Member Info for Ibug

I very much doubt if they will get near £5m at the next placing. Will probably be closer to £4m. £2m of that is admin for a year and probably more given the work required on the Portland project unless they copy and paste the work already done by others.

Unfortunately UKOG have shown their hand. Never a good idea in a poker match. Perhaps they have finally worked out the full house is only ace high.

It is such a shame that UKOG do not have the same confidence in Loxley. Never a good sign when someone is trying to offload the "second biggest onshore gas field".

ocelot
But I earn far more than he does.

ocelot
I've met loads of "attractive" women in my time but I wouldn't marry them. I guess the majority of shareholders would disagree with you looking at the SP as it is them that sets the price.

ocelot
Are you trying to say that because the SP is so low Loxley has no potential? Because that is what it sounds like. Surely if Loxley had potential the SP would far higher?

wizard
What sort of answer is that. You really are clutching at straws.

Here are some real facts.

Read in 4 columns

Oil Production Mass (tonnes) Oil Production Volume (m3) Water production volume (ksm3) Reinjected produced water volume (m3)

56,592.90 69,142.00 1,310,729.10 1,310,729.00
53,670.70 65,572.00 1,451,679.60 1,451,680.00
53,594.40 65,479.00 1,602,193.90 1,602,194.00
50,621.60 61,847.00 1,533,694.90 1,533,695.00
47,556.00 58,101.00 1,554,959.00 1,554,959.00
45,387.40 55,452.00 1,346,711.70 1,346,712.00

Just goes to show that production has dropped in the last 6 years from 56,592.90 down to 45,387.40 despite injecting all the water they produced.

Those figures come from Wytch Farm and just go to show the results of reinjection. A drop of 11,206 tonnes or 225 bopd over 6 years.

Perhaps you can explain how your theory holds true.

wizard
And what fills those voids then? Scotch mist?

wizard
Every time they take oil out nothing goes back at the moment. When they start putting the water back in it only replaces the water they have taken out. You still get the void where the oil was. All they are doing is saving costs of water disposal.
They haven't even mentioned replacing the void left by the oil already produced.
All the talk of increased production is just talk. Not exactly difficult to work it out.

The only thing stopping drilling at HH is UKOG. Even the applications in the system have nothing to do with carrying on with KL-3, KL-4 and the injector well.

Talk about energy security all you want and then wake up and view the facts. It doesn't paint a pretty picture for you. Blame the politicians all you want but it is you that votes them in.
Big drop in monthly onshore oil production. Daily UK oil production falls to the lowest level for more than 30 years – despite energy crisis.
Production at Horse Hill, in Surrey, continued to fall in the rankings and in volume. The site, once described as the Gatwick Gusher, ranked fourth in April 2020 but now stands at 14. Production was down 4% from 260 tonnes in April 2022 to 249 tonnes in May 2022.

Full story here:
https://drillordrop.com/2022/08/31/latest-uk-onshore-oil-production-may-2022/

Simples. ANGS RNS written by SS by the looks of it. Doesn't actually give anything away about what the production will be. I wonder why?

Production figures for Loxley and the value it will bring to UKOG in the next 5 years.

Loxley production 2022 = 0
Loxley production 2023 = 0
Loxley production 2024 = 0
Loxley production 2025 = 0
Loxley production 2026 = 0

Good news for gas consumers.

Wholesale gas prices tumble as Europe prepares to intervene in energy markets.

European Commission says it is working ‘flat out’ on emergency intervention and on longer-term structural reform.

Full story;

https://www.theguardian.com/business/2022/aug/30/wholesale-gas-prices-tumble-as-europe-prepares-to-intervene-in-energy-markets

Shouldn't affect UKOG too much and any investor would probably take note

nomlungu
ells_valexpert obviously doesn't use "the city & professionals use barchart.com" site. He must use his own.

That must be the one that says

"Barchart Technical Opinion
STRONG SELL
The Barchart Technical Opinion rating is a 72% Sell with a Weakening short term outlook on maintaining the current direction."

SS would have got more for his bucks if he had bought earlier.

26-Aug-22 13:12:34 0.0852 1,173,708 Buy* 0.0825 0.0875 1,000.00
26-Aug-22 11:24:42 0.0852 1,173,708 Buy* 0.0825 0.0875 1,000.00

Reporting Period Month Name May 50.5bopd

Oil Production Mass (tonnes) 210.70
Oil Production Volume (m3) 249.00
Oil Production volume (mb/d) 0.05
Oil production density (Kg/m3) 846.00

Associated gas production mass (tonnes) 6.51
Associated Gas Production Volume (MMscf/d) 0.01
Associated Gas Production Volume (ksm3) 6.00
Associated Gas Production density (kg/sm3) 1.07

Gas Flared - Volume (Ksm3) 6.00
Gas Flared - Density (Kg/sm3) 1.07
Gas Flared - Non Hydrocarbon (%) 4.50

Water production volume (ksm3) 135.00
Water production volume (mb/d) 0.03

Reporting Period Month Name April 55 bopd

Oil Production Mass (tonnes) 220.00
Oil Production Volume (m3) 260.00
Oil Production volume (mb/d) 0.05
Oil production density (Kg/m3) 846.00

Associated gas production mass (tonnes) 7.27
Associated Gas Production Volume (MMscf/d) 0.01
Associated Gas Production Volume (ksm3) 7.00
Associated Gas Production density (kg/sm3) 1.07

Gas Flared - Volume (Ksm3) 7.00
Gas Flared - Density (Kg/sm3) 1.07
Gas Flared - Non Hydrocarbon (%) 4.50

Water production volume (ksm3) 141.00
Water production volume (mb/d) 0.03

Month bopd
May 21 100
Jun 21 95
Jul 21 92
Aug 21 82
Sep 21 45
Oct 21 63
Nov 21 60
Dec 21 62
Jan 22 60
Feb 22 59
Mar 22 61
Apr 22 55
May 22 50

Receipts for May $112.37x 50.5 x 31 = $175,995
Receipts for April $105.78 x 54.5 x 30 = $172,993
Receipts for March $115.59 x 61 x 31 = $218,581
Receipts for February $95.76 x 59 x 28 = $158,195
Receipts for January $85.53 x 60 x 31 = $159,086
Receipts for December $74.31 x 62 x 31 = $142,824

ocelot
I keep my own counsel and do not rely on tittle-tattle from the press no matter how highly you think of them. The same goes for quite a few posters on here who add nothing to the conversation. I works for me which is why I am where I am.

Under 60 bopd and no gas we have to live with at UKOG. No matter what some post it ain't going to get any better any time soon try as they might.

Christ. I wouldn't trust anything Baits posts or says. Typical OAP past his prime. You will notice that it is the energy companies that are the real doom merchants as they try to make hay while the sun shines. World oil production isn't as bad as some make out unless you can't get it. Personally I blame UKOG for their total lack of commitment to improve the situation in the UKOG. Nothing they do seems to work.

https://ycharts.com/indicators/world_crude_oil_production#:~:text=World%20Crude%20Oil%20Production%20is,6.18%25%20from%20one%20year%20ago.

And how many times have UKOG failed to submit a Planning Application that has been delayed because the Planning Officer has not deemed it fit?
It is not all one sided.
You only need to look at the attachment tab to see why there is a delay.

A typical recent example being;

https://planning.surreycc.gov.uk/Planning/Display/SCC%20Ref%202022/0052#