Member Info for cyan2

"I would urge others to block him/her if you are relatively new to trading Clear agenda and that revolves around his own fortunes solely" I am not invested here and do not believe in shorting. Now , why would someone be keen to shut down reasoned discussions.? Why would someone want to particularly influence those relatively new to trading? I have been around the block a long time; I know YOUR game mister.

Good morning Jaffy; No, I am not in . Am "still pontificating from the sidelines" lol

Thanks pijoe1212. They were VERY careful in what they published ; "It should be noted that since Kimmeridge exploration and appraisal is still at an early stage, both Xodus and the Company consider the Kimmeridge assets are not yet at a sufficient level of definition where any meaningful Reserves or Resources can be assigned in accordance with Petroleum Resources Management System ("PRMS") reporting standards. " Time for Bed. Chat again soon.

I have seen too many vulnerable investors deceived into investments that have ruined them. I am not saying all will be ruined here but, there are those who want to manipulate BB's to their own selfish ends. An open reasoned BB is NOT what they want. I do not respond well to those who be-liitle and otherwise bully those of another opinion. I will respond robustly. Here is a post I published on another site; Its full of actual FACTS some rampers would rather not like discussed; The Portland offers the best chance, imo, of being declared commercial. 14. 6 2018 RNS http://uk.advfn.com/stock-market/london/uk-oil-gas-UKOG/share-news/UK-Oil-Gas-Investments-PLC-OGA-Grants-Approval-f/77663734 Extract Portland Test "As per the 2016 test, which flowed oil from the Portland at a stable metered rate of 323 bopd over an 8.5 hour period, a linear rod-pump will be utilised to flow Portland oil from around 35 metres of existing perforations located at around 615 metres below surface. As the 2016 test rates were constrained by the pump's capacity, the new test will use a larger pump with a capacity of around 475 bopd. Given the currently estimated low Portland production costs of around $20-25 per barrel, the 32 million barrels most likely Portland oil in place calculated by Xodus in 2017, together with the good flow rates recorded in 2016, the Company believes that the Portland is a strong candidate for commercial viability. Consequently, subject to a successful test outcome, the Company is targeting an assessment of Portland commerciality in Q3 2018." =========================================================================== Interesting RNS . Note how UKOG wrote this up mentioning the 32 million barrels but neglecting to say how much was recoverable as UKOG's share. Fortunately the results RNS in April had these lines; "The HH-1 Portland oil discovery's importance was further boosted by Xodus' report in February 2017, which determined that the P50 OIP had increased to 32 million barrels, an increase of 53% from the 21 million barrels reported prior to 2016 flow testing. Gross Contingent Resources rose to 1.5 million barrels (0.5 million barrels net to UKOG) with a further 1.7-6.6 million barrels gross recoverable (0.5-2.1 million barrels net to UKOG) being possible via implementation of a water re-injection scheme." 500k to UKOG without injection , with injection maybe another 500k ,to a theoretical maximum total of 2.6 million with injection. There is much debate about how the flow rate could be larger than in the original test. Interesting, but, whether you extract at 400 barrels per day or 4,000; the CRITICAL number is the VOLUME in the ground that is theoretically recoverable.; it stays the same as per Xodus report; 500k-2.6 million Maximum as UKOG's share. Time will tell.

Make your own minds up , good. Have the links I provided upset you?. This is an open discussion board; not a site specifically for a group of like minded investors seeking mutual reassurance. You know where the ffilter button is. Bye

"Cyan2 - pot kettle . . ." Really?; Show me where I have misled. Just because you are not happy that , after a poster writes about ' a lake of Ten Billion barrels' I had the temerity to link to SANDERSON himself describing a target recoverable much smaller. Was Sanderson misleading. Perish the thought HE has ever mislead investors; "We'll all be retiring to the Bahamas" What a load of BS!

"Still argue that you’re a serial deramper. . . . . Red" No, I just don't like smart alec's who mislead investors.

"@Cyan2 - again, get your facts right. That video is from December 2015 which is pre-the HH-1 initial flow tests which blew the original expectations out of the water and resulted in a revised CPR for the Kimmeridge at HH. Dear oh dear Cyan2 - called out again. . . Red" Oh dear oh dear; red called out again there is NO CPR FOR THE KIMMERIDGE. Get your FACTS right Red.

"You won't be selling the facts if this is firmed up exceptional extended flows and a lake of 10 Billion barrels." Let's get real and listen to what SANDERSON said; hTTps://www.youtube.com/watch?v=RTRYVvCe7Bce Sanderson himself stated UKOG's ENTIRE WEALD interest , was in reality , only targeting a theoretical, at best, of 200 million barrels recoverable in the Kimmeridge, IF he was allowed to mass drill. That has been thrown into serious doubt when BB failed. As for the Portland; The RNS in April had these lines on the Portland; "The HH-1 Portland oil discovery's importance was further boosted by Xodus' report in February 2017, which determined that the P50 OIP had increased to 32 million barrels, an increase of 53% from the 21 million barrels reported prior to 2016 flow testing. Gross Contingent Resources rose to 1.5 million barrels (0.5 million barrels net to UKOG) with a further 1.7-6.6 million barrels gross recoverable (0.5-2.1 million barrels net to UKOG) being possible via implementation of a water re-injection scheme." 500k to UKOG without injection , with injection maybe another 500k ,to a theoretical maximum total of 2.6 million with injection." ================================================================================= 500k to UKOG without injection , with injection maybe another 500k ,to a theoretical maximum total of 2.6 million with injection. Talk of billions of barrels needs clarifying. The recoverable is VERY much smaller

"@Cyan2 - this is a standard boiler plate statement given when no announcement of commerciality has been made. Bring on EWT! Cheers! Red" Yes bring on the EWT. Whatever your view of NUTECH's warning; one thing is for sure ; their words ", there is no assurance that oil can be recovered in commercial quantities and at economic flow rates from the tight oil plays of the Weald." Seem to have been spot on for BB. Good luck Red

"But hey I could be wrong, but then so will Xodus and Nutech." Regarding Nutech; these are their words; ", there is no assurance that oil can be recovered in commercial quantities and at economic flow rates from the tight oil plays of the Weald." The billions of barrels OIP do NOT necessarily translate to commercial viability. The warning was clearly given.

As predicted ; raving denounciations "Completely lost his marbles" Just because someones view differs; doesn't mean they're 'nut's' https://drillordrop.com/2018/04/25/fracking-researcher-wins-academic-freedom-case-against-glasgow-university/ “I have no reason to doubt your integrity as a scientific researcher, and hope that you will continue to be as productive in your research as you have been since your retirement in 1998.”

No hard feelings Red. Cards on the table? My view was formed by a cold dispassionate assessment of the evidence to date. I listened to SANDERSON and SMYTHE with an open mind. Remember what Nutech wrote about their numbers; ", there is no assurance that oil can be recovered in commercial quantities and at economic flow rates from the tight oil plays of the Weald." The EWT will go a long way towards settling the issue. Good luck.

hi Red; I looked at the evidence and results Before I came on this UKOG thread to comment. I awaited the BB result before settling on my more sceptical view. I gave SANDERSON the chance to prove his COD and show BB WAS another HH. His much maligned critic Professoe SMYTHE (Wait for the raving denouciations) had a different view. No i am not a geolgical expert but SMYTHE is and I can read results. BB was not like HH and 'likely sub-commercial' SMYTHE has his view on HH. Let's see if he is right, again. http://www.davidsmythe.org/frackland/?p=398 "one certainly cannot extrapolate the fault zone flow results from HH-1 to the Weald generally. Using Schlumberger’s figure above, and a produceable reserve from the fractured tight KCF formation of 1% of the oil in place, HH-1 might be able, optimistically, to produce 177,000 barrels from the fault zone. In other words it might make enough to recover the costs of its exploration and development. This sort of figure might also be applicable along this and other fault zones. In conclusion, the Gatwick Gusher’s results are anomalous because UKOG drilled a fault zone. It is irresponsible and misleading to apply those local flow results outside that and other similar fault zones, i.e in the 95% or more of the KCF which is not affected by a fault zone"

Hi argus1. Can not disagree with what you wrote. Once the pool has been drained its all about how fast the oil seeps from the Kimmeridge. The EWT will, eventually, go a long way towards understanding. The result from BB was very concerning as, after 8 months, only tiny amounts were found to be recoverable. If the COD exists as SANDERSON claims; the VERY slow release of oil at BB will, imo, means the problem is likely to be replicated elswhere.

Good morning argus1. Interesting points about the Kimmeridge and possible pooling in localised fractures. There is obviously some movement of oil in the tight Kimmeridge as tiny amounts were brought to the surface at BB. If there is a VERY slow movement and you have millions of years to wait then maybe fractures could fill. Its all about how mobile the oil is. The EWT will settle the arguement

Good morning WelshTopTrader The pipeline is for Aviation fuel; you can't mix crude oil from HH and use the pipeline for both.

"is it possible that they could have installed a branching pipe to allow a connection from, say, HH to be added easily if required?" There was this useful link posted yesterday on the pipeline; hTTps://www.getsurrey.co.uk/news/surrey-news/esso-fuel-pipeline-replacement-find-14461633

Good luck RED. Just my opinon. Started something here today, oh dear. The EWT will be interesting. I think the Portland has a chance regarding possible commercialiy . Have doubts about The Kimmeridge. Time will tell

Sorry Red; You misunderstand the situation. There are independent directors giving oversight. THEY WERE NOT the ones who had options under discussion; ""The independent directors determined that to ensure the continued alignment of the interests of shareholders and the option holders and considering the liquidity of the Company's shares it would be beneficial to extend these options rather than allow their exercise in the current open period and consider the grant of further options to both the CEO and COO."