Member Info for nhawan

There was no blockage. The Kimmeridge zone is being prepared for testing. The sp drop is because there has been no real news just yet. With production tubing going in we can assume testing should start within a day or two.

back up we go methinks. BUY.

I think now is probably a good time to buy. The previous dips have all held around 1.8p followed by a decent bounce back to 2.5p. If the flow starts this week then that's a decent profit.

Everyone panicking since there hasn't been much news or sightings coming from UKOG. The Kimmeridge tests should have started by now but they still seem to be working over or whatever.

SP bounced from around this price last time. Let's see if it does the same again.

I think the rise will start as we see tankers. If the kimmeridge flows good then the sp may well be over 2.7p before any RNS.

Sadly it's SS who has made it a farce by going silent again. We need regular updates otherwise there are bound to be jitters as people start to worry. We need the Portland confirmation update at least to underpin the sp.

The sp is consolidating well at this level. The first sign of any decent activity at HH and it's gonna bounce hard imo. Tankers will start rolling very soon.

What has Alba gold mining got to do with UKOG's oil? Read their RNS if you want to know what is going on...

The last update RNS states the following

"Independent oil consultants Xodus Group's ("Xodus") analysis of flow and pressure data interprets that further HH-1 Portland vertical well optimisation could achieve a forecast sustainable initial 24/7 pumped rate of around 362 barrels of oil per day ("bopd")* when full scale long-term production commences, exceeding original estimates. This analysis is key as it establishes the absolute flow potential of the Portland reservoir for future production wells."

Xodus would not have allowed them to use that in the RNS if they were not going to declare it commercial.

The pattern over the last month or so suggests we are near or at the bottom of the current downtrend. I would expect a lot of buying tomorrow or maybe later this afternoon in case an RNS drops Friday or Monday. The perforations gun has been taken from the site so most likely to see some oil flow very soon.

Even if they declare the Kimmeridge commercial at 500 bopd that is a success and a game changer. The potential of over 11 billion barrels of oil in place is not to be sniffed at.

With buts outweighing sells 10:1, I suspect a tick up is coming this afternoon. Who would risk being out over the weekend ;)

The current MCAP for UKOG is around $140m so sp should be near double if the updated Portland volume is estimated to be near 60Mboe. It looks like the sp is essentially only valuing the company on just 30Mboe of Portland oil and does not account for all the other assets such as BB, Kimmeridge layers, etc.

The results so far have been outstanding and a slight dip has got everyone worried. It's obviously just short term traders banking on a lower price in a period of 'apparent' no news. However there is the commercial Portland confirmation RNS to come and initial Kimmeridge rates. These can land at anytime so all looking positive so far. Traders sold on news and should be ready to buy back in soon.

You could wait for 2p but what if it never comes? Are you going to risk missing an RNS?

I expect a bounce today due to the possibility of an RNS tomorrow or Monday. The sells were muted this morning as the MM's tried to relieve shares from the weak. Now is probably a good time to go long imo.

This is why the MM's are dropping it. They can scoop up the UKOG shares on the cheap and sell the ANGS shares at a high price to those jumping from here.

The reversal may happen tomorrow.

can get a quote to sell a large chunk of shares so someone is obviously willing to take them. A commercial confirmation RNS could land any moment. Charts say it should bounce from around the 2p range.

It's not really a big risk if you are in for only a short time. I doubt the sp is going to crash until the results are out.
Chances are that at least one Kimmeridge zone result will be out in 3-5 weeks and if it's positive then the sp will be alot higher.
If someone made £300 per day trading like this then it's a nice wage earner imo.

The EWT is already around half way through. Another 2-3 months to go for full results but it's derisked a fair bit since we already know the Portland is commercial. There are 2 kimmeridge layers to test so we will find out if one of the Kimmeridge layers is commercial in about 4-6 weeks. I reckon production is no more than 6 months away which is not a long time in this industry.