Uk Oil & Gas Share Price (UKOG)

16,000,000 already bought, so that's the 10,000,000 late day seller taken care of. 0.26 finish today??

The price isn't actually down, still 0.23 to buy and 0.22ish to sell.... same old story though, big buys coming in but SP doesn't budge

OK Cheers

UKOG & ALBA both down , not leaky bad news, I hope not

"There is no 'you can only cover costs of testing' restriction - the restriction is you can't carry on testing rather than applying for FDP approval for production. The only reason I can think of for why UKOG extended Kimmeridge and Portland testing, and it was agreed by the OGA, was because of uncertainties in the results, and they needed more data."

Absolutely correct on Point 1 - you can make money but you can't say that is the purpose - its a "Test" and has to justified as such to the OGA

On the second point I think there was certainly a case on the Kimm to keep testing - it's a completely unknown reservoir and apparently has some odd features (like Hurricane's West of Shetland fields ). The Portland - probably not - but UKOG clearly had problems with their partners (some wanted out, Angus for example have been dragging their feet on paying) and the planning issues were stretching to eternity. At the time HH was just about the only new thing onshore in years - I think the OGA were happy just to let it run (at relatively low numbers) for that reason alone. You'll never find it writing and I'd even bet nothing was actually said - just SS putting in regular requests for an extension (supported by a load of data) and a piece of paper arriving in the mail a few weeks later.