Member Info for oilriches

What have Ukog got to move the SP near term?
(1) loxley planning meeting alleged to be the 17th of September. Sp hit 0.5 last time for this meeting.
(2) turkey farmin confirmation from government and planned drill potentially by year end.
(3) HH1 enhancement / workover to attempt to enhance flow rates. Currently 300bopd.
(4) decision on HH2 - be it sidetrack / workover or be used as water injection well.
(5) daily trading volume growing day by day towards planning meeting. Expect this to continue next week.

Penguin - most of the countries in Africa and Middle East etc have a state oil company. Let’s see what happens in the near term

Penguin. The anatolian licence is also in trend with Kurdistan and Iraq. This is not wild cat drilling and we know the licences contain oil...question is does it flow at 1300bopd like a nearby discovery. The size of the resin licence has been evaluated using existing well date and the 2D will further define this. Prospectivity is excellent but like all oil exploration and appraisal.....it has its risk, hence why it’s always prudent to derisk. I think the negativity from some will be wiped away when the party gets started here. Like I say volume in the stock is key now

Thanks for the reply exploration. It seems the market has not got its head around the turkey deal. Are investors now working this out with near term activity?

Need to raise ASAP as if oil falls back so will the market cap. Right mess this company has become.

Bulent. I am very positive about the short term in Ukog but £1 per share? Seriously? There is ramping and somebody that struggles with maths. It’s only a 500 bagger

£350k traded on Friday. Volume is the key indicator on where this is moving.....I won’t pay too much attention until this is breaking the £500k traded a day (if it happens). There has been persistent selling over the last few months. Are the sellers out? That’s the question.

Exploration- good info. I think turkey is very interesting and may just turn out to be a good move by Ukog. Say the Ukog market cap is £30m (fully funded for drilling). I can easily see an £75m plus market cap pre any drill results. I.e 150% rise from original position. To hold investors risk doubling up again or being wiped back down to a £20m market cap. Risk v reward here looks very good

Agree. I cannot see shell progressing with Pensacola as the chance of success is very low and the target is fairly small for shell. Selene looks a runner as chance of success is v hight and benefits of shell linking into existing platform to bacton.

https://www.yenisafak.com/en/columns/yasinaktay/erdogans-announcement-has-ushered-in-a-new-era-for-turkey-and-the-world-2047566

Big gas discovery now opens up the country for independence to be self sufficient. Looks like Ukog have done a great deal to get into an oil rich country at the right time.
https://www.yenisafak.com/en/economy/gas-find-turning-point-for-turkey-parliament-head-3537359
https://www.aljazeera.com/ajimpact/turkey-finds-energy-black-sea-erdogan-promises-good-news-200819202819586.html
https://www.ft.com/content/3c3d1600-1001-4239-9f97-c65ec94e8ac5

Been watching these but not investing until it’s clear that shell are going to drill a well. Shell have been deferring projects in the North Sea for development....not so sure this drill commitment is going to happen

Turkey is over 300,000 square miles where uk is only 100,000 square miles. Since 1965 the uk has drilled 4,000 wells

There are loads of discoveries. Transadlantic oil is within the SE basin and are focused on the billion barrel potential in shale oil....they have struggled getting commercial production at current oil price but not used western technology to enhance flow rate. The turkey venture is opportunistic and a bargain for a country entry of $2m. Oil is a risky business but plenty will be buying Ukog on these drills. The key is to derisk prior to any results

https://m.youtube.com/watch?v=0puK53U5Uvk

“ The Licence lies within the SE Anatolian basin, a geological continuation of the prolific Zagros "fold-belt" petroleum system within the foothills of the Taurus-Zagros mountains in Iraq, Iran and Turkey, one of the Middle East's major oil producing areas. Multiple producing oil fields lie to the immediate west and south east of the Licence, containing significant proven recoverable reserves.”

To clarify you said no large finds near Ukog acreage......that’s not correct.

Penguins - I don’t think the statement on large finds near UKOG acreage is correct. Check out oil discoveries in the Anatolian basin (same as Ukog). I also suggest you have a look at the unconventional opportunities not mentioned by Ukog.....the figures are multi trillion tcf gas finds. Having such big reserves does not mean it will be commercial but poking a hole in the ground in an oil rich province is a great start.

How can you publish a cpr if there is not sufficient information on the field? Why do you think they are going to shoot 2D? To find targets and extent of reservoir. Mirasol....I did thing u put up a balanced and rational argument.....The last post clearly shows u are anti UKOG and don’t understand the oil industry. I work in oil and gas industry for starters

I was getting quoted 0.218 to sell £10k worth. Any positive news now will create some excitement all holders deserve (particular the long term holder's)