Member Info for CynderLad

Ibug, that is not a planning office matter, that is a committee matter. AT no point in that RNS is there any mention of the planning officer being required or mandated to re-write his report.

It simply reflects the initial legal benefits of UKOG having SCC over a barrel.

Suggest you do some further reading.

Ibug, not sure if you have much experience with planning. But once an officer has made his written report and provided his recommendation, then he/she is not able to simply change it on a whim. There must be a significant material reason for a change, and to my knowledge, there have been no new documents attached to the application, nor has there been another period of consultation.

So for example, if it had been deferred by the committee with a formal request for consultation to be re-opened and for the travellers to be considered, then it would be quite reasonable for a planning office to have to consider any additional input.

There is some Twitter banter going on about it. Not sure of the arguments being made, not looked into it properly.

If I have an hour to spare then I may join that live broadcast on the 27th, just to see whether the councillors are as inept as last time; they are not the smartest bunch, that much is for sure.

Ok, whatever Dave the Drill, aka FOTH.

Interesting how Skwizz only ever posts negatives. Did not see him post about gains the other day. Its just de-ramp after de-ramp from him. I've marked him down as an objector rather than an investor.

SS knows exactly what is going on, but he chooses to hide that from the shareholders. The updates are always late, they are lacking detail, and hide the real information through obfuscated statements that mislead rather than inform.

This really does raise the most important question that any CEO faces; Can the CEO be trusted?

My view, if you cannot guess by now, is that SS cannot be trusted, has failed to uphold his responsibilities to the shareholders and should step down from his post. If a CEO on a mid-cap company performed in the manner that SS does, he would be booted out by the board.

Oh, I do know why SS does do a proper presentation to investors, its because he is a joke of a CEO with zero consideration for shareholders and their hard earned.

Its a disgrace in this modern age of technology and communications channels to have a CEO who is too lazy to update the people that actually own the company. If this was the 18th century, he would have been on the run for fear of punishment.

Get off your sorry excuse for a CEO, and do a proper investor presentation. Only a lazy inconsiderate womble would ignore their responsibility to shareholders.

p.s. It should be quarterly at a minimum for a company of this size.

WHy doesnt SS do a proper investor update. A 30 page powerpoint slidedeck to cover:
1) performance and data for wells at all UK assets through the last 12 months
2) strategy and plan for UK assets, including timetable for further remediation at HH
3) Turkey - the full picture including financing, schedule and expected outcomes
4) Covid cost cutting measures in relation to director & staff remuneration
5) Tips on fine art trading

Gin time beckons. Have a good weekend, I don't do trading or chat after 4pm on a Friday.

Looking at the RNS from 23rd Dec 2019:-
"Immediately following the current HH-2z shut-in, flow lines were reconnected to HH-1 and dry Kimmeridge oil flow was resumed on 18 December at an initial half-hourly rate of 354 barrels of oil per day ("bopd") with an average daily rate of 301 bopd."

RNS from 28th Jan:-
"The HH-1 Kimmeridge interval will now remain shut in for a further long duration pressure build-up test. Plans to install a dual completion to enable HH-1 to produce from both the Portland and Kimmeridge oil pools are being formulated. A future Kimmeridge appraisal/production well is also planned, once full Portland Production and positive cash flow has been established from the field."

So Kim was last flow tested between 18th Dec and 28th Jan. I've not seen anything since.

The last figure I could find for Kim flow totals was in RNS from 9th Oct 2019:-
"Total HH-1 Kimmeridge test production now stands at over 41,800 barrels ("bbl") of light, sweet 40° API crude, pushing combined total aggregate Portland and Kimmeridge production to over 71,368 bbl. No discernible Kimmeridge formation water has yet been recovered to surface."

Hence, why the hell have SS and his merry mates held back further updates on the Kim. Its been ages since a proper update. The last we heard was that is was still producing very decent flow rates, dry oil, and was due for dual completion.

The mind boggles as to how a CEO can get away with such blatant deception.

As fact checking is popular right now, especially in relation to POTUS.

I'll fact check the statement from Baits, which is completely untrue.

The Kim has produced a considerable amount of oil to date, 100% dry oil.

You can go read the RNS's that detail this to be the case.

The Kim is still a prospect of note, sure it may be a trickle of oil, who knows. What is known? Well it has been shut in for a long time now. I cannot put an accurate date on it, but it feels like 9+ months. Maybe the last period of testing on HH1 Kim was very poor, but could the pressure have built back up to a level where it could deliver 100 bopd for a year?

There are many unanswered questions, and SS is withholding very sensitive information. It has been seen in planning applications that UKOG have labelled the Kim as sub-commercial. But given that HH1 is already drilled into the Kim and the high costs of that are already accounted for, then why not produce from what is there? Sure it may add some additional running costs to the asset, but 100 bopd over a year is still a very reasonable $1.5m at $41 a barrel.

How much would it truly cost to dual complete? ANd how much oil could the Kim actually flow over a 12 month? How much could it flow over a 5 year period?

Or is it all insignificant as the Portland is tailing off and the water cut is increasing. Is the HH asset now a dead duck?

A positive news update would not be withheld. So I am assuming the worst.

All eyes on Turkey and Loxley. I'm sure there is Robin Hood joke in there somewhere; but right now it feels like SS is the Sherriff of Nottingham and is stealing hard earned from the PI's.

Overdue RNS has landed, oil production numbers not great. ~150 bopd average over 6 months.
No mention of water cut % over the 6 month period, but a clear warning that it is normal.
No mention of dry oil.

Bit annoying that they are burying such matters rather than just calling it out. Also no mention of when PBU will end?

It stinks, that RNS is a poke in the eye to investors. Silent Steve should be ashamed.

Alustu

In quote a mad man on Twitter "LoooooooooooL"

Placing in the next 2 working days. You cannot be serious.

https://mycouncil.surreycc.gov.uk/ieListDocuments.aspx?CId=122&MId=7523&Ver=4

27th Nov, not been cancelled yet, and still due to be in person.

However...... I doubt that the status has been updated to reflect the latest Covid lock-down. Will SCC planning committee meeting be considered as an essential service? Personally, I think planning meetings are essential, otherwise, the whole of the nation will enter into a freeze on new development whilst planning folks put countless applications on hold. Something that the economy would not benefit from.

So, will SCC revert to a virtual meeting as they did on the last Loxely application review back in the summer? There is no legal reason why they should not, there is no reason for further delay, it can be done using technology at their disposal.

Agenda for the 27th is not published yet, probably not before the 13th. So folks will have to sit tight.

Place your bets.

Just watched the video on Youtube of the Rig on the main road. Oh dear, that was unfortunate. Scrapping off the surface of the road a little.

The council will have to inspect and potentially add it to the list of roadworks due in the next 2 years.

Do SCC have enough budget to do the roadworks? Maybe some extra income from UKOG would help.
What is the road surface made from? Oh yes, that's right, it has oil derivatives, lets hope that there is enough to go around. Otherwise, it will need to be a concrete road, and concrete production is a damn site worse than oil on a pound for pound basis.

TW edits are a waste of time. I'd not spend a penny on anything he puts out there.

Its chip shop paper at best.

You'd be better off laying spin the bottle with investing decisions than using TW edits.

Looks like the "tin hat" brigade are a bit disappointed today. I'm sure that they were expecting the SP to drop > 10%, but it has actually gone up. The price of Brent, 2nd Covid lockdown, July OGA figures should have been the perfect combination to drive the SP down down down.

They must be gutted.

I'm not making any claims that this is the bottom; but I do find it entertaining to watch the XR folks flapping and posting on here.

Aside from that, come on silent Steve, where is that RNS. You are at least 1 week late and are definitely withholding market sensitive news.

Has he not got an active LSE account? Such a shame, as I'm sure he would love to blow us all away with; his extensive diction, his world class grammar, his appropriate use of words, and his use of "LooooooooL"

I really miss his highly educated opinion. His basic certification in fire extinguisher testing obviously makes his an expert in the oil and gas industry. So much so, that his tweets in the past on the oil pipeline that is close to HH must have been a nailed on upgrade to production. LMAO. Seriously, that punk used to think that UKOG could use the oil pipeline to transport crude to the refinery. He was wrong on that. Just like he is wrong on pretty much everything he posts.

I dread the thought of anyone using his company to test their extinguishers.

His geology knowledge is also second to none, he knows more than any other authority in the UK on geology. So much so, that historically he was able to claim that HH would be the next Wytch Farm. And now he is ramping UJO with his expert knowledge. I guess he is heavily invested with anything upto £500 invested on UJO. "LOOOOOOOOOL"

Hey ho, there you have it. I heard a rumour that he will be moving to Southampton to work in the Geology dept in the University there.

Trolling over.

The good news with Turkey is that the Twitter moron will not be able to try to influence the sentiment of the company. Its pretty rubbish to be fair.

Keeping the eyes open for the moron's knew account. You would think that LSE would do something about his continual abuse of their Terms and Conditions. Maybe they do it for fun, let him have his fun in the playpen once a week.

I dont see a de-list happening in 2021. Can never say never though.

It could go much lower than 0.08, but it could rally to 0.2p also.

A few factors to consider.

Loxley - 27th Nov - will it get approved?
HH1 work-over RNS - what is the story?
OGA stats - is oil down and water up?

You can of course ignore my £5 post earlier.

I'll go for 0.0915p for close ahead of Xmas.