Rodders74, Good post Most accurate summarisation of UKOG's assets and excellent potential moving forwards. The Share price is so undervalued it beggars belief. We should now be trading in the 6 - 8p range with our proven fundamentals. As a comparable,Hur and SXX have market caps of 826 million and 1 Billion respectively yet have never had any producing assets/revenue and in SXX's case will have none until 2022 at the earliest. Hur intend to start producing within a year offshore ( north sea ). UKOG will be producing from multiple onshore wells in 2019. Do the maths.
As a LTH who has been here since early 2016. Last week's activity whilst disappointing did not come as a complete surprise. Anything's possible on the AIM. In light of the recent tremendous results, I'm staggered that we are still trading sub 2p. 2 commercial zones with K4 still to complete with cash in the bank and a regular income stream from the EWT which is set to continue and substantially increase.
Santamaria75, The 1000% rise that you alluded to has happened here previously. LTH's will remember what happened between May to Sept 2017. SP Sub 1p to 11p. Then settled at circa 7.5p. At that time we had no oil. This time we do and lots of it.
Karlovyvary, Most accurate and sensible post today. I would add that the SP should start to move northwards considering proven commerciality has been achieved within two of HH's three zones. Zone K4 still to come and should achieve flows of 900 bopd in isolation.Add to this our soon to be issued proven reserves which run into billions of barrels of onshore oil, cash in the bank and fully funded until the end of 2019. As a LTH I do however sometimes despair at the dilution of Shareholder equity and feel that certain options for raising finance ( YA ) could have been addressed a little differently.
YorkshieLife, I agree with your comments. Commercially, UKOG are in a far more prosperous position,having 2 Commercially proven zones at HH with a third to follow shortly. We have cash in the bank and are fully funded until the end of 2019. Our proven reserves of oil are currently being updated and when released will confirm billions of barrels of onshore oil. Yet our share price/market cap remains not to disimilar to what it was after the Broadford Bridge flow tests earlier this year. It is difficult to pinpoint the rationale behind the current SP. We should be trading at a level between 6-8p. I genuinely believe this is being held back.
A little surprised at the drop this morning considering that both the Portland and K3 Zones have produced oil flows to comparable rates to the short flow tests carried out two years ago. ( Portland flow rate was slightly higher and K3 slightly lower ). We have tested 2 Zones to date which alone will produce approx 700 BOPD. Zone K4 tests begin shortly and should conclude circa Christmas. We can expect flows of 900 BOPD for this zone alone. Collectively this is transformational for UKOG. Genuine LTH's are aware of this and no doubt will hold in the full knowledge of the tremendous upside to come in terms of the Share Price.
With the volume of tankers leaving site since June commerciality at Horse Hill will be soon be declared on zone K3. Two zones declared commercial leaving K4 to complete and report on. Yanis, I agree with your comments concerning the sentiment surrounding this share considering that since July 2018 the SP has drifted downwards despite all the positive newsflow and tanker sightings. Compare this to approximately one year earlier ( June 2017 )at Broadford Bridge when the SP rose from 1p to a high of 11p within a matter of weeks and then settled in the mid 7's until October. The flow tests at BB did not commence until September 2017. There were no tanker sightings reported. The huge rise happened whilst the well was being drilled and all the positivity surrounding UKOG at the time. Fast forward to the present where results are proven and will continue to improve yet the market at present has not responded. Like many geniune LTH's i truly hope the Share Price starts to head north and stays there.
Considering that since the beginning of the EWT we have now seen 80 + tankers leave site and not forgetting what's been missed leaving site and the Portland zone declared commercial. Zone K3 results will no doubt be very very impressive and K4 will prove transformational for UKOG. We are also fully funded until the end of 2019 and not forgetting our soon to be published reserves will number Billions of barrels of oil located onshore in the UK.
Easy to be critical of the merits of Adrian's photo's. Without his input a lot of genuine LTH's would be in the dark as to the fantastic progress being made onsite. We now know that to date there have been 70 + tankers full of oil that have left site. K3 will soon be declared commercial and the SP will start to rerate. And then the real Money Shot in K4 to follow.
Approximately 15000 Barrels of crude( possibly more). have left site since the EWT commenced on the 27th June. The 150 days are up on the 24th November. K3/K4 results are imminent.The Share Price which has been held back no end will be a minimum of 6-8p by Christmas. A big thank you to Adrian and Tony for their time and effort on site and DHC/Heid for keeping the faith on this board.
Conrad, The 150 day EWT test commenced on 27th June 2018. Should be complete circa 24th November. K3 and K4 results to be reported. Expecting excellent results on both bearing in mind that over 50 tankers full of crude have left site to date. The Share Price will start to reflect this shortly. Long overdue rerate imminent.
Drewky, I am fortunate that I bought in at the right time last year so no hurry to sell. My dissapointment is that since the back end of last year the SP has stagnated and nothing appears to be able to move it. We've had plenty of very positive newsflow and still we struggle to breach the 4p mark.
Rag, The revenue may be increasing as is our profitability and all the business fundsmentals. That is certainly not up for debate. However, none of this is being reflected in our SP which is unfortunately drifting in the wrong direction. I'm very keen to see a change in our fortunes and hope that Matt can provide the ' Money Shot ' as the yanks would say.
If an additional 500 Million shares are being admitted for trading on 21st June at a price of 0.9p. Common sense tells you that we will surely see a slight retrace before the inevitable rise. I was invested here for 2 years prior to selling up in January. I have invested again for the long term as i think UKOG has many positive fundamentals in place.
Lets hope he is doing something to stop this drifting any further. It's been quiet/dead here for 5 weeks in which time the SP has drifted down from over 5p. We could have been a little bit more proactive and issued news on drills/permits a lot sooner. My concern is that when news does arrive what impact will it have on the SP. Apologies for appearing negative but not a great deal to shout about at the moment.
Sapphire, This will rise on antipication alone. You will have missed the boat if as you say you will wait and invest later. The liquidity in this share will drive this up in a similar fashion to what we saw exactly one year ago.