Member Info for Penguins

Fortunetellers?

The shotholes with oil in were about 1.5 kilometres away from Pinarova. Kezer was about 400mtres. Which is a better indication of what Pinarova might find?

And that was mostly water according to UKOG, RNS 11/01/2023:-

'The presence of movable oil within Pinarova is indicated by results of the 2018 Kezer-1 shallow geothermal well, located near the apex of the Pinarova geological feature. Kezer-1 reported strong oil shows throughout the Hoya and flowed heavily oil-cut fluids to surface on a short open-hole geothermal test.'

apex /ˈeɪpɛks/ noun

1. the top or highest part of something, especially one forming a point.

Were they just drilling Pinarova for an oil show?

Funny how someone pops up mentioning 10,000bopd - when the closest field to the Resan licence was producing a total of 250bopd from multiple wells, and Pinarova is testing shallow formations not previously known to be oil reservoirs. Judging by the Kezer well 400 metres away more likely expected to be aquifers for geothermal.

and how some of the same rampers are here that were cheerleading last year on the Friday before the swab tests of the Hoya in Pinarova were RNS'd on the Tuesday the following week. Yes a good ol' P&D.

'TrollHunter2 Posts: 1,934

Price: 0.0985

No Opinion

RE: Getting money back 21 Apr 2023 17:58

Look at the 2017 rise......could be in months....have relaxing weekend and look forward to the ride over the coming days and weeks :-)

He who dares......... :-)

Got to be in to win it :-)

A lot of money getting today....just the start....watch this snowball as news spreads over the weekend...... :-)'

The result of the swab test RNS'd on the following Tuesday:-

'Swabbing the 107-metre open test zone initially returned only drilling fluids which then became cut with possible formation water during the latter stages of testing.'

Whilst they claimed that result was inconclusive they didn't return to test that layer following logging intended to identify pay zones in the Hoya.

No oil, and of course there was the deception of the 'urgent' tweet of oil in a bottle which wasn't from the interval about to be swab tested in April which helped, even fooled DL.

'ocelot

Posts: 23,076 Price: 0.0875

Buy

tweets: UKOG/David Lenigas21 Apr 2023 15:31

UKOG

TURKEY URGENT UPDATE: Oil recovered from Pinarova-1

David Lenigas:

Brilliant. This is amazing oil from@UKOGlistedonAIM

#UKOG quick look see from their ~50m of oil shows in their new #Turkey #oil well. This looks like very light sweet #crude to me. Any oil company would be happy seeing this. Main target still to come deeper. ?????'

I'm not suggesting you can't make money - just make sure you don't get spiked when the P&D rampers bail out before the results - they all claim to have made money on a share that rises on news before dropping on results.

TH2,

Doesn't like his previous ramping history posted.

More like a harbinger of doom. Here's another just before the interims that revealed HH-2z wasn't cured of water influx but swamped by it.

'TrollHunter2

Posted in: UKOG Posts: 1,929 Price: 0.265

No Opinion

Eyes back on tanker watch 29 Jun 2020 17:24

Tomorrow I guess after today's distraction.

The price is now a gift for the high value investors building positions over the past couple of weeks... almost half price from peak..... fill ya boots boys !!!

Turn up HH-1 and start up HH-2 Mr Sanderson...... show them what UKOG can do now'

SS sure did, turned down HH, got into transformational Turkey which has taken a few years to prove those deluded realists were right, and demolished the SP, now less than 7% of the SP then.

Proper hissy fit - resorting to ridiculous stories and insults, desperate stuff. Sorry my posts are a bit long for those with the attention span of a 5 year old, explains why they tend to make fools of themselves with their posting.

Seems like TH2 has just woken up from a long sleep and thought the picture was not of equipment doing a 'hail Mary' test in Turkey but a tanker at Horse Hill.

Not many posts ago there's this gem from a few hours before the failed swab test - hope that order wasn't filled (you might say what order, I couldn't possibly):-

'TrollHunter2

Posted in: UKOG Posts: 1,929 Price: 0.103 No Opinion

RE: Shares 25 Apr 2023 09:52

Strange, cannot execute a live buy online right now....so placed a limit order.

Something bubbling?????.....game changing RNS incoming????'

Certainly was, hope game changing RNS don't strike twice.

Sorry, thrice - 3 days before the 'Basur-3 was in the wrong place RNS':-

'TrollHunter2

Posted in: UKOG Posts: 1,929 Price: 0.1575 No Opinion

Five well drilling programme30 Jul 2021 10:28

This first well is just the start of a much bigger picture.

We quite often see a dip before breaking news as the nervous jump ship and the money men play on their fears.

Stay strong and rely on your own good research... not fearmongering chat boards infested with Nimby's, trolls and the XR single issue ill informed brigade.

When TH2 turns up to ramp it's more ill informed than well researched.....

Downbutnot out,

you posted:-

'A few buys at 0.019 into the close. bodes well for 2moro.'

Don't get too excited, 9 buys worth £46 in total, an average of just over £5 each - and they were mugged.

But an interesting tweet in response to UKOG picture of the site:-

'If you had waited for the results to come through the SP might have been higher and got a better price instead of giving the shares away for nothing again'

I wonder...........

PPP have gone rather quiet about both CT wells after almost weekly updates in November, wonder what the CT-1H current production is, and what's happening with CT-4H?

and what happened to 'The company will report a more accurate assessment on water cut once full production to the facilities has been stabilized over the course of the next few weeks.' in the 30 October RNS, or this from 7 November:- 'The well's production is still being optimised over this extended testing period and the Company will advise of flow rates and decline curves in due course.'

They've got authority to issue about 100million shares (£1,002,991 worth of shares with a nominal value of £0.01) but they have borrowed about 60 million shares they need to give back - so assuming 40 million can be used for a placing/s at the current SP (sell 2p) that's only £800,000. Of course I expect PPP is hoping to pump the SP up but if the Texas wells don't perform or decline rapidly they might need to raise just to shoot the seismic.

Even if they don't replace the borrowed shares at the current SP that's only a little over £2,000,000.

But this is complete BS 'Most potential and those who are already share holders willl be asking why do the usual suspects on here enjoy insulting and mass reporting and banning posters who post positively on here'

The only banned poster is you - and you seem to be going for a world record for banned accounts, one already today.

Otherwise sonmoon is another reincarnation of Ells / JR90 / G-Martin and a few other accounts (at least one before Elsvalexpert or whatever it was called). Apart from one slip up the accounts are sequential and closed rather than banned when the wrong claims have mounted up. Surprised after posting that UKOG were fully funded on 11Jan, followed by a placing on 12 Jan 'ells' didn't close the sonmoon account.

But I can see why you don't like certain accounts that expose your lies ('trust me' what a laugh) - but you mistake ignoring them for not being able to counter them - like earlier when you (as Tonyginaro) claimed that no one knew when the oil smell happened - when you're caught out lying you resort to insults, or change the subject or hope you're account is removed - or all three.

Tony,

presumably you view UKOG not mentioning the oil smell for a couple of weeks as not a good sign - well this might blow your mind as they didn't mention the oil sample came from when they set the casing until then either - they did show the sample in a tweet on 21 April but they were tweeting and RNSing about the swab test of the Hoya they had just drilled through after setting the casing. It even fooled DL into thinking it was from the section they were about to swab test.

Not mentioned in the 18 April RNS - following the casing being set, not mentioned in the 21 April RNS though they were tweeting it as if it was 'urgently being shown rather tha days after it happened, and not mentioned in the 25 April RNS after the failed swab test.

Did they hold the news back of this oil in the mud pit in case they wanted to 'beef up' the news on another interval but couldn't RNS it as they would have had to have been honest about where it came from?

I guess if they recover 9 times the volume of oil in that bottle this time will they consider it a success - but quoting wells elsewhere in a different play / formation is pointless.

As AME put in their annual report if it worked it would be first in the region

Tony,

perhaps read AME's Business Strategy - this is number 4 in the list:-

4- Unlock net asset value of the portfolio..

AME asset base includes large positions in several long-running pieces that generate little to no cash flow. We will continue to high-grade our portfolio and consider divestitures and joint ventures where the underlying values are not reflected in our financials'

and reflect on the fact UKOG went into the Resan licence joint venture and paid 100% of the first well, Basur-3 and the seismic they should have shot first - as the well was drilled in the wrong place because the prospect was nowhere near as big as hoped.

Then in the 2022 AME Annual Report this about the Pinarova well:-

'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'

So the question is how much has this AME paid - of is UKOG paying most of the costs.

Tony,

Perhaps you should read (and understand) the RNS:-

we do know when they smelt the oil:-

3 May RNS:-

'The proposed uppermost zone, from approximately 255-285 metres, corresponds to a 12-hour period of strong oil odour at surface'

and we know that zone was cased off already by 18 April. 18 April RNS:-

'UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that Pinarova-1's 9⅝ inch casing is now set and cemented down to 287 metres below surface.'

Although none of these say while drilling 21/11 RNS:-

'The new guns will be deployed over the Germik/Hoya section where strong oil odours at surface were recorded over a 12-hour period during drilling'

So who is telling stories and who is quoting facts?

Tony,

The smell occurred before they set the casing which was on 18 April.

3 May RNS was when they had reached TD - when they finished drilling.

Ocelot,

You posted:-

'Whatever it is they are trying to prove, they have gone to a lot of trouble to get here.'

UKOG went to a lot of trouble and expense testing Broadford Bridge so UKOG persevering spending cash obtained by selling shares on the cheap may only prove that the original perforating did reach the formation or it didn't matter whether it did or didn't.

Whether they were aware, as a poster here was, that it could take months to find and get a hopefully suitable perforating equipment and then a couple of months once in Turkey to get it on site isn't known, though it was convenient to keep the story going during a year of virtually no activity - just paperwork on Loxley and the Portland gas storage project - probably mostly done by consultants.

It's noticeable that they no longer mention the oil recovered from the mud pit was when they set casing so they have no idea where it originally came from in the hole they had already drilled, and as Ibug illustrates UKOG also failed to mention the oil smell in any RNS, including the one immediately after it happened, until they had finished drilling, after unsuccessfully swab tested a zone in the Hoya with oil shows, and failing to test the primary target.

Assuming they perforate the casing this time results could be soon.

'Masquerading on here as oil experts LOL!'. Well I've never claimed to be an oil expert - so

For someone masquerading as 'not Adrian', a banned poster, that's a bit rich.

I'll keep it fairly short for those of a limited attention span.

No amount of ramping has affected the outcome of Broadford Bridge or Basur-3, nor has it managed to stop the decline at HH nor made HH-2z successful, nor made the previous swab test of Pinarova successful. All had pump and dumps at various times but ultimately the SP has dropped.

Those pointing out the shortcomings and likely failure were ridiculed and accused of much the same BS as you are spouting now by those predicting tremendous success.

It isn't predicting failure that has lead to UKOG being 'harmed' - it's the failure of the projects - there's also a credibility gap with posters saying how great everything will be - we're on the third episode of predictions of oil flowing in Turkey when the first two (Basur-3 and the swab test of Pinarova) were failures.

I better not mention the disastrous for the SP cash raises, and profligate spending on equity in HH. Bought 35% for £12mm - farming out (maybe) 49% for £4.6mm - or just £2.3mm uplift.

Adrian,

Predicting something will fail is not the same as hoping it will fail.

As you're (usually) 'hoping' that there will be success, that doesn't happen, I can understand your confusion between a logical expectation and belief.

I'd certainly be happy if the test is successful, it's just that what is probably a tight carbonate, that didn't have oil shows and the company ignored until all the other possibilities failed, and then interpret that the first perforating failed - though it might not have - and of course UKOG's next move if the well results are positive (oil sample?), then they will go looking for a deeper accumulation rather may not exist - and they hope it's spilling not leaking - though the shot hole oil and the previous sample may be direct from a source rock - their first interpretation.

You posted:

'Penguins has insuated for many years UKOG are frauds. Claiming they have been drilling no hope wells deliberately to raise money just to pay directors wages'

I'm pretty sure UKOG deliberately drill every well because they hope they will beat the odds, but as I've explained previously they can't secure good acreage and end up either drilling (or wanting to drill) discarded acreage with an undeveloped poor discovery (Basur, Loxley and others in acreage now relinquished) or a risky new play - BB, Pinarova.

I have posted it was fortuitous that it has taken so long to secure the perforating equipment during a year when UKOG did nothing much except manage (expensive) consultants dealing with Loxley planning conditions and the Portland gas storage project.

Whilst UKOG has used the legal challenges in their planning application for BB as an excuse for no progress there - by claiming that despite having cored the Kimmeridge in BB-1, logged it extensively in BB-1z and tested 5 KLs for long periods they need to wait for Loxley and HH drills for more information on the Kimmeridge in distant wells - however at HH they ducked deepening and logging HH-2 extensively in 2019 (ie after BB was drilled).

As for any posters claiming oilfield knowledge the sad truth is it's either a poor reflection on the professionals employed by UKOG or the veracity of UKOG RNS that they are better able to predict and explain the likely outcome of UKOG's activities than UKOG's positive outcomes with little or no explanation as to how risky their expectations are in RNS.

But as for insinuation:-

'Adrian The Fool on The Hill@davethedrill1

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.But he can place and pay himself .

5:40 PM · Sep 5, 2022

Not soberedup since last night?

what are you goingon about, most posters who have managed to at least retain some graspof reality would realise that 'BP,' is addressing the poster named Bubblepoint.

Like most posters will addressthe most recent to register poster as Adrian.

Too busy today to play your silly games.

Your posts don't upset they go to prove this point in my post:-

'How easily were investors fooled by that and subsequent claims about projects where desperate posters were happy to repeat any positive claim by UKOG (and many probably not fooled judging by the dumps before results) whilst regularly there was conflicting, factual, evidence that UKOG's expectations were highly unlikely to be the outcome.'

As true about Dunsfold / Loxley as Turkey, Broadford Bridge and HH.

But the sky does keep falling in.

and I made an error in my last post the third paragraph should read:

'But if there are any 'greens' they are a subset - a few posters on a fairly insignificant bulletin board that has few posters anyway except on days when it's swarming with pump and dumpers like Adrian.'

BTW it's pretty obvious who on this board knows what they are talking about vs a person who claims no knowledge of O&G E&P (ocelot) and a person who was fed BS by SS for a short time at HH and takes photos of tankers and the site from a footpath - usually coming to the wrong conclusion from either observation.

BP,

'Framing' posters as activists is trying to suggest that their opinions are biased rather than realistic.

Perhaps there are nimby or green activists, or posters who are upset with the company for continually making unrealistic claims - but they tend to out themselves with very little commentary on the projects but plenty about the company or SS.

But if there are any 'greens' they are a subset - a few posters on a fairly insignificant bulletin board that has few posters anyway except on days when it's swarming with pump and dumpers.

Ocelot, and others, have tried in the past to suggest that those that are negative, in their opinion, are responsible for the lowly share price, it just shows how unrealistically positive they are about projects, and by their slavish repetition of UKOG PR, how unrealistic UKOG RNS about the projects are, given the outcome of every venture so far vs UKOG expectations.

I became interested (possibly for reasons that may be obvious to some) in UKOG during the claims made about the Kimmeridge in 2015 and having read the BGS Weald Shale report was amazed at the negative spin being put on it by DL when it was possible that the report was responsible for UKOG's attempts at producing the micrites (the KLs). The report suggested the micrites could be a possible target for production but the report was about the shales and the small volume of producible (and large volume of locked in) oil etc quoted was that in the shales.

How easily were investors fooled by that and subsequent claims about projects where desperate posters were happy to repeat any positive claim by UKOG (and many probably not fooled judging by the dumps before results) whilst regularly there was conflicting, factual, evidence that UKOG's expectations were highly unlikely to be the outcome.

The raise was 3.75billion shares last Friday.

There's theoretically £1,300,000 of the current level of loan remaining of the CLN, though it's very possible the loan note holders have been given more that haven't been RNS'd yet. I doubt they will convert all of that at today's vwap (approx 0.0172p) but if they did that's over 7.5 billion more shares - and there's meant to be £500,000 more loan handed over before 16 February.

Let's hope they deploy the somewhat forgetful wellsite geologist with the sensitive nose to calibrate the oil smell gauge just in case, like the swab test, they recover zero oil - though maybe they could resurrect for the third time the bottle of oi / water / de-emulsifier that so far has helped ramp the swab test in the Hoya, and then encouraged the first perforating of the Germik.

Sometimes the deception is in plain sight, other times it's just that they only RNS the most positive interpretation / opinion.

With Pinarova the most positive outcome stated by UKOG seems to be it will encourage them to look elsewhere for the oil, let's hope it's not that encouraging and they can perhaps realise that AME did unto them as they have done to shareholders -though if they had done any due diligence they surely knew it was a long shot, not transformational - and concentrate at least on getting their UK 'assets' advanced. Although my opinion on both HH and Loxley isn't positive at least then the last veils will have dropped and the reality of what UKOG has in terms of O&G 'assets' will be exposed and investors can decide if they want to go on the long journey to gas storage or get out.