Member Info for ocelot

Ibug,

If you are pretty sure it is coming, then you have discounted it!

The drill is underway, the Loxley appeal inquiry begins in a month, on the 27th July.

A fundraise is coming, but that has been discounted by everybody and his dog for the last, several months.

Will some Turkish investors participate in the placing (when it comes)?

UKOG's UK assets are not currently valued at very much, so UKOG has the potential to become an almost pure Turkey play, in the event of success in SE Turkey.

Some of the naysayers foresaw problems for UKOG at the GM, they were wrong.

Some of the naysayers anticipated a placing before the spud, they were wrong.

Some of the naysayers foresee disappointing results from Basur-3, will they be wrong again?

For the present, at least, it looks as if the market had largely assumed the partners would respect this Saturday night's deadline, which simply goes to show again that the posts of rampers and derampers on this board are largely irrelevant to what the silent majority of shareholders think and do.

WH Ireland, UKOG's Nomad, observed that the company's centre of gravity is shifting towards SE Turkey.

They are being enterprising and entrepreneurial, here's hoping their efforts are crowned with success.

That's the highest rating in a very long time:

https://www.barchart.com/stocks/quotes/UKOG.LN/opinion

50-day moving average: 0.218p

The authorities can see that the partners have respected the schedule for Basur-3.

Wonder if this will help with regards to the 3 new licences for which the partners submitted applications.

Well done, all of the team!

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that following formal acceptance of the Oceanmec Karahan ZJ40DZ rig at 1700 hrs BST+2, Saturday 26(th) June, air drilling of Basur-3's initial 17 1/2 inch diameter hole section commenced at 1818 hrs local time...

UKOG still needs outside capital, of course, but it is no longer eating it up as we had come to expect over the last several years.

Penguins,

You say you are interested in the technical side of E&P, but you only post on the one oil share, UKOG: what is the special attraction UKOG holds for you?

Not an oil expert myself, so not qualified to discuss the technical side of oil exploration, my interest lies in the market.

Believe the disappointments of the last few years have depressed the share price to a level where a significant recovery has become overdue, believe Basur-3 may well provide the trigger for that recovery.

Given all the restrictions on overseas travel, maybe you're not missing too much on this occasion!

Ninetails,

Wasn't it today you were heading out to your platform?

Best wishes.

Penguins,

I remind you that were negative on UKOG at 0.80p before it rose to 11p and took a further 2 1/2 years to arrive back at 0.80p.

Of course, timing is important in the market, little money is made by being right in the longer term if you've been wiped out in the short term.

UKOG is no longer at 0.80p but at 0.205p, the reward/risk ratio is skewed more favourably, as always, we shall see how things develop in the future.

Penguins,

If you want to be negative, you will always find something to be negative about.

If UKOG hadn't bought its way into the licence, you could have argued that the licence was obviously worthless because AME hadn't required UKOG to pay any premium for its 50% share.

Let's see how things develop, it all seems to be progressing as planned for the present.

SE Turkey isn't the Weald basin, AME is UKOG's partner but isn't UKOG, not sure about that al all, HeidHoncho.

The past is the past, it is future prospects that interest investors.

Obviously it's easy to fool those that are desperate to believe, it's worked for years, why stop now.
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Some see things half full, some see them half empty, that's life, as Frank Sinatra would sing.

If UKOG management appear to have become more market "savvy", it's at least in part because they have become less dependent upon the market.
The last placing was nearly 9 months ago and was for the relatively modest amount of £2.2m.
Outgoings have come down very sharply, SE Turkey is a much less expensive region in which to operate than the Weald basin, partly because of the much-reduced cost of the regulatory burden.
If flows remain modest, the oil price, on the other hand, has picked up very convincingly during the last year.