Member Info for ocelot

What 'new technology'?

If UKOG had 'new technology' available they'd have already used it to get the Kimm on production when oil was up at $120/bbl last Summer.
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Believe UKOG had other priorities at the time.

The prospect of "squeezing the Kimms with new technology" is an exciting one.

Push2 has always said he trades 25% (if I remember right) of his positions.

Could be a buying opportunity, of course.

Another brief extract from another poster on the UKOG board, Push2:

"Kimms are still alive given latest learning and technology"

Sting69 has posted another positive post re HH from David Lenigas on the UKOG board this morning:

DL Prpretty up beat

"And with 31 million barrels in the Portland sandstone and a hell of a lot of OIP in the Kimmeridge limestone (that flowed - gushed - 55,000 bbls of oil on test, HH3 will be designed with PPP’s team and UKOG team to be the best it can for flow and production." ...

... possibility that a "temporary" connection was rejected on safety grounds, meaning the well remains shut in until they commission the new pipework.
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Push2, that would require an RNS to the market without any delay. The absence of any RNS is, in fact, a positive, it means there is no significant news that needs to be released to the market.

We are expecting the well to clean up further which is likely to raise that flow rate in the future. Whilst producing through a temporary connection, the new well flowline will be constructed to enable full plateau production this summer. (RNS of 18/04)

In fairness, this RNS only goes back 9 days, (even if, for us impatient PIs, it feels longer!).

It reported completion of the INITIAL clean-up. Clearly, the well has continued/is continuing to clean up.

at 1.0588p at 15:56:35, explains the decline in the share price.

Forward selling is when the traffic lights turn green.

Connection to the plant for gas processing and export is planned directly after the clean-up and we expect to realise the combined flow rates of all three wells later in the month. (RNS of 03/04/23)

Had been anticipating that the share price drift upwards as we approached the end of the month but there are only 2 full sessions remaining now and the share price is drifting ... sideways.

It's been largely one-way traffic for about the last hour or so, sellers seem to have become more scarce.

front month: 90.25p
Winter 23: 141p

https://www.theice.com/products/910/UK-NBP-Natural-Gas-Futures/data?marketId=5419494

as per the last annual report.

Further, the Loxley CPR of 21/02/23 indicated a mid-case 2C post-tax net present value of up to GBP124 million (at 10% discount rate, although the price of gas has declined since then)

Tweet 1 hour ago, 1,007 views already:

TURKEY LATEST: Drilling down through primary objective at Pinarova-1.

Volume still good (863m at present) but calmer conditions prevail, yesterday's near manic behaviour seems to be behind us.

And while the share price behaves as it does, the operator gets on with their work and the drill progresses.

The filter is there - nobody is obliged to read posters who are constantly negative.

... Consequently, in order to evaluate the oil shows more fully, ... it is planned to run electric logs to identify oil pay, followed by cemented 7" casing. This configuration will then enable definitive conventional selective cased hole tests to be performed, WHERE ANY DISCRETE IDENTIFIED OIL ZONES CAN BE PERFORATED AND ISOLATED FROM ANY WATER BEARING INTERVALS.

So let us hope they can identify some discrete oil zones in their follow-up evaluation of the oil shows.

1 hour ago:
TURKEY UPDATE: Drilling preparations continue at Pinarova-1. https://tinyurl.com/shkrzht8

4 hours ago:
TURKEY UPDATE: General work continues at Pinorova-1, preparing to drill 8½ inch hole ahead into the underlying primary Hoya objective. https://tinyurl.com/shkrzht8

Juxtaposing 2 extracts from AME's 2022 annual report (my capitals);

Chairman and CEO’s statement

In 2022 AME focused on consolidating production with a series of
production and appraisal wells, whilst drilling one exploration well
and gathering data for POTENTIALLY GAME CHANGING EXPLORATION PLAY which will be
executed in 2023. (ie Pinarova -1, see below: extract from p12)

The main exploration focus (this year) for exploration will
be on Resan. If the shallow play is successful here it will be followed by a second shallow well in the year ... (p15)