Member Info for Ibug

ocelot
Does that mean you don't trust what UKOG are saying?

ocelot
Why post what ALBA said when UKOG have their own views?
"Impairment Review
The Directors have carried out an impairment review as at 30 September 2020. The Directors determined that the net present value of the HH-1 well was £4.78 million and therefore determined that HH-1 should be impaired by £9.35 million. The net present value utilised an internally generated depletion curve that was independently reviewed. Costs we based on current costs less any anticipated savings. A long-term Brent oil price of US$64/bbl. was used, with a discount rate of 8.9% being the weighted average costs of capital of Horse Hill Developments Ltd the holding company of HH-1. Based on current production at Horndean no impairment was deemed necessary."

wizard125
For the 2021 Annual Report unlikely.
For the Unaudited results for the six-month period ending 31 March 2022 possibly but that will depend on the amount of water produced and the price of Brent in the next 6 months.

Average price of Brent does vary considerably. Price is in $.

Aug 2019 59.25 -7.42 %
Sep 2019 62.33 5.20 %
Oct 2019 59.37 -4.75 %
Nov 2019 62.74 5.68 %
Dec 2019 65.85 4.96 %
Jan 2020 63.60 -3.42 %
Feb 2020 55.00 -13.52 %
Mar 2020 32.98 -40.04 %
Apr 2020 23.34 -29.23 %
May 2020 31.02 32.90 %
Jun 2020 39.93 28.72 %
Jul 2020 42.81 7.21 %
Aug 2020 44.26 3.39 %
Sep 2020 41.09 -7.16 %
Oct 2020 40.47 -1.51 %
Nov 2020 43.23 6.82 %
Dec 2020 49.87 15.36 %
Jan 2021 54.55 9.38 %
Feb 2021 61.96 13.58 %
Mar 2021 65.19 5.21 %
Apr 2021 64.77 -0.64 %
May 2021 68.04 5.05 %
Jun 2021 73.07 7.39 %
Jul 2021 74.39 1.81 %
Aug 2021 70.02 -5.87 %

https://twitter.com/OutSanderson/status/1441332925077721092

https://twitter.com/OutSanderson/status/1441332925077721092/photo/1
https://twitter.com/OutSanderson/status/1440605673759199240/photo/1

You have to wonder why someone would pay £9 to a Turk for that photo and then try and flog it on for a fiver when it shows nothing of the road or the site at Basur-3. The first photo was of a track miles from the site and obviously not fit for heavy traffic. DYOR on this subject.

He's probably getting confused with the Co-op.

Why are you posting links to yesterdays tankers?

https://twitter.com/davethedrill1/status/1441116878882017281
We don't need to spot you. We don't need to report you. It is more fun winding you up. Only a muppet makes spelling and grammatical errors like you. Your posts are so self evident.

I seem to remember a couple of 50m buys coming through a couple of weeks ago. I can't think of any news that would make me buy at those levels.

Basur - waiting for seismic
HH - waiting for approvals
Loxley - waiting for decision
IOW - waiting for planning meeting

None of those are going to rock the boat imo.

Skwizz
Have you ever considered that like me 75% of posters on here may have you on filter.

Egdon Resources reported that the proppant squeeze at its Wressle site near S****horpe had been “completed safely and successfully”.

Regulators regard the operation as small-scale fracking because it aims to fracture rocks to release larger volumes of oil or gas.

But proppant squeeze is not covered by the moratorium on fracking in England because it does not meet the legal definition of associated hydraulic fracturing.

Opponents on onshore oil and gas operations have campaigned against the proppant squeeze at Wressle since 2016. They described it as “fracking by stealth because it uses hydraulic fracturing techniques but avoids the controls in legislation.

Egdon said in a statement today it had injected 146 cubic metres of gelled fluid and 17.3 tonnes of ceramic proppant into the Ashover Grit formation at Wressle. This was about 15% of the 1,000m3 per stage used to define associated hydraulic fracturing in the Infrastructure Act.

The injection operations last a total of 90 minutes over a period of two days, the company added. Last year, Egdon told DrillOrDrop it planned to carry out a single proppant squeeze operation at Wressle.

The proppant squeeze needed a hydraulic fracturing plan (HFP), which outlines what an operator would do to minimise the risk of earth tremors. It also states how the process would be monitored and controlled.

The HFP must be approved independently by the Environment Agency and the Oil & Gas Authority. DrillOrDrop reported in May 2021 that consent had been granted for the Wressle proppant squeeze. See below for the document.
HTTps://investigatingbalcombeandcuadrilla.files.wordpress.com/2021/07/wressle-hydraulic-fracture-plan.pdf

The regulations that define the protected areas in which hydraulic fracturing is prohibited ensure that the process of hydraulic fracturing can only take place below 1200 metres in specified groundwater areas (source protection zones 1), National Parks, Areas of Outstanding Natural Beauty and World Heritage Sites.

And what depth are UKOG reservoirs at? 500-800m?

Sanderson Out
@OutSanderson
#UKOG

For iBug on LSE. The grid references in the original are those of Basur-3 well pad. The photo in the tweet is a couple hundred metres off the D370 (grid ref 37°57'13.1"N 41°48'22.6"E)

You want more pics, tune in tomorrow. :-)

Those co-ordinates are about 1.5km from the off ramp that vehicles take to Basur-3. Not sure why were are seeing a picture of a dirt track rather than the road to the site. Let's see what picture he puts up next.

Time for UK Oil & Gas and Lyin' Steve Sanderson to fess up on Turkey - twitter storm brewing
By TOM WINNIFRITH, THE SHERIFF OF AIM
The twitter account @OutSanderson which wants to remove the grossly overpaid Lyin' Steve Sanderson from his post as boss of UK Oil & Gas (UKOG) claims to have got hold of a series of photos from Basur in Turkey showing that on the ground nothing is happening. We were told after the most recent drilling failure that seismic would be shot in August before another sidetrack well is drilled. One tweet in this series is below. Perhaps Lyin' Steve might update investors with a formal RNS on how much of a Turkey his Basur operations are and what, if anything,is happening on the ground.

Should get a tanker today.

Year Cash Warrants

2015 £51k 25m lapsed
2016 £607k 35m
2017 £339k 25m
2018 £584k includes share based payments
2019 £766k includes share based payments
2020 £298k includes share based payments

Total £2.645m

CynderLad
The co-ords were not even on a track or on the pad which made me suspicious. Let's see if he reads the posts on here and posts a picture of the pad.

I hope you are not
Sanderson Out
@OutSanderson
#ukog
A contact at Siirt University (bee keeping believe it or not) has provided me with pictures of the site. 100 Lira per picture. I have 15 photos.

Basur-3 is completely dead, nothing there whatsoever.
If you want the pictures, DM me, I'll sell you them for £5 / picture.

If it was a picture of the site I may believe it but not a png of a dirt track. Anyone can go onto google earth and take a screenshot of a dirt track. It doesn't even have to be one from the van or from Turkey as all sorts of persons upload their own photos.

Twitter accounts held by aka Fool on the Hill aka Adrian Watkins aka FOTH etc.

https://twitter.com/davethedrill1
https://twitter.com/PorkyPeeBoo
https://twitter.com/TrollHu37466449
https://twitter.com/HarryTheHorse7
https://twitter.com/HorseHill710

He does have others. Has had more accounts deleted on here than on twitter.

Mirasol
You missed the ones from the poor tea boy which have been deleted. FOTH forgot it was only Wednesday today.

Just in case you can't find it. You might want to copy and paste it.

Freeasabird
@davethedrill1
#UKOG All those that conspired to stop freedom of speech and truth by silencing me .Hang your pathetic little heads in shame in the certain knowledge you have proved in conversation on LSE your cowardly actions show you are no match for me.