Member Info for CynderLad

Ozzy, I see that your talents are extensive.

It's not just about profit, its about fairness.

I was pro-UKOG and had a plan to invest across 3 to 4 phases. I did plenty of research, and on the surface there were many positives.

But then you dig a little deeper and you see the reality; the company publishes half truths, minimal data, and hides bad news away behind the facade of "pleased to announce".

If you used their approach in 18th century France it would be along the lines of:
"We are please to announce that the efforts to curtail matters has been completed and we see great potential in the near term upside"
whereas it would have been as follows:
"We chopped her head off for her pagan beliefs, beware to any who dare do similar, you'll be punished"

Red Flag indicators:
1) CEO does not own shares
2) CEO does not do interviews
3) CEO does not do investor calls
4) CEO does not broadcast AGM, instead you have to go through a horrible process
5) CEO does not publish recording of AGM
6) CEO uses language like "smell the oil" "big cojonas" "train leaving the station"
7) CEO is always "pleased to announce" in RNS's, whilst burying bad news
8) CEO covers up the real truths through publishing very small amounts of real data.

Can I make it to 10? You bet I can

9) CEO refuses to update web-site with latest information
10) CEO refuses to provide a proper plan with real dates and project milestones

Am I finished? No

11) CEO is refusing to do the job that we measure him to do. He doesn't deliver on the company's own corporate governance.

Am I done, well that is enough.

And for those who say "it's not up to the CEO to do all those things listed above", I say "Wake up, SS is the man at the helm and his gross incompetence, deception and ongoing attitude to shareholders is an absolute disgrace".

I think the 2p to 5p target is possible.... AFTER a massive share consolidation, say 1 for 20, or 1 for 50 level of consolidation. Otherwise, you'd better get used to talking about how the SP used to be above 0.1p.

Groundhog day. yes. Another day where Silent Steve the cardboard CEO goes another day without providing a proper update, doing an interview, or agreeing to do an Investor call. What more could you want? Personally, I think the time would be better spent learning to play the piano than spending half the day on here hoping for a miracle.

The jester is in full swing today I see.

Ozzy, I may just have to use the filter bin for you. I try to avoid doing that. But I can see that you are clueless in respect of the basics of O&G production/science. I can only speculate that you are a trader holding a loss and looking to make your 5% profit, or maybe a LTH under water. There are plenty here. Frankly, only a fool would follow the advice of rampers, and a king only employs a jester for the occasional laugh, nothing more. So on that basis, and as you present no harm to me, I'll not pop you in the filter bin.

Ozzy, where di I say I was not qualified? You are making assumptions.
And what qualifications are you after? Corner shop management or O&G industry related? Maybe I should have brushed up on my childcare before exchanging comments with you.

I am not holding a loss right now. As I bought in some time ago. You can go check through my history and see when and what for... If you are that bothered go and scout through my posts.

As for my supremacy. I do not doubt it, you may jest, but that's just making me giggle.

As for trading, I am also in UJO, and bought in there at 0.1625p (again go check my posts), holding there, not selling and will make a very decent profit. As for other trades, I do not dabble much in stocks. Very much a case of keeping it to a very short list. I am also in ODX and holding a profit there too. 3 outta 3 for my small cap stocks.

Ibug, saying it is easy to isolate Kim and Portland = yes, true as is the case right now. But Ozzy was talking about isolating the older perforated section of the Portland whilst perf'ing new sections of the Portland layer. LOL, yeah sure Ozzy, that is child's play, you can do it with some polyfiller and a long handled spatula, LOL. Ibug is of course right, this is achievable with a variety of different options, but UKOG have not once said that they were pursuing that approach.

I'll let Penguins post on the trivial matter of porosity and how water migrates through porous rock. Perf'ing additional footage of the Portland does not eliminate water. Water is still present in the same layer of porous rock. Water will migrate through the full layer, its really a question of how much water there is, where the oil resides in the layer and how the water is affecting the oil. Water pressure can increase oil production and recoverability when injected into the play, pumping water into HH2z could boost the output of HH1. But it will also lead to water cut increasing, not a problem as it can be re-injected. The real questions are the connectivity of HH2z with HH1 and whether the water injected into HH2z will give the required pressure support needed to force more oil out of HH1. Has anyone seen any formal comment from UKOG on this, and their expectations?

Personally, I do not expect to see oil output in November 2020 exceed 100 bopd, and I expect water to be up on the Sept figures. Will UKOG issue an operational RNS soon, or do we keep having to wait on OGA figures for the materially important update that the market and PI's require?

Ozzy, suggest you do a little more research. If UKOG were going to workover the well to block off water producing layer, then they would have made that clear in an RNS. They did not say anything about doing that.

Furthermore, with HH2z they blocked off the well from the point where they thought they could eliminate water ingress. They did not span that water producing zone, they blocked it all off. They did not say how much of the 1500ft horizontal was plugged off.

With HH1z, the approach would need to be different. Its not a horizontal well. If they blocked off the well as they did with HH2z, then they would lose access to the Kimmeridge layers. If they wanted to block off a higher layer of water producing Portland section, then they would need some specialist kit to do so (see similar effort by ANGS at Brockham which did not turn out well). They cannot block off a layer without a very serious work-over rig (see Rig that did the workover on HH2z), the rig they had for HH1z workover was not the right spec for what you are talking about, nor was it there long enough, nor did UKOG make any indication of any work to block off the then producing layer.

What they did do is re-perf the Portland and lower the pump. They say that no water was produced in Oct, I say that is misleading. They took well completion fluids from the well (that could have masked the actual water taken from well). You will find out in 4 weeks time, when the Nov figures are provided that Water cut is still an issue.

Have UKOG provided a timetable for the conversion of HH2z into a water injector? Have they said how much it will cost? Have they said how much it will save in disposal costs? You need to ask yourself why they are not providing this basic information!

As for my qualifications, none of your business. But I will add that a basic intelligence and focus on the "info that is missing" will give a different perspective versus believing some of the dippy ramping that goes on here. If you are invested, then I truly wish you good luck. I do have a small investment left in UKOG, not presently a loss, but I wish I had sold in the run up to the SCC meeting for Loxley and taken a small profit. So I am interested in seeing some positive news, but all I see is deception, half truths and lack of information from a CEO and a board that would have been sacked long ago if working for a larger company where shareholders have greater power.

Ozzy,

No they did not block the water bearing sections. Where in the RNS did you see that mentioned? Did you see a work-over rig capable of performing that work? Do you even know what is involved in blocking off a part of a production well?

Your comments are laughable. Truly laughable.

Suggest you go read about the HH2z workover, and what they did there to close off part of the well. Maybe go look at a few Youtube videos whilst you are at it. That's Youtube as one word, not 2.

Ozzy, so they perf'ed extra footage, does that mean that the old perfs just stop producing (oil,water,gas)? Keep trying though. Too many swing traders here hoping for a quick buy/sell.

Too many negatives in this one for me to be interested. Turkey is a punt. HH is a dead duck. Dont get me started on BB, Loxley, IoW, etc.

Tony, I take on board your comments, you are of course correct. I am speculating. But why else would a tanker be returned to site and left there for the weekend? It went it with wheels down and N66 left without it hitched up? Why would perfectly good oil be returned to site? I think all roads lead to Rome on that one.

Penguins,

Its a joke right. RNS says HH2z convert to injector.
N66 dropping off a tanker last Friday and leaving without it attached = water needs separating from oil because it doesn't meet refinery requirements.

Yet, some here are claiming that HH1 is no longer producing water.

Its laughable. UKOG have in my opinion not provided the correct stats to the OGA. And even if October was correct, then we know 3 months down the line that water is being produced. We also know that there are very few tankers going to site and that production has dropped off a cliff edge.

I dont see any positives for HH. What would the HH asset abandonment costs be? Will HHDL deliver enough profit to pay off loans and cover future abandonment charges?

HH is going to lose UKOG more money than it will ever make. Folks need to wake up, do some proper thinking.

HH is a dead duck. It's not going to produce enough oil to make it a worthwhile venture. Its short term retention is there for the company to use to peddle shares and placings, along with the Turkey pipe dream. SS is akin to Del Boy, but at least Del Boy has the decency to speak to folks, whereas Silent Steve refuses to do an Investor Q&A or release the full details and data for HH. Put it another way, if HH was decent, then they would release data galore and a CPR. As they haven't then I would be very wary of touching it with an extra long barge pole.

Its great news and as a holder I am a happy chappy this morning.

Have seen some stuff on Twitter, folks claiming its £2M p.a. to UJO.

I think that needs to be evaluated further. The operator will only give UJO a share minus costs.

200 bopd * 365 days * $56 = $4,088,000 p.a.
Minus the costs, say $16 per barrel, then that figure is : 200 bopd * 365 days *$40 = $2,920,000
US to UK exchange rate = £1 = $1.37
So net P.A. to UJO is $2,920,000 / 1.37 = £2,131,386

That is not to be sneezed at. But the idiots on Twitter need to back off the £4m net P.A. to UJO. Its not anywhere near that figure.

However, that is a good figure and is a lovely platform for this junior oiler to build upon.

WN is the big prize.

Now UJO, unlike UKOG, will have a nice steady stream of income to pay all company overhead costs and deliver some profit.

No water, seems to me that UKOG have now misled the OGA. The scam goes on. There is no end to the levels that the CEO and board will go to, deceiving PI's and now the regulatory body. Water doesn't just dry up like that, highly unlikely.

Ibug nailed it.

AME are getting paid, one way or another. Will AME be adding a nice margin to their charges, or will it be pure cost? I've not seen anything conclusive to show that AME will not bang a nice little % on top.

Who's paying, mug PI's.
Who's laughing, Silent Steve (in the style of Mutley outta wacky racers).

I'll tell you this much,

Given that Silent Steve and his chums decided not to make any statements about UKOG being fully funded for the Turkey drill in the RNS dated 20th Jan titled "Completion of Resan licence agreement with AME", then you can draw your own conclusions.

My view, as they decided not to mention anything about funding, then they are short of cash and did not want to tell the market.

One thing is for sure, Silent Steve loves to brag given the chance, so if they were fully funded for the first drill, then he would be shouting it loudly from the rooftops.

My verdict, they are short of cash, will have a placing already being forward sold into the market. Give it 4 weeks max and you'll see an update I reckon. AME will be wanting that cash, they are Turkish and don't suffer fools.

SP heading to 0.105p in my opinion.

C'mon Silent Steve, prove me wrong.

Reddit is pushing a lot of activity in the States. You will of all seen the headlines. Looks like a decent community in the USA are doing a "Mr Robot" and trying to take out some major hedge funds. Good on them. Hedge Funds suck. I hope that they find a few candidates in the UK and the "robinhood" mantra makes it's way back to our shores, take some of the scumbag hedge funds out, especially anything that Jacob Rees-Mogg and his cronies are associated with.

No chance of UKOG paying in cash. Zip, zero, ziltch, nada, none. Silent Steve is probably watching scrooge mcDuck and wondering if he should try swimming in his own cash, then forgot to issue the RNS.

Its outside of UJO's hands though. They are junior partners and cannot force the EWT to commence.
It's disappointing that WN-A has not been put through an EWT as yet. When will it happen? I don't have enough info to answer or speculate. I will say "the sooner the better". Is there enough data already available to get a "major" to make an offer (or an improved offer)? They are fishing for a big offer, and then it's a case of what bait you need to catch that major fish. Right now, its a sprat on the hook, a successful EWT would replace that with a mackerel. At some point, the bait will be sufficiently appetising that the major fish will be lured. Give it time.

Its outside of UJO's hands though. They are junior partners and cannot force the EWT to commence.
It's disappointing that WN-A has not been put through an EWT as yet. When will it happen? I don't have enough info to answer or speculate. I will say "the sooner the better". Is there enough data already available to get a "major" to make an offer (or an improved offer)? They are fishing for a big offer, and then it's a case of what bait you need to catch that major fish. Right now, its a sprat on the hook, a successful EWT would replace that with a mackerel. At some point, the bait will be sufficiently appetising that the major fish will be lured. Give it time.

SS must be pulling his hair out. The Turkey pump clearly hasn't generated the interest from mug PI's to help get SS's placing mates a tidy and quick profit on forward sold stock. How much are they trying to raise? £2m at a minimum? I've lost track of how many new shares they can issue and what they could raise at 0.105p.

Wonder how many WH Ireland have managed to shift.

I bet they are trying to get 50% shifted before Silent Steve lodges the RNS.

Whilst I'm on the topic of the CEO. How about a poll to collect the opinion of PI's here.

Poll : When will Silent Steve have a proper Investor Q&A session?
A: 2021 H1
B: 2021 H2
C: 2022
D: Never - UKOG will de-list and Silent Steve will retire on a pretty penny
E: Any other opinion.

I'll kick it off:
D (and I wish I could put that in size 50 bold font.