Member Info for Bridgedogg1

A bit confused now the sp is below the placing price. It was stated that the allocation not taken up would be placed with institutions at the placing price. Well... unless htey have under written the placing, which i doubt, what happens? The cash raising is scaled back? A new price is set? Going to be very short of the £8m+ they wanted and witht he mcap at £17m the dilution will be horrendous.

My thoughts are next cash raise will be at a 15% discount just to cover upcoming drill costs and water reinjector at HH, around £4m-£5m. The last raise immediatly dropped the price the placing price and then there was a drift down. With upcoming action here hopefully the impact wont be quite as negetive.

My posts on UKOG are quite balanced, acknowledging the likely upcoming cash raise and issues in parts of the business strategy.

Your post - 5p target for BOIL - is ramping.

You can tell by the frantic ramping that the P&D brigade are getting ready to offload.

Cryptos dont have fundimentals...

It seems likely that the Turkey cash raising will include 2 water reinjection wells which should make HH at least pay for itself (when combined with the increased POO). There’s more water and less oil than we thought but the cost/reward of any future drilling at HH on the Portland will now be known and hopefully judged accordingly. I just hope there isn’t an ill judged investment in getting the ‘billions’ of barrels in the Kim to produce, or it’ll just be
More if the same.

Hopefully there is some kind of funding plan due such a solid prospect. Clearly the concert party’s focus the the Middle East, can’t see them getting involved in Ghana.
The concert party are defiantly the sort of people we need to progress matters in Iraq. Hopefully the shares / loan debacle doesn’t prevent them from moving ahead with progressing the project.

I think ukog mean share is around 19mmbls on the first drill.

Anyone else find it grating the constant comparison and justification of the turkey licences against the UK assets and UK drilling? Yes ok the UK is tough but surely the comparison is against the rest of the world which is where you could have spent the money on an alternative project. It’s not like it was UK or turkey. I bet everywhere looks good for oil exploration vs the uk.

Apologies for the excessive posting, just putting info up as I find it, I’m probably a bit behind most on here.

On Iraq: Block 6 is believed to hold as much as 5 billion barrels of recoverable oil, and Petrel has already reprocessed some seismic data from the Block and is ready to conduct a work programme immediately.

The most likely initial drill targets on Block Six sit at depths of 3600-4000 metres in the Paleozoic zone and look to be gas and liquids prone with a shallower oil bearing zone at about 2000 metres. The Paleozoic zone extends all the way to Jordan where some production already occurs. Oil targets are mainly in the mid-depth Mesozoic.

This is quite old and not much has happened for some time. It’s a big prize so worth holding onto for a tiny explorer in the hope it comes good.

Also note the link with Clontarf energy n Ghana and can’t see why they don’t just merge in some way with the same MD. DH getting paid twice for the same job, which is nice I’m sure.

So the cost is estimated at £3m and we’ve already set aside costs for long lead items. That means the rig and operational cost of the drill from here will be £1m? Seems an unlikely small figure. Or is it £3m cost from here?

So how much wii we need to find the rest of the drill? Looks like we pay 100% costs on the first drill then split with AME. Assuming links with AME can keep the costs down in thinking around £5m, including post well costs to production. Anyone have a more reliable figure?

https://www.share-talk.com/share-talk-bulletin-board-heroes-monday-8th-march-2021/#gs.1029kxr

5 mins in

I don’t think this charting holds much water but the consolidation around 2.6 is a key reason I bought in

Lets keep the momentum from midday yesterday! Charts are looking ok if you like that sort of thing. Hopefully sentiment takes a bit of a turn and we get a blue day and anticipation for the drill starts to kick in.

SRBS you cant have made so many posts without realising the absence of a relationship between MMs and how the LSE website automatically colour codes buys and sells.

Lets not forget that the oil price is multiples of what it was in 2020. If we get to a point where HH is profitable (after water reinjection) then i'll be happy.
We are testing a discovery in Turkey with time and cost to production is very low, but it will need to be paid for. The idea being that the cost is less than the reward.

Haha Its clear who is waiting to invest at the lowest possible price. It’s a mugs game. You are scared of a 15% rise tomorrow - of course I'm scared of a 15% fall tomorrow, which is just how it goes. I'm glad that most agree there is some potential though. My little buy is in a very little profit... might take a screen shot for posterity.

I got a (very short) reply after exactly 15 minutes! They must realise what a huge shareholder I am (not)

Skwizz, you are right, but none of that prevents a strong increase in the share price. UKOG have always been in that position, but for once we now have a viable route to return on investment, with lower risk and lower costs that previous projects.

Worth noting, as im sure many already have, that AME have two rigs of their own.

If the cash raising comes would it necessarily have a negetive impact on the sahre price? For many compnaies, when the cash is being put to good use, it doesnt. It the past UKOG raise to pay debt, directors and basically to burn cash on a big bonfire. BUT this is a solid prospect, imminent drilling. I still thin that a dilution will pay dividends and therefore shouldnt be feared as they have been in the past.

I can see you dont belive me.

OK then, ask yourself what you think the mcap will be post spud. Higher than it is now? Then no need not to buy now. If everyone is waiting for the inevitable cash raise before investing then it shouldbt too much of a problem. Im buying on this basis.

I didn’t believe I would ever say this about UKOG but I think they might actually be UNDERVALUED now. I know, right?
Turkey is possibly the first sensible project this company has every considered IMO. The fact even the naysayers are openly admitting to an intention to get in when the price is right. There seems to e a concern over fund raising but a 10% dilution (£2.5m) for something that may well add £100m + value seems like a good deal. Will they raise before the anticipated rise to spud, or even the results? I think its unlikely.
Many are fearful now that they will miss the boat with many a finger & curser are hovering over the buy button. I might just take a punt, despite swearing off UKOG for life.