Member Info for mcadder

I agree - but in the meantime while it's quiet I have managed to get another 3M this afternoon at 0.108. Absolute bargain imo. Can see Great Western and a few others being a real turn around story on AIM for 2020.

Twitter

UKOG
@UKOGlistedonAIM
1m
HORSE HILL LATEST: Production logging tool equipment has finally become available enabling routine water shut-off intervention to be scheduled in February

UKOG
@UKOGlistedonAIM
5m
LATEST NEWS: Interference testing demonstrates HH-1 & HH-2z can be produced simultaneously without detriment to Portland reservoir's performance

UKOG
@UKOGlistedonAIM
8m
HORSE HILL UPDATE: Up to 25 years of continuous long term production to start Spring 2020 via HH-1 Portland, followed by HH-2z in Q3 2020 after extended well test

"UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that as a result of a successful reservoir pressure "interference" testing campaign, undertaken to assess the degree of communication between Horse Hill-1 ("HH-1") and the new HH-2z horizontal, the Company now intends to accelerate the start of up to 25 years of continuous long-term production ("Production") by 6 months. Production is now planned to commence by bringing HH-1 into Production during Spring 2020"

Gold holding up at over $1580 would certainly be a good time to release any further positive news on the gold side of things fingers crossed

mcco - "inversters"??

You clearly can't spell either lol

Ffs can't even spell continue right in the RNS...

"contines to evaluate" lol

I've waited and waited like lots of other investor's but had enough. Sold some more this morning.

Is now a good time to say that I bought 2m shares here today? Lol

Another big plus for the company as they continue to generate revenue and hopefully move towards making sustained profit....

"Due to the nature of the Group's business, it has accumulated significant tax losses since incorporation. The Group had trading losses of $569.2 million at 30 June 2019, which have no expiry date and would be available for offset against future trading profits"

On the issue of water I doubt that there has been any change since this from the company from a few months ago otherwise we would have heard about it long before now.....

"We have gone to great lengths to explain why we do not expect to see coned aquifer water during the lifetime of the EPS, under our base case. This is our continuing expectation. The perched, or stranded, water we have experienced is consistent with our reservoir model and since our capital markets day presentation this interpretation has been reinforced by the Company's technical work. Notwithstanding the increase in aggregate perched water production to a sustained rate of approximately 7.5%, water cut remains within expected ranges and is not impacting oil production levels or the cost of production."

Couldn't agree more Chinski. What it has done though is provide me the opportunity to add more at 25.72p. Will continue to add on any further weakness.

Wouldn't be surprised to see this finish blue today. Looks like this could be the turning point at this level...

"would just like to get a feel for the bottom - without being arrested of course."

Lol

Bought in today just before close...definitely value at this level

hxxps://www.vanguardngr.com/2019/11/lekoil-stakeholders-panic-over-plan-to-covet-assets/

Investor and Stuart - how is this at all relevant to the present day situation? This and the quotation that banks are currently working with Lekoil on a detailed valuation of assets etc etc is from 7th Nov 2019!

Currently 9% up. Either just technically massively oversold and some taking advantage or perhaps some good news imminent?

Mark MacFarlane

"Fundamentally gets down to the decisive field and the geometry that allows us to change the placement of our future wells to allow us to continue to deliver the reserve that we currently forecast. To give you some color, the year end '18 reserve in Jubilee was about a 123 million barrels, year end '19 was about 120.5 million barrels despite the fact we have 11 million barrels of production from Jubilee. So, that's why we believe and the auditors also believe that our reserves in Jubilee are robust and are unchanged."

"The next phase of the review will focus on the plans for each of the group's major assets, looking at further elements on cost base, our investment plans and ultimately our strategy, including monetization options across the portfolio, consistently asking ourselves how best to operate within our means and deliver value to our shareholders.

Overall, I believe we will be able to make meaningful improvement to operational performance in order to deliver sustainable free cash flow and reduce our debt. Looking further ahead, the recruitment of the new Chief Executive Officer is well underway with the assistance of a very good executive search firm."

Open 49.5p Close 59.5p

Result.

Doesn't work like that. Yes debt is 3x mcap but to reach a fair value you have to consider the high quality and sheer size of all the assets Tullow have.

Over the lifetime of the assets they will produce 10s of billions in revenue - something your house never will lol

To an extent PEEL seem to be very much in control of the SP and the spread given that they are a market maker with over a 20% holding which may explain the sells being absorbed with just a 6% drop.

So they are in the fortunate position of making money both with sells and buys unlike us poor PI's.

Given where the SP is currently I expect that the 7p placing investor's are wondering what is going on just like us.

Thought about buying back some of the shares I sold a while back at around 5p but at the moment the bod are giving shareholders no incentive to do so as there has literally been no comms on anything going on behind the scenes for months.
Yes we should get confirmation soon of the next lifting that should show us being cash positive for the first time ever but what we all want to know is what is going on with potential acquisitions as well as an update on development of the aje field now we have a new partner in the mix.
Osa you said back Sept that you had been working on a number of deals prior to becoming CEO in June and that these just needed structuring and that in the coming months we'd get to learn about them?
With your inside out knowledge of how bureaucracy works in Western Africa I thought we would have heard something long before now?
Give us something to be hopeful for - anything but just not another placing with nothing to show for it!