Member Info for ART123

Suggest you read (or re-read) the RNS from 12th June. Link below: https://www.investegate.co.uk/uk-oil---38--gas-inv-plc--ukog-/rns/oga-grants-approval-for-ewt-programme/201806141230012806R/

"The Aje-5 sidetrack well currently produces 1,600 - 1,700 bopd from a limited six foot completion interval on the Turonian oil rim. The well is performing better than anticipated, underlining the potential for this reservoir. Optimal development of the oil rim requires the drilling of long horizontal wells and producing in a measured way to keep the water and gas in place. The Directors estimate that these wells could produce up to 5,000 bopd per well and this is expected to be confirmed by the simulation modelling." This clearly says "wells" as against "well" so it looks like more than one could be drilled. This could in fact be several wells all producing up to 5000 bopd.

A continuation of the heavy buying this morning. Over 50 million traded in the first 45 minutes. The odd sell soon gets swallowed up.

By the way I am in an opportunist punter mode here. Not holding but watching progress after making a good return on this share previously but at the moment I cannot see any reason to buy any 88E shares. The newsflow is not good.

It's hilarious how some here keep blaming DW's wording of the RNS's. Let's face it mutton is mutton and why should he dress it up as lamb. The flowback and test results here continue to disappoint and that's basically what his RNS's continue to say. Also the same old super rampers always think they know better and blame the way the market reacts to the newsflow for the fall in shareprice but in reality the market reacts to the information that it is given and not to the supposed super knowledge of a few silly posters who can only see the positive side of every disaster. Back to 1p here I feel before 88E finally give up on getting this to flow at all. And if they do manage to get a few barrels out of this they then still have to go on and drill and frac a horizontal well at enormous expense. Looks like ASX called this right for now.

Even the spread right now is quite severe - 1.14p to buy and 1.117p to sell. You can't confuse trades with that big a spread.

You can always work out which are buys and which are sells by doing dummy trades. That isn't difficult and besides which there has always been a sizeable spread today.

The one thing the trade details are usually accurate about is when a trade is late reported but these big trades today are not showing as that. They are coming though live.

There's been some weird sells turning up today. I haven't got a clue where they're coming from. 30.558,891 @ 1.0787 - what the f*cks that all about. 6,110,000 @ 1.10p a little earlier. They just don't make any sense. Thoughts anyone - and only sensible posts please.

1.149p to buy - 1.13p to sell - I don't see many sell though. It still looks to me like a non-stop stream of buys. More shares traded today than will be issued from the placing.

Much bigger volume than after the placing last year. Then 811 million shares were placed and the first days volume was about 190 million. This time there are 611 million placing shares and already the volume is over 400 million. Anyway the real rises will start when operations get underway and will depend on the success of the long term testing. Now it's time to load up.

Just need to close that gap from yesterday - 1.50p - which is easily possible if the buying volume continues. Yes there are a few sells going through but they are being absolutely dwarfed by the continued buying.

1 hour down and 367,000,000 shares traded with a predominant amount of buys - and only 611,000,000 new shares to get though.

The placing shares are not even due to be issued until 21st June - by that time they will be long gone - even by 2 or 3 times - which basically means the SP will be free to rise as news of operations filters through.

It all depends on the volume. MATD for example issued 136 million shares in a placing and 22 million were traded yesterday. There is a bad overhang. Here 611 million shares are to be issued and yet over 320 million have been traded in less than 1 hour today. If the volume is high enough the excess will clear very quickly.

I missed yesterday's rise altogether, though I wasn't holding any shares anyway, but pleased to say I've now got 2,000,000 at an average of 1.08657p. Bring on 10p. I mucked up this time last year as I also then bought 2,000,000 at an average of 0.875p but I sold them way before the SP get to 10p. I seem to remember I made about £15K profit though if I'd kept them and sold around the 10p mark then that would have been more like £180,000..................live and learn..............

5.5M is the cash raised - 611,111,105 is the number of shares. 230,000,000 traded already in less than 30 minutes so volume should easily exceed the number issued just today................

The shareprice when the CLN's was first announced was about 4.5p with the 1st conversion on 20th November 2017 at 4.0884p. That was always regarded as a bad deal and yet here is SS finally doing a placing at 0.90p. I still feel that SS is making a complete hash of this job - as is reflected now by the release of RNS's completely out of line, not to mention leaving the CLN's still to be converted.

I'm getting 10.90p to buy and 11p to sell...............................

Around 660 million shares including the new placing so @ 10p a m/cap of GBP66M.