Member Info for Phil7390

Couple more dilution fixated individuals added to my filter list today.

Where does that leave PIs? They are getting 51% of EMH for a bargain price are they not?

Death spiral financing can only occur when there are no assets of value available to the company and no revenue stream. Anyone suggesting that is the case for UKOG at this point is talking through the pipehole of their prick.

I'm wondering about the decision not to drill the last 500ft. If SS is confident that this would not pay off economically, what does that actually mean? Does he think he can fill 10 tankers a day from HH1 and HH2z? If there is no need to drill the last 500ft, is there any need to drill HH3 at all?

iBug gets the "I see no ships award" for the year. There is no oil flowing or being sold because ... there is. Jog on.

Were UKOG not scanning as they drilled? Why would additional logging be required?

It's all on here

https://earthquakes.bgs.ac.uk/helicorder/heli.html

Select HORS from the dropdown list. Short period shows nothing. Very long period does have some activity starting about 21:12. But so does the 5th and the 4th at different times, and to a greater degree. One where there is an actual tremor goes off those charts by the way, but other than that I'm not sure they tell you much.

Huge volumes? Limited to 15% of daily volume. Let's try to keep some perspective.

Disclaimer: Past performance is no guarantee of future results.

Interesting that the electronic data shows "less pressure depleted by HH-1 oil production than expected." This seems to suggest that there is some contribution for the other rock layers, and at least some oil is being drawn in to replenish when is being taken out.

Even more reason to eagerly await the updated CPR. Maybe the future tanker movements will be due for an update.

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that its Horse Hill-2z ("HH-2z") Portland horizontal well (UKOG 85.635% net controlling interest) has, to date, successfully drilled 2,016 ft wholly within the Portland reservoir's most oil productive zone or "sweet spot", the presence and quality of which was defined by the HH-2 pilot well's successful coring and electric logging programmes.

Following the fitting of a new rig engine, expected to be completed over the coming days, the remaining 1,200 ft of the planned circa 3,200 ft horizontal section within the "sweet-spot" will be drilled. Horizontal drilling is expected to be completed by mid-November.

Drilling data indicates that sections of possible increased reservoir quality over that seen in HH-1 and HH-2 have been encountered within the sweet-spot. Furthermore, mud weights indicate that the horizontal may lie within a reservoir zone that is less pressure depleted by HH-1 oil production than expected. A comprehensive electric logging and extended well test ("EWT") programme will further clarify these potentially positive outcomes.

HH-2/2z, the first horizontal well in the field's Portland oil pool, is designed to be retained as a future production well, capable of delivering flow rates significantly higher than the previously reported 362 barrels of oil per day from the HH-1 vertical Portland discovery well.

Why does it need to prove anything? It will generate revenue. That revenue will fund further drilling. UKOG will continue on its planned growth path. Anyone still doubting the presence of oil and the ability to extract it will still be sitting on the sidelines demanding proof when the realisation hits that they have missed the boat and the SP is multiple of what it is now.

2.98p

bug, any of those pre drilling, just to eliminate any normal daytime activity?

Didn't Bouygues release less than stellar financials and have to liquidise some assets?

I think the vanguard of "the herd" arrived last week - didn't one of them post a thread "Don't diss the herd"? UKOG is certainly attracting a lot of new interest, and I'm sure there are quite a few waiting for an entry point.

Indeed, and it may happen before UKOG accedes to the FTSE for precisely that reason. It still won't change anyone's percentage shareholding or the actual value of the shares they hold.

Thanks for trying to explain your reasoning Vern, but unfortunately it makes no sense. The actual number of shares is indeed irrelevant, and by bringing up consolidation you have just re-inforced that argument. If I has 1% of the shares in the company, and they were consolidated 50 to 1, I'd have 50 times less shares. And so would everyone else. I'd still have the same percentage of the total companies shares. See, irrelevant.

And people spout nonsense about the number of shares in issue. If they are in sticky hands, in volume, it makes no odds.

Interesting link here, not much detail, but claims that horizontal flow rates as much at 17x vertical are already being seen in Tatarstan.

https://events.eage.org/en/2017/horizontal-wells-challenges-and-opportunities-kazan-2017