some of the apologists who think they can be successful CEOs in other small oil exploration companies. If he needs to raise money he does, If he needs to correct a water ingress problem he does, If he needs to co-mingle he does, if he needs to make interventions he does, If he needs to put in ESPs he does and so on. He puts everything in place including new technology, injunctions, Planning Approvals and everything else required.
Very proactive approach and we all know the eventual success WILL come, not primarily for todays or tomorrows short term rise but for the fundamentals for the future of UKOG and its shareholders or should I say sharegolders.
There is no one powerful enough to bring this company down, Enough have tried and failed like all the disbelievers who have peddled their rubbish for years - when your a failure you blame anyone including the Management- and if your not invested here you have other ulterior motives on this board. FULL STOP.
But the wise are buying your cheap shares even if you are selling to try to lower the share price deliberately to cause failure because they know this is a surefire winner within a few years and the blackstuff will flow and will be gold again. Worth every penny.