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I don’t think the flow rates are bad at HH1 and if they are increased to say 400/ 500bopd - surely the market will like that? I assume (apart from the macro environment) HH2 issues has led to the fall in SP coupled with the death spiral financing?

When is this planned? In the June rns it highlighted work to maximise the flow rates in the Portland layer. Is this well capable of 400bopd?

Skwizz - you actually seem like a decent chap

Not trying to ramp this as I am not quoting anything that is not in the public domain. Maybe I’m best sharing research elsewhere as there seems to be little interest in any future success of ukog. Gl

You know what I mean lol. Does SS respond to investors emails?

Perfect sense that

Like I have said you have all had a tough ride. The macro environment has not helped the case. That’s not to mention a convertible loan and no operational activity. This spells out why there has been a degree of sp decline. Activity is now on the horizon and that’s a factor that will attract new investors. Hopefully any funding now will be spent in the ground and placings are a part and parcel of aim and that’s what we need to be used to. I expect a raise in October to fund turkey (when Turkish government signs off the deal). Hence why there should be some support at this share price......investors are going to speculate. Unfortunately existing investors have 3 options (1) sell out and move on (2) accept the paper loss and where possible average down to make future average achievable (3) do nothing. I have be caught previously on a share that fell for 12 months, I can say it was a horrible experience. Positives I can see is activity, drilling, production increase, debt free, oil price rise. Negatives a ceo that’s all over the place but I am sure nobody moaned when Ukog was £400m market cap. I am happy to hold and see this as very speculative but 0.4p is possible this year with a little luck

Nomlungu. That’s understandable to be honest. It’s looks to have bottomed at 0.18 and I think there is life in the old dog yet.....I’d rather see newsflow to see price activity

Does not sound fun with all the negativity. GL

Time to sell up and move on maybe ohmetoe

Lol don’t see 2p

Ohmetoe. 5 weeks ago was talking about 1p. I hope we get something positive here as it sounds like it will be welcomed. 0.2p seems too low for fair value here

By the way happy for a positive and negative debate as all things have 2 sides

The Horse Hill-1 well (HH-1) continued producing at high rates of over 300 bopd almost continuously during the period. Post period a higher capacity and energy efficient linear rod pump was installed on HH-1, leading to increased production from the Portland interval. As of 29 June 2020, 113,143 bbl in total has been produced from Horse Hill.

What ever will be will be here. I assume you are on the sell side. I can only assume there are some big backers as that would have been part of getting the turkey assets.

The recent rns state 300bopd and not 300boepd. The best chance of success is 37% and about as good as it gets with exploration

Pericles - UKOG seems to be way oversold. The market forgets HH1 is producing over 300bopd. The management have made a pickle of matters but see a correction in the near term and that’s not to say Ukog will be successful over the long term. Turkey will target a 200mmbbl well and I’m pretty confident on a drilling campaign the Ukog market cap will hit £50m as these drill are high impact. Even if they raised £5.5m at 0.2p that’s 13billion shares in issue. Based on my conservative figure of £50m that still a 0.4p share price. Personally I think the raise will be above 0.25p and they will workover hh1 and sidetrack hh2 and drill turkey. Do you think the market will take well to this????

To clarify placing in a few months after farmout confirmation in turkey. Ukog won’t have any issue raising funds

It looks like Ukog was around 0.4 at the peak of the pandemic. Not any form of substantive rise primarily due death spiral, lack of activity, oil price lows, placing etc. The forward plan might get exciting and draw in the high volume we was once used to. The company is now debt free, commercial discovery at horse hill, workover planned, planning committee hearing due in September (out come unknown) and turkey prospect does look very exciting. Further funds might be required but we are now in a higher oil price environment- I personally see a placing at much higher levels in the coming weeks. Ukog is a very liquid stock and it’s a given that sp activity is on the way

It was around 1.30 today. Got a few £10k buys then the shares dried up and took a £15k....ask started to move up