Member Info for Penguins

'Take this RNs going right back to the 15th Jan 2021.'

Explain how / why UKOG in early 2021 when the threat of legal action was underway UKOG were planning to drill HH-3 & HH-4 after Basur-1 was 'successful' which according to UKOG would happen soon after discovery, which would have been hoped for in August? You keep telling us nothing would behappening until the legal challenge was resolved. From your earlier 'cut n paste':-

'It is expected that the further HH-3 Portland and HH-4 Kimmeridge infill wells will be planned in detail and drilled at Horse Hill following the completion of the Company's potentially transformational initial Turkey Basur-Resan appraisal drilling campaign.'

More likely they didn't have the cash to drill a couple of risky wells.

Oh and yet aother 'transformational' claim. RNS PR provided like so many RNS by UKOG for constant repetition by posters who exhibit either a lack of memory or an example of hope over experience, or in Adrian's case desperation.

But you also have a short memory about the seismic shot to position Basur-4, two phases of 2D. Basur-4 seems to have disappeared since then - that's the problem with shooting new seismic it can remove targets - especially where the previous mapping has been highly speculative / positive in areas where there is no seismic - which is exactly where UKOG has the culmination of HH and have shown as being the target of HH-3.

It's why there's a break clause whereby PPP can get out of drilling HH-3.

'UKOG don't seem very keen on doing anything to do with it'

Should be 'UKOG don't seem very keen on doing anything to do with the Kimmeridge'

I guess that not posting as if you're an Adrian 'tribute' act by posting incessantly about exactly the same things that were deleted when 'Adrian' was last banned.

Perhaps posting that you're not Adrian could give everyone a laugh.

Personally I'm pleased that Angus have permission to proceed with testing Balcombe - but I don't expect miracles - UKOG don't seem very keen on doing anything to do with it - and they have a lot of data on it from BB and HH. But I guess you have plenty of peer reviewed papers about it.

Adrian,

Despite you and UKOG claiming that the injection would be done every now and then for years - even in June this year they were still waiting for sign off from the EA.

'All permit pre-operational measures have now been submitted to the Environment Agency for discharge in line with the permit requirements.'

Maybe it might finally happen - but UKOG have never claimed not doing anything was due to the legal challenges - just you, a born again apologist for UKOG inaction.

Adrian, for it is you, or are you going to lie and deny it.

It actually says '2015'.

and the planning permission was in 2019 - yet nothing done from it including the site expansion. UKOG even bought the testing kit in 2020 for production when they realised that HH-1 was likely 'it'.

Of course PPP is quoting old information - just like you quoted the 2016 flow rates, not the current production daily average rate of around (usually less) 60bopd from the Portland, 0 bopd from the Kimmeridge. BYW - How many weeks have PPP been in suspension?

Can you point out where UKOG have said they haven't done anything at HH because of the legal challenges? Otherwise I guess it's even sillier to suggest it is the reason when the evidence is that both Kimmeridge and Portland aren't that great .

Still peddling old news Adrian?

'In 2015 a Schlumberger report calculated an estimated mean OIP of 8.262 billion barrels lying within the entire Kimmeridge section underlying the Licences.'

I guess reading something really long like UKOG's annual report might be beyond your attention span - but if you did you might have come across the table of resources where the Kimmeridge at Horse Hill has 2C resources of 1.4mmbbls net to UKOG which is from a June 2019 RPS report. Quite a bit different from the 2015 hype - leaving 8.260 billion barrels in place.

As for the planning permission at HH they could have drilled those wells any time from 2019 if they'd got on and got all the conditions sorted.

Before you claim aas the number one apologist for UKOG (taken over from none other than Wizard) that the legal challenge has stopped them - that's your opinion and has never been cited by UKOG as a reason for inaction.

You only need to look no further for a reasons than UKOG's failure to do any work on the Kimmeridge (including plans to deepen HH-2, sidetrack HH-1 and dual complete HH-1) following the June 2019 report and for the Portland the performance of HH-1 in production, and the overwhelming water influx in HH-2z to understand why UKOG doesn't seem to think it's worth drilling at HH. Just DL who's probably worked out he can hype the farm in to raise some cash and flog some PPP shares - who cares what the result of a drill is - certainly not DL, SS, you, insidious, or me. But time is running out to acquire the 3D this year.

Adrian,

They had a huge amount of core available from BB - - yet apparently failed to do a basic test of acid strengths on it - then kept repeating it even on newly perforated intervals.

Then in July 2019 after a lot of testing UKOG had a report done by RPS which assigned 1.4mmbbls 2C resources net to UKOG at HH. Apart from the resources nobody outside the licence group know what was in that report but whatever it was UKOG then didn't drill HH-2 through the Kimmeridge as planned for logging, failed to sidetrack HH-1 into the Kimmeridge, nor dual complete HH-1.

Alba who will have all the HH reports, the FDP and the decline curve internally generated for the Portland seem to be sceptical HHDL will ever make enough profit to pay back their loan.

Yet 'SS told me' years ago when he knew you were UkOG's number one ramper - and even you have had 'road to Damascus' interludes when the scale of deception got to you - or at least your 'investments'.

You'll note is quoting a lot of UKOG RNS, many superceded by further testing - especially the Kimmeridge at Broadford Bridge and Horse Hill.

Perhaps he'd like to explain why in the past UKOG RNS have been so spectacularly wrong for every activity that has actually reached some sort of conclusion - and why any claim should be believed now without question, or in the case of Pinarova expect a positive outcome where even UKOG hasn't claimed that the upcoming test will be successful?

For those of poor attention span the simple fact is UKOG had a geologist on site who smelt oil whilst the Germik was being drilled and an oil emulsion returned to surface when 9 5/8" casing was inserted. UKOG didn't mention either in the 2 RNS following each event and even tried to pass off the oil as coming from the section they drilled next - which also lead to false optimism about the test of a Hoya interval that had only oil in cuttings.

My previous, longer, post:-

'Whilst UKOG are now all over the oil smell and oil returning when the casing was inserted - in the RNSs immediately following the Germik being drilled (13 April) and the casing being run (18 April) there was no mention.

To recap for those excited by today's RNS:-

The first mention of the oil sample (bottle with mostly water and some oil) was in a tweet just before the swab test of the Hoya section, having just drilled it with oil in cuttings (21 April). The sample wasn't attributed to when the casing was inserted or the Germik, and the tweet was described as 'urgent' as if the sample had just been recovered though it must have been recovered some days earlier - Lenigas was fooled into thinking it was from the freshly drilled section:-

'David Lenigas@DavidLenigas Apr 21

'Brilliant. This is amazing oil from @UKOGlistedonAIM #UKOG quick look see from their ~50m of oil shows in their new #Turkey #oil well"

It was only later did UKOG mention where this oil was from, and it was not from the 50m of oil shows that had just been drilled.

The swab test was a failure and only after reaching TD with no mention at all of the primary 'amplitude anomaly" target in the RNS (3 May) did UKOG remember the well site geologist smelt an oil odour during the drilling of the Germik weeks earlier and UKOG issued another tweet showing the same oil and water sample, but now attributing it to when the casing was inserted.

Tweets àbout testing followed then 3 weeks later (23 May) finally UKOG claimed the perforating guns had failed to penetrate the casing and they would seek bigger guns. However in the interim report (26 June) they suggested that the test may have not been invalid,'

'Says testing will cover the section where strong oil odours were recorded over a 12-hour period during drilling.'

Odd that they forgot to mention it when they had just drilled that section, RNS 13 April:-

'UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that Pinarova-1 has now reached its planned 9⅝ inch casing point at 291 metres below surface, several days ahead of schedule. After running and cementing casing, drilling of 8½ inch diameter hole down through the Hoya target will commence. It is planned to test any zones where good live oil shows are encountered prior to reaching the estimated total depth of around 500-550 metres. UKOG's geologist remains on site to help describe Hoya reservoir geology and to identify any live oil to surface in drilling cuttings and/or mud.'

Surely if the oil smell was significant it would have been mentioned?

Had to wait until the 3 May RNS for UKOG to mention the oil odour, just after they'd TD'd having drilled the primary target:-

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

The claim that none of the perforating attempts worked is because:-

'No flow or injectivity within the cased hole test zone was observed and down hole pressure gauge and casing collar locator data confirmed that the small 4.5-inch perforating guns had likely been of insufficient power and/or proximity to the casing wall to penetrate 9⅝ inch casing and provide contact with the formation.'

But a tight section could display the same lack of pressure change / flow or injectivity. They go on to say that it's an interpretation and the claim the tests were invalid needs further testing:-

'The tests are thus interpreted to be invalid until such time that larger perforating guns can be deployed in the well to establish proper contact with the formation and the potential hydrocarbon prospectivity correctly assessed.'

So initially the oil smell was unmentioned until no other interval had anything slightly positive and then uncertainty the first tests weren't valid.

Taverham,

Either UKOG's management are not very good at their jobs, as it's been pretty obvious that the projects weren't very good (as predicted by many posters here), or they knew the projects weren't much good but were happy to promote them as transformational or of national importance to pi knowing that. Though not having vast resources it isn't really surprising that securing decent projects was difficult.

The Weald

The Portland was known to be fractured from the 2016 testing, and producing from a limited zone early in the extended ewt, but the fracturing was not mentioned again until fractures not only swamped HH-2z with water but are also restricting production from HH-1 because of water production. The Kimmeridge, a source rock, was (and is) guaranteed to have shows - but the vertical extent of the micrite 'reservoir' is limited though the Nutech report included oil in the shales and compared it to US unconventional reservoirs that may not have been analogous. In the tests it probably produced from fractures but UKOG was highly selective in what flow rates were quoted - often initial and early in each test period, and short term.

UKOG has an unpublished RPS report dating from June 2019 assigning 1.4mmbbls 2C resources to UKOG in the Kimmeridge at HH - without any informationor justification - but after that report UKOG stopped any further examination of the Kimmeridge, not deepening HH-2, not sidetracking HH-1 nor dual completed HH-1.

Turkey appeared to be rushed into before news of HH-1 water production broke in 2020, fed to them by Xodus who prepared a sales brochure for AME.

Hyped with talk of transformational resources, large Kurdish fields and an adjacent field, E Sadak, that had a well that flowed initially 1300bopd. The truth that E Sadak wasn't great was revealed in early 2021 when scout reports revealed high decline in wells, wells missing targets and production volumes. According to AME in the 2022 Annual Report total field production is now 250bopd.

The Basur-Resan closure was poorly defined (Basur-3 missed it) and the Resan area was more recently described as risky due to water production. If they didn't fully research what AME knew when they entered into the deal and didn't know these things it would be negligent - though knowing these things and suggesting that the Kurdish fields were analogous would be.........well I'd better not say.

They are now chasing rainbows having found oil in a shothole to the north of Basur.

Loxley has been on offer for farm-in for over a year no takers. The legal challenge was defeated in July. The CPR has warnings, a significant error and meddling from UKOG.

Now they're pushing the Portland gas storage for all it's worth..............

Insidious is right to dump any shares before any of the current planned wells are drilled on any P&D - just needs to hope YA / Riverfort doesn't get there first.

Insidious,

and what evidence do you have for either 'Last chance to get in at this price', or any reason to 'not want to be out of this over the weekend' - you have often said that investing in AIM and AIM oilers is very risky - so you can indicate why this is the last chance to buy at this price, or what exactly will happen 'over the weekend' - it's quite possible any news will be as uninspiring as today's RNS, or even yesterday's 'tweet' (X?) about an encouraging meeting with the Energy Minister about the Portland project

UKOG seem more interested in providing gas storage for 2050 than getting on with what presumably most have invested for, which is quick return commercial oil discoveries.

I'm sure at some point the herd will arrive, and just as fast depart on any of the upcoming possible near term news that won't be substantive like a successful well.

Whilst UKOG are now all over the oil smell and oil returning when the casing was inserted - in the RNSs immediately following the Germik being drilled (13 April) and the casing being run (18 April) there was no mention.

To recap for those excited by today's RNS:-

The first mention of the oil sample (bottle with mostly water and some oil) was in a tweet just before the swab test of the Hoya section, having just drilled it with oil in cuttings (21 April). The sample wasn't attributed to when the casing was inserted or the Germik, and the tweet was described as 'urgent' as if the sample had just been recovered though it must have been recovered some days earlier - Lenigas was fooled into thinking it was from the freshly drilled section:-

'David Lenigas@DavidLenigas Apr 21

'Brilliant. This is amazing oil from @UKOGlistedonAIM #UKOG quick look see from their ~50m of oil shows in their new #Turkey #oil well"

It was only later did UKOG mention where this oil was from, and it was not from the 50m of oil shows that had just been drilled.

The swab test was a failure and only after reaching TD with no mention at all of the primary 'amplitude anomaly" target in the RNS (3 May) did UKOG remember the well site geologist smelt an oil odour during the drilling of the Germik weeks earlier and UKOG issued another tweet showing the same oil and water sample, but now attributing it to when the casing was inserted.

Tweets àbout testing followed then 3 weeks later (23 May) finally UKOG claimed the perforating guns had failed to penetrate the casing and they would seek bigger guns. However in the interim report they suggested that the test may have not been invalid,

They also sent samples of the oil from Pinarova, the shot hole and E Sadak (3 May RNS) for testing - but now only mention the similarity between Pinarova and the shot hole oils - what happened to the E Sadak sample? Was it also similar? Would it being similar spoil the story being spun?

Food for thought - It took 2 days for the lorry mounted drill rig to drill down to, and through, the Germik that we're still 4 weeks away from an extremely expensive test that might only confirm that the Germik is tight. Why didn't they slim hole redrill and test, possibly open hole so no casing, or cased using easily sourced perforating guns.

Even when thay do issue RNS they appear to be designed to hide information.

Just comparing what was RNS'd about the oil sample testing in May:-

'As per the RNS of May 3rd, the geochemical analysis of samples of Pinarova oil collected from the mud pit, the nearby seismic shot-hole seep and from East Sadak-12's Beloka/Mardin reservoir, proceeds ahead via laboratories in the UK and Norway.'

With the last RNS in September:-

'demonstrate that both the Pinarova mud-pit oil sample and oil samples from the nearby shallow seismic shot-hole seep are a geochemical close match and most likely originate from the same Mesozoic age oil source rock'

Did they lose the E Sadak sample? are the lab so slow that it took months to do two samples? Did the cash run out to do a third sample?

Or was it that those samples also 'most likely' matched the E Sadak sample which would make it less of a local system and therefore the shot hole oit not necessarily from the new working hypothesis of a deeper accumulation at Pinarova?

Smoke and mirrors, like so many UKOG RNS.

Insidious,

In your visits to the UKOG board you rightly point out that oil and gas exploration is high risk as is AIM. Yet you criticise posters that bother to research the risks and are prepared to write about them and/or challenge posts repeating UKOG claims as if they are guaranteed outcomes. So far any activity that has finished has shown that UKOG predictions are unlikely to be the outcome.

Nobody has made money here by waiting for an outcome so if you are still investing having profited previously surely it isn't because you believe the current activities will be successful, but in the hope that there is news not of success but of an activity that's very likely to fail (Pinarova re-test), or not make much difference (HH-2z conversion, Supreme Court decision) - but will be hyped as if success is guaranteed.

Over the years UKOG gave edited highlights from reports, often without publishing the report so that any likely problems or caveats or weren't mentioned.

Those reports that were published did contain caveats but posters claimed they were there because reports always had them and they didn't mean anything, they could also contain quite serious warnings.

In the recent Loxley CPR there was a statement that the resources calculated depended on the Loxley well proving the gas column. This CPR also contained a significant error that impacted the premise for the GWC in Alfold and thus Loxley.

There is no compulsion to make reports public except for CPRs - I suspect one of the reasons UKOG hasn't commissioned a CPR for Horse Hill since the CPR in 2018 prior to the extended testing despite promising on several occasions on would be done. However in 2019 they had a report on the Kimmeridge done by RPS (2C resources at HH of 1.5mmbbls net to UKOG) and there will have been extensive work done for the FDP for the Portland and more recently developed a decline curve for HH-1 externally reviewed to support their valuation of £0.8mm for that well.

All these unpublished reports would probably enable pi to understand what the likely outcomes are fron further work at HH rather that the recent dredging up of estimates made before the ewt in 2018 / 2019 quoted by DL and his acolytes.

What ocelot doesn't acknowledge is that even if UKOG doesn't have to pay back the loan the money comes from somewhere - and it's pi that provide it by purchasing shares in the market when the loan notes are converted and those shares sold..

But those already holding suffer the loss in value in shares, usually after the loan notes are converted, but this time the SP is nearly 50% down since this 'non' loan was taken out - for £2mm of loan notes. - which is directly linked to the loss in mcap of about £6m. The loan notes can be converted, subject to certain restrictions, at the lowest vwap in the previous 15 days - none of which have supposedly been sold as there hasn't been a TR1.

Of course it was obvious the last time UKOG had a CLN loan that the 'rules' were got round - this time the destruction of the SP by relentless selling which lowers the vwap is, co--incidentally, advantageous for YA / Riverfort.

It's simple. You keep setting up accounts on a site where you got yourself permanently banned for being abusive on the Angus board - after 3 temporary bans for being abusive.

The clue is 'permanently banned'.

You now seem to think that you have a right to return to the board and make all sorts of lies up about other posters you don't agree with, sometimes spamming the board endlessly with nonsense post after nonsense post - and then play the victim because posters then report you.

Desperate that the news you hoped for hasn't materialised since you bought in and there's every chance that the SP will drop if there's no news.

Of course even your claim you're a 'real investor' is a lie - you're just a small time trader - only a couple of weeks ago you said you had no shares.

'now they have the energy miniser backing '

'Can you describe how you came to the conclusion that the Energy minster backs UKEn?'

A meeting with the minister is not the same as them 'backing' the project / company - and SS saying 'it was important to gain the support of the minister....' - is not the same as saying he gave his backing

Ocelot,

'Big oil' is quite smart when it comes toacquisitions, especially from tiny little oil companies. In the 'noughties' they used to buy licences or carry wells to get equity. Then they realised a lot of the companies couldn't afford to drill offshore wells and if they didn't farm in or buy them out they could wait until they ran out of money / lost the licence for failing to complete the work programme. Then they could apply with a well and not have a tiny partner.

The original Portland gas storage and effectively got starved out because the government wouldn't subsidise it and the business model for a small company could not survive the spending years. Let's hope the government subsidises it or the same may happen to UKOG.

'UKEn finds itself in the company of big players' - a bit like swimming with sharks.

'RE: AdrianToday 10:33

Only onces that are desperate are shorts like you Penguins. Or you wouldnt all be so obsessed in me looool'

It wasn't me posting lies at 4:30 this morning in a drunken stupor.

'Celiac

Posts: 58

Price: 0.0345

No Opinion

RE: I bought in at 0.0329Today 04:30

One ofvyou lies imo Penguins ...........' - I won't repeat the lies.

On current levels of BS and lies I suppose you'll deny that post exists?

Perhaps you don't understand how a short works - if the SP goes down you make money, and apart from the past 2 weeks it's been on a generally downward trajectory for about 6 years.

Looking at the SP today I'm not so sure the last 2 weeks aren't like previous periods of relative stability before the SP drops again

Having boasted about your buy at 0.0329p you might look a bit (lot) stupid if it drops now, you need to hope that SS who you've said some pretty nasty things about pulls a rabbit out the hat.