Member Info for CynderLad

p.s. Craig news. Let me help you count months.

October = 1
November = 2
December = 3
January = 4
February = 5
March = 6
April = 7

So when you say "enough cash for 5 months from October (till now)"

Actually, 7 months have passed, not 5. But hey, your a math genius.

Where do these people come from?????

Craignews,

100 bopd * $50 profit = $5,000 per day, which over 6 months gives $900,000, which when converted to GBP = £650k.

Water disposal costs?? I don't think They will have cleared anything more than £300k in net profit.

£300k just about covers the gap in placing for Turkey (£2.2m) and the minimum costs for Turkey (£2.5m).

And right now, UK still have the UK operations to run, with monthly costs that will require £1.6m+ to cover the next 6 months.

So, yeah, I know didly, right oh.

There is a placing coming to pay for the UK operations + to top up on Turkey. I think Turkey will cost more than they have publicised, as they were careful to say on Oct 2nd "initial drill and seismic", but then in the annual results they changed that to "initial costs".

Well "initial costs" might just be the cost of preparing the well pad and getting the rig to drill a bore hole.

I suggest you go do some more math and more research.

I estimate my own research to now be 100+ hours of analysis. I've yet to get any real reward for that research.

Alternatively, "go put your head in the sand, it'll all be fine"

LMAO. Its red. And it'll slide lower because everyman and his dog knows that the placing is coming before spud.

You can pump it all you like, but the annual results speak for themselves. UKOG are short of cash and nowhere near enough cash to pay for Turkey and UK operations for the next 6 months.

£2.2million raised in Oct
£1.6million left in the back at end of Sept.

Turkey = £2.5million+ minimum
UK Operations = burn rate of ~£1.6m per 6 months.

Do the math.

FOTH, you are a clown. Did you not see Pboo this on LSE saying that I was you. LOL.

Your grammar is terrible, I've seen 7 year olds with better grammar and diction.

But, you picked on me, because I've called out your UJO sell earlier this week as being a bit early. It's up a good % since you sold.

Do us a favour and stay out.

et cetera....

But he did say he took some profits earlier this week, well he is now paying a higher price to get back in.
LOL LOL LOL..

p.s. FOTH, it is "etc" not "ect", which is shortened form of "et cetera"

Not seen a bean. Game over at HH, just a matter of time. If Turkey did pull of the miraculous, then HH will be abandoned. As will IoW and Loxley.

Mirasol, show me the framework policy and tell us why they (UK Gov) have not formally ceased support for exploration and development. The rest is just noise driven by politics and social media (who would want to do a degree in Oil & Gas exploration in today's society?).

Penguins. It is much better to see green filter boxes than to read the dross that Ozzy posts. He does not add value to debate or to research, just noise. Use that filter button, don't waste grey matter processing time on the fool.

I can buy £10k and sell £10k, no issues with dummy trades whatsoever.

That's a pretty rubbish article by a lazy reporter. I've seen better analysis here. Suggest that she goes look for another sector to report on; maybe Love Island celebrities would be a good start as that is well suited to her level of detail.

scagmelag, I'll buy them off you, just hit the sell button.

Continuing to produce oil. 3 tankers a week seems consistent.
Pboo will not be happy as he takes every opportunity to talk the site down and say things like "problems".
Proppant squeeze to follow.

100 bopd = ~3 tankers a week, 220 barrels per tanker, $67 per barrel, gives revenue of $2.3million p.a.
If they up that to 500 bopd, then revenue will be $12.25million p.a.

All eyes on WN next.

With Sando alone taking close to £300k p.a (~£822 per day), then you need ~22 bopd just to cover him.

Yeah, I think most people know that. He's done his time, but his past will always be there like a bad smell.

Heid, I think it's fine to post that story. Guess you don't like it when one of the chief rampers gets some bad press.

Honestly. What do you think the SP will do when placing is announced. Answer, same thing it always does, drop down to the placing level. But it won't matter to the folks forward selling, they'll get their 15% profit on a minimum of 50% of the shares being forward sold, then they'll drip feed the rest at break even, net result a tidy 7.5% profit.

How much will the placing be? £1.6million to keep the UK operations up and running for 6 months or so. Take that as my expected minimum. It could be £4million though, Turkey cash calls will need to be answered.

Thanks Penguins. Good post. The NAV is an interesting debate. I do recall similar debates about the Kimmeridge in the Weald. Guess that didn't turn out as well as the rampers expected. Billions of barrels of oil I tell you, billions of barrels. Now with Turkey, it's million of barrels of oil I tell you, millions!

Take anything Sando says with a pinch of salt. The guy is only interested in getting paid a salary. I bet he's also on a bonus for getting a single well in Turkey on-line and in production, regardless of whether it flows 100 bopd or 1000 bopd. p.s. watch out for "initial flow results", lets hope that AME provide the formal statements and not UKOG, that said, AME are pretty poor at comms themselves, so Sando may have the perfect bedfellow.

Just 24 trades thus far today. The RNS was just confirming what the market already expected. I don't see it creating a buying frenzy right now.

PinkGrapefruit == FOTH me thinks. Just wait for the usual grammar and spelling pattern and then the occasional use of the wrong name when signing.

I've not seen anything since Friday. Where FOTH was tweeting galore about tankers.
No tweets since then that I can see. Nothing from him or the eyes.
I don't have a Twitter account and don't follow people, so if he is in some private mode, then that may be why I'm not seeing anything.
But I think it was clear that FOTH had bought back in on UKOG and was pumping the tanker sightings to help his returns. Did he then sell and go to another oiler?

I'm sat here and really not bothered about FOTH or his investing patterns.

But, I am interested in whether tankers are still rolling or not. If HH1 is flowing 80-100 bopd, then it's 240 to 300 bopd since, that's enough for an oil tanker (and for a water disposal tanker too).

Simple math issues for Metalbasher... LOL.

37,000,000 * $33.5 (assuming that value is revenue per barrel after the 50% split, i.e. $67 * 50%).
well, that equates to $1,239,500,000 or $1.24 billion (rounded)

Where the "74million" comes from, who knows. And is that $ £ or SandersonCoins?

I'll let someone like Penguins comment on the NAV of the Turkey prospects pending P/C figures.