Member Info for Insidious

May be poor but less of the old Heidi....

Oh know I wanted to top up on pay day this Friday...

Not to mention the £80m mcap

should of topped up...

Baron Oil (AIM: BOIL) announces that the following information has been released by the Operator of Licence P1918, Corallian Exploration Limited ("Corallian"):

"The Colter well (98/11a-6) has been drilled as a vertical well with the Ensco-72 jack-up rig and has reached a Total Depth of 1,870m MD in the Sherwood Sandstone. The well is an appraisal of the 98/11-3 well, drilled in 1986 by British Gas, within the Colter Prospect.

"The 98/11a-6 well unexpectedly remained on the southern side of the Colter Prospect bounding fault but encountered oil and gas shows over a 9.4m interval at the top of the Sherwood Sandstone reservoir. A petrophysical evaluation of the logging while drilling data has calculated a net pay of 3m. Similar indications of oil and gas were encountered in the 98/11-1 well, drilled in 1983 by British Gas, within the Colter South fault terrace. Provisional analysis of the new data indicates that the two wells may a share a common oil-water-contact, having both intersected the down-dip margin of the Colter South Prospect. Corallian's most recent assessment of the Colter South Prospect prior to drilling the 98/11a-6 well had estimated a mean recoverable volume of 15 mmbbls. Further work will be required to refine this assessment with the new well data.

"The joint venture has commenced preparations to side-track the 98/11a-6 well. The side-track will be drilled directionally to a Sherwood Sandstone target within the Colter Prospect on the northern side of the bounding fault, and will take approximately 2 weeks to complete.

"It is encouraging that the well has confirmed a discovery in the Colter South Prospect. More work will be required to determine the resource potential within the structure and we look forward to the results of the side-track to evaluate the Colter Prospect."



Malcolm Butler, Chairman and CEO of Baron, commented:

"The initial well bore has given valuable information on the potential of the Colter South Prospect, which will be integrated into our existing analysis of the structure in this area. We are now moving forward with the side-track into the Sherwood Sandstone reservoir in our main Colter Prospect target and look forward to updating shareholders in due course. Baron Oil has an 8% interest in Colter and Colter South."

Any chance we can move on from Coil and focus on what is next for UJO...

Really UKOG keep striding forward, the like of UJO and AAOG and AMGS keep disappointing. UKOG all the way to the bank.

Pumped and dumped his shares

What a drop

Rns out

My buy showing as a sell.

13:30:05 0.1300 900,000 Sell

Can you keep topping up so I can get a low price...

May be the French may return one day...

ngus Energy is pleased to announce that the Company has placed, subject to admission to trading on AIM, 55,000,000 new Ordinary Shares in the Company with existing, new and institutional shareholders (the "Placing Shares") at a price of 4 pence per share to raise gross proceeds of £2,200,000 (the "Placing").

The Placing monies will be used by the Company to pay down £1,500,000 of the YA II PN Ltd and Riverfort Global Opportunities PCC Limited loan facility referred to in the Company's announcements of 14 February 2019 and 9 January 2019, for the work programmes at Balcombe and Brockham as detailed in recent announcements and for general working capital purposes.

George Lucan, Managing Director said: "The Board has considered the capital structure of the Company as being, in the short term, most ideally composed of ordinary equity and we are delighted to have obtained the opportunity, within this very tight timetable, to refinance our facilities accordingly. We recognise that the placing price is significantly below historic share price levels and, whilst we did consider forms of pre-emptive issues to Shareholders which unfortunately haven't been possible within the timeframe, believe, having considered all factors, that this best positions the Company to exploit the value of our asset base as we proceed with our well-defined strategy. I look forward to updating shareholders on this and the progress of our forthcoming Board appointments shortly."

Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective on or around 21 February 2019. The Placing Shares will rank pari passu with the existing ordinary shares.

Following the issue of the Placing Shares, the Company will have 458,944,208 Ordinary Shares in issue, each share carrying the right to one vote. The Company does not hold any Ordinary Shares in treasury. The above figure of 458,944,208 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

08:44:51 0.1160 2,590,513 O 0.1150 0.1200 Sell
08:32:58 0.1155 1,544,401 O 0.1100 0.1250 Sell
08:26:06 0.1200 1,000,000 O 0.1200 0.1250 Sell
08:25:56 0.1200 1,000,000 O 0.1200 0.1250 Sell
08:17:37 0.1201 1,000,000 O 0.1200 0.1250 Sell
08:00:35 0.1210 150,000 O 0.1200 0.1250 Sell

The total consideration of £2,100,000, with an effective date of 13 February 2019

Why not use the money from the EWT?

The Strategic Review also detailed that the HH-2 Portland production target of 720-1,080 barrels of oil per day ("bopd") from the first horizontal well, HH-2, which has been externally verified as a realistic and viable expectation by Xodus Group Ltd ("Xodus"), aims to position Horse Hill as the Weald Basin's leading oil producing field. Subsequent planned horizontal wells in 2020 are designed to boost gross production to over 2,000 bopd, which would place UKOG within the current top three oil producing companies in the UK onshore sector.

Permits to cover up to 20 years of permanent production are expected to be in place by autumn 2019.

Stephen Sanderson, UKOG's Chief Executive, commented:



"We are delighted to acquire this further share of our Horse Hill flagship oil production project. The transaction now firmly establishes UKOG as the majority interest holder in the Horse Hill Portland and Kimmeridge oil field, together with the highly prospective surrounding licence acreage. Horse Hill is UKOG's stated 2019 focus and we are on-track to deliver continuous test-derived oil production until the start of long-term stable oil production by year end. The plan is designed to make Horse Hill the Weald Basin's number one oil producing field in 2019 and to move UKOG upwards into the top tier of UK onshore oil producing companies shortly afterwards.



We wish Doriemus well in their planned new ventures in Western Australia."

UK Oil & Gas PLC (London AIM: UKOG), the largest onshore licence acreage holder in the Weald Basin, is pleased to announce that it has entered into a binding heads of terms with Doriemus Plc ("Doriemus") to acquire a further 6% shareholding in the Company's subsidiary, Horse Hill Developments Limited ("HHDL"), the operator and 65% direct interest holder in the Horse Hill oil field and the surrounding geologically prospective PEDL137 and PEDL246 licences. Upon completion, the Company will hold a 77.9% direct interest in HHDL and a majority 50.635% interest in the Horse Hill oil field and licences.



As previously reported in UKOG's Strategic Review of 23 January 2019, the Company's prime 2019 target is to move Horse Hill's ongoing test-based oil production into permanent production by the end of the year. Two new horizontal wells, HH-2 Portland and HH-1z Kimmeridge, are planned to start in spring 2019. Once drilled, both wells will be put on long term production test until planning consent for permanent production is granted. Planning consent and environmental permits for HH-2 and HH-1z are in place and UKOG is currently fully funded for both wells.



The Strategic Review also detailed that the HH-2 Portland production target of 720-1,080 barrels of oil per day ("bopd") from the first horizontal well, HH-2, which has been externally verified as a realistic and viable expectation by Xodus Group Ltd ("Xodus"), aims to position Horse Hill as the Weald Basin's leading oil producing field. Subsequent planned horizontal wells in 2020 are designed to boost gross production to over 2,000 bopd, which would place UKOG within the current top three oil producing companies in the UK onshore sector.



Permits to cover up to 20 years of permanent production are expected to be in place by autumn 2019.



Transaction Summary



The total consideration of £2,100,000, with an effective date of 13 February 2019, will be satisfied through the issue of 129,629,630 new ordinary shares in UKOG ("Consideration Shares"). The Consideration Shares are calculated based upon the 5-day volume weighted average price to market close on Friday 8 February 2019 of 1.62 pence. HHDL recorded a loss of approximately £501,551 in its accounts for the year ended December 2017.



Completion of this acquisition will be announced in due course.



Stephen Sanderson, UKOG's Chief Executive, commented:



"We are delighted to acquire this further share of our Horse Hill flagship oil production project. The transaction now firmly establishes UKOG as the majority interest holder in the Horse Hill Portland and Kimmeridge oil field, together with the highly prospective surrounding licence acreage. Horse Hill is UKOG's stated 2019 focus and we are on-track to deliver continuous test-derived oil production until the start of long-term stable oil production by year end. The plan is designed to make Horse Hill the Weald Basin's number one oil producing fie

0.1280 on the ask...