Member Info for Penguins

Ocelot posted,

'Yes, have now filtered all of the principal activists on the board for the same reasons that one wouldn't seek a recommendation of a fine single malt from a teetotaller.'

Preferring to read the ramblings of a drunkard about an oil company and anything anywhere else that appears to be 'good news' - and repeat it here - is hardly sign of acumen.

Hahahahaha,

You only post weekends - and then your posts disappear. What a waste of your time.

Perhaps you need to have a look back at what you post vs what you seem to think you post.

Mostly claims you can't back up with any evidence - I'm afraid 'imo' is no substitute - mostly about other poster's and a few about UKOG.

I have, what you obviously don't, a life.

..and I don't say UKOG doesn't have any hydrocarbons - just not that much oil production - an average of about 50 to 60 bopd this year before July, and no sales gas at all ever - and you're the one that got confused recently about whether there was or wasn't a pump an any well during July. I haven't bothered to look - have you deleted your July 14th tweet?

There's certainly not enough production to support the current SP.

You'd better hope that SS finds enough gas at Loxley if the pre-planned farm out ever gets consummated as you obviously don't think much of Turkey:-

'Adrian The Fool on The Hill@davethedrill1
Jun 30
#UKOG Turkey is a duster'

But unfortunately according to you (Adrian The Fool on The Hill@davethedrill1, Sep 5) this is the guy running the company:-

'Replying to @drivingni
SS is a a disgrace . Incompetent. Lazy and greedy. #ukog But UKOG have huge Weald assets that in the right hands can be fracked. Sanderson just sits on ha ds. Horsehill and Broadford Bridge huge. He can't even get planning paper work right'

Only of course it can't be fracked, and probably not just because the Conservatives have re-introduced the ban - and please don't repeat the lie you can't possibly back up with evidence that I ever said it needed to be fracked.

This company did find a different country to drill in. Unfortunately it still took much longer than they said it would; didn't shoot new seismic that was needed, said as little as possible about previous drilling in an adjacent lookalike producing field and then didn't find what they said it would.

Not sure with UKOG it's the country, more the management not being honest about how risky the projects are - leading to an expectation of success among unresearched (beyond company RNS) investors that is unlikely to be realised.

Currently they have permission in the UK to drill Loxley, convert HH-2z to an injection well and drill at least 4 more wells at Horse Hill.

Yet they want to drill in Turkey where they have and intend to continue spending the cash recently raised but they don't currently have a prospect to drill, and haven't produced new volumetrics for the most recent mapping - which has a considerably smaller area of closure than previously indicated.

Wow, extra skips and a waste truck.

It's a sign I tell ya.

Maybe the bunds are full of water and debris?

SP has been 'soft' for a while - 4 years? At least this big trade was clearly a sell - what do they know? Probably distraught that they didn't wait for news of skips and a waste tanker.

'They have just done a placement, they do not need to do another'

Interesting.

Obviously when they last raised they stated that the cash was to:

'provide the Company with a source of general working capital and to help deliver the Company's previously stated near term goals of completing the Phase 2 Turkey seismic programme and the subsequent drilling of a new appraisal well in the Basur oil discovery.

Hmmm - 'help deliver' doesn't sound like it was fully funded.

Then there's HH-2z conversion which will require a workover rig or CTU - unfunded, though they don't seem to be in a hurry to do it.

and if a farminee is found there's a possibility it won't be fully carried, and the farminee may be in more of a hurry than UKOG - more funds would be needed for that.

without good news - one of the bolsters to the SP - the fantasy fracking of the Kimmeridge - gone.

Apologies, that should be 3 mo ths:-

'Loxley - no news for 3 months '

News has been imminent for longer than I thought.

Perhaps if ocelot took a few posters off filter it might help.

Loxley - no news for 2 months about a 'pre-planned' (!) farm out of a well that posters like ocelot believe to be worth billions. Not snapped up instantly by a pre planned farminee.

Basur - September placing was to 'help' deliver the well (not fully fund) and the phase 2 seismic processing (which was meant to be fully funded by the earlier placing in July). Until the new data is processed, interpreted and mapped the location of the next well isn't decided, acquisition was RNS'd as completed on 16/8. There's a new map, tweeted in July, from the phase 1 seismic that has a much smaller closure - optimistically squeezed in between strike lines - there's no mention made even of the volumes now likely to be tested. UKOG has also determinedly avoided enlightening investors as to the actual production levels of wells in the adjacent and lookalike E Sadak Field. Information gleaned from 'scout' reports show variable results, generally no better than HH-1 initially and possibly faster decline. Even if successful it's unlikely production will do much more than fund the next well in Turkey to maintain production levels, and then the next.....etc.

HH - The producing well is valued by UKOG at less than £4mm - it averaged in June less than 60bopd. During July site works were carried out and new downhole and surface pumps installed, production in August not yet known so expectations that the 'new' pump/s might see higher production levels over the period before the workover is not confirmed, more likely a slight increase due to being shut in for most of July. Permission for multiple additional wells has been in place - notwithstanding legal challenges - since 2019 and UKOG withdrew the original application to the EA for HH-2z conversion to an injector delaying it being granted for about a year. Since being granted all UKOG RNS'd in August that they are preparing for the conversion, despite having years to 'prepare' for what many posters to believe to be a game changer to production prior to grant of permission, seems a bit like preparing for Godot to arrive?

give me strength:-

' the professionals buying in @ cash value'

You mean P&D merchants, and you couldn't give any details of your cash valuation - just some waffle about HH + Loxley + Turkey were worth £16mm to a major!

Well Turkey hasn't even got a target, the latest mapping is considerably smaller than the original outlines and they drilled a well that totally missed the structure - sounds pretty risky.

Ocelot keeps quoting mid and high gross case for Loxley because that's what SS quoted to Hunt. But these figures are highly speculative (risky) given that the extension of Godley Bridge is not proven until Loxley is drilled.

Ells,

The unintended consequence of your posting about barchart.com is at least ocelot might now stop posting when it's positive. The only reason anyone else posted their 'sell' ratings was to try and embarass him into stopping posting the ridiculous 'buy' pronouncements - but most if not all doing that were filtered.

Ocelot will of course see your posts - funny that a fan like ocelot hasn't rushed to defend barchart.com though.........

Bag0,

For Turkey until the phase 2 seismic is processed and interpreted - the acquisition was RNS'd as completed on 16/9, and there's been no news since (phase 1 took about 10 weeks from the acquisition RNS to RNS 'update') - we don't know if the leads identified from the phase 1 seismic have matured into targets.

What we do know is that following the phase 1 seismic the probable size of the prize is much reduced with the Basur closure considerably smaller and the Resan area avoided due to fear of water ingress - though Basur-1 testing was stopped precisely because of that.

Loxley we await news of the 'pre-planned' farm out where the pre-planning doesn't seem to have reduced the timescale to execution, or even any further news since it was announced in July. Until Loxley is drilled the claim that the Godley Bridge structure extends into UKOG's licence in unproven. What we do know is that the previous Godley Bridge well and sidetrack drilled to appraise the find failed, although UKOG now claim that Alfold-1, abandoned as dry with gas shows, has a gas column that has the same GWC as GB-1.

Ocelot,

The difference between ninetails and yourself is that you continue to join in or even try to instigate P&Ds that make unjustified claims - examples like the prediction last year that the SP would reach 0.9p by the end of May 2021 and the fake AD*FN account claiming to be a well known trader suggesting he'd bought a large tranche of shares that you posted here.

Pointing out that there are unscrupulous traders happy to rip off naive investors is very different from joining in with them as you seem to do.

nteresting POV - BOIL raised in April and has just jumped on a positive RNS therefore UKOG that raised twice, in July and September will 'sail into the sunset this week'.

So what is definitely going to be announced this week by UKOG, don't be shy.

There are announcements that have been expected for a while now but often the boat sails into the sunset but never reaches it as the 'pumpers' abandon ship before the boat leaves the harbour so it turns back and dumps a load of new lth who bought at the wrong time waiting for the next sailing - it used to be train leaving the station (choo choo) and then backing into the sidings but I suppose that's been used too often.

PS BOIL then 'ran' from 0.36p to 0.17p (today) - lets hope not too many bought at 0.36p believing the pumpers hype?

ells,

'JackieSprat is telling the truth about Ibug Penguins etc etc'

of course jackie isn't telling the truth - how can he - he doesn't know anyone on this board (except a few fellow HH watchers) so how can he 'know' anything - just like you seem to think greens who have continually explained how bad the projects are would have invested huge amounts of cash and are now disgrutled investors.....doesn't sound sensible does it?

Anyway looks like 'Jackie', P-F and hundreds, probably thousands, of others bought in lower than you did in July.

and please show a post where I 'lied' about July production.

It was Adrian on twitter that lied about the pump being on HH-1. In one of his persona here he opined that he 'assumed' it was on because an oil tanker left in the middle of July.

Adrian@davethedrill1
Jul 14
#UKOG #Horshill Tanker is showing : 1267 HazChem Plates. (means carrying Crude Oil)
New pump fitted working well.
Adrian'

But he tweeted in October (forgetting the July 14 tweet) there was no pump on HH-1 during July. Then on October 16th he claimed it was on HH-2z - forgetting that HH-2z being horizontal had a ESP downhole - no surface pump on that well.

'#ukog During the works carried out at #Horsehill in July whilst HH1 surface pump was removed,a pump was observed on future water reinjector well HH2z . This adds up when reading the RNS Horsehill update 15/ 8 / 2022 .
Adrian'

Didn't mention it at the time though - wonder why.

Jackie? knows so much and repeats the same accusations that bloke on twitter does. Can it be coincidence?

He doesn't understand the peculiar correlation between these 'bashers' and the SP - though what he means is posters who explain what is likely to happen (and then does) - rather than UKOG's narrative repeated ad nauseum as if it's fact rather than hope.

Some like to profit from others misfortune - and gloat.

P-F

'This is a trade for me, hold until run upto Basur spud'

wow - that might just make you a lth -but I guess substitute Basur spud with any spike.

But does anyone really believeyou - will you be out if you could sell at 0.08p? - though it looks like the same as Thursday and Friday - running out of steam.

Jackie?

'When is the company due to announce a farmout of the Dunsfold gas licence?'

Good question, there's posters and tweeters suggesting it would be soon since, er, July.

Most companies RNS about progress of farm-outs - UKOG nothing since the announcement about the mysteriously entitled 'pre-planned' farmout, as if anyone farms out without planning to do so beforehand?

Maybe prospective farminees are more discerning and want to see more seismic first or at least better control on the depth conversion of the existing seismic - a problem that Conoco encountered with the follow up failed appraisal drills to Godley Bridge-1.

Ells,

Hilarious,

I rarely post about my holding as that's gambling not investing and I would hate anyone else losing money on this share because they thought that holding this share by anyone else was an indication of how good it is - and anyway any time I have posted I've been told I'm lying so what's the point.

But remember anyone that's been here a while knew there was a very good chance that the SP would go lower than the placing SP.

And you're calling everyone you disagree with 'out'. What a sad person you are - how many times have posters come on here full of themselves, buying at 'all time lows', argued with those that say the company doesn't have very good projects, extolled the next one only to see the SP drop.

Some will be lucky and buy just before a supposed 'good' RNS others before a 'bad' one.

Of course P&D give short term rises - go back through my posts every now and then I mention that's my reason for gambling here - maybe the new yet to be seen mapping of Basur looks genuine (the recent one on twitter doesn't), maybe UKOG comes up with a CPR for Loxley or submit HH to a CPR - then maybe I'll start to believe if it backs up what UKOG have RNS'd. Until then I'll stick with my opinion about their projects - not because I'm 'green' or a 'nimby' - there are other reasons and they are certainly not because I hate oil, quite the opposite.

I don't need to believe, in fact it helps not to otherwise you can end up holding through a spike because you believe others are holding for the next drill results - they're not

Ells,

You must be kicking yourself that your 'buy low' crown has been stolen by P-F.

Fancy being the lth that bought too early / too high.

Wonder if P-F will still be here Q1 for that 'big drill' that not even UKOG have a target for?

Just another hoping there's a P&D on 'news'.........soon.

Even with three possibilities (HH, Basur, Loxley) that our resident rampers were promoting as the next good 'news' UKOG managed to pull another placing out of the hat in September.

Maybe þhis time............