George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Penguins, the Nutech report claimed 124bn+ barrels OIP P50 in the Weald. Surely you remember it. It was around the time the "experts" on this board were all claiming the Weald Kimmeridge oil did not exist, if it did it was locked in, that any oil just could never flow, and if any oil did flow it would not be enough "to fill an eggcup".
"US-based Nutech Ltd ("Nutech"), one of the world's leading companies in petrophysical analysis and reservoir intelligence"
"Table 1 - Nutech Calculated Jurassic Tight Oil OIP Under UKOG Licence Areas and Wider Weald Basin (BBO)
Weald Basin AOI 2 (1,261 sq. miles)
Gross OIP (BBO) P50 Best 124.3"
Both the Nutech and Sclumberger reports are on the Ukog website and both Nutech and Schlumberger are professionals and real experts in oilfields.
From the Schlumberger RNS:
"Fri, 5th Jun 2015 07:00
RNS Number : 3058P
UK Oil & Gas Investments PLC"
"Independent Assessment of Horse Hill-1 Well
UK Oil & Gas Investments PLC (LSE AIM: UKOG) announced today that Schlumberger, one of the leading suppliers of technology, integrated project management and information solutions to customers working in the global oil and gas industry, has independently assessed the petrophysics of Horse Hill-1 well ("HH-1"), located in PEDL137 in the Weald basin near to London Gatwick Airport. UKOG (the Company)"
"The report, entitled Petrophysical Evaluation of the Horse Hill-1 Well, estimates an overall Oil in Place ("OIP") for the Jurassic section of the well to be 271.4 million barrels of oil ("MMBO") per square mile."
HH licence area is 55 square miles, so approx. 15 billion barrels OIP for the total HH Kimmeridge licence area.
Seadoc, you still have not accounted for how that £11 million still existed at that time, after you so erroneously claimed it had all been spent "just to keep the lights on", but the accounts published only a few days later proved you completely wrong. You did repeatedly pretend that you would prove it had been spent as you had claimed "just to keep the lights on" but never did. Your "calculations" were always wrong.
Just like then facts were of little interest.
We all know it was just part of your misleading agenda.
SS was repeating the claim that was made by Nutech and Schlumberger of 100bn and 124bn barrels OIP in their respective reports about the Weald which had only recently before been published, and hence the media interest.
By stating that SS, restating the Nutech and Schlumberger findings, had made it all up and was lying you are also saying that the Nutech and Schlumberger reports in which those figures originate were both lying. Or are you saying you were unaware of those reports, available to all investors on the Ukog website.
Claiming SS was lying means that Nutech and Sclumberger must also be lying.
May be it would be prudent for you to research the reports before making further accusations.
Skwizz,
Mon 18:23"Btw, I believe it may have been Lenigas who started this claim.
Nevertheless it was made by Trousers and then denied only weeks later."
Mon 11:25 "There is video of Trousers claiming a find of over 100Bn barrels of oil at Horsehill...."
The claim was made by Nutech and Schlumberger, world leading oil field analyst, they indeed officially reported that there is 100Bn/124Bn barrels in the Weald. The reports and OIP are in the RNS's and can also be viewed on the Ukog website if you have any interest in facts as opposed to joining in the insults and misinformation.
SS repeated those reports findings. Are you claiming he was lying, or are you claiming Nutech and Schlumberger were lying?
Do you ave you a link to the information that Nutech and Schlumberger have back tracked or did you just make it up.
Alba have an additional confetti count of 472,727,272 to be added on the 25th and another batch of confetti that can be added later of 236,363,636 via warrants.
Luckily the Alba BoDs have "skin in the game" so are protecting PIs by only giving a 35% placing discount on the Alba SP.
How close to 0.275p will the Alba SP be by the time the "confetti" is admitted to trading, or will it have fallen below.
No wonder disgruntled Alba rampers are posting here venting their frustrations as the Alba SP continues to fall.
What embarrassing and ill informed BS.
The claim of 124 Bn barrels of OIP in the Weald was made by Nutech.
"US-based Nutech Ltd ("Nutech"), one of the world's leading companies in petrophysical analysis and reservoir intelligence"
"Table 1 - Nutech Calculated Jurassic Tight Oil OIP Under UKOG Licence Areas and Wider Weald Basin (BBO)
Weald Basin AOI 2 (1,261 sq. miles)
Gross OIP (BBO) P50 Best 124.3"
What a disgrace that some posters are casting insults and false accusations because they have not bothered to read, or are ignoring inconvenient facts that contradict their agenda, in the relevant reports or RNS's.
The Nutech findings increased the OIP from the similar but slightly lower calculations by the other worldwide leading oil field analysis company, Schlumberger.
UJO down from 0.2555p to 0.1675p = 35% decrease.
UKOG up from 0.165p to 0.185p = 13% increase
UJO shares 2 months change +4,375,000,000 shares increase of 30% to 20 Billion.
Ukog Shares 2 months change +131,014,769 shares increase of 0.0012% increase to 11.1 billion.
Well done UKOG.
vernonya: From about ten weeks ago. Did you miss it in the RNS?
"Horse Hill oil field, which has been in stable production of over 300 barrels of oil per day (bopd)...."
Do not forget that Ukog also has more production from its share of its other oilfield at Horndean.
Seems like the trolls have become confused over their deramping claims. It used to be directors not having shares was the cause of the placings. Now they have changed to directors with shareholdings want placings.
Those concerned about placings should look at UJO with a massive placing in the pipeline there which could lead UJO to dilute to a hugely massive 20,000,000,000+ shares ( yes 20 billion+) about double the number of Ukog shares. There is also a further 6 million+ shares that could be added to that figure.
"At 30 June 2020, there were 6,074,510 warrants outstanding and exercisable."
Perhaps the trolls will be forecasting a huge consolidation for UJO after their placing. 50 to 1 shares maybe?
Seems to undermine the trolls claims that if directors held shares in their company placings and dilution would not happen.
Hurricane with directors "skin in the game" has debts (other peoples money) of at least $324 million.
Ukog next to no debt.
That "skin in the game" definetly prevented reckless gambling with other people's money.
Penguins, as normal your blinkered deramping view makes you miss the point. That the Hurricane directors lost money on their shares was not relevant. It made no difference to the end result that they had purchased millions of shares. The geology remains unalterable. If SS bought a £million of shares in Ukog it will not make one extra barrel of oil come into existence if it was not already there.
The recent hurricane director share purchases only induced small investors to have confidence to buy more shares. Trickery perhaps that SS cannot be acussed of hsving stooped to.
Hurricane replaced its CEO/Directors only a few months ago. The outgoing CEO had over 26million shares. All the directors bought shares, millions, even as recently as the end of last April. The Hurricane board remuneration is multiple millions of pounds annually, dwarfing Ukog costs. Hurricane had large Institutional Investors.
Today they announced losses for the H1 2020 at over $307 million. Debt had grown from $96 million to $124 million, and they also have outstanding bond debt of over $200 million. Worse still water cut and depletion rates rapidly increasing and far more than expected. $100millions may be needed in further funding.
MCap of only £56 million.
1.9 billion shares.
Their excellent CPR turned out to be totally inaccurate.
Worth bearing in mind when you read the continually repeated derampers "moans" about Ukog Directors not holding shares, or their complaints that SS is overpaid, there is no CPR yet, reckless spending, too many shares, no institutional investors etc.
Did not do Hurricane much good, the geology has the final say.