The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Zoom the fractures will not have opened further, unless there's been a big quake nearby. If the flare is burning more gas then they are either flowing more oil to generate the extra gas, or the flow is more gas rich than normal. It is a subjective opinion as to weather the flare is processing more gas or not. Either way, HH is still bringing hydrocarbons to the surface. We are long overdue a step change in fortunes. GL.
I still think Texas but I believe that he is biting off more than he can chew. Any normal business with access to normal borrowing facilities would not do this. If he can keep getting placings away at no cost to himself or current cash reserves then he will keep doing so imo. These new assets will then burn more cash before they return value to ukog. Acquisitions need to stop for now.
BoS, we will soon find out. As Sage alluded to earlier, either SS and his board have absolutely no business acumen, or they are very optimistic based on the info that they are privy to. Today's events completely nail on a further placing to fund HH3-6 and IOW. SS clearly has no gripes about passing the cost to investors.
SS has more acerage than he needs for the foreseeable. £25m raised this side of BB and not one additional hole in the ground to show for it. He clearly values having his 'hopper' of drill sites More than he values current shareholders value. Yes he may significantly increase the MC in the next 12_24 month, but how many shares will be in circulation by then? He has turned ukog into a traders stock and had decimated shareholder trust. It's a long way back from here imo.
Marked increase in new accounts all over this board all week, now a placing rumour and something about a snag with the rig. Either a concerted effort to drive the price down, or SS will have some explaining to do if either is correct.
There is no delay as such. SS says Autumn for all permissions, council dates are proposed. Looks like the application gets pencilled in based on the assumption that it will be ready but ends up getting bumped when it's clear that it won't be.
No point in going up in front of the committee until every detail has been clarified. This application is a huge deal with ramifications for next 20 years. . I'd imagine that there will be a lot of dialogue between council and ukog, maybe even between council and relevant regulatory bodies. Proposals may need tweaked to fit.
Logging the well and setting plugs is far less complicated than drilling a horizontal, dropping the liner and squeezing cement. Most likely Angs require a lesser spec rig imo. Perhaps one that is more freely available.
I'm waiting for the rig to turn up and drill 2 horizontal wells that should get 700-1000 bopd each when eased into top gear and generate the guts of $5m revenue per quarter to the license holders of HH right up to HH3 spud. I'm waiting for planning permission to drill and produce from 6 horizontal wells for 20 years that will at some point during 2020, negate the need for any more fund raises. I'm waiting for Portland CPR and later, the game changer, the Kim CPR. Then onto IOW and GB. I'm not interested in the fun and games on here, especially the twisted derampers. I appreciate the photos from the site and make my own mind up as to their significance. Today's sp is a mystery, same as the 10p spike. Should have sliced but didn't, my fault, noone else. Don't need my stake out any time so happy to wait and see how the story unfolds. GL.
Blade, all we know is that 2019 activities are funded. So hh2, HH1z and the installation of production facilities at HH imo. My understanding is that ukog are only liable for half of this cost. Beside this are some mouthwatering calculations from sales revenue of test oil from the 2 horizontals from H2 2019. I think that HH3-6 could be self funded but I wonder about the 100% owned wells to be drilled in 2020 where we haven't even cut sod yet. Throw in salaries, lab reports, planning application costs, site leases and reports then I'm not sure about fund levels to cover this.
Dilution killed all the potential rise from HH ewt. 35,000 barrels of oil, no water, great predicted production flow rates, Portland commercial, Kim all but in the bag too and we're only a quarter of a penny better off than the BB lows. We now have a controlling interest in more acerage to facilitate medium and long term plans. I'd love to see no more overhang during the next six months. It would be great to experience a sustained upward trend.
I do think a raise will be needed, the question is when and at what level? Will it be in the summer after the first two horizontals are producing test oil, or closer to winter time? How much will they need and what will the sp be? Far too many variables for a PI to work out. And if the raise use to facilitate full production up to 3500bopd given time, it's a raise that I'd be ok with.