Member Info for Bridgedogg1

Just to clear something up.

When UKOG had a SP of 0.08p in 2017 the MCAP was £288m

To achieve the same MCAP today, with the current number of shares in issue the share price would have to be 0.048p.

Its not unreasonable to assume IMO that the company is worth a good bit more than it was valued at in 2017, say 40% more. With the additional shares in issue this would equate to a current SP of 0.067p.

Valuation factors I have factored in:
Looking at just the oil price alone the company is worth 20% more than in 2017.
Our stake has significantly increased
Further understanding of the geology has been achieved
EWT is now providing Income and this is due to expand in the near future
Bookable reserves are due to increase.
Possible additional stake/assets

We are at the floor here IMO

With the oil flowing and near term expansion of oil flow i don't see a reason for the price to drop back down this time.

Please note: This is my thought process, and may bear no resemblance to reality whatsoever

Broadford Bridge-1/1z Oil Discovery and PEDL234 Licence Update

Broadford Bridge delivered most of its key pre-drill technical exploration goals, namely:
Provides further "proof of geological concept", i.e. existence of a "continuous" oil accumulation
Demonstrates that the KL oil deposit has a 30 km north-south extent
Confirms the existence of a regional scale KL natural fracture network capable of delivering oil to surface without significant reservoir stimulation.

A further BB-1z sidetrack and/or alternate completion and reservoir stimulation techniques are under consideration to help deliver higher sustainable rates and possible future commerciality at BB-1/1z.

NOTE
1. Reservoir geology and oil occurrence at BB-1/1z and Horse Hill-1 ("HH-1") demonstrate that the KL oil deposit has a 30 km north-south extent

2. These live, mobile oil occurrences, together with corresponding rock and electric log data likely demonstrate an oil deposit of up to 1400 ft vertical extent.

3. UKOG is the largest licence holder within the most prospective area of the KL deposit.

Whilst the KL flow rates observed are likely sub-commercial, given the multiple occurrences of mobile oil observed in the well and their correlation with good calculated oil saturations in electric logs and core analyses, we are exploring new methods and technologies that might enable us to achieve higher sustainable oil rates and commercial viability from the 1400 vertical feet of oil-saturated KL reservoir rock interpreted at BB-1z.

With this in mind, serious consideration is being given to a possible future short sidetrack, BB-1y. The sidetrack's objective would include a selective re-test of the main KL units, likely utilising an alternate completion methodology, new completion fluids, the possible use of small-bore radial drilling and other reservoir stimulation techniques. Any future work at BB-1/1z would likely take place after a successful trial of such alternate methods and technologies in the next PEDL234 exploration well.

UKOG, as the largest licence holder in this KL sweet-spot, is well positioned to exploit this extensive and likely commercially viable oil resource.

BB-1/1z has been "suspended" to permit a future re-entry and/or sidetrack.

Good to see someone had to pay the full Ask to balance their books

You mean 1 or 2 tankers from UKOG drilling site? or £3.5m raised by UKOG? or buys and sells of UKOG shares? What do these have in common? - UKOG, which isn't a surprise as it is a UKOG chat board. If you are bored of reading speculation over UKOG I suggest you don't look at the UKOG chat board.

I'm reporting all off topic posts and encourage others to do the same

No one wants em... or your platform is playing up

This gets my vote for the most boring irreverent uniformed off topic thread for the week.

at 1.1p today. Could it be that placing shares have just been made available or are these ISA switches?

IMO I can't see a planning announcement where the timing can be controlled coming out the day of or the day before the AGM but would be very happy to be wrong. My money is (literally) on tomorrow.

With he previous wording used must assume that a contingency has been set aside in addition to the cost of the 2 horizontals. I don't belive that the fund raising was just an in case type decision. Why piss of the shareholders before the AGM unless you can say what it is being used for? then again 12.5% of current shareholders will think it was a masterstroke...

Generally I think you are right but I feel the mystery placing has added a little uncertainty which is holding this back.
IMO an announcement giving clarity to the use of the placing proceeds and confirmation of rig contracts, EWT and a firm drilling plans for the imminent two horizontals could see a significant boost to the price in the short term, which I think would form the base for a steady growth in SP during the drilling campaign running into 2020. At least thats why I am balls deep in here now rather than somewhere else. I was hoping for an update prior to the AGM but unless we get something tomorrow may then be next week.

Self funded drilling from net income and booked reserves will prove a step change in valuation IMHO

I work in the city so might pop in.
Good the see the weirdos here - shorters getting nervous and investors in other shares trying to get a piece of our volume. On a Saturday? Seruously? I’d be worried if I were you, near ten bees flow, continuous drilling, extended well testing. All looking good here

Just had another look at the Ghant chart on the website for the 2019-2020 Strategy and Drilling Plans. As a new investor you would have to say that the beginning of Q2 is the optimum time to get in here in terms of getting the biggest bang for your buck before the steady news flow starts again.

I suggest anyone who goes to the AGM (I might) does a shot for every 'you know'

Can anyone confirm whether the trades at 1.285p are buys of sells? If sells then the Bid s moving up

As if by magic..

Can't see any sells since 8:16am. Sells are going through close to the the bid with buys ranging from 1.13-1.16

Would be more than happy to see sells at 1.13 though

Could there be bad news? Doesn’t seem likely, tankers still going on and out. I wonder if we are adjusting flow rates to see if there is any decline before switching.
Only possible bad news I can think of is a delay on the rig but plans have been in place long enough to prepare rig contract. Need glow seems to have dried up a little, can only think that something will come out at AGM otherwise I imagine the discussion will be ‘why the hell did you place and what’s going on’ - ‘I can’t tell you’. Don’t think they will put themselves in that position if they can avoid it.

Feel like something is building here. Could all come together with a nice announcement before the weekend !!!!

Each Truck holds 200bls?

Where can I get a look at this viewing palace?

Agreed, dont think we can read much into the sp until it either drops below 1p or solidly above 1.2p