Member Info for Ibug

They have been seeking since July. How well has that gone?

Teachers pet or is it class monitor?
I'll post what I want. I can't help it if you can't see the funny side of this HOS. Do you really think I care what you or others think?

ocelot
Only saying what I see. Nice to see some still don't understand sarcasm. Perhaps you should go to Specsavers. It ain't over yet imo. Still more to come.

I wonder if IG Markets have taken a short out?

ocelot
You missed the point. I'm talking about ALBA commissioning a study on HH and releasing the results which may tell a different story to the one that UKOG have been telling us.
Monday was all about the placing which was a totally different scenario.

"Union Jack shares fall on Wressle estimates

Shares in Union Jack Oil fell more than 20% on the publication of an assessment of the Wressle oil field in North Lincolnshire this morning."

And many wonder why UKOG do not give an update on HH. Just think what would happen if the truth really got out.

Full story here:

https://drillordrop.com/2022/09/13/union-jack-shares-fall-on-wressle-estimates/

vernonya
The Portland water is obviously confirmed. The jury is out on the two Kimmeridge layers.
Water was mentioned in 2 RNS;s during the testing period.

"Upper Portland sandstone and two Kimmeridge limestones beneath the Portland.
Lower Kimmeridge limestone interval at a depth of approximately 900 metres below ground level.
Flow commenced at around 10.00am GMT yesterday at an initial instantaneous rate in excess of 700 barrels per day using a 1-inch choke, in an approximate mix of 50:50 oil to water. The well was then choked back to 32/64 inches resulting in a steady early oil rate in excess of 463 barrels of oil per day over a further 7.3-hour period, in an approximate mix of over 99% oil and less than 1% water."

and

"Both Nutech's and in-house petrophysical analyses demonstrated that a conventional oil accumulation lay within the Upper Portland sandstone of the HH-1 well. Xodus calculated an estimated P50 OIP of 21 million barrels for the accumulation. Electric log analysis showed that the well had circa 100 feet of gross pay with water saturations often exceeding 50%."

Make of that what you will.

A very smart move by IG Markets Limited. They only buy enough shares to break the 3% threshold and as soon as the placing shares are admitted to trading on the 16th they drop to 2.9% and don't have to declare when they sell.
I wonder how many times that has been done in the past?

wiz
No because I was only talking about June onwards.

ocelot
Considering the HH-1 works in July and August and lack of oil tankers leaving the site don't you think a reduction in the POO, one workover and pump replacement may be the the cause?
Jun 2022 $120.08 6.86%
Jul 2022 $108.92 -9.29%
https://www.livecharts.co.uk/MarketCharts/brent.php set the interval to 1h

"completing the Phase 2 Turkey seismic programme"
Doesn't sound like they are progressing at pace to me.

so it would be easier to say "the investment in HHDL has been impaired to £3.4 million."

london stock exchange this morning?

https://www.londonstockexchange.com/

ocelot
Are you saying UKOG should have a barn sale? There will only be a field in West Sussex and chicken for xmas left if they carry on like this.
Desperation really is setting in here.

"At 30 September 2021, the outstanding loan balances owed to HHDL’s shareholders were; Alba Mineral
Resources PLC (Alba) £2.52 million (2020: £2.52m), Doriemus PLC (Doremius) £0.57 million (2020: £0.57) and UK
Oil & Gas Plc £16.59 million (2020: £16.03m)."

Doesn't that say "owed to HHDL’s shareholders"?

They can't even finish off the injector well HH-2Z. What hope for 3 and 4? HHDL are still owed over £3m between ALBA and DOR.
Frangeskides sounds just like a PI hoping for the best. If you drill vertical wells from the pad do they all end up in the same place?

The 20 years in education really impressed me.

tradedesk
Why do you think IGas pulled out. They have Godley Bridge 1 and 2 next door and not one of them is in production even though they said they would produce from GB-2 if the price of gas rose.
Loxley is just a smaller extension of the formation. Just look at SS evidence at the appeal.

tradedesk
3 years out of date. IGas gave up the idea ages ago.

Here is the original.

https://drillordrop.com/2019/07/06/second-drilling-company-seeks-to-explore-for-oil-and-gas-surrey-village/

Clearly £1.25m didn't go as far as they thought it would. Not sure the £3m is going to last that long either. Same placing price so it hasn't improved imo.

https://www.google.com/finance/quote/UKOG:LON?hl=en&hl=en&window=6M

And yet some never see it coming.