Member Info for Bubblepoint

WoW !!! = highly informative post, as usual !! or is it WoW, your shocked at the price action on the anticipated finance news ?? I'm not, SLBY remains of no real value to retail, they took it all from under our noses,

I am convinced Adrian is related to SS, they both demonstrate a total lack of ability to make the right call, and share a supreme ability to fail at every turn, , Ohhhhh and a constant effort to try and bullshine retail punters in the hope they can make a quick bob or two.

Well, the only FACTUAL post of the day, totally agree HITS,

Two things wrong with that RNS, they include the words TRUST & BENEFIT, both of which UKOG are incapable of lol

PMSL, whatever SAS !!!!

SAS,

I have NEVER said SLBY is a failure, far from it, the issue is from them undermining the asset and removing retail upside in the process, and nothing has changed on that front.

As for "dew point", well you obviously don't understand much on that front, but the level of condensate being banked and recovered demonstrates this is the case, and almost certainly WHY production levels are lower, simply by chocking back flow, you increase the back pressure within the well and reduce the induction of condensate.

The new high velocity string/s will help in maintaining lifting of condensates, and help maintain overall production, unfortunately it is just the nature of depleted gas fields and the level of increased Capex and works needed to keep gas flowing.

It isn't my fault you don't get it !!!

Ocelot,

The new financing & consolidation deal is more a "life saving" deal, than some big Brucey bonus, it is still just another form of dilution to shareholders, just without the issue of shares to do it, they will need every ounce of revenue for the foreseeable with the excess from the finance to do the works needed, and then service this debt.

They talk about the work needed for production, but it will at best only enable flows of maybe 8-9mmscf/d, the work needed isn't going to transform production to super new highs, it simply isn't possible, as the "dew point" is ALWAYS going to limit this with increased induced condensates.

As said, other projects may bring upside, but SLBY is firmly undermined for retail upside.

I don't see anything special in all that, OK it has given them room to breath and fund the work programs, but it still all equates to maintaining the asset undermined with debt and Capex needs for some considerable time.

The MOU is at least something they can now plan together, which will keep the field open rather than have to be P & A and put back to nature as soon as they end production, so that cost is "likely" kicked down the road somewhat.

As for Brockham, well I don't really see that as much of any value fullstop. They would be better chasing up on Balcombe than playing with Brockham.

Who knows how the market will take it, but it should create some activity for sure, good luck with it ;-))

Horsehill is border case a liability NOT an asset of any value !!! no one in their right mind would take it for a song, cost more to P & A and reinstate all the land back to nature.

Ocelot,

Of course it is an achievement, but they also relentlessly and in some cases deliberately undermined much of any value from both the asset and retail punters.

Well undervalued ??

That is only in the eyes of the dreamer, the finance will help smooth over the craters they created, but lets not also forget that not only are they looking to burden the asset with £20m of consolidation debt, but that it also took around 3,500,000,000 additional shares through placings ONTOP of the loans to get to this point.

You can call it deramping or whatever, I don't really give a fluk, if I believed it was a bargain at this price I would already be loading up, but as with when it was at around 0.5p, I didn't believe it then and I still don't believe it at this time.

Yes there will be movements, and there is ALWAYS money to be made if quick enough, but at the moment there are better ops out there than to take a high risk smash n grab here, at least until they sort this mess out somewhat and demonstrate a true direction.

""as time passes, the time and cost overruns on Saltfleetby will fade into the past and what will remain in the fore is that Angus got the job done.""

Ocelot, as time passes, the flow rate is day on day, week on week dropping, as are wholesale gas prices, a double hit on what was hoped not that long ago.

As for costs and over runs fading etc, well they will very soon be entering into next phase of deleted gas field recovery processes, booster pump, velocity strings, additional well requirements etc etc,,, far, far from fading imo.... in fact the opposite.

PMSL,,, pumper & dumper,,, nahhhhh it is simply how YOU prefer to paint over realist people, who ACTUALLY have industry knowledge & experience, but heyhoooooo each to their own.... I simply read it correctly and bailed accordingly, AND gave ALL my reasons for such AT the time... is that pumping & dumping ??? NOPE,, just straight talking and upfront !!!

I will leave you to continue YOUR pumping lol...

SAS,

The problem with many retail punters is they do as you do, and hang on to even the slightest potentials and hang on to the words of those leading these outfits (which is what they want).

The reality is similar to exploration drilling, folk spout on about yeahhhh we targeting 1 billion barrels, they struck oil next door, its nailed on blahhh blahhh blahhh, but the reality is many outfits trip over their own shoelaces far too often, costing millions in lost time or additional costs, drag it out for far longer than it should be and the reality is that AT BEST they have a 10-15% chance of success, ermmm yeah which is also an 85-90% chance of NOTHING... just like you were spouting on about Balcombe, it is promising, but far from nailed on, along with only a small 25% holding and a history of already failing on the first test to get it right !!!

you keep your blinkers on, I will keep my eyes WIDE open and focus on the 85-90% of reasons why any punt might fail !!

""In addition to the above there is also lots more value possible set to impact positively on the share price which is the huge revenue from Balcombe which will be due very soon.""

SAS, not sure how you come to that conclusion, Balcombe is at present only 25% to Angus, and there will be their share of costs on anything going forward, along with it NOT being proven in any form as a commercial asset YET !!

No one will know that until it is tested PROPERLY next time round.

""Mcap is £2.5m.""

Yeah, that's about £2.45m more than it is actually worth. UKOG almost more of a liability than any kind of real value !!

PMSL, !!!!

So basically, gas prices are less than half what they hoped last Autumn, being below 60p today, along with production being significantly down over a prolonged period, and that it seems they are having to fight tooth & nail to get this deal over the line, which at current prices and rates will basically leave the whole asset undermined as far as retail punters are concerned.

It will simply continue as nothing more than keeping them all in a job for the foreseeable.

Well Gas prices about to test 60p, nooo they ARE testing 60p.......................... Add that to the drastic lower production rates and it is ideal in timing for rubber stamping the Trafigura deal

""Consolidation will make no difference to the value of the shares you hold, there will just be a difference to how many you have after consolidation but the value of your holding will be pretty much the same,""

Problem is Ninetails, that every time I have watched a consolidation play out, it has ALWAYS dipped down, not sat level or gone up, so I expect realistically it will result in at least a further 5% decline post consolidation, if not 10%.

Adrian's gang, Peeeebooo and co will like it for some weird reason lolol....