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Think the best way to make money from this is to sell the shares if you have a lot of them demand it be paid in pennies and melt them down and sell them to a metal dealer
The problem, as I posted earlier, is that reporting of testing by AIM oilers (and almost everything else) leaves a lot to be desired.
The issue here is that Angus has avoided mentioning how long the two flow periods were and what volumes of oil were produced.
I found this in the planning application in late 2019, WSCC/071/19:-
'2.1.4 During the flow periods, where oil was being produced to surface , the well eventually died and returns went back to 100% water.'
That's consistent with the downhole pressure being insufficient if the test tubing is filled with water not oil.
Despite initially suggesting that the well had intersected a water bearing fracture the current opinion is that 'drilling fluid remains in the well' (from the planning statement) - and the first action on returning to the well will be removing this.
In the planning statement they state the maximum rate of flow was 1599.6 with an average of 6.63% water, the oft used mix of a maximum and an average, though elsewhere they state (RNS 2/10/18) 1587bopd, suggesting a water cut during tthe maximum of less than 1% . Given at a maximum rate the water cut was less than 1% and when the well died it was 100% it would be interesting, if not tedious, to attempt to devise a scenario where there was an average of nearly 7% water during, presumably, the period of the test - but my bet would be an extremely rapid drop in rate and rapid increase in water cut. If there had been a significant volume of oil surely Angus would have mentioned it.
This company has been dying a very slow death since 2018 so not sure what you are talking about - you must be relatively new to UKoG. It is actually amazing how long they managed to keep this sham company going.
Hey Bubble, I bet you wished you bought Angus in the 3's when you had chance, but I guess you're just a lying troll eh!!!!!
PBoo,
You didn't answer my question.
Not surprised.
As for your assertion that no oil was produced, are you saying that Angus lied in their RNS (a criminal offence, BTW) on testing, which not only stated the flow rates from two separate tests, but also gave an API of the oil that was produced?
The simple fact is that oil was produced and the eyes either chose not to report it so they could try and make cash from dealing in shares (Adrian has history on that..), or they simply missed it.
LOOKS LIKE ANOTHER FUNDRAISE IS ABOUT TO DROP AGAIN. HOW MANY SHARES THIS TIME? WHEN WILL IT END?
When you start borrowing from RiverFort Global Opportunities PCC Limited and YA II PN Ltd then give them shares, you can expect you are in a death spiral. As we can see here. Its not surprising these people convert. Do not know how they do it but these people seem to make money out of a falling share price. Cant believe they are losing money.
AGM is overdue (which is a criminal offence).
Sando clearly afraid to face the share holders.
Disaster of a company. Get rid of the management. Why the hell did you people give it more authority to issues shares? Now what is going to happen? You are all turkeys voting for Christmas. Damn.
The worst thing it did was to get into Türkiye. For God stake stop buying its shares, but first stop giving the company authority to print more and more. Let it die a slow death.
It still cannot make a profit and probably needs more cash and thus more dilution. AVOID for God sake.
Days are numbered now
for this scam to finally being put to bed
Just when you think this dog couldn’t get any worse it does 👎👎
No more wages for sanderscam.
sando OUT
New multi year low.
Quick Adrian, buy MORE! Before you cannot buy any at all!!!
Company is going bust in 2 months.
What a leg-end. more like !!
What a legend.
Ahhhh good, I will sleep much better relying on Pee Boooo highly intellectual & informative posts lol.....
I think you are confusing Balcombe with UKOG's Turkey testing lol..... now there's a cracking example of nothingness in a bottle. lol. Ps,,, How is Adrian (the mole)
ZXY098
As my earlier post.
The problem Bubblepoint is no oil, other than a Tesco bottle mixed oil and water was ever seen.
No and I repeat no oil tankers ever left the site. The site was being monitored 24/7 by the locals camped outside on the grass verge. Adrian and the other eyes were also there on a regular basis. No Oil tankers were seen going in or out.
1,000,000 shares for approx £440 - WHAT GREAT VALUE.
Why are you all still debating this pile of doggy do do.
The End is Nigh
1.3 million m/c
Someone is extracting the Michael!
15-Apr-24 12:47:10 0.042 78 Sell* 0.04 0.05 0.03 O
15-Apr-24 12:47:03 0.043 1,898 Sell* 0.04 0.05 0.81 O
15-Apr-24 12:18:03 0.044 227 Sell* 0.04 0.05 0.10
52 Week Low 0.045
52 Week Low Date 15-Apr-2024
PBoo,
So can you point out exactly where BP is wrong in his posts on Balcombe, why you think so and what the correct interpretation should be?
Sorry to burst you 🫧 but you have not got a clue what your talking about, as per usual.
How many years in the oil industry 🤔
They get their money from shareholders not sales, so trying to pump the SP is UKOG's top priority.
Expect some ridiculous announcement about Portland and it's £1b risk free opportunity prior to a major fund raise. They will then spent the money on directors salaries before announcing that they aren't in a position to bid for this year's hydrogen storage round, but they will aim to bid in the next round and then not even do that as no-one is interested in the project.