Member Info for Gerry65

Newboy - i have to correct you - HH didn't flow at 1680 bopd, that was an extrapolation figure. Throughout the whole of the 2016 EWT a total of 1940 barrels of oil got to market, that's an average of 47 barrels a day, for the whole of the EWT. ( Based on very short testing periods ) Don't forget based on today's ownership structure of HH, UKOG has roughly a 33% stake, that would equate to say just over 15 barrels a day to UKOG, based on the previous testing. Stats eh - its easy to play with them. GLA.

Baits - got to come back to your post at 10.25 this morning, did you genuinely not understand the details and structure, of the YA loan !! I recall when I raised concerns at the early draw down of the extra �2.5M back in Dec, you gave me a hard time, but your post earlier today demonstrates you thought there was still money to come from YA to UKOG !!! In truth you often gave me a hard time, in collusion with Marky and Migymom at that time -Lets hope no one took any notice of your posts during Oct - Feb. Good grief man !! Hey ho all is forgiven - all the best - Gerry

Additional funding was always on the cards, the warning signs were there for all to see, to be brutally honest. How much is required this time round - i don't know but - Cash is king ! ( These small oilers burn cash fast - they can only continue as long as they have sufficient funds / capital / cashflow). Several of us on here tried to get the message across, but were continually shot down by the disciples. I must have posted dozens of times - urging pi's to wait and see the Interims out 30th June to see how much cash was in the coffers, at March end. I genuinely feel for pi's facing further dilution, and hope over the long term they can find their break even positions. Perhaps, a couple takeaways from today's RNS : When companies on aim state they are fully funded till such and such a time - check out previous statements made, and see when they later actually raised cash. Not all posters with a glass half full view are trolls, some have genuine concerns. Those in the UKOG bubble sometimes see things with rose tinted glasses. Lets see how things unfold. GLA

Yanis - it certainly looks that way.

Like many on here we expected the EWT to be well underway by now. I can accept that the oga need to complete due diligence and that involves, more work for that body, due to the comp!exity of the consortium. I suspect the first r n s yesterday was issued to deflect from the delays. Not sure the link to the full report in the second r n s was a good move, in hindsight. Certainly not helped sentiment. SS must know that pi's are genuinely frustrated, by lack of info. He must also surely have some understanding of why it's taking so long. If he genuinely doesn't then even a one line r n s stating that their are no known problems in securing the approval and that it's just a matter of time would ease concerns on here. Gla

Clarry - you have mentioned cash in bank - you know that will raise hackles on here. Not what many on here want to hear. Expect some abuse from sincero ( Walter Mitty ). It's only 23 days to the interims ( cash in bank at march end will be published ). If the cash burn has been high, then SS has a problem. I fully expected EWT at HH to start in may giving him a month or so to allow sentiment to lift off the bottom. Which would have given him some flexibility for early re finance if needed. I genuinely don't know what the cash position will look like but have my suspisions. Can't see YA wanting a placing whilst they have debt to recover. But with the outcome at BB will they want to roll the dice again and provide a top up ? To me it won't be a bad thing for everyone if the financials come out before the EWT commences. Cash is king. SS must understand present lack of sentiment he must expect that many pi's will sell out on spikes this time round. He needs some fantastic early success at HH, this summer if he is to raise the funds he has said will be needed down the line. GLA.

Fully agree, red herring. Was floated on the advan board a while back - consensus was that it was pie in the sky. Was it re floated on here by magic marky ? See he posted at 00.55 ! A lot of people are heavily down having listened to his blue sky thinking ! Enough said.

tkr234 - don't get your post sorry buddy - but i am happy to chat at anytime with you and debate, matters as EWT at Progresses. GLA.

sincero - you don't have to read my posts - feel free to filter me if it helps.

Moniman - i fully respect your investment strategy, as you say its your money, and your personal risk, and you should only get in when you personaly feel its the right time. I was very lucky here - my buy in was just over �1.00 - March 2016, then i was fortunate to top slice out in Aug 2016 and recover my initial investment in full, leaving the remainder of my shares in here at nil cos,t on a free ride. One of my more fortunate buys, ( i have others that have been less successful lol ). I do look at the length, of the present bull run - and i feel one or two positions in my portfolio are looking a bit toppy, i suspect there will be more overall market volatility as we move through 2018 and onwards, no one wants to get in at the top, maybe there will be geo political events that will, allow you to find some of your entry points.Good luck with your future decisions. GLA.

Boyzee - as we and many other have said - its Totally down to HH, it has to prove up, don't see a way forward without it. It never ceases to amaze me how simplistically people look at this one - maybe many were just in for a punt - without research. Those that buy in during the summer, during EWT at HH, before any data is provided by UKOG through RNS - do so knowing that things can go wrong - BB. I have always maintained - wait for facts - and keep an eye on the pennies. Cash is king. 24 days to cash burn position - that's one piece of info a thoughtful investor should be considering. Why do you think we have this info at the present time, the cynical, may suggest that, it deflects from the delays in receiving the OGA, and commencement of works at HH, and gives YA a chance to pass on more IOU's to PI's. Rusty - you are welcome to try and discover any mistakes in my posts - in fact you already have in your post ( May 29th ) - but from reading that reply you seemed merely to say exactly the same as I had already posted on the 4 phases of EWT at HH. so you lost me on that one, lol. I only post facts - and look forward to our up and coming debates. BTW - it seems likely that Avington will be mothballed for a little while,do you know how much the 5% purchase and ongoing operational losses there have cost UKOG pi's? For the record i will say again my position has not changed from when i first debated this one with Marky and co back in Oct. At that time my posts did not sit well with certain posters,but hey ho. At that time when the sp was sitting at circa 5.4p someone suggested i had an agenda, and that i was looking for a sub 2p buy in. My reply at that time was - if the sp fell to sub 2p it would be for very good reasons and that would be a red light to me. I still don't have a holding here ! Now people are suggesting those with a glass half full view are looking to get in at sub 1 - that's not the case with me, sub 1p would be the result of further bad news imv, and not a buying opportunity. I can understand how those in the UKOG bubble can be frustrated with my posts, however someone once said its never too late to buy into an aim share, but its often way too early! I'll buy in based on facts / finances - timing is everything to me. GLA.

Boyzee - you always read me correctly lol Exactly why i posted on Avington, when it was mentioned that there was a temporary shut down earlier this year i wondered what was happening and when more info would be forthcoming from UKOG. It took the XODUS report to get to the bottom of things. I'll save posting on Horndean, BB, and HH from the report, for the up coming days, maybe give people on here, including me, time the read the document in detail. GLA.

The XODUS report now explains what has happened at Avington, i mention this as together with Horndean it was one of the two producing fields in the UKOG portfolio. Regrettably the production during the last tax year was at a loss: Production income - �207K Production costs - �254K So what has happened at Avington ? Igas are the operators / UKOG haav a 5% stake. Aug 2007 initial production was 500 bopd - simialr to the EWT. By 2009 this had fallen to 100 bopd. UKOG have reported to Xodus that the field is now shut in temporarily as the low oil production rate and costs associated with the high water cut have resulted in the field being uneconomic to produce at the present OPEX cost and oil price. The operator calculated that the 2017 cost per barrel at Avington was �57, the estimated cost going forward, through 2018, is �80 per barrel. This increase is largely related to reduced production rather than an increase in costs. The principle component of the Avington operating costs are related to the disposal of produced water, water cut is currently 90%. Costs for water disposal at Avington are low compared to other recent cost estimates seen by Xodus, therefore, there would appear to be limited scope for further reductions of the variable costs incurred without reduction in water cut. An increase in oil price to over �90 per barrel would be required to give confidence that economic production could be restarted. The Avington field is currently temporarily shut in due to the low oil production rate and costs associated with the high water cut. Estimates of recoverable volume that were previous classed as Reserves are now Contingent Resource until economic recovery can be sustained. The decline in production is very low and this is reflected in the length of the production profiles forecast; estimates of mid case recoverable volumes are consistent with previous evaluations. I raise the outcome at Avington to remind everyone, about the effects that depletion rates and water cut, can have on a field. GLA.

I was not surprised by the initial reaction early doors this morning to the first RNS, out came the bulls, the disciples, the bull sky thinkers, those in the UKOG bubble - we even had praise for SS and xmas songs ! I'm off to the gym i thought lol A look in here this afternoon and the balance is back with many more reasoned posts including those i have listed below: JohnnyB.Goode - posts - 13.48 / 12.29 / 11.40 / 10.47 / 10.41 Penguins - post 10.14 Pijoe1212 - post 10.30 there have been many other useful posts in addition to the above. We all have differing views here - and those on either side of the debate are unlikely, to change entrenched views. Turning back to the early RNS - we now have 85,000 barrels Net UKOG P50 Reserves - not National significance i fear ! Don't get me wrong the RNS provides info and people need info on which to base their investing decisions. The situation for UKOG is still the same - EWT at HH is the key - its a binary play, following the probs at BB. Can UKOG prove up those limited 2016 flow tests, 7 months to find out. Then onto phase 2/3 of the EWT. Only 24 days to findpout how much money is in the coffers and the cash burn though - 30th June for the march interims. If HH takes much longer to kick off this time round we could be at Jan 2019 before phase one of the testing is complete. So to get from the present state of affair , to the hoped for state of affairs,( commercial oil ) UKOG will need time and truck loads of money. Turning to the second RNS, the link to the actual full 112 page OXDUS 2018 CPR, lot to get ones teeth into there! had a brief glance, much to digest. Great info. I expect many questions will be asked and many questions raised from this report. GLA.

moniman - tell me you didn't miss another opportunity, to get into STOB. That's three times now in the last six months when you could have got in at a relatively low entry point Don't forgot whilst the squabble goes on at bod level, the workers are working out there in the field, the middle managers and junior managers are doing their thing too. The company continues and we have those lovely divs to look forward to. I know you set your entry price at sub �2.00, but each quarter you wait you miss out on the divs. i have no more idea as to where the sp will go in the medium term than most on here, but it just looks like an opportunity lost for you at the moment.There again maybe your strategy will turn out right for you, one never knows. BTW - its not looking like you will get your entry price of �1.65 on VOD in the short term either, unless of course there is any major overall market instability, which is as always a possibility with geo / political tensions etc GLA

Sincero - tried or trying - thx for the insult buddy - will take it as another badge of honour ! Try your hardest be polite sonny - sure you can do it. Not sure what you are going on about to be honest. Don't worry trying to explain to me what going round and round in your head - its only important to you matey. If you have any info, thoughts, facts or news on UKOG then by all means please do not hesitate, to let everyone on here know. we will await your pearls of wisdom with bated breath. GLA.

sincero ( Walter Mitty ) i am genuinely not worried as to whether you are up or down on ukog. its your business. Its you that bangs on about a �60K profit on UKOG ( me thinks you doth protest too much lol ) though it does show a lack of sensitivity, to those that are heavily under water here. I see your likeness on most aim small oilers ( look at me !! lol ). If it makes you feel better about yourself feel free to carry on. I would rather debate, matters, with fair minded individuals - even if they have a different view point to me, all you do is insulst - which is why people come back at you. You need to post info to support your position here, The only Fact you post is that you are �60K up.Have you anything else to add to the debate. zzzzzzzzzzz -thought not - hey ho lol Take a chill pill, you'll get a spike in the summer, to get to your Dec break even price i am sure, then perhaps you can relax a bit more, too much stress is not good for you buddy. GLA.

Zoom - news on oga has got to be imminent, today, maybe - or early next week, surely.

Orson - i'm not so sure that this share gets shorted that much. though i don't know for sure. i know several of the blue sky disciples, believe that - de rampers as they see them are shorting the share, but imv that's just their insecurities showing through. Maybe some that post voicing their concerns,on here, want a lower buy in price, but i its been range bound for a couple months now - its unlikely to fall a great deal lower imv. So i would suggest, many people like myself have yet to be converted by the disciples - who often try to protect their positions by resorting to jibes, insults and rude comments. That results in further comebacks and it goes round in circles lol. This share is down due to a lack of sentiment, from pi's and from the wider market As a whole at the moment. Take a look back at the r n s over the last 8 months,you'll be hard pressed to find much to be positive about, it to be fair.. Bring on the OGA, today maybe - pretty please ! GLA

Sincero ( Walter Mitty ) - silly billy - i replied to you at 12.10, first thing i did when i got back from the gym. Keep up buddy lol !! Is it all becoming too much for you, - maybe take a chill pill !! BTW - we all buy shares to make money. i accept find myself in the fortunate and very lucky position, of being able to retire 4 years ago, on a reasonable early pension,which i took at 55. ( I'd trade a lot of my savings for 20 / 30 years of life back though ). I don't need any get too involved in casino gambling, to any great extent, for me its generally solid income and growth shares. I don't need to take excessive risks, and i am not looking for a short cuts to financial success, in my opinion more often than not those who take short cuts find themselves lost and confused and very angry. i mentioned earlier i trade a few aim shares but only between 5 - 10% of my overall portfolio, but to me timing is key and cash flow is vital, cash is king ! ( I only invest profits, from previous trades - and money that i can afford to lose ). I recall a poster once saying its never too late to buy a aim share - but its often too early !! I would suspect you will get back to your break even price on your 3p Dec trade,sometime this summer, however if you had held off instead of getting carried away you could have bought double the number of those ukog shares at today's prices. ( Hindsight i know,but no use crying over spilt milk ). Also with your money tied up for over 5 months now - just consider all those other trading opportunities, you have missed out on in the wider market. Oh i forgot - you present yourself as the genius on this share - but looking at your posting - no other posts or comments on any other shares ??!! ?? Why is that, do you have any other holdings ? I guess not as i am sure i would have seen your usual frustrated postings elsewhere on other boards. No need to accept - everyone is differently - everyone trades differently. I feel you are in a bit of a bubble here on UKOG, you don't seem to have grasped that sentiment is very low at the moment, following the problems at BB and the continued dilution form YA. Lets hope the OGA hits soon and gets things moving on here again, once volumes increase it will give people the opportunity, to decide whether to stick twist or sell. Cheers buddy - Gerry