06 Aug 201717 Jan 2019 08:04
"On Friday, UKOG shares closed at 7.87p, giving the company a market capitalisation of £277 million and SCDM a stake worth £14 million.
Asked why UKOG's shares had risen, Lenigas said: 'People have finally clocked on that the Weald basin is real.'
But Malcolm Graham-Wood, an oil analyst at Hydrocarbon Capital, said: 'The market will only find out about its real value after the current phase of testing and that may take a long time.
'So, there's a chance there's something decent here. It could be worth well more than the current share price but nothing is certain.'