Member Info for nhawan

The UKOG RNS says it's 17th Sept so not sure why people are speculating that it will be earlier. A full month away and we all know how SS like to smack us with placings before any anticipated 'good news'.

OK what do you think the MCAP should be and why do you think it's too low?

If ANGS fail to flow Balcombe or encounter water then it's all ovver for the Kimmeridge. Their Brockham well was a failure due to water and so far HH seems to be similar so all hope is on Balcombe now. Will be early next year before they start flowing it though.

Classic pump on merely average news flow. At least 6 months before any actual oil/gas flow. Let's see who gets spiked today.

This will fall back. A deal does not necessarily mean anything until the gas is being shipped out. I remember other companies making deals like this but never got to the dtage of actually delivering the oil or gas.
Either way it's 6 months before the gas is pumped out. Take profit imo.

Try forward selling 2-3Billion shares. Someone needs to buy all the shares and I somehow doubt anyone can shift even 200m shares easily let alone the huge amount needed for the next placing.

It's wishful thinking to expect a pump up in price for a placing when we all know the placees who are handing out the money always want the best return. They will want the sp to be as low as possible before giving any money so not likely they will wait for SS to pump the sp up knowing full well it can easily drop back to the sub 0.2p range where it has been stuck for while now.

Whatever happens, the placees will no doubt get their shares at sub 0.2p before or after Loxley.

Who thinks there will be a placing coming before the Loxley planning decision? Judging by how SS likes to cover bad news with good I suspect they might sneak in the placing before the planning decision next month. Safer to be out for now imo.

Read the RNS. There is a $3.83 cost to UKOG for the license on top of the $5m cost of the drill. Now convert that to pounds.

When they raise the £6m for the Turkey drill I reckon 0.17p will look expensive. An extra 3billion shares will dilute by nearly a third dropping it to the 0.14p area imo.

From the 23rd July 2020 RNS :-
"To earn its 50% interest in the Licence, the Company has agreed to fund 100% of the first of 5 commitment wells in the Licence's 5-year exploration term, together with a small 2D seismic survey with an expected cost of $1-$1.5 million. UKOG's net expenditure for the one well plus seismic programme is capped at USD$5 million maximum expenditure. Thereafter, the Company will fund its 50% interest share expected to be c. $1.5 million per well.

The exploration phase expires in June 2023 but can either be extended for a further 2-years, or in the success case converted directly into a 20-year production lease. The Licence's 5 well commitment to the Turkish government has a gross monetary equivalent of $7.66 million (UKOG $3.83 million), however UKOG understands that should any of the commitment wells not be drilled, a modest penalty of c. $30-50,000 is payable to the government. "

While the license looks good, I presume there will be a fairly large cost of around $8m (£6m) to start it all off. They have to start testing the well before 27th June 2021 so the well must be drilled and prepared early next year. The siesmics need to be commenced very soon so a rather hefty placing may be incoming in a month or two. There will be some short term pain before things start to get better I'm afraid. At the current sp it will require around 3Billion new shares to raise £6m.

Got out at 0.24p. Was impossible to get out at a higher price first thing. The usual routine is a spike and then slow drip back while we wait. It's another 3-4 weeks before any more action.

Will,
you are obviously just trying to deramp after missing the bottom yesterday. The RNS came out 10 mins before close. Most didn't even see it until after close. There is no way you would sell at that time of day without waiting for the real reaction which will be today..

Got some at this price. Was difficult to buy any large amount. Sp seems to have hit some support. Surely ready to move up very soon.

It's not going to zero mate. People have to sell out due to some seriously bad news to get that low. The stagnation we are seeing currently is due to lack of any positive news and everyone is just holding. No one is making any profit at the moment so I'm actually amazed there are sellers around.
The first sign of something positive coming will lift the sp quickly. Even a reversal of the SCC decision would change things imo.

No real movement unless we get some news or some site activity. I doubt it will head lower since literally no one is making any profit at the current level. Most will be holding.

The rise to 11p was brief but most people could sell for around 8.5p for a few days afaik. It was an 8 bagger at least. A 5-10 bagger from the current sp is easily possible if they plan to re-drill BB next year.

With the BB extension being granted I expect UKOG is building up knowledge gained at the current HH site for the eventual return to BB. Remember BB was hailed as the flagship but due to some completion issues it failed to flow.

The Kimmeridge still remains the main prize and even Angus Energy believes Brokham is salvageable since they now think the water issue was likely due to completion fluids. We should see more planning regarding BB towards the end of the year imo once they have enough info from HH.

If he had got the message he would have stumped up some of his inflated salary on the purchase of UKOG shares.
The BoD has so far shown no support for the shareholders of the company that pays their wages.

It looks like the council is reviewing the refusal since there is no decision information listed but was originally refused. It is obviously a huge failure on the council side and they will probably approve it quitely without going to the appeal stage.