Member Info for ocelot

I duplicated your post, Mullins (not for the first time!).

For some reason, I wasn't able to see this morning's posts until after I had posted mine.

"The speedy grant of drilling consent from the Turkish government further illustrates how oil and gas projects can be pushed ahead more rapidly and with more certainty in Turkey than in the UK onshore, a key enabler for value creation and preservation. We commend our partner Aladdin Middle East's efforts in this respect."

Terrible problems with the currency, because of interest rates which are insufficient to master inflation, make $ or £ investments for Turkish investors attractive, as Exploration said in his post.

Looks tempting, agreed :-)

Coming back to your original point, Exploration, if wealthy Turkish investors are buying into UKOG in order to obtain exposure to AME:

1/ it is pretty flattering for AME;

2/ given UKOG's current modest market cap, they can make quite an impact.

Exploration,

You are far better informed about Turkish business than myself - my knowledge is limited to what I learnt through Genel.

I appreciate your input on this board.

She is still on the board, as a non-executive director.

Not followed Genel too closely for about a year, but Karamehmet's daughter was on the board when I last looked.

Thank you for your information, Exploration - interesting!

Exploration,

There are some wealthy Turkish investors involved in Genel and they certainly seem to know what they are doing.

Agreed, Genel is not on AIM but I'm pretty convinced wealthy Turkish investors are capable of conducting their own research.

Not sure this provides an answer to your point, wizard, but it's taken from the original RNS re Turkey of 23/07/20:

Whilst the Company believes that at current oil prices (about $40 at the time) a successful initial
programme can likely self-fund further production drilling, it may be
necessary at some stage for the Company to raise future working capital to
bring the project to fruition

We await news concerning the partners' application for 3 new licences.

In his January video, SS spoke of seeking a "step-change in value growth".

That makes it sound as if the partners are looking to build up, over time, quite a portfolio of wells in South-East Turkey.

The last placing covered "initial" drilling and seismic costs, so, yes, a further placing is anticipated.

Given that it is to fund Turkey, it should be well-received, enabling placees to get in early (the price, size and exact timing remain unknown for the present).

Aquis (21.7m) almost on an equal footing with AIM (22.0m) in terms of volume so far, which is pretty healthy overall.

21m trade at 0.15p

... and, in the meantime, more loose holders have exited this morning.

The potential transformation that interests me is of UKOG's share price.

Given its current lowly market cap, it won't take much to go right for UKOG for the share price to gain some height.

Above the 200-day moving average of 0.167p, I thought there is room for a move up towards 1.10p and Zak Mir, in his comments of 31/03, showed a trend-line indicating a target of about 0.90p.

So 1p, plus or minus a bit, seems to provide a ball-park figure.

In the last furlong ... see you at the finish post.

• Wells on East Sadak have flowed at 1,300 bopd
from naturally fractured and dolomitized
Cretaceous Mardin limestones

The above is a quote from slide 11:

https://www.ukogplc.com/ul/Turkey%20RNS%20Slide%20Pack%20FINAL%20220720.pdf