Member Info for Penguins

Ells,

Oh dear

Perhaps this best describes you Ells:-

'you continue to buy speculative and don’t diversify. Your portfolio is 100% energy sector. That is not how a professional works.'

This was your proud boast about 'hedging'

'ells_valexpert
Posted in: UKOG
Posts: 1,005
Price: 0.075
No Opinion

RE: Ells again, 06 Oct 2022 21:10
what does that say about the posters that have continually posted about how great the projects are.

I have got in sub .10 so I can lose next to nothing being hedged in a hydrogen company. You are either a climate extremist as hundreds have pointed out on twitter or you simply are a long term holder that can't let go?'

Looks like you bought speculatively after UKOG dropped following a placing - yet they placed again (oops) - and then you've hedged in........energy.

Funny you think you know everything including what's in everyone's share portfolio. If diversification is a revelation you'd like to share I suspect it's 'sucking eggs' to most here.

Stockraiser,

I prefer to give my honest opinion about UKOG projects - I'll leave it to others to lie to get the price up. There's a lot of so called lth investors saying how great Loxley / Turkey / HH are when they know very little about them when asked - often quoting ancient (but never updated despite more recent activities) or skewed figures for oil or gas volumes.

Ells,

So it seems in your opinion it's green activists who have lost a load of cash on UKOG that don't ramp here - seems you think greens have invested heavily here and having said it's cr*p invested for the long term - not sure of your logic especially when it's probably those posters that were warning the SP would go below the placing price when you bought at over 0.09p

'More professionals on-board...'

another laughable comment.

I think you mean P&D'ers that appear, spend all day tweeting, and disappear just as fast - hasn't worked so far this time - if you look some are retweeting each other, and you're right they know little to nothing about Turkey / Loxley / HH.

Needs a RNS to pump properly - that's when it might rise a bit, but be careful don't go believing posters like yourself saying how great UKOG is and the price will keep rising, history says otherwise and there's no news (yet) to change that.

'It is not a Turkey in Terkiye.gl'

any justification you'd care to share for that statement bearing in mind that Basur-3 proved what UKOG RNS'd about resources before it was drilled was a fantasy - and as yet hasn't a new target (TBA) and no resources.

Definitely being taken for aride.

Ells,

Still living the fantasy 'green' and 'activist' dream - hates posters who don't ramp, as it's apparently their fault the SP has dropped, nothing to do with constant failure and raises by UKOG. Wonder when the big sell to provide the morning pumpers / afternoon dumpers will appear today.

I'm surprised that you don't agree this ranks highly in the realm of your stupidest statements - even in context - I'm surprised you want to bring attention to it.

'13 Oct 2022 14:18
Right we are going to a vote.
Scenario
Norway pipeline to the UK is shut down & Fracking abolished for off-shore licences
Vote YES for; More oil wells being drilled (no fracking) to existing sites/infrastructure on-shore with limited casualties & hospitals running smoothly'

?

But good to see you're still linking to that bloke on twitter - shows how far you have got down the rabbit hole of ramping.

But a couple of things - that's your post:-

'ells_valexpert
Posts: 852'

and I'd be interested for you to quote a post where 'Penguins who has been here for years talking the share down with green drivel...'

I haven't 'talked the share down' - that's entirely the fault of UKOG, failure and wasting maybe £80mm raised over the years - but I may have more accurately predicted the outcome of the various activities - ie 'been negative' - have you seen the share chart - but it hasn't been green drivel.

More likely the provider of all those buys over 0.07p this morning.

So often the big buys aren't.

'@davethedrill1
#ukog. I remember Poster Penguins years ago saying you can't get oil out of #Horsehill without fracking ??oops they did. Now Pingo says you can't frack the Kimmeridge. Oops Pingo hero Smythe says you have to frack the KCF.
Let's frack the Weald.'

Completely made up BS.

In fact before the 2016 tests I repeated what HHDL stated in the February 2015 'Environmental Method Statement':-

'Bear in mind that a key objective is to recover an oil sample from the Jurassic. As a result repeated swabbing may be required to achieve inflow to the wellbore'

Repeated swabbing - absolutely nothing to do with fracking - if anything the opposite - dropping pressure at the reservoir level - look it up. But sounds a bit like the problems they had at BB.

Funnily enough it sounds a bit like the problems they had and should have expected at Broadford Bridge.

I have always posted that the Kimmeridge isn't suitable to frack because of the alread present fractures - and following further research believe the main issue with the Kimmeridge is it's normally pressured.

Why hasn't UKOG drilled more wells in the Kimmeridge - preferring to drill risky wells in Turkey - that UKOG said were less risky than Loxley (and now given up on Arreton).

Hope this helps Adrian.

Ells,

'Mirasol is lying. Turkey was covered in July placing'

Mirasol can answer that but in fact it wasn't. But I suspect you meant September's - but that was only to 'help' deliver the seismic processing and well.

You really do need to stop reading investing for dummies / charting for dummies and do some proper research about the company's projects.

........but perhaps you hoped so as that's when you bought in at over 0.09p after the July raise which was only for the seismic acquisition and processing:-

'Phase 2 seismic acquisition and processing over UKOG's Basur oil discovery in SE Turkiye; and
For general working capital purpose'

But they raised again in September:-

'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'

Not only also for processing (fully funded? from the July raise) and 'help deliver' not deliver the well.

Sounds like another raise may be required to fully execute the well - they may need a new site but perhaps they'll be sensible this time and like TPAO first drill a cheap 'finder' well that requires a minimal site, it wouldn't be suitable for production, but accepts a lot of the wells in this area are risky. As for Loxley if UKOG don't get a full carry they will need cash for that.

HH-1 has had at least a couple of new pumps, including one lauded as 'bigger', neither halted the decline. At the moment production has flat lined around 50 to 60bopd. So what have UKOG said about the increased production form this latest new pump - hint - absolutely nothing. What is needed is a statement from the company (not the twitteratti) about what's happening with HH-2z conversion to an injector.

Desperate posting from someone who bought in in July after that placing when posters were saying the SP would go lower - throwing out ridiculous accusations about other posters.

Hope that posters haven't invested on the basis of the slides that are being tweeted.

They are the slides that helped to fool investors into thinking that Basur-3 was going to be transformational. All Basur-3 did was prove those resources weren't there.

Tradedesk,

Basur-3 was the massive drill (drilled off structure, proved by follow-up seismic).

The new seismic being processed is hoping to better define new, much smaller targets, that they identified on single lines of the first phase of the post well seismic.

Ells

You've been here a while, how much gas does UKOG sell at the moment?

How much is likely in the next few years even if Loxley is drilled (and when is that happening?) and is successful.

For that matter how much oil. Last fu.l month of production with released figures was .less than 60bopd.

Tradedesk

The 67mmbbls was the high case for the structure they no longer map (RNS 23/03/21):-

'Basur-Resan's Mardin oil pool is estimated to contain aggregate gross mean and high case discovered recoverable resources (see glossary below) of 37.2 million barrels ("mmbbl") and 67 mmbbl respectively. UKOG's corresponding 50% net share being 18.6 mmbbl (mean case) and 33.6 mmbbl (high case).'

As per normal (for UKOG) they don't quote the low case in the above RNS - but those numbers are irrelevant anyway.

Tradedesk

I doubt 'help deliver' the well means it is fully funded - UKOG claimed in a previous RNS that the seismic acquisition and processing was fully funded yet more cash is needed for processing.

As for the claimed resources; the seismic which was shot at the end of last year, beginning of this, following proving the old map wrong with Basur-3, resulted in new mapping that had a small closure that would be the target for Basur-4 rather than the large outline covering the whole Basur-Resan feature that the 33'5mmbbls came from. UKOG has not released any resource figures for structure in the new mapping. Even that may disappear as this new seismic they're processing was shot to prove it exists.

Ocelot,

always an excuse why UKOG goes quiet.

I remember the good news can be withheld, but bad news must be RNS'd immediately, brigade when BB went silent - so all was well - it wasn't.

They could still mention they are negotiating with multiple companies (if the are) - Angus managed to be open about the number they were negotiating with - though the offers Angs received were significantly less than the valuations expected by posters for 'oven ready' gas production.

'If UKOG's anticipation of near-term oil production in Basur-Resan in early 2023 proves correct, how will the share price respond?'

Posters anticipated near-term oil production in Basur-Resan in early 2021 because of the RNS describing a fast regulatory system and easy move to development. The well was drilled at the last minute before a deadline, in the wrong place. That also destroyed the previous interpretation that gave the large predicted resources. Now we wait for a new interpretation from seismic that should have (and was going to be) acquired before Basur-3.

Ells

stop posting stuff off topic - this is a board for discussion about UKOG not your anti green, anti socialism agenda which quite frankly is getting boring along with your self comgratulatory how great you are at investing.

Oh dear,

I can see why Ells has to retire from LSE every now and then - doesn't want to carry the burden of past posting. Probably hoping that thread will be deleted if he gets wild enough.

Mirasol,

This is UKOG's estimate of UK drill costs, and I suspect it doesn't include site prep (from:This is why the Basur-Resan licence in Turkey is “an irresistible opportunity -January 2021)

'Drilling cost estimate for 1500 m well UK £4-6 million' - if they drill through the Kimmeridge as planned then they will be approaching maybe 1200m at Loxley.

With site prep, inflation, coring?, and (hopefully) testing £5+mm.

As for trolly's billion I'd seriously question any claims made by UKOG about what's below ground until they've drilled the well - and even then, based on the vast difference between predicted and actual production from HH wells during testing, the vast difference between statements about BB during drilling and the final outcome, and the claims that Basur Resan could be transformational vs the result of Basur-3, I would be wary (and that list is everything UKOG has done so far).

Potential seems to enable UKOG (and posters) to avoid mentioning specifically what the risks are. A lot of companies planning a farm out might commission a CPR to support their opinion of 'potential' - UKOG got Xodus to legitimalise their volumes by getting them to calculate resources from UKOG's mapping, not question how the maps were arrived at.

Ocelot,

while you believe every utterance by UKOG you also admit to knowing nothing about O&G E&P - you just go by charts, lots of hope that outside events might help and your knowledge' of markets - which seems to be why you have got the general direction of travel of the SP so wrong for so long. Earlier (since deleted) Ells posted 'A genuine investor would have left in 2017e here' - I wonder if ocelot got that thread deleted as an 'investor' here in 2017.

It may be that another company may not have the same perception of risk for Loxley and UKOG's other projects. Is it a sign of high risk that UKOG hasn't converted HH-2z and kicked any more drilling at HH into the long grass. BB is all but forgotten - do they keep extending PP for the site to avoid abandonmment costs of the site - and has the advantage of keeping the Kimmeridge enthusiasts 'on the hook'.

At best UKOG might get an offer for its subsidiary UKOG (234) Ltd if a company interested isn't prepared to pay a full carry. But the sort of company interested would probably have to give possibly equally worthless paper to buy UKOG and posters would probably be disappointed how little value is put on 'potentially recoveable gas'.

I'm surprised the 'pre-planned' farm out of Loxley is taking so long though - I'm sure ocelot suggested UKOG would have been talking to 'interested parties' when the inquiry was called in by the SoS so would have suitors lined up - and he who hates being mentioned thought IGas were a shoe-in.

But of course by filtering ocelot can avoid having to justify the musings about UKOG when challenged.

...promising vast riches and certainty the SP would always rise have been so wrong about UKOG that they need to blame other posters who have dared to suggest UKOG's claims might come to nought, rather than the company that has failed, failed and failed again to fulfil its claims of transformational success.

That's why the SP is at an all time low.

Ells,

still banging on all day about extremists - yawn.

I'd be interested to know why a new pump on HH-1 will make any difference - they tried that twice in 2020 - neither stopped the decline. Let's hope it doesn't make things worse than June's average of 54bopd. Sounds more like the old one was knackered and it took a while for the new one to arrive – hence repairing the old one for a spare so next time it can be replaced immediately.

But ‘Energy is a fund managers hedge to the coming recession. Well, we are already in one’ - really (hedge fund managers any interest in UKOG - not recession)

Pity UKOG has hardly any ‘energy’, even in the BoD to advance projects.

at least your strategy of finding any news item about green / climate extremists is really working - filling up the board with irrelevancies for UKOG.

HH1AN2

there's always news about to drop.........problem is the only 'good' news seems to be what UKOG plan to do and / or what they hope will happen - when it comes to the results the story's very different. But we can all make hay while the sun shines knowing that - eh.

Bag0

you asked

'has anyone read the loxley gas document and what value would you put on gas assets in relation to gas in the ground? i'm getting crazy numbers if its anywhere near 2.5% which i think it was for oil in 2020’.

I've read a lot about Loxley, not sure what 'document' you read, but not surprised you're getting crazy numbers - but there's no proof that any of the gas exists in UKOG's PEDL at Loxley. For comparison of value Angus has onshore gas production (now nearing 6mmcf/d) with similar CPR'd reserves to Loxley, rather than Loxley's 'potential recoverable resources', and Angus is currently valued at £47mm - not long before production, with 2 production wells already in place, in a well defined structure with 3D and multiple well penetrations, a CPR, with considerable production data, Angs mcap was less than half that.

Adrian

Saturday - OK - missed that - but that was responding and pointing out the inconsistencies in your tweeting in answer to your latest (now ex) visit to LSE - be very difficult to not post about you - and my first post Saturday was 18:10 not 7:00 am.

But remember you keep saying no one will engage with you on LSE - so don't complain when some do.

Any explanantion for your sighting of a pump on HH-2z in July when yesteday you were saying that Adrian must have 'assumed' the pump was on HH-1 on 14 July.

'Penguins denies she is a green Quack Quack . just check out her posting history for the truth'

Perhaps if you'd put 'check out his posting history for the truth about UKOG' you would ar least be accurate for once - and I'm not a green.

'poster Penguins on lse is obsessed with me lol' - and yesterday was replying to your 'shakerandmover' identity - now deleted (I am flattered but why? - that's why ) - but check out your tweets - how many penguins do you see.

note I said yesterday, quoting part of one of your now deleted posts:-

'swampies are always trying to do a character assignation job on Adrian' - well posters you claim are 'swampies' who aren't, say they're not, are much more likely to refute your devious tweets and posts when you creep on LSE Friday - making your way to this board in the evening'

I have to respond to this easily established lie from Adrian@davethedrill1 on twitter:-

'from around 7am Saturday morning penguins and the rest of the glue themselves to the road brigade on
@LondonSouthEast bb have been talking of nothing else but ME !'

This is my first post today, and I'm not part of any 'glue brigade'.

Just confirms that Adrian makes it up as he goes along........

Like this - 'a pump was observed on future water reinjector well HH2z'

really - says who - funny Adrian hasn't mentioned that until today - not on here, not on twitter. Even suggested when he was on here yesterday that this other person 'Adrian' assumed the pump was on HH-1 - now he's claiming a pump was on HH-2z.

Maybe he'll explain why UKOG would put a surface pump on HH-2z - this well had an ESP (an electric pump which doesn't require a surface pump). It would probably need a CTU to remove it. I can see no reason why a pump would be put on the well.

This is exactly why anyone should be wary of 'Fool news'.