Member Info for nhawan

The company may well be producing over 2000bopd in a few months which is nothing to be sniffed at. When they have a regular income of over £1m per month then I doubt the sp will be lower than 3p for long.

Reaching target depth and an RNS stating they have encountered an oil column will be positive for the sp. Many are risk averse in case the drilled well fails in any way.

I'd recommend coming back in 3 weeks, when they reach target depth. Perhaps they might even encounter oil before that...

Do you think it's gonna take 60 days to get to the oil column? Some derampers seem to be hoping the sp will keep going down. Wait to see what happens when target depth is reached in about 2-3 weeks.

I think we will have news in 2-4 weeks as the drill reaches target depth. Part of the risk of any drill is not encountering oil and I'm sure the BoD will tell the world when an oil column is encountered.

Pboo,
Either way they will inform the market when they have reached target depth and oil is encountered. That should be within the next 2-4 weeks if drilling commences early next week. I suspect many will be jumping back in end of next week if not earlier.

Yare,

The total time to completion of the horizontal well will be around 60 days but the vertical depth of around 1800ft can be drilled within 2-4 weeks. This is where it will get interesting as the risk averse will be waiting to see if they encounter oil at target depth before piling in.

The horizontal section of 1000ft will be completed after they have evaluated the oil pressures, flow rates, etc.

you bought at 1.174p which is slightly below the mid point between the 1.15 and 1.2p spread hence why the system reports it as a sell.

how did you purchase half an hour into the future?

I guess those who forced the sp down after rig arrival have got their shares cheaper and now are moving it up for the imminent spud. MM means Market Manipulation ?

ibug clearly trying to talk the share down to get a cheaper buy in price. He doesn't even know about the recent approval for 25 years production or that the percentage UKOG own is 85% now.

1.15p is the point to buy on the charts. Should bounce from here before well spud.

1.15p is the price to look for to get in according to charts. Should bounce from around here.

The selling is the short termers who will come back after a few weeks as the drill nears target depth. They may be paying a higher price by then though.

The spread is causing the buys to be reported as sells hence the huge discrepancy. All the 1.22p trades are actually buys.

I wonder why the mm's are trying to give the impression of more selling ??

Drilling is scheduled for before end of month. I'd be very surprised if it doesn't arrive in the 7 days.

As with every share, expect the traders to get in before the first well has reached target depth. Will be an exciting October.

If the MCAP hit 360m it would equate to an sp of around 4p-5p. That is still a pretty big rise from here. Expecting 2p+ by mid-Oct if not earlier. As news gets around like last time then sp may shoot well past 5p. Can't see it staying low once the horizontal wells are producing oil and ukog is finally making some decent cash.

Many will be getting in by end of this week. The drilling is scheduled to commence before end of the month and a successful horizontal well will definitely increase the tankers rolling in and out. Who would risk being out before the target is hit?

It will only rise and maintain an uptrend when institutional investers buy and hold shares. AIM is normally a case of traders getting in for the short term news and taking profit hence why you usually get a rise followed by the inevitable retrace back to where it started.
Once production has started and UKOG is making a regular income then the sp should be alot higher imo.

Too early to get excited. The traders who sold aren't simply gonna buy back in after a day. Expect more selling tomorrow as those who are still in close their positions.