Member Info for ocelot

Book net assets as at 30/09/22: c0.17p

It has the POTENTIAL to raise more funds for development by issuing fewer shares than required previously.

And if Pinarova -1 proves to be a commercial success of some magnitude, then its prospects are transformed.

northfork,

UKOG has a range of projects to develop and its overheads to meet, so more cash in the bank will always be welcome to them.

They have said they are comfortably placed vis-a-vis Pinarova-1 and, should the drill prove to be a commercial success, and depending upon the magnitude of that success, they will have access to a new source of cash.

My point is that the higher the share price rises, the less of a problem any future placing poses to investors because, in order to raise a certain amount, fewer and fewer new shares need to be issued.

It never seems to occur to derampers that the higher a share price goes, the less of a problem a placing becomes!

It’s not just turkey it the ukog as a whole
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Agreed, Bcarm, am hoping the market's interest in Pinarova-1 will lead to a reassessment of the potential of UKOG as a whole, ie. Loxley, HH, Portland as well as Basur-Resan.

What's up?

.In theory, many traders have exited and those interested in developments in SE Turkey have arrived.

UKOG is rising ahead of further updates re its drill in SE Turkey, nothing (or little) to do with Horse Hill.

3rd Resistance Point 0.141
2nd Resistance Point 0.121
1st Resistance Point 0.110

Yes, biggest volume stock on the market by a long way. About 10x bigger than the 2nd ranking stock.

UKOG has tweeted 2 photos of Pinarova this morning.

Readers of this board are very accustomed to deramping posts, one more deramper makes not the slightest difference to long-term investors in the stock.

The share price has come down a very long way over a long period of time.

If the updates from Pinarova-1 continue to be encouraging, then the upward revision of the share price could well prove to be impressive.

Could we see some money transfer out of some other AIM energy stocks and into UKOG?

Far from all appear to have lived up to PIs' expectations.

1/ Given these encouraging observations, it has been decided to conduct open hole swabbed flow testing over the zone between 293 and 400 metres drilled depth. Preparations for testing operations are underway.

Following testing operations, which are expected to run over the coming weekend, ...

It should be noted that the end of Ramadan, Eid al Fitr, occurs tonight, Friday 21st April 2023, and may affect operational timings over the coming weekend. (RNS 21/04/23)

2/ Pinarova-1, located 6 km north of the Basur-1 oil discovery, is designed to test a working hypothesis, supported by well and seismic data, that the active 41.7° API light oil seep found last summer in a seismic shot hole above the Pinarova structure, is directly fed by and connected to an underlying light oil accumulation of some 9 km(2) areal extent within the Hoya limestones, lying around 300-645 metres below surface (see RNS of 11(th) January 2023 and 30(th) June 2022). (RNS 18/04/23)

3/ If the shallow play is successful here it will be followed by a second shallow well in the year ... (p15 of AME's 2022 annual report)

Both UKOG's Nicholas Mardon Taylor and AME's Cem Sayer sounded confident about the prospects for Pinarova-1 in their respective recently published annual reports

The former wrote this: "Many of the world's original oil fields were found by drilling beneath oil seeps so it's interesting to see that such opportunities still exist if capable people scratch away hard and long enough".

The latter wrote of a "... potentially game changing exploration play which will be executed in 2023".

It look as if the market in general has been largely blindsided by developments in Turkey and has only now begun to catch up with the implications of what those involved have been saying.

True, dilara, good point.

In the past, we've seen 100%+ moves in a day in UKOG's share price, so yesterday's volume of 4.8bn shares was impressive but the share price gain of 36.!%, most welcome as it was, less so.

For long-term holders, the hope must be that UKOG's protracted share price decline and subsequent flatlining meant that many PIs pressed the sell button way earlier than they should have done.

Doubly positive:
1/ removal of an overhang;
2/ in order to pick up the line of stock, the buyer was prepared to pay a premium to the market.

Break through about 0.16p and its the 2-year graph which will become the relevant one.

Break through about 0.25p and it's the 3-year graph which will become the relevant one.

In terms of its ownership, the UKOG of next Monday will no longer be the same UKOG as that of 7 am this morning.