Member Info for Bridgedogg1

Heading down with my banjo to serenade the rig as it passes through the gate.

Looks like the profit takers have had their bite of the pie for today, moving up again now.

Little darling, the smiles returning to the faces
Little darling, it seems like years since it's been here
Here comes the rig
Here comes the rig, and I say
It's all right
Rig, rig, rig, here it comes
Rig, rig, rig, here it comes
Rig, rig, rig, here it comes
Rig, rig,…

Here comes the rig (doo doo doo)
Here comes the rig, and I say
It's all right
Little darling, it's been a long cold lonely June
Little darling, it feels like years since it's been here
Here comes the rig (doo doo doo)
Here comes the rig, and I say
It's all right

Doubt it Wayne. Big buyer wont be spooked by small drop after a large rise. Preparing the base for another leg up.

GLA

I wonder if the use electronic signature or if it has to be ferried around the world for wet signatures

Should be another good day. Investors now seeing UKOG as the preferred option among others. Those waiting on the sideline now getting in. Larger investors looking at valuation of the project vs MCAP seeing the potential and making big buys. Plenty of bags to be had at these prices IMO
GLA

I made FOR
Further information received from the applicant as a result of comments made and issues raised by technical consultees has resulted in another round of consultation and publicity. This is not unusual in respect of major planning applications when it is sometimes necessary to have more than one round of further consultation. This has delayed the determination of this application which will not be taken to committee until officers are satisfied that the submission is robust and all outstanding matters have been addressed. The time taken is as a result of technical matters, not political considerations.

As a quasi-judicial Committee we have to get this right, or otherwise we stand to suffer the risk of either judicial review or an appeal all at considerable cost and inconvenience to the Surrey Taxpayer.

Nobody would be more pleased than I as Chairman of the Planning & Regulatory Committee this application reach Committee for decision. However after our previous experiences with such hydrocarbon applications in Surrey is vital that is complete and all the technical and other details are totally comprehensive. This is a very high profile application with massive public interest in it.

Still many variables in play but feeling more positive now. Big risk was no deal.

Just hope we havent waited this long for a single well with a small company and a cash raising Ann.

I dont know, there is a good chance 88e (subsidiary) will remain operator until terms of earn in are achieved.

Agreed. Just making up lost ground for now.

Rather than just Report you should be able to down vote posts

Any breathe.

Ready for another run into the close.

On previous drills we get an announcement of 'drill and equipment on site ready to start operations'. Should be a nice build up to RNS Pop at the end of the week or so.

P&D characterised by low volume large SP movements without reason.

We have large(ish) volume buys with low (for now) SP movement and plenty of good news flow imminent

Warning FOMO in effect.

Get in now before the company announces what we already know

There's enough quality prospects on the Western Play fairway to keep any FO partner busy for a good while. Expect they will farm in to the acreage.

SP briefly peeking over the ramparts of 1.05p. Time for another tick up me thinks.

Penguins

You say it hasn't been independently verified and they copy the direct quote showing the verification by a third party? We don't know until it flows but its the current best estimate.

Re 5000 from Portland, yes, apologies, I was thinking 2020. 3500 target for Kim and Portland end 2019 seems reasonable.

Potential for additional flow tests on other assets this year. Lets see what SS has up his sleeve.

A truck that left UJO has arrived on site. So silly that there has been no update re contract and planned drilling.
I guess you could argue that technically all on track as per previous announcements - contract was signed before following Friday, drill work did start before end Q2. Still, would be nice to have confirmation before bit starts turning.

Actually we haven’t flowed a horizontal yet so we don’t know what the additional wells will produce. Independent analysis says 760-1080 (from memory) per well but we won’t know until it is tested. HH has a history of exceeding expectations. So 3500 is low end, certainly not a target. But if you like, 3500 x 45 x 365....
As for 25% decline, testing has only seen marginal decline.

Just to be clear, that's approx. $20 a barrel cost. £65 revenue. $45 profit x 5000 x 365. not looking so undervalued IMO