Member Info for nhawan

Looks like sellers drying up in the 2.18p area. Demand picking up.

If this does go any lower it should bounce from 2.1p imo. Silence from SS isn't helping things at the moment.

It looks like it may actually bounce from this point rather than drop further. The sells seem to have slowed down.

I think we can assume that the Portland testing is commercial since it mentions the success of HH in todays RNS.

"PEDL 143 has recently been extended until 30th September 2020, and in addition to the established Portland sandstone reservoir, contains the Kimmeridge Limestone which, following success at the nearby Horse Hill discovery, is an emerging play in the Weald Basin"

I would expect an update this week to confirm.

"PEDL 143 has recently been extended until 30th September 2020, and in addition to the established Portland sandstone reservoir, contains the Kimmeridge Limestone which, following success at the nearby Horse Hill discovery, is an emerging play in the Weald Basin."

The 'success' of the HH discovery? Sounds good to me :)

SS is totally a novice at PR and protecting the share price. If he has positive news then it should be released asap to encourage investors. By holding back he is only causing fear and negative sentiment.

It seems a bit strange that they tested the Portland at a fixed pump rate after the new pump was fitted. I expected varying speeds to determine the max flow, etc. Hopefully the bigger pump has double the capacity and the 2.5 strokes is actually equivalent to 5 strokes per min of the old pump.

Anyone know what that would translate to in barrels of oil?

The previous pump was rated at 500bopd and maxed out at around 5 strokes per min. The new pump is bigger but what is it rated at?

Why is everyone assuming there have been 11 tankers to date? You do realized the twitter guys cannot be at the site 24/7 right? Any tankers can easily come and go within an hour so can be missed. There is a good possibility that some tankers have not be spotted.

slowly creeping on the daily trend. All things look positive for a rise past 2.6p tomorrow.

The charts indicate it is heading for 3p. If it breaks and holds 3p+ then we have a proper breakout on the weekly indicators.
With game changing news due I don't see why it would start dropping in the short term. With bullish sentiment coming from SS I think the news will be positive.

The traders are banking on no news for a couple of weeks hence the jumping in and out.
A few tanker sightings are definitely needed.

UKOG didn't pay any cash. They issued shares which SOLO are holding for the foreseeable future. I doubt SOLO would be opting for shares if they thought HH would be a failure.

Since the market is usually pi's and traders I suspect some just sold on news rather than looking at the bigger picture. SS is increasing UKOG's share of HH which can only mean it will be a commercial field. There is no way anyone would do that if it was a failure. Expect Portland news very soon imo.

The portland has a natural flow rate of around 223bopd so unlikely to have a lower flow rate with pump assistance.
The old pump yielded around 400 bopd stabilized so look at that to be the lower case figure imo. However with the additional perforation and a bigger pump I think it will be higher.

The rise will be sustained as more tankers are sighted. The usual drop at around 11.00am is the profit taking by traders.
Expecting 3p+ by Friday.

To see a true breakout the sp needs to close at 3p according to the the weekly chart. The rise over the last few days is nothing compared to what could be coming imo. The sp was holding above 3p for a while when there was hope of oil flow at BB.

Only focusing on the Portland doesn't make it any less exciting at this stage. We all know that UKOG is in a risky position because they don't have commercial status yet. If Portland can deliver over 300bopd then that would significantly derisk the company even without the Kimmeridge. Remember that other companies like ANGUS are barely pumping 100bopd and even that is commercial quantity.

This should hit over 4p before the RNS is out. HH is on the cusp of being declared commercial which is a bigger sp driver than last year's BB testing. Once Portland is derisked then we should see a steady rise as the Kimmeridge is tested. 10p+ is very possible.

I reckon 4p+ once Portland is declared commercial and then probably a gradual rise as the Kimmeridge is tested.
A fully commercial HH could hit a 500m MCAP quite easily. If you do the math that's 10p per share.