Member Info for Bridgedogg1

Neil - Share price has increased everyday this week

That’s a ballzy - 1.5m at the top of the current trading range. Someone doesn’t want to be out over the weekend..

How many tankers will we need with simultaneous Kimmeridge and horizontal test testing. Could be initial flow of well over 1200bopd plus 400 from Kim.. that’s 8 tankers a day...

Olddad - I usually do!

Actually we have pumped out more from Portland than we were planning due to the drilling delay. I'm sure there was some announcement about this...something like - while we are awaiting the rig we will continue to flow from Portland until we enter drill preparation. It does now look like we are very close to drilling but there is no requirement to switch to KL once parity was achieved, it was just a general plan. While all the indications are that we are flowing from KL there has been no update to that effect and I don't expect one until just before spud.

Should the BOD decide that they have changed their mind about the use of funds and now want to apply it to ongoing operations I assume they could do so with a simple rns.

Use of funds
As previously reported, prior to this Placing, UKOG and its Group Companies held sufficient cash to fund its share of the forthcoming Horse Hill-1z and Horse Hill-2 horizontal drilling programme plus ongoing regulatory permit and subsurface work on its other key assets. Consequently, the Placing's proceeds will be utilised in the assessment and acquisition of new opportunities, both in the UK onshore and elsewhere. This is in full accordance with the strategy and plans detailed in the Company's latest annual report announced on 15 March 2019.

What is the RNS that everyone is expecting?

Thanks LM looks sensible, dont see many holes there myself. Flowing a well with 600mbls P50 will be a huge price catalyst, even if we only have 30%. Signing the FO is the first step and provides significant de-risking. So IMO it wont add a huge amount to the share price (still 50% or so which some new investors will consider huge) but it should put a fllor on the share price and provide a nice base for future news.
In the short term price has been rising for a week straight and this is the 3rd attack of the 1.05/1.0651/1.09 resistance levels. Lets hope we can take them down to clear the way for the RNS..

Depends on the quality of the data room. Plenty of historic well data to draw on and we know that permitting is in progress. To me this indicates that a drilling strategy may have already have been agreed.

After another big buy this morning looks like the large trade yesterday was a buy. Let’s get a 10% day in.

We could have issued a load of shares to pay for a quicker drill. Would that have been the preference of the people on here getting frustrated with fo?
Some people on here would moan either way.

Last drill rns only came out once drill was set up. I don’t think eyes will report it until it’s near spud

As at Oct 2018 the planned date for Portland production drilling was Q2 2019, this had now been pushed back to Q3 2019 so everyone has their knickers in a twist.

If its a sell it must be Solo right? They need the cash and dont want to speculate on the outcome of the drilling.

Otherwise someone got a nice price for a sell that size.

BB32 can you include some figures on your eventual £5b+ valuation for the company? What do we need in terms of results (oil discoveries/production) to get there?

Had quite a few blue days in a row, always nice. Shows positive momentum building and word getting out there.

buy buy buy

Looks like the drill crews sisters husbands work friend just bought in.

Brom
Agree junior o&g are at the mercy of the large players who need to have the confidence in the fundamentals of the oil price and extraction costs. These have turned positive on a long term basis and therefore the valuations of smaller cos that can deliver added value are improving.

Jawd
Wouldn’t say the previous ventures have ‘flopped’. IW1&2 offered valuable info on what is a new play so would of had to have been very lucky to strike oil when so little was understood (in hindsight). Even winx added a certain amount of value to the acreage.
Near term is conventional farmout because we are expecting it any time now (last month). Then we will be looking at news flow from JEZ farm out which should progress throughout H2. We will also be getting updates from our farm out partner(s) in drilling plans and Yukon news could drop anytime. So the current farm out is by no means the only iron in the fire. We should be able to build on any uplift from the announcement.

Penguins

"UKOG is trading at close to full value for all Kimmeridge and Portland wells in the proposed HH development. Anything else requires drilling and proving up."

I would be interested to see the figures this is based on.