Member Info for CynderLad

Yeah, yeah, yeah...

The Loxley news is due and I think we can all agree that the likely outcome is that SCC walk away with egg on their faces + a huge legal bill. Penny Rivers and her mates will still be sipping fizzy wine whilst reading the latest XR headlines and Insulate Britain tosh.

What does that mean for the SP? Well, I'm sure that it give the *opportunity* for a jump, and if you like a quick trade then "maybe just maybe" it gives someone who knows how to take a quick profit that opportunity for a few quid.

But, it does not change the fundamentals one bit. UKOG are flat out of cash, and have to raise to drill Loxley, so be prepared for something in the order of £5m+ to be raised via placing. Unfortunately, UKOG do not have sufficient nominal shares to issue to raise anywhere near this level of cash before the next AGM, that's unless they bring an EGM and motion(s) to allow them to do so.

On top of this, UKOG do not have the cash to cover the rest of the Turkey commitments. I assume you can all read RNSs and understand what their capped spend commitments actually cover and what they do not. So more cash needed there.

Then there is HH and production from HH1. Great that Brent has climbed in value and that was essential to help bolster the revenue stream from the asset. But the fact remains that Oil production is dropping (albeit quite gradually).

But, back to Loxley, is there really gas or oil there? check out the statements in the posts yesterday, from formal publications! Drilling for dust me thinks.

Don't talk about Broadford Bridge abandonment costs. LOL....

Drill or Drop should really be renamed to Drip and Droll.

Correct, the application to explore and subsequently produce O&G is a legal matter, any decision to refuse/permit an application is not a political one, it must be done so in accordance with the law.

XR/Swampy/NIMBY objections to O&G in the UK on the grounds of "we don't need it" or "it flies against our future carbon neutral commitments" will fall on deaf ears from a legal perspective. There is no law that says that O&G exploration/production must be ceased, thus their views that it must be ceased are meritless and nothing more than noise.

Unless the government make some serious changes to policy and then bring in law changes, then XR/greenpeace know that their campaigns are nothing more than a PR machine.

Do I want to see CO2 drop and our climate, environment, ecology, and economy protected? Absolutely I do !!
But is it a legal requirement that mandates that O&G exploration and production cease right now? Absolutely not !!

Zoom,

You can talk the talk, but can you walk the walk.

It's simple to setup a Twitter account, so do that, take a video, post it. Make sure that you reference something said that is "todays news" (e.g. Boris speech at the TPC).

If you cannot do this, then do you really expect those here to believe what you say?

It's all conjecture on the part of UKOG, you see they are writing their own script.

Frankly, I cannot see beyond the following statement as a massive red flag:

"The Godley Bridge gas field was discovered in 1982 by Conoco with the well Godley Bridge-1, which tested gas and a small amount of condensate from Upper Jurassic Portland Sandstones. The trap of the Godley Bridge structure is a broad east-west trending anticline of Tertiary age. There have been two further wells on the structure neither of which encountered hydrocarbon bearing reservoir. Godley Bridge-2 and 2z were drilled to the west of Godley Bridge-1, both failed to find hydrocarbon bearing sands. The top Portland was encountered deep to prognosis and below the GWC as seen in Godley Bridge1. The well penetrated 314ft of gross Portland reservoir. "

To quote Bones McCoy from Star Trek "It's dead Jim" (It being Loxley).

Merely a ploy by UKOG CEO to raise more cash to preserve his lavish lifestyle through to retirement.

All in my opinion of course.

iGas, that's in PEDL 235, Loxley is PEDL234, they claim it to be bridging the two licenses. We'll see.

Think folks should read the CPR from 2018, see link: https://www.ukogplc.com/ul/UKOG%202018%20CPR%20060618.pdf

"Godley Bridge is a discovery in PEDL235, which is the neighbouring licence to the west of PEDL234. A recent review by Xodus of the interpretation of wells and seismic shows that there is potential that the Godley Bridge discovery extends into PEDL234.

The Godley Bridge gas field was discovered in 1982 by Conoco with the well Godley Bridge-1, which tested gas and a small amount of condensate from Upper Jurassic Portland Sandstones. The trap of the Godley Bridge structure is a broad east-west trending anticline of Tertiary age. There have been two further wells on
the structure neither of which encountered hydrocarbon bearing reservoir.

Godley Bridge-2 and 2z were drilled to the west of Godley Bridge-1, both failed to find hydrocarbon bearing sands. The top Portland was encountered deep to prognosis and below the GWC as seen in Godley Bridge1. The well penetrated 314ft of gross Portland reservoir. "

Now pray tell, how can UKOG get RBL from any lender given the above statements in the CPR.

Is there a newer CPR and have Xodus given a formal CPR on Loxley?

I wonder if BKP will have put their charges up given the driver shortages? I'd expect that to be a firm "yes".

I had rounded the figures, but accept it's 95 rather than 90 bopd. Still a steady decline.

No amount of ramping on this board will serve to increase the oil output or to reduce the water cut, or to make BKP contract charges cheaper.

FACT: HH is delivering less oil with higher costs proportional to those 12 months ago. Price of Brent is the only positive, that's up quite nicely of late.

Pete, I doubt that UJO will take any notice of your post and will therefore not reply with a tweet.
Be better if you get some of your so-called local contacts and tea brew mates to post recent videos rather than stuff from 2019.
Meanwhile, we wait for Roofers Hound to do a fly-over and show us the real current state of affairs on site at WN-A.

DB has gone completely AWOL, not what you want to see from a CEO when the company is plummeting.
Come on DB< apparently you read this message board, so how about you man up and show us what you're all about, a proper interview and answer the many questions that PI's have right now. You've been backed to the hilt by many, now it's time for you to show some mutual respect and return the favour.

LMAO

Oil production down to 90 bopd, gas production down, and water cut at 40 bopd.
Trending downwards at a rate of knots.
Water disposal costs hitting hard, I wonder if BKP will have put their charges up given the driver shortages?
Less oil = less revenue, so water disposal will be eating up an even greater % of the profits.

Meanwhile, in leafy Surrey, the CEO wakes to another day of loveliness all paid for by PI's.

Arreton is a non-starter, and PI's should rejoice when it's turned down as it means that they'll not be force-fed more mint flavoured confetti by the worst CEO on AIM.

Just in the same way that they could raise cash through RBL for HH and Turkey right? What a numpty. UKOG will need cash for Loxley, but it will be poor PI's that pay for it. "another wafer thin mint?" There must be a few hundred PI's who are just about ready to explode from all the mint flavoured confetti they've eaten....

Any idea on the video from Brobberspam, is it from 2019, if so, what evidence is there to confirm that it is from 2019.

With regards to the tankers spotted at WN, has this been confirmed with pictures/vids, or is it just hearsay?

The only realistic prospect short term for those that want an exit / quick trade will be the Loxely application planning appeal being overturned. That will happen, I have every confidence that the planning inspectorate will trump SCC, and that SCC will be left with a severe amount of egg on their faces. Penny Rivers will not care one bit as she will still focus on the XR contingent in Surrey and keeping them happy. XR folks will not care as they don't see it as a waste of public money to refuse a perfectly good planning application. But the bottom line is that Surrey folks are going to lose out.

p.s. the blocked letters in Sc.un.thorpe are blocked for a reason. But they would also sum up the CEO of UKOG, he's certainly a bit of a Sc.un.thorpe.

The WetBandits,

Thanks for your wonderful comments on the matter, they really are an eye-opener. (clearly I'm be a touch sarcastic)

As for past performance, actually you are very wrong. Past performance is probably the best indicator to future performance. I'll give you one simple analogy to chew on, when was the last time that S****horpe United made it to the final of the FA Cup? A strange analogy you may think, but look at it this way, S****horpe are a minnow and are cash strapped and have limited staff, skills, players, cash, expertise on the big stage, etc, etc, etc.

Now compare with Man United, loads of cash, lots of players, huge experience on the big stage, and if they made the FA Cup a priority, then they would likely win it a few times in the next decade.

Wait you say, what has that got to do with the price of fish?

Well, look at this way, If S****horpe had any decent players (i.e. assets) then Man Utd (or one of any number of large MAJOR outfits) would scout/appraise that asset and buy it.

Hmmm, but what has that got to do with Loxely and Hydrogen?

Well, if prospects of Loxley delivering any gas were good, then why have the major's all decided against it? Some have even drilled in that locale historically and written it off. Why would Hydrogen production on an undrilled well actually deliver a positive asset for UKOG, they'd have to raise a considerable amount of cash to drill the well, fight all the NIMBY/XR/Green/SCC, then they'd be praying for good results (short term gas, long term hydrogen) to repay that investment. How many years would it take to see a positive ROI? You're not talking < 5 years. So for the pipedream to progress, you are looking at huge cash calls (yet again) on a punt.

Back to to S****horpe Utd analogy, and the short term prospects of them making a headline. 5+ years of speculative punts and huge cash calls advance them no closer to their goal.

But what has that to do with a potential/existing investor? Hmm, I'd rather put my cash into a club that could show a short-term ROI. Man Utd (not my team by the way) could offer that, or any other number of clubs.

And so, when it comes to investing my hard earned, I'll stick with the big boys who have a history of excellent performance (BP, Shell, etc, etc) for the solid baseline in my O&G portfolio. And for a speculative punt, I'll take a couple of minnows (UJO + OEX) with better assets that could deliver something tangible and short-term value .

Ok, back to you. Maybe you have a DeLorean and can tell us the future of UKOG and how they took the world by storm after drilling 100 wells in Turkey.

Load of nonsense. Be better and more affordable to convert existing wells for hydrogen production, than to drill a speculative well hoping to hit gas at Loxley. Can you not read the iGas CPR's for the very nearby plays? Can you not understand that the updated CPR for Loxley was using the same data as the previous CPR, but UKOG paid consultants to use a more favourable model to get better figures? SS and his mates are conning PI's into a velvet dream. Loxley is an absolute waste of time. Be better drilling a 3rd well at HH, into the Kimmeridge, after all, they are committed and required to doing just that. Or would you prefer the CEO and his mates to continue with placing after placing after placing?

Well said Persimmon, I recommend you use the filter option. I find it excellent at getting green boxes instead of unsolicited ramp noise.

True.

Dont forget the NIMBY agenda though, they'd rather oil be produced elsewhere.
However, just in case you missed it, another major oil leak on the US coast the last 24 hours. That's what happens when you have to move oil around.