Member Info for cperkin

If you mean the amount of gas and very high pressure from the well was a massive surprise then yes willow, the gas find was much bigger than they expected.

For balance the 763 BCF 2C or 126 million Barrels of oil Equivalent is more than all the oil (STOIP) under the whole wield Basin and thats before the other 5 drills @ Ruvuma. It's massive in comparison to Horse Hill.

Not only that but it has a development plan and funding to the tune of $107 million by the Zubairs.

Willow C-1 is not high risk at all thats completely false, it is an appraisal drill of the 763 BCF 2C or 126 million Barrels of oil Equivalent. Note thats 2C and recoverable. - and will have a very high COS, the additional 900 BCF GIIP deeper target is the high risk which may be oil or gas.

It would be nice to hold out for more DPL, but the problem is they can't go to market and try to sell all £4.5 million at once it would trash the UKOG SP so a little at a time is the only way to unload and it going to take a while.

KN-1 Aminex said remediation in Q4, they were supposed to update us at the end of September on the first part, so late in terms of initial flow. The perforation of the lower zone is supposed to be before year end.

lol sorry £99K

There was another almost £1 million trade posted as a buy earlier as well @1.95 but I have my doubts and think that might have been a sell as well.

I expect so BD, cash is king.

Fairground ride again.....

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=UKOG&ArticleCode=96zoj67s&ArticleHeadline=EWT_Update_Horse_Hill1

Sustained continuous oil rates of between 563 and 771 barrels of oil per day ("bopd") on 36/64 and 38/64 inch choke, respectively, recorded over last 24 hours through test separator. Gas rates up to 186,000 cu ft per day measured through enclosed flare. Flow sustained at constant stable bottom hole pressure.

Quite agree GL on both being in a pub and on the update.

Drewky as JB thats is hilarious, since quite a few of us met Drewky at the EGM, I am happy to report that he did not suddenly change into a disguise and cover himself in tanning lotion and appear simultaneously on the podium at the AGM :)

Nothing you can do to hurry up a license, quite simply that part really.

It's alright the big seller is out 16 shares sold @ 1.481p and 24p collected - Whoot!

No one will, distressed seller I guess, needs the money.

It's moving on bugger all volume Tarry.

Anyway, nothing has changed and the November date still stands for completion of the 40 million Cash & Carry. I can understand that people get scared and bored, only natural. I suppose I should be grateful for the top up oportunity they are presenting and I took some more on the drop yesterday.

GL

since its approaching the price they paid for their 29% back in 2016 despite a 10 fold increase in resources since with NT-2 then they might as well just make an offer for the whole company or buy 1% on the open market and force a reverse takeover.

Considering the COS on the first 2 targets for this drill now spud.

GLA

Nope, all quiet on the Eastern front.

Night folks, back to waiting ;)

One interpretation Crusty, but as per the RNS they said the end of September for the Circular so in fact currently 7 working days late against that timescale, disappointing in the miss but perhaps not a surprise unfortunately.

I don't see how the real probability has changed, since there have been no material events or announcements to impact the probability of completion by the End of November, well at least not yet and so the binding offer of 40 million cash and carry still stands and when taken into consideration with the the 2C resources then the current market cap of 58 million seems comfortably underpinned to me. I mean you even said yourself today that the current SP was a buy.

Interesting bearing in mind that to meet the EGM deadline they have till about the 2nd week of November to obtain the licence and issue the circular to meet the end November deadline, they are currently what 9 days late on initial forecast, surely not unusual in your experience of Tanzania?

likelihood? so you don't believe the Farm in will complete this year then Crusty, give or take a little on the end November deadline.

Just to be straight and clear.