Member Info for Penguins

Becalm,

Things are only cheap if you can demonstrate they are worth more.

Can you?

UKOG with placings have proved that their shares aren't worth what investors paid for them in the open market - and then investors seem to prove what the placees paid for them they weren't worth.

UKOG's market cap has always been far higher than any tangible assets. In the accounts the total assets valuation depends massively on intangibles - kept high by not concluding projects so their past costs don't have to be written off.

Ocelot,

Can you explain why UKOG can't announce it is in negotiations regarding the pre-planned farm out, posters and tweeters suggesing at the time.it was also about to be signed up Perhaps you could outline what might be so delicate they can't even mention negotiations are happening.

Didn't Angus announce that during the Saltfleetby / company sale process the number of companies showing interest.

They don't have to mention names of the interested parties - UKOG not announcing what would be 'good news' is unusual though.

Since July the only UKOG tweets have been about the Portland project which will take years to be operational even if their timelines are met - has similarities to the promotion of the Kimmeridge with a report by EY which kicked doing anything profitable into the long grass - yet another jam tomorrow promotion.

As usual you are making things up:-

'Penguins you say no RNS saying this'

Yet what I posted was:- 'I'd look at what UKOG RNS which has been zero recently about drilling at HH'.

So no I didn't say 'no RNS saying this' - I don't consider May, 6 months ago, recent.

and I'd look at the weasel words they used - 'a review of the viability' - words are cheap where UKOG are concerned - how many wells have they claimed they were going to drill by now - there's 2 nice gantt charts in the 2018 corporate presentation with a total of 10 wells plus the HH-1 sidetrack by end 2020. They drilled HH-2/z and got AME to drill Basur-3 in 2021, both failures - of course there was covid - but after H-2z everything else wasn't happening anyway.

SS said it was just a matter of not using strong acid on the Kimmeridge and it would be fine - yet instead went to Turkey when the HH site has multiple well permissions - I don't accept that the Finch case impacted their ability to proceed - and the follow up well would be drilled up dip when the viability of the Kimmeridge is supposed to be not structurally controlled - I wonder what that 2019 RPS report said about the Kimmeridge and what UKOG really think of the water injection - they don't seem to say much except about saving water disposal costs and vague pressure support for ultimate recovery.

and if you say you're not Adrian - you sure 'sound' like Adrian, have the same traits and conversation pieces.

anyway I'm not spending all day answering your made up stuff because you are desperate to sell - and think by constantly lying about other posters you'll discredit what they post.

Did you sell and buy back in on the dip?

Cat,

Using Drill or Drop as your information source is like going to an anti-vax site for information on vaccinations. They try to make it sound like UKOG will be doing all the work they have permission for to stir up the locals.

I'd look at what UKOG RNS which has been zero recently about drilling at HH. As for the conversion of HH-2z let's see. Every time UKOG send a few trucks into, or move stuff about at, HH it's about to happen, like H2 last year or this July.

Yep,

and they've had those permissions for a long time 'cat'. In fact there's a bloke on twitter who's being saying the HH-2z conversion would be soon for more than a year.

UKOH has to test the injecting before submitting further documentation. The NSTA will also be keeping tabs in their role of maximising ultimate production rather than daily production. Let's see what happens injecting from a well location originally planned for production in a restricted reservoir layer in a fractured reservoir.

Nothing likely to go wrong with that considering UKOG's record.

You'll notice that apart from claiming something about letting the oil settle out of the water (well I think that's what he meant) your mate on twitter didn't dispute that two out of thee six tankers in two weeks were contaminated water as both those tankers clearly had 2W hazard plates.

2 oil tankers a week, when one is a vacuum trailer with reduced capacity means less than 400bbls of oil per week which is an average of less than 60bopd.

Cat,

I thought they were predicting oil production, not total fluids.

Ocelot,

aren't Xodus the company that predicted 720 to 1080 bopd from HH-2z, or produced the AME sales brochure for Resan Basur and obediently calculated the volumetrics for Loxley having previously refused to review it in the 2018 CPR because of issues with the data set.

Reminds me of the BS EY Kimmeridge report or the report on Kimmeridge production sites across the Weald.

Pity they didn't issue the RPS June 2019 HH Kimmeridge report which would have been based on test data, or any reports about the Portland at HH after the ewt - or even a production profile or details of expectations for an injector, or the Xodus sales brochure for Turkey, or failing that the pre drill subsurface maps for Basur-3 prior to drilling

You keep repeating UKOG PR and of course you don't want anyone to look back beyond Wednesday this week as if somehow the failure of Basur-3 has no bearing on how good the Turkish licence is, how poorly HH-1 has performed vs all the claims and expectations issued by UKOG and the complete silence about the Kimmeridge, or the previous drilling at and around Godley Bridge as if Loxley is guaranteed success.

Perhaps they are about to reconfigure what was going to be the 1000+ barrel producer as an injection well, although it isn't guaranteed to work as the well was not drilled for that purpose and the reservoir is obviously far more complex than originally thought with a limited producing interval and fractures, some obviously reaching down to a higher pressure level and acting as conduits for water.

Or perhaps the farm out of Loxley - so good UKOG claimed Basur-3 was better and they continue to pour money into Turkey rather than drill it themselves.

Or propose a project that will cost £500mm plus, and require years of work and the reason why the original project didn't proceed was because without subsidies it was uneconomic.

Ocelot,

Apparently there's work ongoing at Horse Hill which, according to your board buddy (when he sneaks back here), involves expensive kit. They want to drill Loxley, and so far no takers 4 months later to the pre-planned farm out, there's AME to pay to get the phase 2 seismic processed and interpret the new seismic and the possibility of another well in Turkey needing a new site built, there's all those consultants working on the Portland project and sending a report to the BEIS and all the other costs of running a company - even SS's salary.

But looking at the tanker count it looks like 2 oil tankers and one waste tanker a week is the norm - which fits the pre July workover production of ca 60bopd - as often one of the oil exports each week is also by lower capacity vacuum tanker.

HH1AN2,

Shysters, you mean like your buddy who tries to hoodwink 'investors' by being economical with the truth - feeding posters tanker numbers (while not mentioning every third one is waste, suggesting production has increased when he's well aware there's only 2 oil tankers a week. I notice he hasn't mentioned what he thinks production is now - leaving it to others to miscalculate

Of which 2 were waste the first tanker was definitely waste on Monday this week, and the secondm tanker videod on 14th November was also - and the oil would have been produced over a much longer period.

So what do you think the average bopd is going to be in November - if you're still here in 3 months or so time we can see whether your guess was right.

I'm going for about 60 bopd or more or less the same as before the work in July.

'Some mentioning drilling equipment.'

It's quite funny seeing someone who knows zero about what they're posting about trying to ramp.

Drilling equipment - so what are they going to 'drill' ells?

UKOG are not going to drill anything, and @davethedrill1 has no idea what's in the lorry - it's all guesswork to try and get the SP up so he can sell - probably has already.

Don't trust ells opinion - bought at 0.09p after the July placing when anyone who knew anything about UKOG expected it to go much lower - and it did. Now ramps desperately - lucked into contributing to a P&D today based on rumour and another lowest SP ever at <0.06p.

Will it fizzle out tomorrow or will there be a RNS, that is the question?

MickR

There 'may' be news coming, we've been told by posters it's going to be 'soon' for months now. But that level of buying is pi - the shares are nearly 1,500 to the £.

Classic P&D as the share dropped below 0.6 encouraging more all time low buyers (sound familliar ells, except twitter is busy) and the traders stirring things up.

Let's see what this closes at when all those sub and just above 0.06p buyers bail out.

Probably still thinks there were two oil tankers yesterday. But then again does anybody believe his I had a quick peek?

Cripes, Mr desperate posting more and more green BS and then telling everyone here it's green BS.

Looks like he's heading for another reincarnation as the guarantees and wrong predictions pile up.

Ells,

You're the expert at blowing up your account - deleting yourself and then returning- or else your first post with this name is a bit odd:-

ells_valexpert
Posted in: VAL
Posts: 1,467 Price: 16.75
No Opinion
Well well well...24 Jun 2022 16:44
...my prediction came true but no one listened

You did explain why but the post has been deleted - something about things getting g 'difficult' and being ganged up on. Really surprising for such a modest poster!

'If the tankers are now all oil tankers maybe the water injectection system is up and running'

They aren't, and it isn't. If you're having difficulty seeing the hazard plate on the back of the first tanker in Adrian's video here's a zoom in on it :-

https://freeimage.host/i/HJOyikQ

and this is the full video:-

https://twitter.com/i/status/1594746106541494273

See there's plenty trying to muddy the waters - they should be embarrassed.

The second tanker shown leaving the gates has 3WE plates - not on a vacuum trailer - crude, not waste- though thay have been turned back from the depot before for too high water content.

Arguing about something that is meaningless because even Adrian will claim to 'miss' tankers if the count isn't enough.

That lead to him claiming that production last December and January would average over 100bopd - it was about 60bopd.

I see you've added the share will rerate this month to your cut and paste (at 16:15) - only 9 days left - but that's hoping UKOG put out an RNS that instigates a pump and dump. Question is - will this time be the time the rerate doesn't derate?

Suppose it would be rude not to repeat my reply:-

Usual waffle

'Millions in the bank (2 successive placings this year) - How many millions? First raise appeared to be spent - second raise only for Turkey and keeping lights on.

'Permit to drill further wells on the Kimmeridge @ Horse Hill (increased flow rates expected in Q4 2022 and beyond, lots of oil tankers seen on site early November)' - How many tankers? No mention by UKOG of increased flow rate, permission to drill wells in Kimmeridge - but didn't even drill sidetrack HH-1z 'expected' in 2019 - big issues with Kimmeridge

Water re-injector proposal to reduce waste costs @ Horse Hill - need cash to do this - had permission for months

Proposed Turkey Basur-Resan drill by Q1/Q2 2023 (seismic data currently being analysed) - first well despite being less risky than Loxley drilled in wrong place. No target yet - map on phase one seismic had odd closure inbetween dip lines, closure significantly smaller than previously indicated = OIP volumes reduced.

Farm-out of Loxley gas project (more £££ in the bank) - no, hopefully if they get their costs covered if they farm it out but lose equity = less £££ spent they don't have anyway.

Pre-planned farmout been 'available' for months - no mention of progress by UKOG so far.

Significant infrastructure projects are not government funded and then there is past performance whether you like it or notand geothermal at HH will be low key if it happens as not a 'hot spot'.

plenty of opportunity for P&D's on 'news'. But whether any of these will happen or be successful - who knows - I suppose many don't care.

Here's a few either no longer proceeding or missing in action many claimed to be saviours of the company and worthy of multiple P&D's :-

Markwells Wood
Baxters Copse
Arreton-3
Godshill-1
Holmwood / A24
BB-1y
Resan-6
HH-1z
HH-3
HH-4
HH Gas to wire - money was even raised (supposedly) to buy the generators
Solar
Geothermal
USA

and for the 'unsuccessful list:

BB
HH-2
Basur-3
and just about successful, barely economic (saved by the OP) HH-1.

That's is why many are still bearish - seen so many claimed to be huge projects turn to dust on less evidence of possible failure.

Hoping4theup - most of the 'positives in ells post are just opinions - ie made up driven by hope.

Pboo,

I don't think there's any 'confirmation' it was full of crude oil on twitter.

I looked at the video Adrian put up an hour ago, this is clear enough to see the hazard plate on the rear of the trailer.

The vacuum tanker has a 3W not 3WE 1267 hazard plate. Compare with the video of the afternoon tanker with 3WE above the 1267.

Crude oil contaminated water is carried with 1267 hazard plates - but 3WE becomes 3W.

Here's an explanation from FOTH (Aug 9th):-

'in the event of an accident the 'E' Tells emergency services this is Crude oil and to evacuate the area for 300 meters.

If does not end in 'E' it's waste contamination with Crude oil'

At least Adrian put up the video although it proves the morning tanker was for waste - full marks for that, here's a zoom in to the back of the tanker:-

https://freeimage.host/i/HJOyikQ

It's a bit squashed - but anyone can do the same.

Ells,

how can anyone - even the company - guarantee a share price in the future, although many have suggested a higher price in the future and got it wrong over the years - even those predicting a low have mostly not been low enough.

But the 0.08p was a while ago and didn't happen so what's your guarantee worth?

I suspect it falls into investment advice rather than opinion guaranteeing a certain price - why bother with a hedge - sell it and buy UKOG

Of course SP may rise to that at some point given sufficient 'pumping' on non-news, but it also may not. I suspect you're into the hope phase of investment in UKOG - charts abandoned or ever more outlandish 'modifications', just averaging down and desperate ramping - seen it so many times.

Of course it has been a while since the last raise, 2 months!, and those AFEs and other cashcalls, wages, consultants fees keep on arriving - let's hope they get that pre-planned Loxley farmout signed up soon - the clock is ticking.

let's hope luck rather than 'expertise' comes your way as so far you have been wrong.

Ocelot,

The majority of posts over the weekend have been deleted because @davethedrilll1 who floods the board with his latest attempt at pu ping the SP, making unjustifiable ( because they are lies) libellous, accusations about other posters, doesn't believe any rules, including those of LSE should apply to him.

Doesn't it occur to you that the green boxes are there because the posters don't indulge in lies. Your filter is the exact opposite of what a reasonable person would want to see for a balanced vies.