Member Info for Ibug

WG818

This is the UKOG bb and if you had done your research you would know HH-2Z is the re-injector well and has been drilled.

WG818

https://planning.surreycc.gov.uk/Planning/Display/SCC%20Ref%202018/0152

"Retention and extension of an existing well site, HH1 and HH2 wells, and vehicular access to allow: the drilling of four new hydrocarbon wells and one water reinjection well; the construction of a process and storage area and tanker loading facility; new boundary fencing; well maintenance workovers and sidetrack drilling; and ancillary development enabling the production of hydrocarbons from six wells, for a period of 25 years."

Shame UKOG don't keep much of that "£1m". 66% goes in "other costs of sales". They get a better return from their Horndean investment of 10% rather than the 85% of HH.

Looks like YA have already started imo.

17-Apr-24 14:04:39 0.035 25,000,000 Unknown* 0.035 0.04 8,750

16-Apr-24 16:15:48 0.03474 48,098,304 Unknown* 0.035 0.04 16.71k

11-Apr-24 15:46:17 0.045 61,094,509 Unknown* 0.045 0.055 27.49k

11-Apr-24 15:43:53 0.045 25,000,000 Unknown* 0.045 0.05 11.25k

11-Apr-24 14:02:38 0.045 25,000,000 Unknown* 0.045 0.05 11.25k

10-Apr-24 16:24:16 0.045 30,000,000 Unknown* 0.045 0.055 13.50k

09-Apr-24 16:26:50 0.05 30,000,000 Unknown* 0.045 0.05 15.00k

The mugs will keep on buying though.

It would not surprise me if UKOG are using the same company that did all the work back in the early 2000's for Portland Gas. You just need to look at what UKOG have pushed out compared to what was published then. A bit too close for plagiarism for my liking. Could it be that UKOG are being taken for another ride?

"The reduction in the Loan's principal balance from that stated in the Company's 13th March 2024 RNS results from the conversion of the prior tranche of 206,965,282 ordinary shares by the Investors at an average price of approximately 0.054 pence per share."

Nice bit of late reporting by UKOG considering the SP has been down round the ankles for some time. Real shady company imo.

11th Apr 2023 7:05 am RNS Notice of Annual General Meeting

3 weeks notice should be given so UKOG well behind schedule.

"We were delighted that the North Sea Transition Authority ("NSTA") granted its formal consent for the conversion of Horse Hill-2z into a water reinjection well. With both the Environment Agency and NSTA permissions in hand, UKOG can now further expedite its plans for produced saline formation water reinjection at Horse Hill, removing the need for costly transportation and disposal of produced water at third-party sites. We estimate that the removal of these costs would add around £250,000 net earnings to the Company per year and reduce the field’s carbon footprint."

So why haven't UKOG started? The monitoring ground holes have been drilled. Only thing missing is the money. But is it worth spending over £250k to save around the same amount?

The weekly tanker. Did BKP lose the contract because the drivers were leaking info to Adrian?

Is that the Fool selling his 10m?

16-Apr-24 10:09:20 0.035 10,000,000 Unknown* 0.03 0.04 3,500

52 Week Low 0.035

52 Week Low Date 16-Apr-2024

52 Week Low 0.04

52 Week Low Date 16-Apr-2024

Someone is extracting the Michael!

15-Apr-24 12:47:10 0.042 78 Sell* 0.04 0.05 0.03 O

15-Apr-24 12:47:03 0.043 1,898 Sell* 0.04 0.05 0.81 O

15-Apr-24 12:18:03 0.044 227 Sell* 0.04 0.05 0.10

52 Week Low 0.045

52 Week Low Date 15-Apr-2024

"All Investor share transactions are subject to:

· an orderly market provision that provides that the maximum number of shares which can be traded by the Investors or any of their affiliates in any calendar month shall be such number of shares which is equal to twenty (20) per cent of the number of shares of the Company that have traded during the previous calendar month (as confirmed by the reports available by Bloomberg or their equivalent);

· neither the Investors nor any of their affiliates shall hold any net short position with respect to the equity of UKOG during the Loan term; and

· Investors will exercise any share voting rights in support of any resolutions proposed by the Company."

I'm not sure they will pay off the first £2m given the low trades other than the ones made by YA before the AGM when they will have to go cap in hand to shareholders for the right to issue more.

The only question is will they do a placing to pay for HH-2Z and funds to keep the lights on before the AGM.

Oh Adrian

You can only tell porkies can't you, never the truth. They can only drill another 4 wells and one of those will only give them less than 50% if the deal with PPP ever goes through which is highly unlikely.

Adrian

Just because I sometimes drive the other half's e-car I'm not as green as you are and we don't have swamps out here unlike the mud pit you love playing in at HH.

Adrian

You tag teaming again? SP not doing your 10m+ shares any good with worse to come. But then again you and Pboo have a lot in common.

Pboo

7,366 posts about O&G. Complete ignorance, serial loser and personal attacks on any one who says it as it is. You keep saying you are not invested here but we all know you have taken a big hit from 8p all the way down to what it is today. You really are a sore loser. Think it is you that needs to get a life.

Ocelot

Does that mean you are including all the O&G assts as non-core? The only problem being is the de-commissioning costs any buyer would have to pay when they realise they have been ripped off.