Member Info for ocelot

Trump imposes new tariffs on Chinese trade.

JayKay1,

Nobody is denying the delays, but the starting-point is NOW for stating that "a marked acceleration in UKOG's cash generation is a short-term prospect".

Directors' buys tend to be one-day wonders, as far as the share price is concerned.

Far more important is for management to progress the company's plans as quickly and as effectively as possible.

Nobody is concerned about placings when they take place against the backdrop of a rising share price.

I, for one, consider today's RNS to be a comforting and encouraging one: a marked acceleration in UKOG's cash generation is a short-term prospect.

The test results to date also signify that after a year of production testing, the simple non-optimised vertical HH-1 well remains capable of continuous production from both Portland and Kimmeridge zones at an aggregate rate of 450 bopd (from UKOG's RNS).

450bopd is already about 2x the current production of either zone on its own.
If they succeed in trebling production from the Portland with the horizontal drill, that would amount to about 660bopd.
Adding in the Kimmeridge mid-point production of 233bopd would give a total of nearly 900bopd, about the quadruple of current production of either zone on its own.

The implications for the Alba share price are positive, imho.

gwilliams,

I cover myself by saying "If"!

The test results to date also signify that after a year of production testing, the simple non-optimised vertical HH-1 well remains capable of continuous production from both Portland and Kimmeridge zones at an aggregate rate of 450 bopd.

450bopd is already about 2x the current production of either zone on its own.
If they succeed in trebling production from the Portland with the horizontal drill, that would amount to about 660bopd.
Adding in the Kimmeridge mid-point production of 233bopd would give a total of nearly 900bopd, about the quadruple of current production of either zone on its own.

https://www.rudaw.net/english/kurdistan/010820191

Last trade below 1.40p was at 11:40.

And your conclusion?

It's not taking much buying to raise the price.
Is the selling drying up?

... Following a 5-month shut-in, flow rates and flowing bottom hole pressures appear more stable than during Phase 1 Kimmeridge testing...
"The resumption of Kimmeridge oil flow at more stable rates than previously seen is welcome news for the Kimmeridge's commercial future and further justifies the decision to conduct simultaneous Portland drilling and HH-1 Kimmeridge test production at the site...".

Interesting!
Earlier in the ewt, if you remember, it was the Portland that had exceeded expectations and the Kimmeridge that had met them.
It now looks as if their original expectations for the Kimmeridge were somewhat conservative.

39% increase, based on the mid-points of those connected oil volumes (9 and 12.5)

George Frangeskides, Alba's Executive Chairman, commented:

"We are pleased to receive this update regarding the successful resumption of Kimmeridge oil flow. This is very welcome news for Alba and its shareholders, and indicates that, as regards Horse Hill at least, the Weald Basin story continues to unfold very positively."

"We note that UKOG is planning further drilling soon, with the objective being to add significantly to the current aggregate rates of production. Naturally, we wish them every success in those endeavours, and will continue to monitor the performance of our investment at Horse Hill closely."

Have a good evening, my friend!

Wish they'd cancel the bout and put on something more civilised - sheep dog trials? Anything!

Reminder: from their site's Q&A:
WHY WAS THERE NO MENTION OF BINA BAWI IN THE AGM STATEMENT? ARE WE TO PRESUME NO AGREEMENT WILL BE FORTHCOMING?

“We gave a full update on Bina Bawi two weeks before the AGM. Productive talks with the KRG are continuing, and we are confident of a positive resolution.”

Half-year results on 06/08, next Tuesday.

It can be done, in most cases, but it does mean you have to look in detail at each individual transaction - who can be bothered to do that?

We've already discussed on this board today how "buys" and "sells" are determined.