Planning18 Aug 2019 09:28
SS said each well would cost about £3.6m. UKOG share was £1.8m until they bought out Magellan. UKOG share for each well is now about £3.06m, an increase of £1.26m for each well (£8.4m in total).Until UKOG becomes an oil producer as defined by the OGA the SP is bound to fluctuate. It is knowing when to buy and sell in the development process that sorts out the men from the boys.If you are wondering why there is a 3 month delay between the completion of HH-1z and the next set of drilling just look at the time scale for 2014.16 June 2014 site construction has now commenced for the proposed 8,512 feet Horse Hill-1 well. The well is expected to spud in July 201403 September 2014UKOG (AIM: UKOG) is pleased to announce that drilling operations on the Horse Hill-1 well have now commenced.18 September 2014UK Oil & Gas PLC (AIM: UKOG) today confirms that drilling operations on the Horse Hill-1 well are continuing as planned with the 20-inch surface casing having been set successfully at 84 feet below ground level. Operations are continuing at the site and further news will be issued as appropriate.24 September 2014UK Oil & Gas PLC (AIM: UKOG) today confirms that drilling operations on the Horse Hill-1 well are continuing successfully and the Marriott 50 rig is now drilling ahead at a depth of 116 feet measured depth ("MD") today at 12:00 hours. Current rate of drill penetration is about 30 feet an hour.About 3 months which is what is in the Planning documents to lay the pad and set up 5 cellars.