Member Info for pijoe1212

on the ukog web site - reports and presentations link under investors tab.

jaykay..i get labelled a de-ramper on here..i dont care. it has been dreadful to see so many come and go on this BB having listened to the mindless "5p tomorrow" type rollocks...i remain of the view most "investors" (gamblers?) in ukog had not read the CPR and those that do then don't ask for help on the bits they do not understand!

sting ..read the CPR..3 wells in the portland is the limit a Competent Person has decided is the max..not 5 or 10..and even with 3 the decline rates are very high (in the absence of pressure support via water injection).

thks ninvestor. the CPR added useful info to the BB understanding. very clear the cement job was not the issue. in my view (and i have stated this for a long time) the kimm is just too tight for oil production, other than at specific locations where localised faulting has resulted in localised conditions that enable flow. that is what i think has been seen at HH two years back. the EWT will confirm (or not) my opinion that the kimm at HH is small areas of movable oil resulting from localised fracturing resulting from the faulting. now if that proves the case, then it is only by fracking that oil could be produced for any length of time or volume that makes the kimm commercial other than (at best) as a small nodding donkey producer as the portland will be .we will of course know far more in the next few months.

i also find it interesting the comments about the portland being commercial - the CPR in effect states it is from a oil production point of view (and frankly it is not often CPR's are wrong on such matters). so unless the portland EWT troughs up something unexpected, then it is only the costs of the production kit and obtaining consents which would stop it being declared commercial. but i bet the SP heads up following as RNS on the commerciality of the portland dispite there being no investment case justification for any mcap increase.

salmon...as stated (with typo!)..money can be made from ukog shares..buy at the right time and sell to fools...if this BB is anything to go by (and a genuinely believe it is), then there is a large supply of Greater fools and more fools appear with each hype.. investors did not buy the placing..it was flippers using the above trading strategy in my view..

as posted earlier (and often before) the value of the portland can be calculated based on the CPR info. the sunk costs in HHDL is a matter of public record (HHDL accounts at co house - updated accounts due shortly). from that one can readily calculate the NPV of the HH portland, using some guess work on the costs of the EWT and production facilities (inc consent costs).

the rest of the "assets" are kimmeridge which did not flow at BB and the CPR would not put any numbers to the kimm. so the kimm is currently wish and hope not investment fact. the portland does not support the current Mcap..in fact the portland does not even support the £25 to £30M Krakenoil has postulated based on my assessment of the numbers at $75 oil.

i would suggest an mcap around half the current (i.e. an sp of 1p or less) is highly likely unless the kimm yields very good results. but (and this is key)..there i already a large upside priced into the mcap for a successful kimm EWT..given the BB results that can not be assumed (far from it in my view). now that alba have expertise on board perhaps i can have more faith in any RNS than i have previously? we shall see.

having said all that, ukog as a trading share has proven time and again money can be made..but only on the great fool basis not on the investment case.

my point exactly - a traped accumulation. and the cpr tells you how big (small) it is. note the comments in the cpr about early stage water injection to increase the RF...the last thing i would want to see would be early production from the portland without pressure support.. (the cpr and HHDL accounts has the information to let you workout what the overall economics of the portland is without the improved RF. i make it negative having allowed for the costs of the well). of course even with improved RF, it is still far from coming anywhere close to justifying the current Mcap, but may just help keep the lights on for a while.. (by the way, i can see one heck of the planning battle to get water injection consents..)

read that CPR as well as google matters. the CPR is the definitive statement at this point in time. anything else should be treated as "heresay" and its value discounted to reflect that. the CPR is very clear the portland is a small oil accumulation which is normal for uk onshore weald basin. the fact that BB would not flow (and the CPR is very clear this was not due to cementing issues etc) and the CPR authors would not put any estimates to the kimm should be waving big red risk flags..

i remain of the view that far too many "investors" in ukog have not read the CPR, and most do not understand how a CPR fits into the overall picture of micro-cap oil company investing. there was a comment earlier that the portland could be "of national significance" - when that could be true but only if the authors of the CPR are wrong by several orders of magnitude. i note once again the use of the the word "pool" in the latest RNS's (is that a polite form of "puddle"?).

all good with me, and no problem - simple typo. i make them often?!

take care and i genuinely hope hur sees you grand and all other holders.

evening N

did you mean IOG or JOG?

you stating " No oil experience "..did you mean this?

just giving you the chance to clarify your post.

you make a very good point..rbd is not the operator on any well. not the business (investment) case to be so, so fine.

but i agree with the thrust of your comment that rbd are one step away from control. so all investors should understand that ops control risk.

i was encouraged by the co-ceo comments on the strategy ..i remain content.

As to your buy in price, keep an eye on the 50 day MA, as in my opinion your 45p will not be realised.

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i assume you are referring to my post of 16th july (and your response), when i stated:

"now what is my buy in point?..well it is relative to other investment cases. i see an SP of 45p as the min support (over to boyzee to justify or shutdown) and 50p as fair low value. but if other (shares) i rate and follow drop below what i consider as fair value i will buy them instead!"

i recall the hur SP was 52.5p then...

as stated i have declared my buy in point back then (subject to other opportunities) on a strictly confidential basis.

frank......you looked at hydrocarbon capital ltd companies house filings? i have.

double pie and chips for me pls..

i read your "Hot gases are surging from a hole" comment and thought it was a Big Dave L expose...then i realised it was old news..

i 100% agree...but even i sometimes temper how i say it! ok not often! and never to gobby..

to answer your question. NO. (who's they by the way?)

I have a buy in price set in my mind (and one poster here knows what it is via pm when the price was higher) and it will also depend on how other things in the trading pot perform (and core pot as sometimes i "leverage" on a short term basis the core holdings which i am currently). more importantly - as my kids would put it.."are we there yet?" . no i respond but getting close..

you do realise your posts seem normal and a balance against the more positive posts now we have bancos1 enlightening us with his insight and razor sharp assessment and articulation of the investment case?

ricfle

i agree with what you say and also with genghis15...(not sure i am good at fence balancing as I don't do it often!).

take over of teca on the cards you think? ...far better prospects of a return to shareholders than many others i can think of...

wassatt..two responses..one BBM's and two....when is teca ever going to issue an update - they must see we are all very interested....one of the best supported stocks on the LSE BB's...