Member Info for HH1AN2

Oil price going up...

Oh please tell .. is the work done crane in tankers in ...tell me tell me please

Simple.. doesn't necessarily mean quick....I'm sure you have been told that before

Notice no lights on ct tower...interesting...maybe work is done ?

You say you want to get out if there share but you talk it down ...what a twt

Def lost his signal

Scallwag ha ha ha ha ha ha your so funny

M bee you are a misery...always moaning..chill out man ... time will come

A lot of money been taken out of stocks. Will be coming back at some point, would expect a lot of stocks like this to benefit when it does

So there could have been tanker or 2 this morning but nobody was there

Did you see any tankers today ? Was you there this morning?

Maybe nothing new has happened.. maybe pressure test..if so there would be no tankers to be seen

Good news in the rns.. ahead of schedule..

Until we have some information we will have to wait like .....normal investors

If you are able to see pictures and video of up to date goings on you should be grateful that someone has bothered to do it .... if you've got shares elsewhere in the world you wouldn't have a clue as to what's happening until rns

Want good news all week .. its started with flare going and pump locked , probably means flowing and testing hh2.. swampy at the gate demonstrating they can bake a cake and dance, so maybe something imore than sugar n there cakes.they were there because they know what's happening ie loads of oil..expect there will be oil tankers , probably in the morning, maybe a crane to dismantle Halliburton equipment if hh2 is fixed , lorries to remove there equipment..loads going on, should be a good week .. straight forward , doesn't mean quick... its straight forward mowing the lawn, but takes me a couple of hours to do properly... we want it done properly

Rns are always relevant ....are you getting high eating cake at the horsehill gates...

Why not much better than some of post on here..great to here pump locked flare flaring

The Company (as announced on 2 December 2019) has also raised £2 million from a single institutional investor through a placing of 235,294,117 new Ordinary Shares in the capital of the Company.

Following the successful conclusion of those arrangements detailed above and as the Second Deferred Payment must be satisfied on or before 31 March 2020, it is now necessary to update the relevant authorities of the Company in order for the Company to satisfy its obligations under the Acquisition as existing authorities have been largely utilised.

Therefore, the Board seeks approval to increase its authority to allot and issue shares so that it can act swiftly to establish Production via an ability to fund the Company's Horse Hill FDP and to ensure that the Second Deferred Payment can be satisfied.

last June 2019 shut-in. A short routine intervention on HH-1 is now underway, which aims to further optimise and increase the Portland production capability of the well.

 

The HH-1 Kimmeridge interval will now remain shut in for a further long duration pressure build-up test. Plans to install a dual completion to enable HH-1 to produce from both the Portland and Kimmeridge oil pools are being formulated. A future Kimmeridge appraisal/production well is also planned, once full Portland Production and positive cash flow has been established from the field.

 

Progress of the above Horse Hill activities will be reported in due course.

 

UKOG holds a controlling 85.635% interest in the Horse Hill oil field and surrounding highly prospective PEDL137 and PEDL246 licences, which are operated by UKOG's subsidiary company, Horse Hill Developments Ltd.

 

PEDL234 Loxley-1 Portland Gas Field Appraisal Update (UKOG 100% interest)

 

The OGA has granted a two-year extension to the current PEDL234 Retention Area work programme, which now requires Loxley-1 to be drilled by 31 December 2021. However, as we understand that the
Loxley-1 planning application will be heard by Surrey County Council at the end of February, if approved, the Company still plans to commence drilling as per its original schedule in the winter of 2020/21.

General Meeting Notice

 

As announced by the Company on 11 September 2019, the Company completed the acquisition of Magellan Petroleum (UK) Investment Holdings Limited ("Magellan") from Tellurian Investments LLC for total consideration of £12 million in cash and shares in the Company (the "Acquisition"). Magellan (now known as UKOG (137/246) Ltd) holds a 35% direct interest in the Horse Hill oil field (the Company's flagship asset) and the surrounding highly prospective PEDL137 and PEDL246 licences.

The £12 million consideration is payable in three tranches:

·     An £8 million initial consideration which was satisfied through the payment of £5 million in cash and the issue of an aggregate total of 275,988,960 new Ordinary Shares in the Company. The number of consideration shares issued was calculated by the payment amount divided by the 10-day average mid-price of the Company's Ordinary Shares prior to the completion date;

·     A £3 million deferred payment which was satisfied through the issue of 331,125,828 new Ordinary Shares in the Company. The number of consideration shares issued was calculated by the payment amount divided by the 10-day average mid-price of the Company's Ordinary Shares prior to 31 December 2019; and

·     A £1 million second deferred payment ("Second Deferred Payment") which is to be satisfied on or before 31 March 2020, either in cash or through the issue of Ordinary Shares in the Company (the Directors intend on satisfying the Second Deferred Payment through the issue of Ordinary Shares in the Company).

The Company (as announced on 2 December 2019) has also r