Member Info for kempey

If the flow rates are good and Zaza announces them the share price will rocket and majors will walk away. It happened to AST last year. I think the flow rates are good and that's why two majors are interested. Zaza says the three drills are commercial which is good enough for me to buy more.

What a load of nonsense. I hope it costs to place such a claim. Sounds like a second year uni student who thinks he knows all legal procedure after attending 10 hours of civil law lectures. As Stone said a timewaster. If not a student then a uni drop out or newly out and probably couldn't get a real job in the legal system.

If you have the open offer letter then you have an entitlement. Having said that did you buy 1600 before the consolidation? I think it was 1:20 so my 4m shares became 200,000. 1600 would have become 80 shares. If you bought after consolidation then the offer is at a ratio of 1:9 so you will have an offer of 178 shares at 2.25p a share or about £4's worth which at 2.30p a share today gives you 94p less trading cost.

Esso already have plans for a new pipeline from Southampton to Heathrow for aviation fuel. Why not a spur to Gatwick two pipelines one for aviation fuel the other for crude oil back to Southampton. https://www.slpproject.co.uk/

If this is a major oilfield then pipelines will be laid though it will take years given the red tape and obstacles in the way.

willow....I can't see why you can't but you would need a large entitlement to make a reasonably profitable trade.

JPtop7....are you sure it was a buy. I'm not.

Fair point Joe but it depends on whether you value Tanzania a better investment than HHDL or visa versa. I would rather the money go into Tanzania which long term will be far more advantageous to Solo IMO. But I have a significant holding in UKOG so I have covered both investments I guess but I understand where you are coming from.

Belgarath.... can we have a breakdown company by company?

burningdown1side..........i would have said the same a few weeks ago but with the the Zubairs on board in Tanzania and ready to start drilling a known gas and oilfield, AEX's RNS this week and todays news re: Solo I can see my current on-paper loss turning back into profit within the next 18 months and still much better than it being in a bank. I can now see light at the end of a tunnel!

JJG...not sure about the potential your figures suggest but do agree with your comment " Scale down the volumes and values and you have to go a long way for it not to be commercially attractive".

Thanks for putting the figures into perspective and doing the maths....its a start...to be deconstructed once we have more solid data from the company and know there intentions regarding how many wells and flow rates. I'll be more convinced if they have 2-3 producing wells at 1500-2000 bopd each. Having said that i'm buying more shares on any drop below 2.25p and may buy a large tranch to add to my largish holding on declaration of commerciality... no doubt at a higher price.

"Your calculation has 5% of 83bn barrels recovered over a 30 year period. That's 4.15bn barrels over 30 years, or 138.3m barrels annually. That's about 450,000barrels daily. At 215 barrels per tanker that's 2,100 tankers per day"

Hilarious... and energy giant BP has just announced plans to develop two new North Sea oil fields capable of producing up to 30,000 barrels a day and they are very pleased with this potential!!

Do we have 2,100 tankers in the country?

Hope everyone's applied for their rights issue shares at 2.25p. Soon be worth far more.

I'll be surprised if we have 10 billion shares in issue. More likely a consolidation 1:10 or 1:20 before we arrive at that figure. Share price goes up accordingly but in my experience can fall below consolidation share price until further positive news. If HH is commercial and flow rates are good then its not a problem as we potentially have a large oil field similar to Whytch Farm if not bigger. Share price will rise accordingly. All looks good to me though we may be 2/3 years off 15p plus.

"UKOG also agreed to issue London-listed players Gunsynd and Primorus Investments a further 2.6m and 6.5m shares, respectively.<br /><br />As of 0820 BST, UKOG shares had lost 2.27% to 4.96p"

2.6m and 6m shares nothing in the scale of things but do not understand the 4.96p.....have they got the figures mixed up?

We should be past 2.87 already. I do not understand those selling given all the indicators are so positive. I can't remember but do we have permission to drill the second well at HH?

If they prove its commercial and the flow rates are good and sustained Institutional buyers will provide the cash to buyout DOR and ALBA and then UKOG is set up to be bought out in its entirety. A much neater package for a major.

I can see them taking out DOR and possibly ALBA though they will have to raise the money to do so. Hopefully a rights issue like Solo just made. I think there is enough interest.

no time constraint as far as i can see but they won't sell them yet...not until HH is declared commercial and the shares are worth a lot more and possibly not to Q4 later this year

I have large holdings in UKOG and Solo and to me this is brilliant news for both companies. 1) to me this signifies that SS already sees HH as commercial and wants a bigger % holding in the licences. 2) Solo is strapped for cash and will need their share of the development costs in Tanzania which is a far bigger oil and gas field and thus potentially a better investment than HH. 3) Solo took their money in shares which means they also see the potential in HH being commercial and the shares being worth far more when they have to cash them in later this year (they do not need the money immediately as far as I am aware)

I wonder who knew what!! They should make a handsome profit today once the bid rises.