Member Info for kempey

I expect so and will happily take +25% tomorrow but doubt it with Solo still having a lot to get rid of. It will happen though ,probably next week. I wish I could work out how many they have left.

for the big sell to appear to justify the limited rise today.

Is it that they don't like Lenigas? Sanderson has a good track record in the oil industry and seems a reasonable, likeable and articulate guy not prone to extravagant claims. Perhaps they all live in the Weald.....many in the 'City' and in Journalism do and don't like the idea of disturbing their green and pleasant land. Perhaps they set out their stall 2/3 years ago and cant be seen to have possibly got it wrong! I don't know but they always seem to take a negative tack with UKOG but not other oil companies especially the larger ones with more sway!

"Surrey’s would-be oil drillers claim that crude flows could gush from the Home Counties at triple the expected rate by next year - although not everyone is convinced."

Talk about negative Journalism 'would be drillers' and 'not everyone convinced'....all in the opening paragraph. Ambrose probably lives in the Weald and is probably a NIMBY but drives a 4X4 !!! I live in the Weald near an oil field and I wish every industrial and agricultural unit was as clean, tidy and environmentally looked after as the oil well.site.

Solo's 234m shares being sold will hold this back for a while but not too long. Lots of small buys so possibly Angus profits coming over here me thinks given Angus has fallen back from 12.75p this morning. Happy to support both if it confirms the giant oil lake concept SS believes in. UKOG has the largest licence area and I expect the IOW to be a gusher given the proximity to the Wytch Farm Field.

Argus1....I really hope so!

Moon81111....I'm a Brit, pray tell me what you are?

Probably a large Sell being processed in the background....most likely another £15m from Solo. This will hold the price back for a week or two but doesn't change the quality of the asset and the fact that the Portland is commercial. SS is quite a conservative character and he would not be announcing a commercial find unless it is. I think its commercial plus given the Kimmeridge is likely to be a far greater producer.

Made me laugh as well.... my sentiments also. I'm not interested in + 5-10% because I know it also works the other way i.e. -5-10%. Thats unless you are absolutely brilliant at trading and can anticipate every factor that may a send a share up and down. Not many fall into this category in my experience.....even the city pro's.

Argus... I may be confused but UKOG say they are targeting 720-1080 bpd DAILY not per well. EnergyVoice says the Portland Field Development Plan consists of up to three production wells and 2 pressure wells to achieve this. I hope I am reading this wrong but with the Kimmeridge 3 and 4 producing the total from this site could be well in excess of any figures I have seen.

Much has been discussed about transporting the oil from HH. The M23 is only 10 minutes from the oil well site and then the M25 and M3 all the way to Southampton and the refinery.... an easy journey for a transporter. Given the proximity of Gatwick (5 minutes) and the quality of the oil light sweet crude its a shame we can't process on site to make Aviation fuel. That would be a dream situation!! I'm not a HGV driver but each tanker with two drivers I would think could make 3 journeys to the site , back to the refinery, and back to the site. There are plenty of reasonably priced hotel, guesthouses near the site for the drivers overnight.

I note that UKOG subsidiary company confirmed it is targeting a “sustainable daily Portland production rate of 720 to 1,080 barrels of oil per day (bopd). This is from up to three production wells and two pressure wells. This is without the Kimmeridge which is an unknown as yet apart from the initial tests which produced 3 times the Portland production. So at maximum this could be 1,080 Portland and 2-3 times this for the Kimmeridge which is approx. 4000 bpd or 18 tanker loads which is not excessive vehicle movements in my book. many large companies have far more vehicles in and out in a day. At minimum this is 2800 bpd or 12-13 tanker loads. I am not sure how much HH crude sells at but it is a significant amount financially.

Argus1...I may be wrong but my understanding is that the PP is down to the SCC but if they rule against or prevaricate over a decision then the OGA will rule and usually in favour of the applicant as long as all application aspects are covered correctly. Local Councils are often scared of voters not voting for them in the next local elections and sometimes go with anti crowd. I don't think SCC is in this bracket as they have given permission to UKOG and Angus so far. Angus now has a production license and it would be crass to then object to UKOG having one. The precedent has been set. Also in answer to another post much of the license application has been covered in the exploration and testing license i.e environmental issues ...no bats or newts, working hours, flare size etc. Obviously there are issues such as number of tankers per day etc. but I can't see a production license taking a disproportionate length of time.

tkr.." Maybe we bought solo,s % too soon.IMHO"

Not in my book we didn't. We bought another 15% for £4,500,000 which I remember as being at 1.92p a share. This will seem very cheap when Solo is out and the share price is 3-4p and more. Solo desperately needed the money for their Tanzania project and I speak as a Solo holder. I only wish UKOG could buy out their remaining partners so they have 100%. Their licence area is the largest in the Weald and it would seem SS's belief of one big oil lake is being proved up with Angus's drill coming into production and Portland (very likely) commercial. If the Kimmeridge flows as it did on the test drills then it is just a question of time before our share price moves significant upwards.

Drewky...thanks for reminding us about why AEX is potentially a good investment. I am in very deep here but had almost forgotten the potential and was getting somewhat dispondant about the situation.. AEX would have had to alert the market if there was no basis for a 30% rise so fingers crossed for positive news this week.

Didn't we see a 15m sell yesterday followed by a 10 m buy? There were some 5m buys as well during the day if my memory serves me well!

Most of the trades are small from what I can see so doubt it's the number or value of buys against sells. Can't see it being a pump and dump either. 20% up is unusual for AEX over the past 18 months. Can there be anything else apart from the 25 year Licence causing this to move? Buy out by Zubs?

Jersey...swings and roundabouts. A year ago Angus was 30p+ and now 9p+. UKOG for me a much better investment with larger UK asset's potentially. Angus has a long way to go to get back to last year's high.

The pressure must be emense to create a 'jet engine' flare!

That's quite some flare!