Member Info for Bridgedogg1

Wouldn't want to be out over the weekend...is it Friday...????
The more it goes down the more bags there are in the future.....????

Day to day running costs should be covered even by the restricted testing flow - £10k a day to HHDL.

Cash call for upcoming expenses? Hmm wonder what that might be. Bit misleading to suggest it is for day to day expenses when you know its not. UKOG are 'fully funded' for our share of these costs and have a little cash handy to cover our 'partners' Alba kn(o)bers share.

Anyone know why we haven't already switched test production to Kim already to benefit from the 700+bopd as opposed to the current 200.Do we need to wait for the drilling work for some technical reason?

https://www.proactiveinvestors.co.uk/companies/news/220833/88-energy-anticipates-icewine-farm-out-decision-in-june-220833.html

We are still only mid month.

But yes, it better be deal concluded in June, and we better be told about it in June, either way.

Alba have got some money back in the form of oil revenue, which is set to increase significantly. If all the partners decided not to pay then we wouldn't get very far would we. Likely Alba are turning their back on the only project in their portfolio that will ever produce any value.

The % loss doesn’t seem proportionate. Don’t expect them to contribute any cash in the future. Free ride for them.

Legally they have the right to not pay. They only lose out a little so not too bad for their shareholders. BUT Project partners share the costs because cash is hard to come by. This is a crucial stage of the project. I hope they crash and burn and nobody ever trusts them as project partners again.

88k trade - is it a sign???

8m shares purchased on the prevailing bid was a bit of a surprise.

I have a feeling that the 1m buyer, 5m buyer and now the 8m buyer are the same person. Been a pattern over the last few weeks.

For anyone interested take a look at the investor presentation on the UKOG website. It gives an idea of forward plan for drilling, production etc to end 2020

You could say that after every speculative post about the farm out. ><

30/70 split would do me just fine.

S69- we are looking to be producing 5,000+b/pd in 6-18 months. The income from that in one year exceeds out current MCAP. On that basis the MCAP is undervalued.
Once the imminent drilling starts we will switch to Kim which puts out 700b/pd so some good income to cover future expenditure. With the cash in the bank and anticipated SP rise, if there is a placing, it shouldn't hit investors too hard.

However. Drilling delay? Poor choice of acquisition? HH-1/1z & HH-2 under-performance? NIMBYs?

If all dies to plan and we drill and flow the next two wells then drill and flow 3 more after that then MCAP way undervalued. Progress on other assets, acquisition? If we every get a rig. We should have been given clarity by now after finalisation last week. If a few things go wrong and we start eating cash things could turn nasty. I don’t think it will but getting frustrated with the lack of drill and Investment updates

2 more weeks in June. If the sign-off had been scheduled in the last week of June would DW have hedged on the June deadline? Or would have said end of June? Chances are it’s due this week IMO.

Beginning to wonder if this deal will be a little more complicated than a double well free carry. 88e are just getting on the trail to monetisation of assets. It’s been an exciting and sometimes difficult ride for holders but thing are starting to chance and the DW is now converting the pain to cash. Judging by the SP investors are either losing patience or just don’t give a sh one t .
I keep telling myself it’s got to be June. That’s what he told us. Not long now. I seriously can’t take any more disappointments here. If this gets pushed back or doesn’t come off I’m not waiting around for a possible HR FO.

1.1p getting a good testing today

I assume it was paid at the same time as RMP but we never got specific confirmation via rns. I sent in the Q at the time but no response.
Steady start, hopefully we I’ll build nicely this week.

Local discoveries are always good for oil explorers. Great also for the UK industry. GLA

Good luck shareholders.

Find = drill
McAllen (?) = MCAP

Dam Monty. I agree with much of what you said and we want all informed views on here.
It isn’t all rainbows but I don’t think this has been mismanaged. Just been unlucky not to hit oil. We do have cash in the bank, just not enough for a well. But yes we aren’t negotiating from a position of strength on the FO. It is a bit like selling the family silver but the other option would have been further dilution to find another well. That wouldn’t have been well received. If we can get carry on a drill and some share of the oil that’s in the ground that’s going to be worth a lot more than the current McAllen on either the HRZ or conventional. I will be happy not tube in an explorer that is always raising money to fund risky drills. I would have been much happier if we had actually proved concept on IIW on our own but that ship has sailed. Dealing the the current circumstances I think DW has made the right choice for shareholders.