Member Info for Ibug

ocelot
Are they the ones that are more likely to be taken in due to lack of due diligence and lack of experience in the O&G industry?

That probably is why IGas have not made a move. They have looked at the prices of gas in the next few years and decided if it is not worth bringing Godley Bridge on line it definitely wouldn't be worth farming in to Loxley as it hasn't even been drilled yet.

Oceanmec Energy International have got a new rig.

https://www.facebook.com/oceanmecenergy

That could explain replacing the pump. May and Junes figures will probably confirm it but we will have to wait another 3 months to find out if the replacement worked as I'm sure the company won't say anything.

ocelot
Exactly what relevance has "Dec and Jan 23" "theice" figures got to do with UKOG? Even the figures for 5 years time have no relevance as there is no chance in hell they will be producing gas.
Do you know how long it took for them to get to the production phase at Albury and IGas do know something about production of gas?

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

Reporting Period Month Name March 61 bopd

Oil Production Mass (tonnes) 253.00
Oil Production Volume (m3) 299.00
Oil Production volume (mb/d) 0.06
Oil production density (Kg/m3) 846.00

Associated gas production mass (tonnes) 9.03
Associated Gas Production Volume (MMscf/d) 0.01
Associated Gas Production Volume (ksm3) 8.00
Associated Gas Production density (kg/sm3) 1.07

Gas Flared - Volume (Ksm3) 8.00
Gas Flared - Density (Kg/sm3) 1.07
Gas Flared - Non Hydrocarbon (%) 4.50

Water production volume (ksm3) 167.00
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

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

So by the time they get into production, if they ever do, it could be far worse and go back under the 100? UKOG would miss out on making hay while the sun is shining.

So when they say 115 for the summer of 25 is that reasonable or not? What do they know? That is even worse than the last price I saw for 2026.

And 2030 is 4 years past 2026 so what's your point? Horses for courses. Loxley doesn't even have a CPR so that's a real negative to any farminee imo.

ocelot
Loxley will be way past 2026 though unless you know about some short cuts on the way. It is 7 weeks now and no signs of forward movement. We know how long they took at HH with the possible Finch delay before they did anything. Looks like they are taking the same approach with Loxley. I can't see them doing anything now until after all this appeal nonsense is resolved.

So what help is "theice" when they don't forecast as far forward as first gas would probably be? You only need to look at the POO over the last 2years to see how unreliable forecasts have been. It's the with buying shares. Who would have thought the SP here would drop UKOG into the bottom 20?

But they may not have even found out about the appeal by then. They have it dropping to 321.000 next year and under 200 in 2026. Sufficient to say I wouldn't trust any forward figures. Never seen any that actually forecast correctly.

ocelot
Any idea what it will be for 2030?

Possible location of Basur-4. Basur-3 is just below the river and Konakli further to the bottom of the screen.

Are they sat by the pool with a laptop?

https://earth.google.com/web/@37.92694562,41.77103038,859.02984296a,6419.79748047d,35y,7.10562785h,60t,0r/data=KAI

must be true. they posted it on here

https://www.lse.co.uk/news/UKOG/

Look on the bright side. If we were producing gas we would be making a fortune. If we were making over the 1300 bopd as predicted for HH-2 we would be making a bigger fortune. It Turkey had monetised as quickly as expected we may be making some more money.
So no matter what the soothsayers say we are stuck on under 60 bopd so it sucks.
PS Who identified the correct image for where the new possible location for Basur-4 is likely to be with no idea what the new seismic will show? It was 15 of 18.

To save them time "possible Basur-4 location" is just over there.

https://www.ukogplc.com/gal.php?gID=136

WW2 memories surfacing. Nurse.

Why not just call it a wasted summer holiday. They will look really stupid when they find out the oil, if they find any, is nowhere near where they looked.
After all, they did say "Further phase 2 seismic lines to the west will be required to confirm its size, prospective resource hydrocarbon volume, and to help define any future exploration well location. " You can't see underground from the surface.
Who could tell that there was oil at HH just looking at the surface geological expression . I have heard some BS in my time but UKOG just keep on giving.