Member Info for nhawan

No real volume today means everyone is just waiting. Holders are not gonna sell at a loss unless desperate. This will likely stay around 0.2p and consolidate. People waiting for a lower entry may be disappointed.
All the bad news was out last week so I reckon anything positive will send this higher. The SCC decision being reversed will be a start.

No tankers because the well has been shut-in for pressure testing according to the last RNS.

The company put out the bad news last week immediately after the council refusal decision for the Loxley test. I reckon it's best to hold since they will be appealing the council decision and it's likly to be overturned. The HH well is still being worked on and we should see equipment arrive to re-perforate it over the next month.
Both these will increase the sp as people take positions. Downside is fairly low at the moment since no one is going to sell at less than 0.2p without making a loss.

Elegance,

perhaps read the Placing RNS before making a fool of yourself...

"To fund items 1-3 above and to provide further general working capital to move the Horse Hill, Loxley Portland gas appraisal and Isle of Wight oil appraisal projects forward, UKOG has raised £4,200,000 through a placing ("Placing") of 2,100,000,000 new ordinary shares ("Placing Shares") in the capital of the Company. The Placing is being made at an issue price of 0.2 pence per share ("Placing Price"), representing approximately a 17% discount to the closing mid-price of the Company's ordinary shares on 2 June."

0.2p is the lowest anyone has bought in at including the placees.

Unless someone wants to sell at a loss I doubt it would go sub - 0.2p and if it does you won't be able to buy much at all. Most pi's have bought in much higher and even the recent placees got them at 0.2p.

Expect a steady rise as we start seeing workover equipment arrive at the site or when an appeal is submitted to the council.

Read ALBA's RNS today regarding HH. That is reason enough.

Most pi's did buy at over 0.25p so not likely to sell out at a loss. Expect sp to recover moving forwards as site activity increases when they are ready for the workover.

Regarding the Horse Hill-1 Well ("HH-1"):

"On a positive note we also firmed up our plans for the reperforation and recompletion of HH-1. The current completion and perforation scheme is less than optimal for both pump efficiency and oil inflow. Consequently, if successful we remain confident this programme can further improve the well's oil production rate. We currently plan this activity to occur this summer."

"…the Company also plans a significant intervention in HH-1 specifically designed to further improve flow into the wellbore. Together with a full reperforation of the entire Portland section using a different type of perforating gun than prior operations, a new, simpler production tubing completion will be installed. The new completion will permit the downhole pump to be installed below the Portland interval to significantly improve pump efficiency."

Interesting couple of months coming up. Looks like they will be reworking HH-1 with more perforations and aim to improve pump efficiency. Should be able to a fair bit more than the 300bpd there have been getting. It's all doom and gloom right now but expect a recovery very soon imo.

That shows some real confidence. I suspect everyone will clamber back in once they realize HH is not a dud just yet.

Looks like it's held 0.2p well so maybe a good trade from here. Bad news out of the way in one go so can see this recovering.

Sadly last week's rise has proven to be a P&D judging by the apparent failure of the HH re-perforations. The recent placees are laughing all the way to the bank. Water cut appears to still be a problem which they can't seem to get rid of. By all intents and purpose HH is a huge failure.
Was thinking 0.2p might be near the bottom but not after today's RNS. Looking at 0.12p as being realistic now.

I can already buy in cheaper but I think I'll hold off now. If HH is not as expected then is it worth buying in to?

While people are pre-occupied with a planning refusal the real story is that there have been no tanker reports today. I reckon that is a far more important issue at hand. If we don't see any tankers for a few more days then prepare for the worst. SS and crew may be just have played pi's like a fiddle.

I thought the sp may hold up due to anticipation of the permission RNS on Monday but that's now done. Down we go.

Afternoon drop coming as traders cash in. Far too risky to stay in over the weekend. 0.029p close imo. Volume has dropped off since the rise early this week.

Gotham, Read the RNS again...

"UKOG (London AIM: UKOG) is pleased to announce that it has received warrant exercise notices to subscribe for a total of 129,375,000 new ordinary shares in the Company at an exercise price of 0.2 pence per share (the "New Ordinary Shares")."

That is not 2p as you say. Care to tell us who the warrant exerciser is?

I can't find any RNS that shows that there were some warrants given at the all time low price of 0.2p. We know there was a placing at 0.2p but that is not the same as the warrants afaik. The RNS does not bother to tell us who exercised which is unacceptable. SS and crew should be sacked and someone who values their investors put in charge.

This is not confidence at all. Whoever exercised the warrants did so after the sp has risen over 70% and may have already forward sold them into the rise. If they had exercised when the sp was stuck at 0.2p then perhaps we could agree but as it stands they stayed well away until they were well above the warrant price of 0.2p.
The BoD has not shown any support for the share by putting any of their own cash in.

The UNICO LRP has a max capacity of around 1250 BPD. Not gonna get more than that unless they change the pump after initial tests.
http://regalaustralia.com.au/mktg/marketing/pdfs/LRP_flyer.pdf

Test of 0.25p coming tomorrow if there is no RNS.