Probably cash from those who've got out with a profit from Angus hoping for another bit of luck. The 'MMs' having seen it all before, saw them coming with their pockets full of their gains and upped the ask.
Of course UKOG could put out another instalment in the perforating guns saga - but as for 'Big seller out (150m trade yesterday). MMs free to take the sp back up now.' - I think that most will realise who the 'big seller' is and that they aren't anywhere near 'out'.
They will probably want to drag the price down a bit further as I suspect the best recent vwap is from last week on Wednesday at about 0.0216p - that may be slightly out but at best there would be slim pickings from the sale price of 0.0215p,
There were also the 4 35,000,000 trades today - looking like 2 buys & 2 reversals by the share volume being negative for two of the trades - though on A***N they don't 'do' negatives - more shenanigans.
But it looks like the bid is being held down vs the ask - even with a £10,000 buy - so does someone have plenty of shares that still need shifting.
But you've pasted your bullying posts.
If anyone needs help it's someone who's obsessed with coming onto a board he's banned from day in day out to abuse, smear and lie about other posters.
'You bunch cowards couldnt fight yourselves out of a wet paper bag in the real world'
'nomlungu getting upset her weak little activist gob ****e online bully ninetails is getting some back lol!'
Is this reasonable language - it certainly demonstrates that what ninetails is posting is just run of the mill abuse by you.
As for bullying:-
'You all mouth. And your activist friends have dive in to help you as you are to week and stupid to do do so'
Bullying language and again assuming others do as you do - 'your activist friends'.
and whilst Ninetails rings true as an oil worker on an offshore installation you don't ring true pretending you're not Adrian - you just look more and more desperate.
Adrian,
just because you and your 'mates' got together to decide what would be posted about what was happening at Horse Hill not everyone acts in concert.
perhaps your anger at them when they broke ranks gave the game away.
'Adrian The Fool on The Hill@davethedrill1
May 12, 2021
Replying to @davethedrill1
#ukog I can just see SS Rope a dopes Tony and Pete aka @WealdOilers
aka Mirasole/Pboo on LSE and Bigdaddy99pIan taking part in an open off. Thick as mince and love losing their hard earned by handing it over to Sando.'
but these different opinions certainly proves that these posters don't.
This board is for discussing UKOG and their activities / projects, and non-banned posters posts are still there to see how right / wrong they are. Whereas your BS is gone - and on twitter you can delete posts, but then:-
'Adrian The Fool on The Hill@davethedrill1
Jun 24
#UKOG Those perf guns can't be far off in Turkey. SP low. Time to load up.
Adrian'
can't be far off in Turkey, on June 24, nearly 6 moths ago.
Seem to remember ZYX saying it could be months when UKOG announced seeking 7" perforating guns.
You obviously have very low standards, or are that desperate you'll support anyone as long as they're 'positive' - a bit like ocelot who once upon a time seemeed a bit less desperate, but then he's been 'positive' regardless of the reality of UKOG's projects.
But you're 'mate' is a nasty piece of work. He knows he can post what he likes and can lie about and bully other posters who prefer not to have to set up new accounts daily or even more often to respond in kind.
This is my post from a recent reply to Adrian repeating parts of posts (of course now deleted) by Adrian:-
'Adrian 15 Dec 2023 23:09
Not surprised your 'X' campaign for re-instatement on LSE isn't going so well.
'I dont like youPingu. Seriously dont like you. Go fek yourself AH.
Clear enough bird brain? :)'
'Penguins.
I wouldnt give you the steam off my pxss let alone my trades.'
Nice, and a merry xmas to you.'
Adrian's comments came after he was claiming he'd made a buy of 0.021p last Thursday but was unable to say how many shares he'd bought when he boasted about buying at 0.021p last Thursday, 14/12 and then sold on Friday. He got very agitated, not surprising as during Thursday trading there were hardly any trades at 0.021p, and those that weren't at the bid (ie definite sells) were for just a few pounds.
I would be ashamed of being associated with, let alone defend, someone who posts and tweets this sort of bile just because he disagrees with my opinions of UKOG's projects.
Funnily enough, over the years, those opinions have been far closer to the outcomes than UKOG's predictions, and those that repeat their PR - though it's noticeable that for Pinarova they're coy about what the outcome might be - just a suggestion that a positive outcome might be encouragement to waste more money poking around in the Resan licence (RNS 22/9):-
'With this in mind, should further testing be positive, consideration is being given to the acquisition of a small 3D seismic programme to identify a possible deeper oil pool, seepage/spill from which being the most likely primary source of both the seep and Pinarova oils.'
To translate:- We haven't a clue where the oil in the shotholes came from, but we know it wasn't the Hoya amplitude anomaly even though we haven't mentioned that was dry, but we'll persevere anyway (not our money we're spending) and therefore keep pretending that the shothole oil must have come from somewhere around Pinarova, and hope no one asks whether the E Sadak oil is also similar.
Not surprised your 'X' campaign for re-instatement on LSE isn't going so well.
'I dont like youPingu. Seriously dont like you. Go fek yourself AH.
Clear enough bird brain? :)'
'Penguins.
I wouldnt give you the steam off my pxss let alone my trades.'
Nice, and a merry xmas to you.
No,
sometimes it's a waste of time pointing out the reality of the projects when the pump and dump brigade arrive - I've often posted that the share price is unpredictable - it''s the projects I post about, not the share price and just because the perforating guns are now fully permitted won't make any difference to the minimal chance of any 'success' at all, seems you agree, or maybe you like many were fully aware the SP would drop back and you'd be able to buy back in.
But still can't remember awhich was your 'buy' at 0.021p - strange when you seem so sure you made a profit?
As it is the profit on the shares you were keen to boast about bought at 0.0329p is what exactly?
'Adrian The Fool on The Hill@davethedrill
Oct 3
#UKOG Bought in at 0.0329. We should hear a decision from The Supreme Court soon.
Theres a 👜 from here if SCC win.
Swampies running a mock as usul on @LondonSouthEast
FOTH'
Maybe couldn't wait for 0.0658p?
I'm pleased for almost everyone making a profit on UKOG - those that profit by lying, not so much.
Jojohummer,
perhaps you'd like to identify which buy yesterday was yours?
To make money you do actually have to buy some shares, not imagine it.
Seem to remember someone boasting of a buy at 0.0329p - was that you? as this account was started today and it's after 5 o'clock when admin go home?
Ocelot,
Strange that you would expect anything other than some enthusiasm from AME and UKOG for a well going to be drilled by them.
However this from the AME 2022 annual report doesn't sound that excited:-
'The only exception will be testing the Resan shallow accumulation. Not only will these wells be quick and cheap the costs are carried by our JV partners and if successful would be a first in the region.'
and the target concept has already proved a dud:-
'Additionally, after identifying near surface amplitude anomalies associated with positive indicators from post-stack seismic attributes on one of the legacy 2D seismic lines running across both the shot hole and the geothermal well, shallow amplitude play concept has been developed.'
........and anomalies on post stack data are not hydrocarbon indicators - as Pinarova has proved
Even before drilling there was no guidance as to what 'success' might mean, and despite having drilled through the Germik a positive test (whatever in UKOG / AME's opinion that might be) will:-
'With this in mind, should further testing be positive, consideration is being given to the acquisition of a small 3D seismic programme to identify a possible deeper oil pool'
But it's interesting that they seem to have forgotten that they also sent a sample of E Sadak oil to be tested. Would thatbeing similar discredit the whole concept of association with the shothole oil?
'A sample of the oil recovered from Pinarova (as detailed above) along with samples of the 41.7˚ API oil recovered from the active seismic shot-hole seep (see RNS of 11th January 2023 and 30th June 2022) and 43˚ API oil from the nearby East Sadak field, have now also been dispatched to the UK for detailed geochemical study'
Ocelot,
'Great news!'
Be careful what you wish for - Turkey and Christmas - who'd a'thought it in May.
This from 2019, when ocelot was counting those Turkeys - but UKOG was about to smash the eggs on 23 December with 'news' of the HH-2z flows - and the routine intervention planned to shut-off the water source, unfortunately perhap predictably there was more than one. Still it kept the rampers happy for a while - routine they kept quoting.
'ocelot
Posted in: UKOG Posts: 22,882
Price: 0.925 No Opinion
RE: Sell at 40p+ 18 Dec 2019 20:47
Think it's more a question of cash flow than of P/E ratios, certainly for the present.
Healthy cash flow from the Portland horizontal should free UKOG from exclusive reliance upon placings and open up the path to alternative sources of finance, at which point the market can seriously begin to integrate the development of some of UKOG's other projects and re-rate the share price.'
Well the SP has de-rated though (if there is such a thing - it's currently about a 40th of the SP on 18 December 2019 - 4 years ago. The closing SP has never been above that price since then.........despite the ongoing wait for the initial test results from HH-2z, or perhaps because of?)
Of course I accept your apology - though if you had been right I didn't need to apologise this morning.
One last thing:-
'Retention and extension of an existing well site'- erm - that means enlarging the well site, you know the extra bit they were going to build that loading area needed for all those tankers coming to fill up in 2020/2021, nothing to do with:- 'extention penguins.tut tut. intresting though. so maybe ukog will sidetrack hh1 in the future.'
You're making claims based on what you want to happen, not what, from what has happened so far in Turkey,is likely to happen.
So far, after signing up to a supposedly 'potentially' transformational deal with AME who 'consider divestitures and joint ventures where the underlying values are not reflected in our financials', they drilled Basur-3 on a map that massively overestimated the size of the prospect. Then they shot 2 phases of seismic to find a location for Basur-4. Having found some oil in some shotholes they came up with a working hypothesis to essentially link this oil to an amplitude anomaly, that wasn't a DHI (Direct Hydrocarbon Indicator), in the Hoya (ie not Basur-4). This became the Pinarova well located near Kezer-1, a geothermal test that had flowed water with an oil cut in the Hoya, presumably AME and UKOG hoping the least they would get would be the same.
There were oil shows in the Hoya in Pinarova but a swabbed test did not return any oil but that wasn't in the anomaly section anyway. Belatedly UKOG RNS'd after TD was reached that there was an oil odour during drilling the Germik (above the Hoya) and, after drilling it when casing was set, emulsion returned to surface. Already cased the perforating guns used were too small and UKOG interpreted that the guns had not penetreted the casing - so 6 months later those guns are in the country awaiting shipment to the site.
Already UKOG are preparing the ground for failure with talk of a deeper accumulation at Pinarova being where the shothole oil might have come from.
No direct oil shows, just a smell, and a slick of oil from somewhere when the casing was set are not encouraging signs that the Germik will flow - not sure, apart from saving face or lack of understanding how long or how expensive it might be, why they've persevered with securing the bigger guns when could they have drilled slim hole to that depth again then been able to test it either open hole or with smaller casing in weeks and probably cheaper. Couldn't have been just to delay the bad news?
In the meantime YA / Riverfort have been busy making sure they don't lose. Still no RNS about the conversion price of the 1,424,487,652 second tranche equity shares they've been given. Today's vwap is about 0.0216p so just to show how profitable it can be to drag the SP down-
On November 14 there was a 60,000,000 sell at 0.02708p - value about £16,248.
OK small beer, but if they were to convert the shares they've been given at today's vwap the it would reduce the debt by £12,960 - meaning they would profit by £3,288 or about 25% - plus 4.5% added to the loan, and some warrants, price based on a different fomula.
Of course today's sale at 0.205 would have lost about £665, reducing the profit to about 20% +4.5% - and it'll be even easier for them to profit if the SP rises in the next 15 days with a guaranteed 'buy' price of 0.0216.
Didn't check before posting this post last night. Whilst the planning permission for HH-1 sidetrack and HH-2z isn't being challenged that permission only permitted the testing of the wells for 3 years. The ability to produce from the site is covered by the planning permission being challenged in the Supreme Court so I was wrong to post 'so your claims about not being able to continue using HH-2z and closing the site down if SCC /UKOG lose that case is BS.' - So apologies.
However the risk of the challenge succeeding is infinitesimally small so closing the site isn't going to happen and I still think the lack of activity because of the challenge to the planning permission is apologists BS.
I know Adrian never apologises for posting wrong and often nasty posts or tweets but accuracy and truth is important. It will remind me to check facts whatever time of night it is.
I hope you're right, didn't Angus get into trouble with the planners over what they were using a well for.
Pointless posting stuff about other permissions, I specified whether planning permission was valid to use the well as an injector - but if what you say is true UKOG therefore have undisputed planning permission to convert the well. The Finch case is about the planning permission for the extra wells and to do with the planning guidelines extant when it was being considered, so your claims about not being able to continue using HH-2z and closing the site down if SCC /UKOG lose that case is BS.
Thanks for posting that the well has all permissions and it's a permission not being challenged.
Just realised you do have an idea what a reasonable timescale of decline is:-
'The flow rates didnt drop off that quick. They dropped off over a few years. Thats natrual decline'
Natural decline - over years. Not down 66% in about 6 months.
Let's see where CT #1 production is in 6 months time, November average 161bopd.
'Ive had enough talking to shorts and swampies for one night.'
Maybe I've got it wrong and it's an Adrian parody account........best joke yet.
But surely you mean you've had enough of your posts being shown to be ridiculous - still you can go on twitter and lie about bashing other posters.........
You have no idea what a reasonable rate of decline is - and HH-1's decline was dire, and should be a warning to anyone believing initial rates will be reflected in production. Here's the first 7 months of production daily averages up to the workover in October:-
March - UKOG claimed more than300bopd
April 243.2
May 176.7
June 157.9
July 121.7
August 128.4
September 93.3
So down over 66% in about 6 months - yet you posted:- 'The flow rates didnt drop off that quick. They dropped off over a few years. Thats natrual decline' - you said it, years not months.
As for a win in the Supreme Court does anybody think UKOG (well SCC) will lose? I've not seen a single post even saying they might.
But I doubt Pinarova will be a commercial success - though UKOG might claim recovering a bit of oil is a 'success' (it wouldn't be).
MacDonalds didn't already have a restaurant selling burgers there did they, whereas UKOG has a well site and valid, not disputed, planning permission for a sidetrack off HH-1, and HH-2z. No need to do anything but request a change of use of HH-2z to an injector - which maybe they need to do anyway, and if not why haven't they done it?
Just you, just you.
looooooool imo
Have you considered that you are wrong? Have you not noticed how often what UKOG claim doesn't happen and what those you tell stories about get it right?
You now seem to have taken on the role that wizard had of being an apologist for UKOG - nothing happening because of the legal challenges - but it makes no sense delaying water injection which would be a pretty quick 'win' - and no takers soon after the Loxley farm out after the high court decision in UKOG's favour.
That those oil experts you make claims about are in fact experts in their field not greens or nimbys. That the analysis that's posted here that's different to what UKOG tweet and RNS is accurate - and what UKOG RNS that you repeat is biased - because it's their choice of which interpretation they're going to tell pi.
Nevertheless there's enough other information out there, and understanding that and analysing the factual information that UKOG do RNS leads to the conclusions posted here.
Yep horizontal wells in a lot of situations work well but HH-2z is a good example of what can happen when you drill horizontally in a fractured field where those fractures carry water. So will they risk a horizontal well in the Portland near to the bounding fault, and as for the Kimmeridge perhaps you'd like to consider that RPS calculated only 1.6mmbbls 2C resources in the Kimmeridge and why UKOG chose to keep quiet about it for 21 months and have never commented on it or given any details.
The Kimmeridge may be huge but very little oil wants to come out of a source rock quickly, geologic time, not production time. It's what's in the fractures that might come out - Niel Ritson said it years ago at the 2018 Investor show (before the Kimmeridge ewt):-
'Now these are fractured reservoirs and they will have been offloading the oil from the fractures. What we are going back in this year to establish is if you leave them open for a period of time what is the sustainable rate, which you would expect to be down in the 100 to 200 barrels per day range if it's going to be commercial'.
Funny thing is you say 'HHDL wanting to drill and produce' when that's precisely, even (according to you) after the challenge is defeated in the Supreme Court, what they are not going to do - seems you need a suspension of belief to think that HHDL decided that it wasn't worth drilling a Kimmeridge sidetrack, dual completing HH-1 and didn't bother to drill and log the Kimmeridge, because it was going to 'gush'.
Perhaps the report from RPS in June 2019 had something to do with not doing anything more with the Kimmeridge UKOG have only ever referenced this report in the table of Contingent Resources (as a footnote) since 2021, 21 months later - and those 2C resources (not even reserves) are not billions, not hundreds of millions, not tens of millions but 1.6mmbbls - and that might be from multiple wells.
Kimmeridge huge - not really - as for no raise here - there's another £500,000 of CLN coming in February - and there's agreement for another £2mm if UKOG want it. By then they'll have to have consolidated as the nominal value of shares looms - 0.01p.