Member Info for ocelot

What SS calls "rapid monetisation", Genel's Bill Higgs calls "velocity of capital".
In Iraqi Kurdistan, some of Genel's wells have paid for themselves in 3 months.
A successful campaign in Turkey would, in that much over-used word, transform UKOG's cash flow profile.

Further to a recent favourable meeting with the Turkish licence regulator, GDMPA, we understand that the AME/UKOG application has now been passed to the Turkish government for approval. At this stage, whilst indications are positive, we await formal notification as to which licence or licences, if any, are awarded to AME/UKOG. Notification is expected within 60 days - results and terms will be released in due course.

yes, next year should be a better one (difficult for it to be any worse!).

https://www.londonstockexchange.com/news-article/UKOG/application-for-3-new-turkish-licences/14787300

Agree, Mirasol,

There were high hopes placed in the Weald basin and in the Kimmeridge and, as far as I am concerned, not without justification.

To this day, the Kimmeridge remains an enigma, but, unfortunately, for obvious financial reasons, it has ceased to be a priority.

Don't agree, brig0d00n,

1p = a market cap £62m - I am hoping for more than that and believe the potential is there to exceed that very comfortably.

perhaps consider that AME were so keen to drill this well that will pay for itself so quickly and fund another that they have passed all the risk of this appraisal on to UKOG, and getting them to share the cost of any further exploration.
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Penguins, I'm sure this has been discussed before on this board, there is nothing at all unusual about an oil explorer spreading exploration and appraisal risk across partners.

Again, I'm sure the potential unreliability of initial flow figures has been raised by yourself very many times on this board, so I doubt that any regular readers of the board are not aware of this.

It's way too early to speculate about results in Turkey, so, personally, I shall wait and see ... and hope for the best.

Every day, in every way, prospects for Alba are getting better ... and the pilot plant and assay results are getting closer.

PS: the application for the 3 additional licenses is evidence that UKOG and AME are already working in close partnership.

The Basur discovery, made in 1964, whose primary target was the shallow Cretaceous age Garzan reefal limestones, recovered 600 bbl of oil to surface from deeper naturally-fractured and dolomitised Cretaceous Mardin limestones. Core and cuttings contained live oil. Of the oil to surface, 500 bbl were produced over a 6-hour test period, equating to an extrapolated rate of 2,000 barrels of oil per day ("bopd"). (RNS of 23/07)

It certainly looks as if UKOG and AME are justified in wanting to follow-up and see what they can find and produce.

As to the final flow figures, it is too early to speculate, so let's wait and see.

Troll is just making stuff up - UKOG haven't even mentioned these new licence applications ...
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But AME, UKOG's 50%-partner, has.

Between 16:04 and 16:12, Cem Sayer says they've applied for 3 near exploration licenses in the last week (in relation to 26/11), which are clearly marked on the map showing at that time: M47-b3, M47-c1 and M48-d1, (the Resan farm-in exploration block is shown as M47 b1, b2)

https://vimeo.com/484469344

What is extraordinary is that there has been no follow-up at Basur or Resan since the 50s and 60s, despite all of the discoveries made in Iraqi Kurdistan in the meantime:

Both Basur and Resan were drilled before the potential of naturally fractured Cretaceous limestone oil reservoirs was fully demonstrated by the giant fractured Cretaceous limestone field discoveries made in the same petroleum system within the Kurdistan region of Iraq including Taq Taq, Tawke, Peshkabir. The giant Kurdistan discoveries were made after 2002. (RNS of 23/07).

Think GL has a long-range vision for Angus, which is very much in line with the government's net emissions target.

(For UKOG, it's, above all, a question of a successful Turkish campaign).

Think the spread means the market makers are wary of what could happen to the price in the current thin trading conditions - it wouldn't take much buying to hike the price pretty abruptly.

Best wishes, Majorboy.

From the operational update RNS of 21/08/19:

Limerick Base Metals Project

Following completion of a drill programme at Limerick, it was announced on 18 June 2019 that while no visible mineralisation was intersected, favourable geology was encountered. The drill core has since been subjected to detailed examination, including by hand-held Niton analyser, however as anomalous values were not detected, it was decided not to send the drill core to a laboratory for assaying.

The Company will consider further drilling to the north of the licence, in proximity to historic drill hole TC-3824-003 which intersected a mineralised zinc section.

It's between 16:04 and 16:12 that Cem Sayer says they've applied for 3 near exploration licenses in the last week, which are clearly marked on the map showing at that time: M47-b3, M47-c1 and M48-d1, (the Resan farm-in exploration block is shown as M47 b1, b2)

https://vimeo.com/484469344

"These appointments are indicative of the Alba Board's determination to keep pushing Alba in the right direction and to strive for excellence on all levels, both in the quality of our projects, in our technical work and in the depth of our management team."

The ambition is there, along with the range of projects.

Alba is shifting up a gear.

Aquis is vying with AIM today:

35 trades on Aquis, 44 on AIM, 7.2m shares on Aquis, 10.7m on AIM.

Turkey looks promising, but, of course, remains to be proven.

Would expect the share price to rise as operations in Turkey get closer and would not be surprised to see the next placing well-received, providing placees with an opportunity to get in ahead of further progress being made.