Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
"Mirasol Do I detect a little bitterness?"
Nope - they came in in a rush and left just as fast. No-one on either side said what went wrong (and something DID go wrong- multi Bn euro outfits don't invest on a whim). I'd guess there was some sort of fundamental misunderstanding about either the deal or the reserves. Whatever it was they will never, ever come back
That should have been: it was 2 months ago (don't know where the "less than" came from!).
It was less than 2 months ago, on 09/02, that Alba's George Frangeskides said:
"the Kimmeridge remains the really big target" at HH.
Penguins
Did poster Sanderson not tell you what would happen in November / December 2019. 100% HH & return to the center of the Weald which I presume is Loksley subject to planning permission from the appeal although the IOW may be first as if correct IOW planning may be before the end of April.
Then Turkey Basur 3 should be drilled before the end of June although this is contracted to there partner operator.
Better not forget the HH site improvements & 2 production wells at HH.
Aren't UKOG going to be busy this year lots going on should mean lots of newsflow.
wizard,
The last Kimmeridge testing was in January 2020 when they performed the Portland interference test between HH-1 and HH-2z and shut in the Kimmeridge, although the decision to not proceed with the HH-1z sidetrack into the Kimmeridge seems to have been made during summer of 2019, when they bought out Tellurian. But they purchased a whole lot of acreage in the Weald prior to that ('grab as much as possible') - quite a lot of that acreage has since been relinquished. The millions proving it didn't work was referring to the Broadford Bridge well.
The question is what evidence is there that the Kimmeridge is definitely working? Not bothering to deepen HH-2 to get decent logs, no sidetrack or dual completion to HH-1, and the plan to drill another test to determine the lateral extent of the Kimmeridge oil pool (perhaps they meant find a productive Kimmeridge oil pool), will be after another Portland well seems to say otherwise
Penguins
As far as the Kimmeridge being a dud & buying partner's out before it is proved is more of your utter rubbish.
The Kimmeridge flow tests were probably completed by early 2019.
Following that from memory SS bought a further 6% of HH from Dorimous then a extra 35% of HH from Tellurian giving almost 86% at the point of the grant of the planning for the production for 25 years with 4 more wells.
Penguins
I think this link may clarify the situation.
https://en.m.wikipedia.org/wiki/Northern_Syria_Buffer_Zone
Penguins
I did ask you about the 'green zone: marked on the Genal website map in Northern Syria but you did not answer.
The answer is:
It is my understanding that the area is being annexed by Turkey & may open up the area ajoining the border with Northern Irak Syria & Turkey which is obviously now a proven oil production area as you can see on the Genal website.
You have choises ahead of you for your investment if that is what you believe.
Gl.
Kammi,
I've heard it all before, months of BDI, Treeasabird/FOTH, Rodders etc..
I must have been terribly mistaken thinking anything was wrong - while the SP dropped 98%.
Wizard,
'Houthi rebels are laying siege to key Aramco oil facilities…'
It's a troubled part of the world.
But don't worry about Saudi, UKOG aren't involved there - but Kurds in Turkish Kurdistan, south-east Turkey, where Resan/Basur is, might up their efforts for independence - I think that's what gulango (?) has been hinting at.
I'm guessing the Turkish government won't be too keen so there may be trouble ahead.
'but in nearly all of the cases they were investment companies not operators like UKOG'
isn't that the idea of investment companies - to invest in other companies, and not all of them were investment companies anyway - they just wanted out.
UKOG should have done what AME have done to UKOG - get someone else to take the risk, I guess nobody was interested. Instead greed took over, unfortunately trying to grab as much as possible of what appears to be a disappearing Kimmeridge play before it was proved to work - in fact spending millions (that investors paid for in a disappearing SP) to prove it didn't work.
Mirasol
Do I detect a little bitterness?
Penguins
You & several other posters comment on UKOG buying out it's partners but in nearly all of the cases they were investment companies not operators like UKOG & AME are now so probably a better balance.
Penguins,
Who cares, you keep posting negative posts many times a day. Water of a ducks back. We are making money here and a lot of it. While you probably get 10 p a post. Hahaha.
...and UKOG are paying 100% of all the costs at HH, Loxley and Turkey (initially) and nearly that in the IOW.
Not the best way to go about exploring - but maybe nobody else wanted to pay for drilling the wells with the risk involved.
100% of the reward at HH would have taken a long time to pay back what hey've spent finding it - but 'luckily' they destroyed the SP instead.
they could just buy the whole company Wizz - or offer shares that actually have some value to AME if they don't want euros
Anyway the French walked for reasons we'll never know - but I suspect they had a chance to deal with SS and didn't like what they saw
mirasol
You seem to forget AME is a private company so they can not just buy shares.
UKOG is a lot further down the track now having 86% of the HH licences, 95% of the IOW licences, 100% of the PEDL 234 licence and 50% of the Resan licence probably with more to come.
Should they show an interest I am sure that UKOG will rerate to fair value or a premium in fairly short order.
why would they buy into UKOG? They could go straight to AME and do a deal. And the French were big enough to take out AME without emptying the petty cash jar
Does anyone remember what happened to the French Investor who helped drive the SP up to 11p 3 and ahalf years ago,and why they sold up ? .. What with our Turkish investment and the SCC overturn {imo} coming up, l wonder if they will want to get back in again.. any idea chaps ? Good Luck to all UKOG share holders....