Member Info for Bridgedogg1

The pump is back on. Oil flowing over the weekend. Rig coming next week? We will see. Need flow will continue. Happy days.

Looks like the day ended pretty much flat. Still plenty of demand soaking up those shares. Expect it will rise from here.

Sorry, my point being that further financing wont be required before CPR IMO

Something occurs to me but if we are paying Tellurian An £8 million initial payment on SPA Completion (£5 million in cash and £3 million in UKOG shares. If we are using the £3.5m from the placing in March, and we have ring-fenced cash required for drilling activity we have the whole of the loan amount a for..

The portion of the Loan not utilised in the acquisition will be utilised for the construction of production facilities, and other surface, subsurface and regulatory activities necessary to bring Horse Hill into long-term production following the expected grant of production-related regulatory permission.

Just need to get a valuation of £1b for the 350 which is just around the corner. Alternatively we could go overseas but I dont think we want to be doing that.

Think this will have a blue finish

Poor SS. Wevwill have so much money and so many amazing projects on the go, very busy times ahead.

There you go, bounce off of 1.175p

If you are going to double your stake at 1.1 why not add 50% at 1.175? If you believe it’s going to go up from around these levels. In a month the gain from 1,1 and 1.175 will be pretty much the same, unless you decide not to get in and miss your chance

That got to be up there with the largest trades I've seen on my little Aimers. That is 0.5% of the company. Don't reckon that is the only buy they've made. Maybe after accumulating for a few weeks they've seen the price drop after the planning meeting and took the opportunity. Someone must be near 3%.

Land, drill, oil, flow test

Now moving into production

Sorry should have headed up with

RNS Wed, 15th Nov 2017 07:00

UK Oil & Gas Investments PLC (London AIM: UKOG) is pleased to announce that it has today entered into a £10 million loan agreement ("Loan") with Cuart Investments PCC Ltd and YA II PN Ltd ("Investors"), an investment consortium arranged by Riverfort Global Capital Ltd. A first tranche of £7.5 million has been drawn down by the Company, with a second tranche of £2.5 million due to be drawn down on 31 December 2017. The first and second tranches are repayable on 13 November 2019 and 31 December 2019, respectively.

The Loan attracts 0% interest and may, at the sole discretion of the Investors, be converted into new ordinary shares in the Company. The conversion price is the lower of either a share price of 8 pence, or 90% of the Company's lowest daily volume weighted average price ("VWAP") during the five days prior to the conversion date. The Loan is convertible in tranches of not less than £250,000, with a limit of £3 million per quarter, unless otherwise agreed by the Company.

The Loan includes a provision that, for as long as any portion of the Loan is outstanding, neither the Investors nor any of their affiliates shall hold any net short position with respect to the equity of UKOG.

UKOG can repay the principal amount of the Loan at any time for cash, provided that the 5-day VWAP of the Company's equity is less than 8 pence and a prepayment fee equal to 10 per cent of the principal amount of the Loan then outstanding is paid by the Company to the Investors.

Once we start generating free cash flow I hope the debt financing via shares is paid off with cash as a priority. No idea if this is feasible but would be nice.

I usually scoff at the 'MMs holding back the price' comments but seems like there may be another big sell order in the background because there are many more buys than sells showing but price isnt moving. Once cleared (if there is one) and investors digest the deal and the planning approval things should get going again (I hope).
The final piece of the puzzle is flow rates from the horizontal. Planning for 6 wells and a cap of 3500 bopd means we only need 583 bopd from each horizontal. Thats looking pretty certain now with 362 sustainable rate from the vertical which is usually 2-3 times on the horizontal. Once analysts start valuing us on our cash flow I see some solid Institutional interest kicking in.

Also worth noting that with the production leeway we have at the site we can carry out extensive testing on the kimmeridge without impacting the oil flow. That should open up value across the whole acreage. Lets not forget we also have HHH Portland lookalike assets which can be developed in the same way. Then there is the big prize on the Isle of White. 2019 is the year that will make this company.
All looking good.

Here we go. Live data showing a push higher

Couple of big sells, rest look like buys. Not sure why it moved down slightly.

So that's £60m a year to UKOG from one site. With the cap on 3500 bopd decline shouldn't be an issue as flow likely to be choked back to keep within limit. Or is the cap and average across a certain time period?

"This landmark milestone, perhaps the most significant event at Horse Hill since the HH-1 oil discovery, paves the way for the Company to realise the full value of future long-term production from the Horse Hill oil field, our flagship asset. It is also a key enabler that will help us achieve our goal of long-term oil production and related cash flow by year end."

Looks like a few people hit the sell button when the deferral motion was made. Doh!