Firering Strategic Minerals: From explorer to producer. Watch the video here.
133 trades so far is very very small volume but great to see it moving north (bouncing) on such small volume.
Maybe sellers and forward sellers are finished trashing the share price now and the MM's will let this move north through the tradition investment from rig arrival and drilling results expectations. Under that we went to 10p plus in 2017 and I see no reason why we cannot hit that again.
We have more share now but we also have so much more potential. Maybe twice the shares but four/five times the potential being this close to multiple horizontal wells.
If they use fishbones expect the number to double or triple again :-)
More sites and actual production wells now being planned, well over and above 2017.
We are now defined as an oil producer and not and explorer too.
UKOG evolving into the Weald big fish..... just ate it's biggest prey yet.... gobble gobble :-)
Bad Peguin, no more fish for you today.
You're the first I'm filtering cos you fill this board with miss truths and reams of rubbish.... I don't want to see it any more.
I laughed at your agenda at first but now you are boring!
Penguins do seem to hate oil companies!
Also pointed out by the Proactive article UKOG now owns a bigger share of the asset reserves. This is what is used by banks to offer them 'good' business loans in the future..... just need those final asset CPR's once they established the volumes connected to the production wells.
All looking extremely good. GLA
Exactly, Ocelot. The big fish is getting bigger and just ate it's biggest prey yet.
This is a good summary of the deal : https://www.proactiveinvestors.co.uk/companies/news/900271/uk-oil--gas-increases-its-stake-in-horse-hill-to-just-under-86-900271.html
Looking at the time lines and revenue required they might generate enough from oil sales not to need the loan agreement at all. But I guess they needed to have the access to funds in place to be able to sign the deal. So I see the loan agreement as a backstop and they will only draw down what they need if anything at all.
They've been working on this deal since the spring and maybe once it is all signed away and the rig is on site they will open the taps and try to generate maximum revenue. All going nicely to plan Mr Bond!
We still have regular tankers flow in and out of site every day.... now £8600 per tanker to UKOG :-)
Roughly two tankers per day for 60 days of flow gives UKOG £1m...... Keep 'em rolling Steve :-)
Yep, agreed.
The fundamentals are fantastic and the plan is all coming together.
We investors just need patience while to coming works through the delivery process.
I see a certain troll is ruffling his feathers as the rig gets closer. increasingly insulting positive happy investors.
The long posts fool no one.... it's just more garbage and more to ignore.
I used to laugh at her attempts but actually starting to feel sorry for the flightless bird... must be getting very desperate, poor thing. Someone throw pingu another fish.
Stay happy chaps.... we're onto someone big here... very big!!!
GLA
The banks will give them loans once they have the full CPR defining the assets.
We should get that on the Portland once the horizontal is drilled I guess.
It will define oil in place and how much is recoverable.
The value of the recoverable volume is the value of the asset and that's what the banks want to see to loan against.
Until then it's money market 'loan sharks' etc. Not a problem in this case though as Stephen explains.
GLA
The boss has been on the telly : https://youtu.be/dTfc4N6dlng
Sounds like the deal is not delaying the rig arrival and the drill. The plan to start the drill is the same as before the deal was announced, the back end of August.
And the deal will be wrapped up in the next two weeks.
UKOG is in full control and taking 86% of the revenue from here on.
£8,600 per tanker.... shouldn't take too long to repay the loan... which they might not even draw down anyway.
They might not need the loan if they keep the oil flowing :-)
Stephen very confident about the loan and knows it will be easily repaid by oil revenues if they choose to.
A very confident and reassuring presentation.... thanks boss :-)
My money is in safe hands :-)
Agreed Gold, just needs time and patience from our side.
They are building a mid cap oiler as stated two years ago and these are the usual business steps towards that.
It would be good for investor confidence and relations if they did a press call following these major announcemnts but that does not seem to be Stephens style. Other company directors are all about the talk.... SS is all about the action.
If this was poker, they are obviously going all in on the Horse Hill bet.
So they must be holding some pretty amazing cards, which they do not want to show until the deal is done.
I'm betting along with SS and holding my hand tight too.... I'll probaby throw a few more chips on the table as funds allow too :-)
GLA
Agreed, Wizard, Easy money from here.
As I say, just ignore the noisy trolls.... they hate being ignored.
The only down side to trolls is that they ignore us when the share price multibags because they are busy bashing another stocks for their amusement. So we cann't even rub their trollie faces in it. Could park the Ferrari outside their houses and rev the pants off it though... they'll hear that :-)
Amazingly the price has dipped into the 0.8s, just as it did in May 2017 before the rapid climb to 10p+
People were buying at 0.88p on the 19 May 2017 just like today.
A few weeks later they could sell at 10 times that!!!!
Similar scenario.... rig on it's way :-)
Mid-cap company around £5bln
That's quite a revaluation from here and a massive mark up from buying at todays price.
Trust your research, ignore the noisy trolls and hold tight for the prize :-)
Absolutely just buy more if you've done your research and know where this little oiler is heading... mid-cap oiler within 24 months.
Director buying would ofcourse give confidence though.....
So before the end of the month we'll see our money increasing.... all we need to know :-)
Oh and also it'll keep going north for a couple of months if 2016 is anything to go by :-)
The main point I feel people are missing is that the company told us this morning the RIG is on it's way after it's been cleaned after it's current short task.
It's coming and then they'll be getting on with the drilling campaign.
We know the market reacts positively to rigs on sites.....SP up up up..... buy now before the wider market gets in!!!
Stay curious Heid. No need to invest until you have proof :-)
Great as long as you are not a cat or want to maximise your investment :--)
Now it's showing 2.7% up.
How are we supposed to keep track of all this :-)
The number of trades and volume is nothing compared to the 2016 drilling campaign.
If only we had a drilling campaign about to start and could expect things to pick up significantly over the coming months!!!
DYOR and GLA
Yep, OP, Bendog, all stacking up nicely as summed up by Pboo.
Ignore the miss-information spinning the facts and figures for their own deramping agenda by the usual crew on here.
Keep an eye on the fundamentals and future potential and all is good... very good indeed. Just need to wait and ignore the noise for now. GLA
Note : once we have the rig the next two horizontals will be kicking out an expected circa 1000bopd each. That's a lot more cash and more importantly proves the concept of the formula UKOG are set to replicate across the Weald and IoW many times over. Simples :-)
No problem, Sting, we've all got to make our own choices for varying good reasons.
I've seen you are one of the fairer posters on here.
Good luck to you.
Hope you can get back in with more before the stampede.....
The wider market knows the arrival of the rig means an upward trajectory for the the share price. Exactly what has happened each time we've had a rig on site.
There's so many people watching this it'll be a race to grab shares once the rig arrives.
Traders will be closely watching while they try to make a quick buck elsewhere and jump in here as soon as they get confirmation of the rig arrival. They'll want as big a slice of the potential two months re-rating of the share as they can, as it did in 2016..... sub 1p to 10p+ :-)
Some may even post the odd negative slant on UKOG in an attempt to keep they share price low while they are out. They wouldn't do that would they? Play spot the trader and have fun guessing each poster's agenda. It's obvious to the experienced eye :-)
Cards on the table, I'm long and invested for the whole show...... beyond HH, BB, Dunsfold and even IoW and this little giant in the making evolves. Daily, weekly and even monthly price fluctuation don't concern me. Keep an eye on the fundamental and future potential...simples :-)
We know that rig is only a week or two away at the most and may even finish pulling pipes out of the hole up north this weekend!
GLA