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Ninetails, as Qwerty says look at DEC. unless you really want small, 1.2b MC. In a loop for regular trading, hedged oil price. 11% quarterly divi. whats not to like.
In fairness, UKOG has been held down by red tape, and now we still could be stopped if Ruth H. was to win her case. Although unlikely I think.
Not advice . but good luck.
'Winter 23 natural gas is at 679p
This is going to cost households and business an absolute fortune'
Maybe.
But that's just one contract. They're going to look mighty sorry if the market has dropped by then - it'll cost who ever bought atthat price, or do you think a year ago contracts for winter 2022 were going for those forward prices you so like to post here when yhey're irrelevant.
DEC - dyor
Can anyone recommend any small oil and gas company, that actually produces meaningful amounts of either, or has the potential to in the near future, that might be worth investing in to take advantage of high demand for fossil fuels at the moment…it’s certainly not ukog
Winter 23 natural gas is at 679p.
This is going to cost households and business an absolute fortune.
ONce again Ocelot - how does this news have any bearing on the fortunes of UKOG ?
Yes, my post was an invitation.
"Oil samples have now gone for analysis in T ü rkiye and the UK. (RNS of 30/06)
----------------
Wonder what they have learnt from the analysis of the oil seep samples."
That their truck needs anew sump gasket.
Highest futures price at the present is Feb 23 at 732.58p, there are 3 other futures above 700p.
Think this is the first time we've seen prices break the 700p level.
Doesn't Ocelot post alot of irrelevant non UDOG posts here....
Unfortunately we can only speculate about the production at HH. Only 1 tanker seen leaving the site since the 8th so August production will be under 50 bopd imo.
Woohoo,
Can't think why you're posting that here though unless you're mocking those who didn't fix their tariff?
UKOG sales gas next month= 0
Month after = 0
etc.
Unless you'd like post if/when UKOG will have sales gas
Natural gas front month September currently up 19.3% at 550p:
https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5253323
For years ocelot has been repeating UKOG PR. In that time, whilst there have been unjustified rises in the SP - that are to some extent predictable and expected - the fundamental value of the company (ie proved oil or gas assets) has risen from Horndean only (less than 100,000bbls 2P reserves) to just under £4mm for HH-1, plus Horndean - although that valuation was decided by the company - not independantly in a CPR. There is of course some 'property, plant, and equipment that will be amortized - and cash.
The SP is driven by hope that UKOG PR comes good, not proved assets.
Whilst UKOG assign values to intangible assets - the amount of money spentit depends on success to move all or part of it to tangible assets.
Meanwhile those that have challenged the copy and paste of UKOG PR, which unsurprisingly never mentions the downsides, with research that has often proved right.
'The board isn't just for the naysayers' - indeed, nor is it just for rampers. Ocelot has previously accused me of being a naysayer but so far in terms of the company's performance it's pretty obvious who's been right.
Consider this, which I shall keep on repeating, as to why ocelot and others accuse some posters of being naysayers etc:-
'Keeping to realistic expectations and awareness of risk is not being negative - posters seeing them as such suggests likely outcomes are more negative than they think.'
That was originally posted in August 2019 before HH-2 was drilled and the SP was over 1p.
Note - No denial of being "blinkered for whatever reason".
There is an appearance that being blinkered might be from some sort of financial motivation.
... why are they naysayers?
---------------
Some of the naysayers appear to be environmental activists. Environmental activists are not necessarily the most objective of commentators on energy E&P companies.
But it is for people to hopefully assess a company on its merits, and if those are proven time over time to be very low, why are they naysayers? Surely just calling out the facts. I'll leave it there as you are blinkered for whatever reason.
The board isn't just for the naysayers ... despite appearances to the contrary.
Maybe you've become numb to it. Been a long time of always seeing any possible positive in the face of the negative reality which always is the outcome for ukog - historically and most likely - moving forwards into expensive dreams.
matherdj,
I can't even hear myself wondering!
You wonder a lot out loud. Could be seen as sowing seeds - none of which have grown over time.
UKOG
@UKOGlistedonAIM
JUMPING FOR JOY IN JUNE: ... And now for July!
--------------
July didn't really live up to its billing.
FWIW (and it may not be worth very much), wonder if the finalisation of the pre-planned farm-out programme hasn't taken longer than originally anticipated and, as an optimist, wonder in turn if the interest expressed in Loxley hasn't proven to be greater than originally anticipated.
I go with the start of the extract 'should we prove'.
So far UKOG proving up anything has been 'miss' not hit. With Loxley the risks are many and commerciality can have a vast range - even with $100 oil HH, which was declared 'commercial' by the company in October 2018, is currently barely commercial and UKOG are showing little sign of doing anything else soon to mitigate it.
That's despite all the testing of HH-1 accompanied by statements predicting HH-1 production of 362bopd and HH-2z producing 720 to 1080bopd - though of course the caveat was ignored by most 'Note: * There can be no absolute guarantee that forecast, targeted or calculated rates of production will be achieved'.
During the months of testing the production advice softened (I wonder why?) - to this in the last update 27/11/19 RNS before the admission of water ingress just before Xmas:- '......prime technical enabler for HH-2z to be capable of delivering significantly greater flow rates than those seen in the HH-1 vertical well.'
Beware early pronouncements of flows, volumes etc - UKOG have failed to update even HH volumetrics although a new map was produced after HH-2/2z proved the previous mapping wrong in 2019 - and Basur will also need to be updated following the failure of Basur-3 - maybe after the new data has been acquired, processed and incorporated in the interpretation.
As for commerciality it does depend on the forward gas price used and in the case of the Portland at HH apparently not understanding the reservoir, the structure or delivery mechanisms.
Oil samples have now gone for analysis in T ü rkiye and the UK. (RNS of 30/06)
----------------
Wonder what they have learnt from the analysis of the oil seep samples.
Ocelot quotes; "Should we prove commerciality, and we would know this within months, not years"
Well that might be the case IF Sanderson was fully committed to drilling Loxley ASAP and not spending cash on hydrogen storage planning .
Loxley now depends on a farmin.
UKOG RNS 20th July ;
"..the Company will now implement a pre-planned farmout programme, whereby the Company's costs would be either fully or part carried by any farminee. The Company believes that this is the most prudent course of action to both manage uncertainty and to help ensure the best use of the Company's working capital."
"uncertainty", "best use of the Company's working capital"
Sanderson thinks chasing gas storage is the "best use of the Company's working capital" ?
Loxley is going nowhere fast, imo. How many other companies have PROVEN assets that have been waiting years and years to be farmed out.? Look at JOG & PMG for examples.