Member Info for Penguins

'UKOG recieved sales income of an average of 11.87 barells a day for MARCH 2023 . Yes or No! If you say no . You are lying.'

Same posters / tweeters that said how quickly Loxley would be farmed out are now saying it has been delayed because of the legal challenge eg:-

'Adrian The Fool on The Hill@davethedrill1

Oct 2, 2022

#UKOG. Announcement re to pre planned Farm out for #Dunsfold/ #Loxley gas and oil drill expected expected soon'

Same is true as to the lack of work because of the legal challenge at HH:-

'Adrian The Fool on The Hill@davethedrill1

May 13, 2022

#UKOG Just bought some UKOG shares.

Let's see what happens at #Horsehill.

I'm thinking Water injector while the oil price is high'

So why was Adrian thinking it was going to happen a year ago?

Notice that Adrian expects others to answer his questions but when it's pointed out that the two court cases are hearings where decisions may be delayed, or that there are huge deductions for OPEX at Horndean - silence.

If the legal challenge was expected to prevent a farm out happening why did UKOG initiate it in July last year? or at HH why say it would be done in 2022?

Adrian,

Despite your calculation of value of any oil produced it's not what UKOG get in cash.

The net figure of cash to UKOG from Horndean 2021/22 was £136,000 - not exactly going to stop UKOG needing to raise being less than 44% of SS's salary to start with.

Claiming Horndean production doubled from April 2022 misses that it halved from January 2022 - a workover happening in April and May.

Nov 2021 - 529 tonnes = 13.3bopd to UKOG

Dec 2021 - 516 tonnes = 12.6bopd to UKOG

Jan 2021 - 471 tonnes = 11.5bopd to UKOG

Feb 2021 - 428 tonnes = 11.6bopd to UKOG

Mar 2021 - 395 tonnes = 9.7bopd to UKOG

Apr 2022 265 tons 62.65 BOPD UKOG 6.26 BOPD

May 2022. 274 tons 64 BOPD UKOG 6 BOPD

Jun 2022. 412 tons 100.66 BOPD UKOG 10.06 BOPD

Jan 2023 516.5 tons 122.1 BOPD UKOG 12.21 BOPD

Feb 2023 442.3 tons 115.78 BOPD UKOG BOPD 11.57

Mar 2023 502.3 tons 118.76 BOPD UKOG 11.876 BOPD

It isn't a debate what UKOG got from Horndean September 2021 to September 2022 - it's a fact that is in the Annual Report.

You're guessing what production is now, what the oil sells for, and you're not deducting production costs - which you wouldn't know anyway. So you can 'debate' what any of those might be but it's pretty unimportant against the cash burn of UKOG.

You're very keen on the Pinarova test - any thoughts on production levels so we can see exactly how deluded you are - I'm not expecting it to be put into production, oil smell and emulsion to surface in a zone not expected to be reservoir quality - they may manage to get some oil to surface to excite the enthusiasts - suspect that will be enough for SS to declare it a success.

You may say what you like about other posters - I'm pretty sure you're wrong because you have never posted or tweeted anything remotely close to the truth in your attempts to insult me - and that's not a matter of debate.

Unlucky,

Just remember that positive posters win the prizes for being most wrong on this board - and being 'negative' is relative to this misguided positivity.

If you don't like analysis and just want to'believe' then filter my posts.

Ocelot does apparently and repeats nonsense because he thinks negative = wrong as if the SP has been solidly rising on news of HH, BB and Resan drilling, even when there's strong evidence, often unmentioned by UKOG that they might fail - of course by filtering those nasty 'negative' posters.

Even when UKOG are less positive, as they have been about Pinarova, posters still claim things like 'loads of oil to market' (2 tanker 'loads'?), 'profits will soar', SS says 'Turkey is a game changer' - though that one he's probably said that already.

Unlucky,

You seem to think all those 'predictions' are a 50 - 50 call. But whilst a company's behavior could change (though doesn't appear to have) geology and previous results do dictate what's likely, and what isn't.

Here's an extract from AME's 2022 Annual Report about the Kezer well (written before Pinarova was drilled):-

'Oil shows were also observed at the Germik base limestone interval during drilling a nearby geothermal well (Kezer-1) in 2019. Emulsion came to surface during lowering the 9 5/8” casing to top of Hoya formation.'

Sound familiar, though no mention of an oil smell. Yet until the latest Pinarova RNS there was no mention of the Germik being a possible target in the paragraph about Pinarova-1 in UKOG's RNS (or anywhere before the 3 May 'TD' RNS) - before that it was all about the Hoya and the amplitude anomaly extent - that's now missing from the paragraph about Pinarova-1.

Whilst drilling there can be unexpected things that change plans - but emulsion to surface whilst casing the well and even oil shows in the base Germik were not unexpected but pre-drill not mentioned by UKOG - only worthy of further investigation once the amplitude anomaly primary target (now demoted to an 'and / or') seems to have been forgotten.

RNS 23 May:-

'.......connected to an underlying light oil accumulation lying within the Germik and/or Hoya limestones.'

Previously:-

'.......connected to an underlying light oil accumulation of some 9 km² areal extent within the Hoya limestones, which lie between c. 300-645 metres below surface.'

The only reasons to test that they've reported is the oil smell that was disregarded whilst drilling and an expected, but unmentioned previously by UKOG, oil to surface whist setting the casing. No mention of logs demonstrating any oil pay that would normally help determine where to test - was testing the Germik decided by not planning to test the Hoya having drilled through it.

Unfortunately testing the Germik certainly looks like it's SS's attempt to get a bit more oil from Pinarova to claim an unimportant 'technical', if not commercial, success.

....and commercial success at Pinarova is required certainly for 1 to 4 and probably 6; 5 - Finch loses, but when are the results announced - are the June dates hearings or the decision?

7- is still subject to huge unaccounted for risk - no quantitative risk assessment in the CPR, 8 - already has a huge salary relative to company cashflow, ocelot's quote of AIM CEO salaries was for the top 100AIM Companies nto fraction of a penny failures; 9 - only £250,000 saved a year - cost to do it ££££; 10 depends on hitting decent amount first, see above; 11 - keep on thinking belief has any bearing on success, nor does research but it leads to better understanding of the likely outcomes; 12 - every summer since 2015........for him.

Ells / JR90 / G-Martin,

the last statement - in the AGM notice was this:-

'The planned water injection is designed to reduce operating costs by some £250,000 per annum helping further increase the field’s profitability.'

Not your older version:- '.......by some £250,000 per year and improve the field's oil recovery.'

But you also are making other numbers up - to start with how do you knpw that at the end of 2022 there was £4.6mm?

At the end of September 2022 the group cash was £4.6mm - and there were payables of £0.8mm.

You have no idea what expenditures UKOG have had to make since September 2022 plus the £0.8mm.

Whilst the Turkey phase 2 seismic was shot by then processing would have been ongoing. AME would be interpeting the data and even if UKOG was driving the Pinarova well (which I suspect) there would have been cash calls by AME for their work.

There was also the Loxley CPR - on top of the other general costs of running the business - and consultants fees for the apparently large submission for 6 of the Loxley planning conditions and of course the Portland gas storage project.

I'd be surprised if the end March figures, due end June in the interims, will be as healthy as you think - but we shall see.

You've also edited the statement in the annual report in your post of 19:46- this is what it actually states:-

The Board considers that the current cash reserves of £2.5m and expectations of future revenue and/or fund raises either through share placings, debt or farm out processes will be sufficient to maintain the working capital of the company for a period of at least 12 months from the date of signing the Annual Report and Financial Statements.

How desperate do you have to be to remove the words 'and/or fund raises either through share placings, debt'

You sould be ashamed of yourself

I see Adrian in his new guise (swampbuster) has again forgotten that the revenue from oil sales has large OPEX deductions, the stated £250,000 saving from water injection to start with, plus normal OPEX costs.

'By then we will know the out come of the Dunsfold court case. And then three days later the out come of Horsehill'

.....are the hearings going to have immediate results? Decisions tend to take a bit of time - it's not a council meeting with a vote at the end?

Ocelot

Thanks for the reminder - but they also raised in July (ask G-M!)

'A reminder that UKOG raised funds in September about 2 months earlier than the deadline it had indicated, of mid-Q4'

Also a reminder that they do opportunist raises on unjustified P&D, and they like to keep a cash cushion. There's also the issue that they like raising more than they need in case there's a run of bad news that could make a raise more difficult (or painful for pi).

Beware the large (now they'd need to be huge) 'buys' that could be late reported sells - the number of times that happened during the CLN with posts gleefully claiming huge buys - only to be dismayed a day or two later for the next CLN RNS.

as for this BS:-

'Just to make a very obvious point: UKOG wouldn't engage in additional costs if it didn't believe benefits might flow from those costs.'

Pretty sure that UKOG has several times spent money on hopeless causes in the hope of something positive to report. How long were they trying to perforate the 9 5/8" casing - and how certain are they that they didn't reach the reservoir with osome of the attempts?

There will have to be at least one, maybe soon.

The promise was there's enough to cover the cost estimates they made before drilling Pinarova - did that include the swabbing test, the extra 50m drilled, the extended attempts to perforate and now obtain a larger perforating gun that will apparently need to be imported.

Anything else needing cash (HH-2z reconfiguring, legal and gas storage project consultants and those producing the documentation for the Loxley conditions, general AME cashcalls, salaries, maybe licence fees - and other general costs

I see ells version (at least) 3, G-M, is quoting a mailonline article from 2015 now - billions of barrels I tell ya!

Yet UKOG have 2C gross resources of 1.6mmbbls in the Kimmeridge from a RPS report they kept secret for 21 months - and then only sneaked out the resources in the 2020 Annual Report - instead of the ca 10billion barrels OIP in the licence in the previous year.

It's been proved to be irrelevant (BS) how much oil there is in a source rock - the Kimmeridge shales - it needs to be in a reservoir - and there's not that much oil even in the intraformational micrites that seems to want to be producible after an initial burst.

If there was a decent amount recoverable from the Kimmeridge:-

Why didn't UKOG drill HH-2z into it instead of the Portland?

Why didn't they bother to drill through it to log it when drilling HH-2

Why didn't they dual complete or sidetrack HH-1 before Portland production started - as planned.

why didn't they dual complete the well or just complete it in the Kimmeridge when in 2021 they shut down HH-1 for a month to reperforate the well?

Is it because even though the Portland is dire the Kimmeridge is expected tp be worse?

The forward plan is still:- PPP drill HH-3, a Portland appraisal well, then there's possibly another Portland infill well, then maybe a Kimmeridge appraisal well. Probably all depends on PPP wanting to drill HH-3 after acquiring the seismic and have the cash to do it, and then not finding a water conduit.

'Explain why someone who has been continually accused of being negative is still being negative years on when they supposidly made lots of money on the pumps. You just wouldn't stay around.'

I've been here long enough to remember the last 'pump' attempt and the one before that which was more successful even if UKOG weren't which was in April just over a month ago........you know when you as JR90 claimed the SP drop that happened before the IG RNS the same day was caused by IG selling 2 working days before......nothing to do with the swabbed test only testing a little formation water.

nailed it.

Of course you keep on closing your accounts to remove your posting history - only one removed from Adrian's knowledge that his posts will be removed. Not sure what either of your bizarre strategies of constantly making stupid remarks and lies about other posters hopes to achieve but it certainly motivates me to keep posting......

I'll repeat something different:-

'The share has lots of catalysts to look forward to this summer’

Plenty of opportunities for pumps – and buy back on the dumps when nothing, or failure, happens.

‘Current cash reserves £2.4 million (2 successful placings in 2022) PLUS £4.6 million funding to study Horse Hill in 3D’

Cash reserves quoted a complete guess with zero calculation. There is no commitment to spend 4.6mm by PPP (assuming they can raise the cash) when the deal is confirmed they will acquire 3D later in 2023 – they can then choose to drill HH-3 or not.

‘Permit to drill four more production infill wells on the Kimmeridge *Oil Receipts £££ in conjunction with PPP following their flow tests (HH-3 next up)’

Permission for more wells at HH has been extant since 2019 – HH-2z example of what can happen if water filled fracture encountered, HH-1 exmple if water filled fracture nearby. UKOG has had years to drill either Kimmeridge or Portland but prefer to spend cash raised in Turkey. Now chooses to farm out 49% of future oil for what may be only a large contribution to the HH-3 cost – and as above farm-in may not progress to a drill.

‘Water reinjector proposal to reduce waste costs @ Horse Hill’

UKOG quote saving of £250,000, but that still depends on suitability after testing injection. Will need a CTU as a minimum to reconfigure the well and may need to raise to protect cash position with no cash generative

‘Pinarova-1 flow test upon receipt of correct perforation guns (Pinarova-2 to follow)’

The linked presentation is meaningless as the amplitude defined lead is not what is being tested – in fact there’s no mention of what they're now going to test

‘Farm-out of Loxley gas project (Up to £124 million recoverable’

The CPR for Loxley is quite clear that the GWC and extent of the Loxley prospect is not proven and there are issues with some of UKOG’s assumptions - even the £124mm is a value for 2C contingent resources using a gas price UKOG i

Explain why someone who has been continually accused of being negative wouldn't have actually bought low and sold on pumps - including the best spike of all in 2017 (more than once) - rather than yourself who keeps on claiming having done that whilst buying at about 0.09p after the first raise last year while the so called losers were advising it would go lower (it did) and kept on missing sell opportunities because of greed.

Of course you keep on closing your accounts to remove your posting history - only one removed from Adrian's knowledge that his posts will be removed. Not sure what either of your bizarre strategies of constantly making stupid remarks and lies about other posters.

I'll repeat:-

‘The company have a viable growth plan for 2023. There is so much potential @ cash value’

Viable growth plan? Pinarova’s looking lame, HH-2z conversion may save £250,000 a year when (if ever?) fully operational– but what will generate growth before 2024, rather than a P&D? The weasel word is ‘potential’ – one of UKOG’s favourite words to use rather than provide details that could reveal issues with the projects.

‘The real shareholders would like to reiterate that activism against the company is not in OUR interest in 2023’

Understanding whether UKOG’s expectations are likely to come to fruition, and what might (probably?) go wrong, is surely of interest to all real shareholders – rather than just a repetition of either UKOG PR or a list of what might happen – it’s not activism – but so far has been mostly right vs some posters / tweeters expectations.

'The share has lots of catalysts to look forward to this summer’

Plenty of opportunities for pumps – and buy back on the dumps when nothing, or failure, happens.

‘Current cash reserves £2.4 million (2 successful placings in 2022) PLUS £4.6 million funding to study Horse Hill in 3D’

Cash reserves quoted a complete guess with zero calculation. There is no commitment to spend 4.6mm by PPP (assuming they can raise the cash) when the deal is confirmed they will acquire 3D later in 2023 – they can then choose to drill HH-3 or not.

‘Permit to drill four more production infill wells on the Kimmeridge *Oil Receipts £££ in conjunction with PPP following their flow tests (HH-3 next up)’

Permission for more wells at HH has been extant since 2019 – HH-2z example of what can happen if water filled fracture encountered, HH-1 exmple if water filled fracture nearby. UKOG has had years to drill either Kimmeridge or Portland but prefer to spend cash raised in Turkey. Now chooses to farm out 49% of future oil for what may be only a large contribution to the HH-3 cost – and as above farm-in may not progress to a drill.

‘Water reinjector proposal to reduce waste costs @ Horse Hill’

UKOG quote saving of £250,000, but that still depends on suitability after testing injection. Will need a CTU as a minimum to reconfigure the well and may need to raise to protect cash position with no cash generative

‘Pinarova-1 flow test upon receipt of correct perforation guns (Pinarova-2 to follow)’

The linked presentation is meaningless as the amplitude defined lead is not what is being tested – in fact there’s no mention of what they're now going to test

‘Farm-out of Loxley gas project (Up to £124 million recoverable’

The CPR for Loxley is quite clear that the GWC and extent of the Loxley prospect is not proven and there are issues with some of UKOG’s assumptions - even the £124mm is a value for 2C contingent resources using a gas price UKOG insisted RPS use.

‘The company have a viable growth plan for 2023. There is so much potential @ cash value’

Viable growth plan? Pinarova’s looking lame, HH-2z conversion may save £250,000 a year when (if ever?) fully operational– but what will generate growth before 2024, rather than a P&D? The weasel word is ‘potential’ – one of UKOG’s favourite words to use rather than provide details that could reveal issues with the projects.

‘The real shareholders would like to reiterate that activism against the company is not in OUR interest in 2023’

Understanding whether UKOG’s expectations are likely to come to fruition, and what might (probably?) go wrong, is surely of interest to all real shareholders – rather than just a repetition of either UKOG PR or a list of what might happen – it’s not activism – but so far has been mostly right vs some posters / tweeters expectations.

'How are you still negative going into summer 2023?'

– see abov

Demolition,

'We dont know if theres a Turkey failure no body does yet,theres just as much chance it wont be'

That disregards the real risk that a formation that wasn't regarded as a target prior to drilling and wasn't logged open hole, and any expectation that the oil smell and emulsion returning to surface are an indication that what they want to test is any good as a reservoir.

The failure of the test was put down to failure of perforating bullets not reaching the formation (but then they tweeted twice they were continuing testing when they then said they hadn't performed one test) but how much importance did AME / UKOG place on testing this zone until after they had drilled through the primary target and swab tested the secondary target .

It certainly looks like the absence of any comment about the primary target in the TD RNS and the absence of producing any oil in the secondary target during the swab testing made them search for any slightly positive indication to try and find something to test regardless how good it might be.

If at the time the smell and the emulsion had been seen as important surely they should have run logs in the open hole rather than run casing.

Adrian / RedDear1 / FOTH / youngandspecial + tens of other acccounts over the years since being banned as feeasabird (just to be clear unluckyone), he also managed to get his original twitter account banned.

'So Funny watching the greens pretending they are not greens'

But even funnier seeing Adrian pretend he's not Adrian - who last weekend posted over 100 times as youngandspecial - claiming in a lot of those that AME / UKOG had definitely set 7" casing and were testing the Hoya despite UKOG not mentioning either had been done, or were going to be done in the forward plan in the 3 May RNS - confirmed not done in the disappointing RNS on 23 May.

On the theme of funny this was hilarious:-

'RE: Why its taking long for RNSToday 23:50

You'd better hope you can get my posts removed tomorrow Penguins. And that nobody screen shots them and then plasters them all over social media when the RNS drops confirming im right. And you and Mr Contradiction are to rubbish re the 7 inch casing.x'

Just the latest in your wrong expectations to join your fantasy of greens 'under the beds'.

I just hope that anyone buying in June realises that there won't be a Loxley well drilled until 2024 and at the moment UKOG haven't farmed it out, and PPP can choose to not drill HH-3 after acquiring the 3D latr this year.

The over- optimistic posters are now recommending each other's posts - who are they trying to kid, each other? The desperation oozes from every post - ells repeating his posting from last year (now posting as G-Martin) updated by removing things that didn't happen, things that were wrong and now with links to articles about:- geothermal that is irrelevant to UKOG with sites in southern England, not Cornwall, a presentation about licences applied for but not awarded to AME / UKOG, a tweet about a well 50km away so irrelevant, stuff about the gas storage project which if it proceeds won't be operational until the end of the decade and cost maybe a billion pounds.

Perhaps ells is so positive about UKOG because of a lack of understanding what they are doing, and like many positive posters over estimates the importance and/or likelihood of success of many of the mentioned projects and activities.

Ells / JR90 / G-M,

Looking at your posting it looks like you're just making things up and quoting out of date information just to try and get 'investors' to buy so you can sell - and you're still making up stories about other posters - and about yourself.

Most of what you quoted was from a January 2021 RNS. They haven't done anything for 28 months - it's all BS - and you forgot the last paragraph:- '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.'

'potentially transformational initial Turkey.....' proved BS.

As for 'will they come across a deeper underlying accumulation following the 3D study

No - HH-1 was drilled to the Triassic Sherwood - they already know what's deeper than the Kimmeridge, nothing worth testing.

As for a CPR update - the last CPR for HH was in 2018 - it will be a rewrite - since then there's been the ewt, HH-2z and 3 years of production - and they've promised a new CPR at least twice since 2018 - and started making up their own valuation recently presumably to avoid having a CPR done which they would have to release to pi.

You've firmly believed lots of things that haven't happened - and closed at least 3 accounts so your history of wrong predictions has been removed.

Ells / JR90 / G-M,

'breakthough into other sections'

Break through into what other sections? This isn't coal mining, where have UKOG ever mentioned other sections?

You're just making stuff up as you go along.

.......and you still haven't given any details of this 'new technology' that you think is going to help.

As for ' We all know the red tape holds them back'

No it's because both the Portland and the Kimmeridge aren't great reservoirs, they're even letting someone else spend their cash to drill another Portland well assuming the structure survives the 3D. But the Portland has declined to between 50 and 60bopd and not bothering to do anything to do with the Kimmeridge since the 2019 RPS report doesn't seem to suggest the Kimmeridge is any better - more likely worse. The economics of drilling another well that turns out the same as HH-1 are probably marginal - if they hit a water producing fracture like HH-2z it would be disasterous - I've said previously it's a great deal for UKOG but does susggest the likely future production from HH is small.

Ells / JR90 / G-M,

you can keep saying there's billions of barrels of oil in the Kimmeridge in the Weald until you're blue in the face but it won't change the fact that UKOG in their Annual Report have contingent resources of gross 1.6mmbbls at Horse Hill.

Perhaps you could explain why RPS with the ewt data in June 2019 came up with such a small volume which they wouldn't define as reserves?

Whereas you close accounts on a regular basis to remove posts with ridiculous claims - billions of barrels, new technology - what new technology - too late for the smellologging technique perfected at Pinarova.

Perhaps you didn't notice the latest tweet where UKOG boldly state that there's nothing stopping them doing what they want at HH because they have 'full environmental and regulatory consents obtained via lawful process' - yet have done nothing to improve production at HH for 3 years, and it's been over a year since the final HH-2z conversion to an injection well permission was granted.

Instead UKOG prefers to spend any cash raised to flog dead horses in Turkey and give away 49% of any new well's future production at Horse Hill (and apparently 49% of all those 'billions of Kimmeridge barrels!) for what will be a contribution (albeit major) to the well cost of HH-3 (if PPP can stump up the cash for the 3D first, and still wants to drill the well).

nibblypibbly must have prescience that you would be posting.

UKOG has said virtually nothing about what they have learnt about the Kimmeridge despite the extensive testing at BB and HH - but actions speak very loudly - no activity to develop the Kimmeridge including not deepening HH-2 to log it properly, no sidetrack from HH-1 and no activity at BB for over 5 years - yet spent millions on Turkey - now looking like a desperate distraction from not only HH-1 producing water and declining fast as well as doing nothingwith the Kimmeridge.

But there was a RPS Kimmeridge report that UKOG had done in June 2019 which would have been after much of the Kimmeridge ewt - before HH-2 wasn't depened and then HH-1 was not sidetracked. They didn't reveal it even existed until the 21 April 2021 Annual Report (nearly 2 years later), and then only as a footnote to the Contingent Resources quoted for the Kimmeridge of 2C gross 1.6mmbbls.

So the figures of billions of barrels of OIP have no relevance to what might be produced.

The up to £4.6mm from PPP will be spent first on 3D over HH - this is surely to make sure there is an updip target for the Portland HH-3 well. PPP don't have the cash to fund the seismic so either need a good result from a well PPP have yet to reveal the initial flow rates from as they only get less than 20%, or they will need to raise to fund the 3D - and can choose whether or not to drill the well.

Ocelot,

Saying oil is there in any quantity at Pinarova because they smelt it and there was a tiny amount of oil in emulsion displaced from the bore when they set casing is like running through mist, getting wet and being able to wipe water off your face and thinking you're in a lake.

So far with Pinarova

21 May:- they stopped drilling in the hope of getting oil by swabbing a zone with oil in cuttings.

21 May:- On the day they announced they would do that they showed a bottle with some oil, mostly water, without any mention where or when it was recovered from the mud pit - it looked like it had been derived from emulsion - although it was shown at the same time as the swabbing announcement it was later stated it came from the zone with oil in cuttings.

25 April:- RNS, No oil recovered from swabbing, just possibly a little formation water. Drill ahead through primary target then set 7" casing to properly test the Hoya swab tested zone

3 May:- TD RNS - drilled to TD through the primary target and there was no mention of oil, smell, cuttings or otherwise in that section.

3 May:- Except they decided to reveal, for the first time rather belatedly that luckily the well site had smelt of oil whilst drilling above the Hoya, and some oil had returned to surface when they set the 9 5/8" casing - so they would test that zone. No mention of testing anything else or running the 7" casing as in the original plan.

4 May:- tweet with picture of plastic bottle with some oil in it previously shown on April 21, now attributed to when casing was inserted.

11 May:- tweet supposedly showing testing continuing of the oil smell zone

16 May - tweet showing used 4 1/2" perforating guns on site with caption deatailed testing continues.

23 May:- RNS - no testing had taken place according to UKOG because the perforating hadn't penetrated through to the formation.

Maybe nothing they have tweeted or RNS'd was untrue, but there were several instances of what looks like deliberate attempts to mislead, either blatantly- the oil in the bottle, or the 2 tweets of 'testing continue' - or more subtlety - no mention of the oil smell and not mentioning they weren't setting casing and by that not intending to test the Hoya. This lead to many assuming the casing had been set and they were testing the Hoya.

I'm afraid that this whole episode stinks from bigging up the oil in shotholes last year to enable this whole diversion from what the phase 2 seismic revealed )or destroyed) about Basur 4, to the possibility they have in reality 'tested' the oil smell zone but it's so tight that it won't 'test'.

After years of deception right up to now does anyone (apart for ocelot and a few others) take anything UKOG tweets or RNSs at face value?

Ocelot,

It's a survey of the top 100 AIM companies ramge £107mm to £2.6billion!

MaybeCEOs are worth it.

SRBS,

Unfortunately you are pointing out the serial failures following unjustified rises in the SP.

If anything it should be a warning to anyone buying as the SP is rising and traders are encouraging buying because the project is so wonderful - but they are planning to sell before the news that so often is bad. btw I'm definitely not accusing you of that - but there's plenty that do, they usually try to frame me as a greenie or nimby when I am a supporter of O&G E&P which to some will be obvious why.

We've just had two examples of pumps followed by dumps and there's posters already lining up to 'encourage' buying when the Pinarova circus comes to town again or the Loxley and HH court cases which will almost certainly result in no wells being drilled this year and in Loxley's case no production until 2026 (which looking at Angus may be a bonus as anticipation seems worth more than acyual increased production). Expect PR from UKOG about the Portland gas storage project - possibly ready to store gas towards the end of this decade, buy now for 2029!.

Admittedly I also sell on pumps - but at least I'm honest that I don't expect the glorious success that so many others do - but presumably don't believe - just compare the number of posts and influx of posters on pump days with the dump day - where did they all go? - apart from a few stragglers who presumably believed the ignore history this time it will be different, or 'someone knew something' or the 'rumours' were true, or that what UKOG RNS is 'conservative' - when it's never conservative, even if SS claims it is. Then they seem to strive to do unto others what has been done to them - nice.

Mannna,

is there a page in ramping for beginners of daft one liners to post? You and a few others need to move on to advanced ramping - maybe 2p by next Friday - or the classic IWWTBOOTOTW.

AME / UKOG need to abandon the well and stop wasting money, but being as desperate as some here he'll insist on carry on in the faint hope of some crumb of 'success' - I still wonder if UKO are paying 100%