Member Info for Bridgedogg1

Drewky is spot on. Far too much negative talk on this for it to be anything but a concerted effort to bring down the share price as drilling approaches. To be fair the BOD are making it easy for them. Once this gets as low as it will go they will all pile in shouting about what a great opportunity it is at such a low price.

Objectively its a good strategy

Neverlearn
This is the work you have to do to get a farm out. Costs millions to stick a pipe in the ground. We've pulled all the data we can from the work we have done. Helpfully someone now thinks it is worthwhile to invest significant sums into the acreages.
But yeh, understand that this is a real ball ache for LTH. I've been in an out, haven't managed to make much money in that time, still a bit twichy with recent delays. Hopefully this gets a good boost and you can get out soon, nice and happy. I think I will be in here a bit longer to see through HRZ farm out and Yukon.

What a tw*t

This was gradually rising all last week, very under the radar, a tick a day, now we have moved to the top of the trading range and a spate of buys coming in. If we can break out of the range might finally see a bit of SP action - anticipation of quarterly report with FO news.

Come on guys, we dont have billions of barrels of oil. Maybe if the oil was at $150/b and we have state of the art equipment, loads of cash to invest and could drill/frac where-ever and whenever we wanted then we could get it out. Realistically a solid find of commercially extractable oil in the tens of millions on our current sites is more than enough for us to see 10p+

Makes sense to hold up the quarterly report until the finalisation of the final FO details on the final document assuming it will happen this month. I assume they have the Quarterly report locked in and ready to go.

25th Jul 2019 'Quarterly report and Conventional Farm Out Completion'

IMO

Awaiting news
- HH Confirmation of switch to Kim and flow rates
- HH Portland drill prep/final Oil and Gas Authority ("OGA") drilling approval
- £3.5m investment
- IOW Arreton Main oil discovery planning application for drills and EWT
- BB Loxley-1/Godley Bridge/PEDL 234 - planning application for drilling and testing of the Loxley-1 gas appraisal well and sidetrack & applications for a further BB-1y sidetrack
- PEDL143 A24 Portland and KL - drill location

Is this up to date? Have I missed anything?

I wonder if a new company will want to move a rig onto our property - you aint getting it back!

Expecting validation of IW fairway revision which should move the HRZ Fo materially forward. May even be someone waiting in the wings for this information..

No doubt some have had a good ride here so far. Just trying to work out if it’s still good for latecomers. Not what my other shares have to do with it.

Thanks for the links but they are both my main sources of info. so nothing adding to my original valuations. No one says 500bcf or that gas is a given (good chance it is but still not 100%). IMO Seems like still some significant risk here that people are not talking about but SP still offers good risk/reward. GLA didn’t mean to cause any ruckus, might join you soon, the oil could put this into orbit but if it’s only gas don’t see +1p still a bag or two in it though.

Suggested, suggests, highlights, suggests...

Was the CPR not carried out post the A1 drill and 3D or is it out of date? I’ve got Graham Bull saying 186bcf and spring hills needs 3D and appraisal if WN is successful.
Just trying to work out what are facts, what is educated guess and what is hopefulness as people on here know a lot more than gas been released via rns. Do you have a link for the Graham Bull comment?

Why did Graham Bull think that and what from the recent drill has indicated there is 1tcf? They haven’t even confirmed gas was encountered let alone volume (as far as I can find) although discovery in 2015 confirmed gas at the well.

0.6 for gas? Best estimate $247m = £196n / 16.6% = £32m = sp 0.27p?
Sorry you have all prob been over all this already, I am just going by news and presentations I have read and trying to catch up.

Oil is $850 = £675 / 16.6% = £95m = sp 0.81p

Rathlin A1: Previous data gathered during the drilling of the West Newton A-1 well indicate the potential for gas and oil in these reservoir formations.

Rathlin A2:
Initial results are encouraging. 28 metres of core was cut and recovered in the Kirkham Abbey reservoir formation. Wireline logs have also been acquired.

Until the West Newton A-2 well is tested and we have an understanding of its productive capability it is premature to speculate on what any potential development may involve.

Have there been a reported COS for commercial flow rates?

UJO share price up 300%
UJO MCAP now close to UJO share of NPV for the gas project

IMO If there is oil then this will be massive. If it’s just the gas then this is pretty much already reflected in the SP - I know there are other assets but you would not expect the full NPV to be reflected in the SP in any case?

Genuinely thinking of investing here but a bit concerned when it’s all talk of a done deal which isn’t backed by the news flow.

Are the buys due to the drop in SP or the drop in SP to allow the buys?

You aren't invested? That makes it an even more of a pointless post. Unless...

BIG hitters will wait until we have proven flow at commercial rates. Medium hitters might start getting in once the terms of the FO (s) are known. I guess they are more than happy to exchange the initial 20%+ rise for more certainty over where we are heading.

Anyone investing here has to understand that the market is unlikely to move on anticipation of the Portland drill. It wants to see the oil. There has been too much uncertainty, especially on Kim for any kind of strong rise on anticipation of results IMO. A successful Hz on Portland and Kim will be extrapolated across our acreage and this will fly, but until then I'm not banking on an uplift. Having said that I'm holding long and strong just in case news drops on the other (amazing) assets (remember that £3.5m?)

Grayling
What's your point? Did you wait to post that before you closed your position? Make your trade and move on. Best of luck to you.