Member Info for Bridgedogg1

362 bopd from the vertical is described as the 'sustainable rate'
Target of 'sustainable flow' of 720-1080 bopd from horizontal

That's after a years for extended well testing.

My thoughts are that the initial rates will be higher that the 1000 bopd target but will quickly reduce down to the sustainable levels of 720-1080 as per the EWT for the vertical. I believe these initial flow rates will lead to a substantial uplift in share price.

CAN we retain the rights over HRZ when we have farmed out the acreage? I don't think its on the HRZ sweet spot but the data hasn't been released.

Still such a bargain. All of the delays, cost, building position in horse hill, planning, site work, well testing, 4 years + in the making, all leading up to this week. A strong steady rise on the cards.

Looking good at 1.2p, should smash that then no holding her back

My feeling on the trading is that each time we edge up the resistance kicks in. In my mind this is people who bought in recently taking 10-20% profit. I dont see long term holders with higher average selling out now. Therefore I think the selling at this level will soon dry up and we will move rapidly on through the early 1p resistance levels.... this time next month Rodney

It's my birthday tomorrow, would be nice to see a deal/rig update RNS

....Talking about BP and Shell not getting involved? Why would they? Onshore UK is such small fry doubt its even on their radar. Same applies to UJO. Talk of buyouts etc are have no merit. That's not to say the assets arent significant for the companies involved but the bigger companies are looking at projects for hundreds of millions of barrels - 60k bbls per day....and that is without protectors and country councils and red tape..

Horse Hill is just right for a company of our size, huge upside potential, on a good scale with manageable costs. Same goes for UJO and what they have.

Stocktaker, I believe it is 6% of revenue

I don't believe there will be a cash raise. What would we need it for? Not Yukon, Conventional or working capital. So it would be for HRZ, but would wait on the terms of a farm out which I expect to include a cash payment. So why raise now for a possible in the future? Still nothing expected by the market until next year but HRZ news could drop which would result in a sharp uplift. In the meantime drift will continue IMO but as a slower rate now revalued - £50m is still a solid MCAP and plenty of space for downwards movement without CR IMO

We have had agreement to extend the well test so can continue to EWT from the existing wells until planning is received for production from current and new wells.

Bit of movement on site reported from the eyes, so close ...

Clearly one person with at least 3 accounts desperately deramping haha

·This is still making a loss, issuing equity and cant pay its debts on time. Something doesn't seem right, with the good sales figures why extend the loan notes at 15% if you think you will make be making profits?

· Convertible loan notes extended in May 2019 to 30 June 2020 at a coupon of 15%.

· Cash balance of £0.3m at 30 June 2019 (30 June 2018: £0.3m).

People are filling up the boards with responses to a few unfounded negative posts. Much better off ignoring, starting a new thread and putting some of the positives on the board to counteract, rather than playing into their hands and keeping the threads active.

Upon completion of a share purchase agreement ("SPA"), this key acquisition will see UKOG's Horse Hill net oil sales revenues, net reserves and recoverable resources increase by over 69% from our current 50.635% interest to a material 85.635% net share. Crucially, the acquisition will also give the Company full control over the forward Horse Hill drilling programme and production schedule, together with sole ownership of the Horse Hill oil field site lease.


As a consequence of this transaction, drilling of the much-anticipated HH-2/2z Portland horizontal well will follow very shortly after completion of the SPA.

The convertible loan ensures full funding for UKOG's increased share of future production facilities costs and other near-term surface, subsurface and regulatory costs necessary to bring the field into long-term production.

My understanding is that 88e have enough cash to keep the lights on for sometime.

Could be a deal in the offing..... most likely a SO rise before the inevitable CR. They are more leveraged on HH so could be that..

09:00am 1.15p paid

It isn't just about supply and demand = rise or fall, its about demand and supply at different price points. If someone wants to buy £50k but only at below 0.75p and there are sellers at 0.8p then the price will move down if the sellers want out. Its not that the price is being manipulated its just that buyers are controlling the market until an equilibrium is achieved at which point you get a steady trading range.

We have two wells + four wells on Horse Hill. The interesting this is that the second for the first two wells is for Kimmeridge horizontal so with the additional data required on Kimmerdige and planning for four new wells about to be received will we now drill additional horizontals into Portland before Kimmeridge? After Horse hill is flowing the forward plan has already been set out:

We have selected three drilling sites on the Isle of Wight and plan this summer to submit the first planning application for an appraisal drilling and extended well test campaign. An application for a further exploration well on an Arreton look-alike exploration prospect will follow shortly afterwards. It is our intention to ensure our drilling operations take place during the autumn and winter to avoid the island's tourist season
Isle of Wight PEDL331: Drilling of the Arreton-3/3z appraisal well and extended flow test is now scheduled to commence in Autumn 2020, subject to the grant of necessary regulatory consents.
Arreton South and North prospects contain aggregate P50 Portland oil in place of 77.2 mmbbl.
UKOG's subsurface team have also recently identified a further large undrilled anticlinal structure, the Arreton East Prospect... many times larger than both the Arreton oil discovery and Arreton South prospect combined.
Following completion of Arreton-3/3z, the Company currently plans to proceed directly to drill Arreton South, and if regulatory permissions are in place, to proceed directly to drill Arreton East in the winter of 2020/21. Autumn/Winter drilling is designed deliberately to avoid the island's tourist season.

PEDL143 "A24" Prospect
A direct geological look-alike to the Company's Horse Hill oil field. Multiple potential new drilling sites outside the nearby Area of Outstanding Natural Beauty are under evaluation and drilling is now scheduled to follow directly after the completion of the Company's 9-well 2019/2020 drilling programme, subject to the grant of necessary regulatory approvals
Loxley-1/Godley Bridge gas appraisal well
Planning application submitted to SCC in early June 2019 and we expect to receive a decision before year-end. It is planned that the appraisal pilot hole, horizontal sidetrack and testing programme can commence following further production drilling at Horse Hill. Whilst Loxley is primarily an appraisal well within an accumulation containing a significant gross gas in place estimated at around 60 billion cubic feet, the plan also includes a deeper test of the underlying deeply buried Kimmeridge section lying within the largest untested Kimmeridge feature in the Weald Basin.

What happened with PMO in Falklands? Didn’t they farm in then do nothing for 5 years? Just getting moving now by the looks of it.

No one will be selling out now. Shorts closing. Chances of a near term bag very high imo