Member Info for ocelot

If you think that, Primula, shouldn't you post your opinion as "strong buy"?

Am looking for a considerably higher share price than 1.5p this year and, indeed, within a shorter time horizon than that.

For myself, the key point is that all of this can happen very quickly:
1/ drilling site construction began on 23/03 (or, maybe, a little earlier, given the first photos shown): planned to be completed within 60 days;
2/ drilling has to begin by 27/06 (RNS of 23/07/20);
3/ SS has spoken of a 30 to 60-day well;
4/ in the event of success, the well becomes a production well, without all of the bureaucratic delays encountered in the UK.

Think it's a long-term buy and, as of now, a short-term buy!

After the 1st well and seismic, yes, costs will then be split 50:50 with AME.

Turkey itself will require more funding, but not a large amount.

If we take the the top figure of $5m for the 1st well and seismic, at, say, 1.375 that is £3.6m, of which £2.2m was raised in the last placing, leaving a balance of £1.4m.

To justify a placing, they will doubtless raise more than that, but it doesn't look as if the next placing needs to be a large one.

In the audio recording, SS also said of the UK projects that they are "b****y good" :-)

Wasn't specified, wizard. "This is a 30 to 60-day well".

In that audio recording, SS also says that "this is a 30 to 60-day well".

wizard,

In the audio recording of your post of 22:15, SS speaks of the "premium" paid by UKOG as being $2-2.5m.

The premium is the amount over and above UKOG's 50%-share.

So a premium of $2-2.5m reflects a total cost of the 1st well and seismic of $4-5m or, at say 1.375, £2.9-3.6m.

We also await news of the partners' application for 3 new licences (RNS of 10/12/20)

Not many predicted the first buying frenzy, so I wouldn't worry too much about that.

wizard,

If all goes well, it looks as if Turkey could be the source of almost continuous news flow for quite some time:

Given the relatively modest well costs, it is expected that a near continuous drilling campaign could be undertaken to ensure the Licence is fully evaluated and that oil recovered to surface can be monetised as rapidly as possible. (RNS of 23/07/20)

We've already seen how quickly this share can move: it multiplied by 3.2 times between the close last Tuesday, 06/04, and the high last Friday morning, so in a bit more than 2 days' trading.

Agreed, but there remains a balance to be funded.

Estimated cost of a well: $3m. Estimated cost of seismic: $1.5m. Costs of 1st well and seismic, 100% UKOG's, capped at $5m.

For every buy and for every sell there is a market maker on the other side of the trade.

Opinions seem to be divided about Alan2017, I put him on filter when I realised his posts seemed to contain the same archival material all the time.

“Turkish people like stable assets due to our history of high inflation,” Özgür Güneri, CEO of cryptocurrency exchange BtcTurk, told Reuters. “That is why generation after generation of Turks invested in gold, real estate and dollars.”

And UKOG offers them an opportunity to invest in $-denominated oil and £s.

So why not find another stock to invest in?

contains aerial photo of the 10 metre high dump:

https://www.rns-pdf.londonstockexchange.com/rns/2188V_1-2021-4-12.pdf