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Two good RNS's today for sure - removing Humber is a good thing - I can see UJO wanting another decent string to their bow - I thing West Newton is likely to be along and complex development TBH. I think we'll see a lot more deals as companies with cash "go prospecting for oil on Wall Street". Europa may disappear finally I suspect.

If I was Humber I'd take the money and run - why put it back into a business that eats cash and takes forever when you don't need to ? Pay yourself £200k a year for 20 years out of the proceeds.......

"If Tymers is working for Ukog then he is commiting Market abuse, if he isn’t you are making a libellous comment which one is it?"

Never said he works for UKOG - SS may have limitations but he wouldn't touch our friend in Mumbai with a barge pole - no young 10pTymers works for whoever pays him - ask him .................. he ramps for someone else - like Heid who ramped here and then disapeared to arrive back as deramper - one who clearly doesn't live in the UK (Bank Holiday anyone?)

Fondle - I apologise - you're not a newbie you've been spouting rubbish for years - here's one of yours at 1.80 from 2 years ago... where did the Big Boys go? Why is the price 80% down since you posted???

morefondle Posted in: UKOG Posts: 565 Price: 1.80
No Opinion

Tankers and the EWT16 Aug 2018 10:23
For those fretting about the frequency of tankers and the implication this has for the amount of oil being produced from the Portland layer I offer these extracts from the Portland Extended Flow Test RNS in July

'Although we are in the very early stages of our 150-day test campaign at Horse Hill, the signs to date are extremely positive for the Portland oil pool. The unexpected bonus of natural oil flow to the surface, without the use of a pump, gives us cause for further optimism regarding the Portland's overall commercial potential.' 'The long-term reservoir performance data is also expected to provide the necessary data to enable, for the first time, Petroleum Resources Management System compliant Kimmeridge and Portland reserve figures to be estimated at Horse Hill.'

This to my mind is what the EWT is all about and 3 or four tankers a day, although very nice and earning a several 10's of thousands of dollars, in the scheme of things, will not have much of an effect on the SP. What will drive the SP up very rapidly will be a declaration of commerciality backed up by industry recognised reserve figures?

Will this come to pass? Well, I do not have the detailed knowledge or inside information to make that prediction. All I can do, just as anyone else can do, is look at the current EWT on the Portland and note that every time a change has been made the amount of oil produced has increased. If this trend were to continue through the EWT for the Kimmeridge layers then IMVHO the sky is the limit but my best guess is that the big boys will be trying to muscle in long before we get to the end of the Kimmeridge.

This is not intended to be a ramp just my opinion based on what we know so far. If you think I am wrong please feel free to contradict me but please qualify your opinion in light of the information I have given above.

"As I have said many times before the vast majority of the negative posts about UKOG come from Swampy and ER."

No evidence - just the usual Ramper insults from someone who has been on here for a short time in a new ID as they were banned before, and before, and before.......................

"Anything can happen in the world of AIM.."

True - but history shows the vast majority of investors lose a vast proportion of their investment - its worse than a casino - at least there you only lose 5% on roulette................

"SFB is within a few weeks of being approved "

you clearly never follow the history of onshore oil & gas projects in the UK - meetings are deferred, councils try and kick the can down the road and even the supportive ones crawl over every full stop & comma because they know they're likely to get hit with a court case by the swampies. Then the EA or the RSPB wade in. Europa spent nearly 10 years trying to drill Holmwood and never managed it (tho they aren't that good TBH)

If Angus get Planning permission for the full works by Christmas they'll have done very well I think

" they were then wildly under-capitalised to fund all the projects in which they were about to invest."

Panther, it's one of the sad things about the onshore is that it seems to be so unattractive to anyone with serious money that people like Humber get their foot in the door. At least they don't seem to have ramped the s*** out of their investments like Lenigas and his ilk

Egdon seem to be able to raise cash relatively easily and they have two main investors - I'd bet they've been making plans about a possible default ever since they got into the Licence.

One is a company where you know where you are - it may not be very exciting - the other is full of lunatics who think they're going to make millions as the company churns out millions of extra shares diluting every month - your choice.........

"Beradozer clearly has a job walking around in a sandwich board. Not someone I'd take advice from on investments. Filtered."

I presume therefore you take your advice from 10pTymers? Who has continually posted ridiculous forecasts since late December on here - Good luck mate................

"I wish posters would read the RNS's & understand the basis on which the next intervention on HH1 will be conducted."

They do - they just don't believe they're telling the whole truth and nothing but the truth.

We're now approaching 6 months since they TD'd HH-2z and we have absolutely no hard information on performance - even forecast performance - this was going to produce at least 3 x the rate of HH1 - is it or isn't it ???

They really must know by now.

Troll - I prefer toady's more reasoned approach to the usual "true Believer " posts!!!

You said - "Loxley/Dunsfold will likely happen before IoW." I think you are right partly because this is a council who UKOG have dealt with for several years and they know they are a decent operator - IoW has no such experience.

On the other hand Loxley is mainly a gas play evaluating the possible eastern extension of eh Godley Bridge wells. I'm sure they'll deepen any well to the test the Kimm but that isn't the main driver here.

The Fool does tend to go off the tracks on a Friday or Saturday night.

he's done good work over the years and I can't blame him for being charmed by SS - there's a lot on here who have the same issue and they've never met the man.

Pity he has to rave (Fool not SS) and get abusive tho'

Sure on th CoE

Humber? haven't updated their website for nearly two years, no bio's or even names of the Directors. Companies House show they're a very small time outfit. Suspect they thought they could get into the onshore and make money (!!)

Right now I'd guess they'll sell , or be eased out, of any license where serious cash has to be invested. Would probably go for a carry to save face. Might be a good buy right now for someone with slightly deeper pockets

Someone asked a question on Angus which set me thinking - I think it applies here as well

"With regard to other assets, this means more money raises as they dont have the funds to do everything? Wouldnt it be better to deliver what they have first and build a base? Ukog did the same thing - and unlikely to see any return for shareholders by continually diluting. I also dont see 200 bopd as anything special"

This is, of course, logical sense. But this is AIM - no one would invest in a company making 200 bopd in 2 years time. It's all about the pot of gold at the end of the rainbow, multibagging in 2 weeks, the cars, the yachts, the girls.

Given the glacial pace of regulatory approvals in the UK that means constantly having to find new projects to keep the news flowing and the dream alive.

What would happen if Sanderson told the truth and said "look guys - this will probably take 12-18 months before we're profitable. We'll almost certainly get there but really nothing serious is happening until then"??? No dream there.

It would be like Egdon - a couple of trades a day, a couple of posts on here a week.

"With regard to other assets, this means more money raises as they dont have the funds to do everything? Wouldnt it be better to deliver what they have first and build a base? Ukog did the same thing - and unlikely to see any return for shareholders by continually diluting. I also dont see 200 bopd as anything special"

This is, of course, logical sense. But this is AIM - no one would invest in a company making 200 bopd in 2 years time. It's all about the pot of gold at the end of the rainbow, multibagging in 2 weeks, the cars, the yachts, the girls.

Given the glacial pace of regulatory approvals in the UK that means constantly having to find new projects to keep the news flowing and the dream alive.

What would happen if Lucan told the truth and said "look guys - this will probably take 12-18 months before we're on stream. We'll almost certainly get there but really nothing serious is happening until then"??? No dream there.

It would be like Egdon - a couple of trades a day, a couple of posts on here a week.

"UKOG is supposed to be of national significance - will Boris really let the French Canadians gain control over the asset"

It isn't - UKOG = 300 bopd and the UK produces 1.42 million boe so that's 0.02%

There is no evidence the French are involved and no evidence Canaccord are interested in buying the company - people only sell out of HH, not buy in. And the UK has NEVER bought out any oil company in the 60 years of N Sea production - other than that I'm sure you're right...........................

"You can’t be too relaxed to leave this after the weekend because by this afternoon you will be surprised."

Trainleaving station! haven't seen this is ages.. who do we think this is - I'd say Joey but he's seen the light - DHC back maybe???

" its basically saying they don't trust the RNSs so need to go out to verify."

Good god man - this is AIM - all you can say about an AIM RNS is that it doesn't actually contain any lies - but there is an infinite area of grey they play in.

It's not just UKOG - look at Solo, remember Lenigas, look at Angus on Brockham -= they were RNS'ing progress right up until a week before they were due to start the test and then pulled the plug due to "studies have shown..."

For 8 months they pumped out positive RNS's

I was told by a broker to look at every word in an AIM RNS and ask yourself "why did they use that SPECIFIC word rather than another?" And normally its because the words used allow wriggle room (at best) and verge on deceit (in others)

It's only the eyes (god Bless them!) who provide any real information on this operation

"who says terrurian are going to reduce their holding???? Wheres the TR1s to say they are????"
https://www.google.com/search?q=tellurian+share+price&oq=Tellurian&aqs=chrome.1.0l8.6336j0j8&sourceid=chrome&ie=UTF-8
Financial results
Tellurian ended its first quarter of 2020 with approximately $55.5 million in cash and cash equivalents and approximately $128.6 million in long-term debt. Tellurian’s balance sheet consisted of approximately $364.3 million in assets. Proforma for the financing transactions which were completed in April, Tellurian would have ended the quarter with approximately
$100.7 million in cash and cash equivalents, approximately $167.5 million in long-term debt, and approximately $409.5 million in assets. Tellurian reported a net loss of approximately $40.7 million, or $0.18 per share (basic and diluted), for the three months ended March 31, 2020

Tellurian want out - that's why they sold - no? They need the cash, any cash desperately right now. As for a TR1 I think they've submitted one once - I'm not sure who has the responsibility to file them but no-one seems to bother here

"The reason for this appeared to be the overhangs"

ocelot - I agree that has had a terrible effect on sentiment - why buy even to hold for a couple of weeks when you know there are people sitting on loads of shares waiting to unload at the slightest up-tick? But we're also suffering from lack of progress- no information on long term forecasts, no CPR and no sign of a lot more tankers