Member Info for Ibug

Mirasol
You really do live up to your name. Perhaps if you read the RNS less than a month ago you would know. Just because you have made bad financial decisions there is no need to subject the rest of us to your pent up angst. Put up or shut up FFS.

ocelot
Who in their right mind is going to entertain debt finance with UKOG for Loxley? If I can do research and get the low down I'm pretty sure the big boys have far bigger research facilities than I do.

SS is not Simple Simon says.

ocelot
"The past is of interest to corporate archivists but of very little interest to investors" I disagree. See what UKOG have previously written about Loxley.

0-80 in just a few months.

"2018 CPR

The well reported oil shows in the Upper and Middle Portland
zones and weak gas shows.
Previous CPRs for IGas, the operator of PEDL235, have calculated estimates of Contingent Resource of between 5 and 10 bcf net to IGas. There is no comment on the discovery extending into PEDL234 and maps are cut off at the licence boundary.

Corporate Presentation Nov 2018

Godley Bridge PEDL234
N. Sea Size Gas Discovery plus Underlying Kimmeridge Upside
•Portland gas appraisal project
•Kimmeridge oil/gas exploration
•Gross 56 bcf Portland gas in place (UKOG internal P50 estimate)
•Estimated recovery factor 60-80%"

You have to wonder why the big increase but this is what SS does. He is like a magician pulling yet another bunny out of the top hat. Investors should do their research not just go by the latest attempts to pull the punters in.

Perhaps SS should have added geothermal, solar panels and wind turbines (call them windmills) to his wish list for the site.

HITS
IQ=holdings?
They certainly haven't done their research on Loxley. Centre of field is under Dunsfold airfield. First well drilled there was called Alford-1 so I'm guessing they refer to it as Loxley so it would not be obvious to research Alford or Dunsfold for previous data. There is not a lot of it but it does make interesting reading.
Original COS was 24% and well was abandoned at stage 3.
The old trick of paying for an independent report should be read in conjunction with the official CPR.

IVIV
You need to keep your eye on the ball. Only 2 fronts? News could also go a number of ways.

UKOG - DDSPP purchase
HH - OGA and EA approvals.
Loxley - Decision
IOW - EA approval. Planning meeting.
Turkey - New licences. Seismic. Basur-3.

Was he Swiss?

IVIV
Inspecter (your spelling) decision in October imo.

Mirasol

You don't do sarcasm do you?

Have you ever looked at the AME facebook page and seen the number of photos taken in the snow?

Are you worried about avalanches?

Didn't even get off the ground 2nd time round. Just look at the SP's.
At least TH2 is consistent with his predictions. Always wrong.

1st meeting

TrollHunter2
Posted in: UKOG
Posts: 1,749
Price: 0.35
No Opinion
RE: Council29 Jun 2020 08:24
They tell you the decission at the end of the meeting this morning live.
UKOG will release an RNS shortly after.
The council officially post a notice a couple of days later once they stamped all the paperwork.
So SP in rocket mode this afternoon :-)

TrollHunter2
Posted in: UKOG
Posts: 1,749
Price: 0.37
No Opinion
RE: Waiting29 Jun 2020 12:50
huge number of people watching.....show army of investors interested in this result and waiting to pile in........do you buy now or wait for official news?????
GLA

2nd meeting

TrollHunter2
Posted in: UKOG
Posts: 1,749
Price: 0.195
No Opinion

Top ups27 Nov 2020 08:30
Very happy to be grabing more at this price :-)
Two big news events today and we could end the day close to or above 0.5p
This will move fast when news of 600th tanker and HH-1 pumping again AND Loxley planning.
Two step up possibly coming all in one day.
I appreciate some might want to wait for news and jump on the curve half way up...but I like the whole cake so I'm buying now at this reduced priced.
Why did some sell late yesterday when double positive news day is today.... that's what makes a market I guess :-)
GLA

TrollHunter2
Posted in: UKOG
Posts: 1,749
Price: 0.145
No Opinion

RNS - and why H2 202127 Nov 2020 15:58
They knew the biased council would vote it down. I expect all council members voting it down will now have their gas supplies cut according to their recommendation.
Since UKOG knew this was the likely outcome they already told us they plan to drill it H2 2021.... after their appeal has been granted. So actually the old folks have made no change to UKOG and it's shareholders. All plans remain the same and the prospects and assets are the same.
It might mean UKOG actually get compensation for the action of biased councillors now. So win win.

Back to Horse Hill and Turkey for now though.

GLA

TH2
I would hardly call October soon. When does it start snowing at Resan?

wizard
Did you actually read the EA application documents?
The HH-3 well is on the other side of the fault as well.

wizard
No one knows what is going to happen once they use HH-2Z as a water injector. It will take them a couple of months before they figure out what is going on. The injector site is on the other side of a fault from where HH-1 is producing from. imo if they don't bring water onto the site you will know the reservoirs are not connected or it is not financially viable. We will be at least 3 months behind with any news if UKOG stick to their PR plan.

wizard
The 2020 approved condition mirrored the 2018 planning application exactly when it came to HGV movements. (RE18_02667_CON Horse Hill Condition 08 (SUBMISSION)_Redacted)

The reduction in storage was to do with compliance with "...most recent review of legislation and a re-assessment of the sites storage inventory.....This, in turn, reduces the classification of the site from its previous status as a Top-tier COMAH Establishment to a Lower-tier COMAH Establishment reducing the regulatory burden on the Environmental Agency, 1 RE18/02667/CON: Retention and extension of an existing well site..."

wizard
As you well know it is the original transport plan from the SCC Ref 2018 0152 planning application so no change there. You really must do better and you are quite correct you are not a geologist.

roganjt
Look how well that went at Brockham. The only other onshore well that produced from the Portland and within spitting distance of HH.

Unfortunately the OGA have finally removed all the old production figures now that

https://ogauthority.maps.arcgis.com/apps/webappviewer/index.html?id=984eeea3b1664049b12c02a28478bdaa

is up and running. I downloaded all the data prior to 2017 for all UK onshore wells.
Here is the old list.

https://itportal.ogauthority.co.uk/pprs/full_production.htm
https://itportal.ogauthority.co.uk/pprs/report4.pdf
https://itportal.ogauthority.co.uk/pprs/report3.pdf
https://itportal.ogauthority.co.uk/pprs/report2.pdf
https://itportal.ogauthority.co.uk/pprs/report1.pdf
https://itportal.decc.gov.uk/web_files/recent_licences/oglicences.htm
https://itportal.decc.gov.uk/information/wells/pprs/Well_production_onshore_oil_fields/onshore_oil_fields_by_well/onshore_oil_fields_by_well.htm
https://itportal.decc.gov.uk/information/licence_reports/offshorebylicence.html
https://itportal.ogauthority.co.uk/web_files/relinqs/relinqs.htm

wizard
Do you really think I am going to share all my research. You only get what has been pushed out by UKOG and the OGA. The Portland and Kimmeridge figures have been well documented.

Yep. A more realistic figure would be 140 bopd as quoted by UKOG in previous documents. Why do you think they have cut the storage from 3500 bbls down to just over 1200? They certainly know what to expect but are not openly saying it. It is how they keep their jobs.

They would need over 800 tankers of treated water to replace the oil and water already removed to maintain any sort of flow rate.
I take it you have researched the costs involved including the running costs of replacing the fluids removed and the import of more water?
Added to that UKOG would be limited to 8 HGV movements a day.
Also, no account was taken of the 1230 bbls maximum storage capacity which curtials production at weekends and bank holidays.
You are quite correct. It will be big costly news. There is always bad news when the financially challenged only report one side of the story. Having looked back at the production from HH-1, including initial and EWT I cannot see the well ever producing more than 200 bopd even with water being reinjected.
Just look at Brockham and you will know why I say that.

The POO matters not an iota to "QUALIFIED INVESTORS" or "INVESTMENT PROFESSIONALS" when they are offered these terms imo.

"The Placing's issue price of 0.18 pence per share ("Placing Price"), represents approximately a 22% discount to the closing price of the Company's ordinary shares on 01 July 2021, the business day prior to the placing's close."