Member Info for Bridgedogg1

I emailed the company and it was confirmed.

Going to be difficult for you guys to continue to post 20 times a day for the next 6 months - when the next news is due.... unless you dont plan to stay around for that long...surely not

'shortly' on Ghana and possibly other matters. Whether or not its a positive update... heres hoping

Update on Ghana 'due shortly'. Take as you will.

https://www.iraq-businessnews.com/tag/petrel-resources/

Nothing new but most of the news on Iraq in one place. Looking for an indication now that it is moving forward in some tangible way.

Nice to see those buys today.

Exactly what 'usbsurface skills' do UKOG have? The ability to get another company to drill a few holes in the ground for them? To over promise and under deliver. Yes essential stuff!

"we are increasingly active in the newly emerging geothermal energy field, where we possess the key subsurface and engineering skills necessary to make such projects work."

Operating profit... but what baout the £800m bons ds and repayments?

OK forget that - we sold out. Got the info form the company website on Iraq
Old Block 6: 2002 Petrel was awarded Block 6 in the Western Desert subject to ratification
The former Block 6 is located in the relatively unexplored Paleozoic Basin of Western Iraq. It covers 10,000sq km.
There is 3,400km of seismic but no wells. The potential is a multi-billion barrel oil and gas field.
Petrel have analysed all available data and are ready to drill.

WIth the focus 'once again in Iraq' it would be nice to see some news. Whether or not Pre-Coid discussions actually looked positive?? Looks like they gave a presentation to the Ministry on the Merjan-Kefl-West Kifl oil discoveries and possible development strategies. What now??!

So back in the day, when the Irzq issues where initally resolved we exchanged a 50% equity stake for a 10% profit stake in the Subba and Luhais oilfield development. What happened to that? It was supposed to be 100k-150k bls per day project, fully funded. Is this what we are working on atm?

https://www.proactiveinvestors.co.uk/companies/news/13039/petrel-resources-settles-iraq-issues-15939.html
https://www.enereco.com/projects_portfolio/gosp-luhais-subba/

iamrich - that cash has been earmarked for the 3d and related costs over the next 6-11 months. At thwich point they will have to find more money - if they think the asset os worth it - or declare the asset unviable which means zilcho to shareholders.

Wronin - my posts are for you as much as anyone, you got in here- maybe on the rise? - think its going to 'tank to 1.5p' but actually down 12% with large holders selling down. This share has a history of spiking then falling back.

Shell got rid of this license so to say they verified it and will want it back is a bit of a stretch.

You guys are a good laugh - URGENCY!!! SHELL!!! POSITION OF STRENGTH!!! Come on, its just one of many small exploration companies with a license looking for someone else to pay the costs. Thousands of them and this is no different. Doesnt even had solid 3D so have to wait 6+ months for that to coome through before we decide its a worthwhile asset. Dont listen to this pump and dump crew.

OK but whats the upcoming news?

Can you state what that anticipated news is concerning?

The Board believes that the following events represent key potential value inflection points for the Chuditch PSC project:
(i) the final results of seismic reprocessing anticipated in the first quarter of 2022;
(ii) the decision to enter into a drilling phase anticipated in the fourth quarter of 2022; and
(iii) the potential drilling of high impact appraisal and exploration wells anticipated in 2023.

Next news is a year away?

The first thing the new boss will do is air dirty laudry from the old administration. Given that irregularities have been highlighted there may be some bad news before good here.

6 March 2019: "Encouragingly, we have also encountered multiple potential pay zones in the primary target as well as one of the secondary targets. Whilst it is still early days, we are well placed and look to the wireline program with measured optimism."
I seem to remeber something similar prior to the 6 month shut in on Icewine2. Chickens, Hatch etc.

Probabaly already discussed but why raise $6.5m for a $2.6m cost overun? Must be more issues that have not been announced? Not that thats an indication of the drill results but doesnt really add up. 11/2 RNS said funded until end of year so whats the additonal cash for?

Irleand uses 152,404 barrels per day and produces next to nothing. Drilling a well in the Irish sea wont impact in any way the oil usage of Irleand or the transition to cleaner fuels, it will just mean that there will be less oil imported from overseas.

3d analysis due in 7 - 12 months. Hasnt started yet.