Member Info for ocelot

PEDL234 Loxley drilling commitment deadline extended by two years

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that the Oil and Gas Authority has granted a two-year extension to the time period in which the Company's 100% interest PEDL234 Loxley-1 gas appraisal well must commence. In order to satisfy the licence's Retention Area programme, Loxley-1 drilling must now commence before 31(st) December 2023.

Turkey Basur-3 drilling rig mobilised to site

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that following completion of the Basur-3 appraisal well's drilling pad and finalisation of the rig contract, the Oceanmec Karahan ZJ40DZ rig has now been mobilised to the site from western Turkey. As of 2359 hrs on Saturday 19(th) June, 38 related loads had been received at site. The rig-up and rig-acceptance stage is expected to continue throughout the coming week with an expected drilling start shortly afterwards...

No, we await updates, but there's a lot of work to be done: new management to be appointed, accounts for the new company to be produced, ...

That was unexpected. It seemed to be, above all, money coming out of 88E and looking for a new home.

I've nothing to do with PR.

Lucky-Strike, the constant bashing is tedious but you are accustomed to seeing it on another board we both frequent and I suspect it is a phenomenon common to a lot of these boards.

UKOG's history has been a chequered one, to put it mildly, but it HAS come down a very long way, is valued at very little and has the Basur-3 drill in Turkey approaching in the very near future (which does need to be funded in full, of course, when needed) + the Loxley inquiry towards the end of July.

Remember Rodders Jones has shown us all that the naysayers represent about 6.5% of share capital.

The conclusion is obvious, that the enormously negative bias of this board's posts do not reflect the opinion of the silent majority of shareholders, about 93% of whom voted in support of management's resolutions at the GM.

Ninetails,
Have no idea what oofyprosser posted, have him on filter.
Given the quantity of negative posts on this board, it does no harm at all to post an alternative point of view and let PIs judge for themselves (which they will do anyway!).

Changed my mind, unfiltering Ibug.

Time I filtered you, Ibug - it was a simple enough question.

So you are not invested now but may buy in at some stage, is that what you are saying?

AME is the operator 100%.

"Looks like your last 3 drills didn't go so well at UKOG". Does that mean you're a non-investor, too?

Ibug,

In all logic, what have UKOG's last 3 drills got to do with AME's drill at Basur-3?

not been mentioned on the board, but the last question (from about 28:00) concerned waste to energy:

"not impossible" there will be some announcements in 2021, given where discussions are currently.

Should perhaps add to my previous post: am looking for the share price to rise for other than pump and dump reasons, but also consider the share to be considerably oversold at the present time.

Not a trader, so am looking for the share price to rise for more solid reasons than simply a pump and dump.

In UKOG's favour, amongst other things, are:

its very low current price, which assumes it will repeat past disappointments and, therefore, makes no allowance for prospects in Turkey (or, indeed, at Loxley);

the vast quantity of negative opinion posted on this board, which suggests the share price is, technically, well-positioned for a rebound.

... 'positive' posters seem to shy away from communicating what a 'good' successful outcome would be, preferring to refer to charts and previous share price movements or a SP at some unspecified time in the future.
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Agreed, a "good" outcome will be measured in terms of the share price performance.

Seems the 'naysayers' also exist beyond this board.
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Thanks to Rodders Jones, we know naysayers represent about 6.5% of share capital (the GM showing support for management's resolutions of about 93%).

But, until Rodders Jones presents a slate of alternative management candidates and an alternative management strategy, the support for his current proposed resolutions doesn't mean very much and is simply a way of registering a kind of protest.

... Turkey also been 'overblown' with expectations probably far higher than the likely outcome, ...
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Penguins,

The share price doesn't agree with you at the present time.

For those of a contrarian disposition, one of the major factors in UKOG's favour is the sheer quantity of negative opinion against it.

When so many people seem to think alike, then it needs very little positive input to swing things around dramatically.

The current share price assumes that because UKOG has failed in the past, it will fail in the future.

But each project is different and needs to be assessed on its own merits and prospects.