Member Info for Redheadedrager

I’ll take 5.4p

THETHINICE

Judging by the number of responses to fjones40’s previous prediction tables, I’d say that it is a good idea, a lot of people are interested and the timing would be about spot on.

Cheers

Red

Yes JayKay1 that’s the one.

That’s before extending the length of the horizontal, increase in depth of Portland before oil water contact and better than expected results from coring . . .

Look we’re not going to agree on this. That much is obvious.

So, you stick with HUR - where you’re obviously invested.

I’ll stick with UKOG. That’s where I’ve put my money.

Have a pleasant evening, I have a long day of work tomorrow - Halifax and back in a day from Bristol. Killer. So I’m stopping posting here. For now.

Cheers

Red

JayKay1

Read p.10 of UKOG November 2018 presentation. It’s all there.

Cheers

Red

JayKay1

Recently approved PP for up to six wells at HH. . . .

Let’s see what HH2-z actually produces in about 3 weeks time before writing off the potential of the horizontal.

Same point to Penguins too. I think 5-10k bopd is entirely achievable by end 2020. Based on my interpretation of the test results to date coupled with UKOGs stated forward drilling plans.

Cheers Red

JayKay1

No worries but I honestly think that UKOG will be producing in 5-10k bopd range by end of 2020 easily.

At lower cost, lower risk, lower debt, lower decommissioning costs, lower environmental impact than any offshore producers I can name . . . . Say HUR?

Cheers

Red

Ha ha ha

Well that blows my response out of the water

Never the less, still better onshore production that offshore.

Cheers

Red

Thanks for the info JayKay1

So what you’re saying is that going forwards, UK is going to need to increase its oil production in order to prevent becoming a net importer of oil.

Interesting.

If only we had a low risk, onshore, compliant, regulated small cap explorer/ producer about to come in stream . . .

Wait a minute . . .

Cheers

Red

Gee-Whiz JayKay1

Well I did do a little bit of chemistry a while back, yes. Oh and a little bit of mechanical / process engineering too. So I guess I do know the difference. Seems like you’ve been furiously researching though, so I’ll step aside and let you take the class.

Perhaps you can explain fractionation, cracking, use of catalysts, the fact the whilst we do import oil fromSaudi Arabia it mostly for political reasons (Al Yamamah II) and all said and done it’s becoming increasingly unpleasant to continue to do so . . .

Cheers

Red

It was Pizza Boy aka Tom Winfrith on Panorama last night - swear to goodness he had paint all over his slacks. . . Looked a sight . . .

Honestly Penguins

For someone who claims to be invested you do an awesome job of sowing seeds of doubt and despondency in this bulletin board.

Funnily enough if someone flips it around and considers that if the ‘lions share’ layer is easily producing 220 barrels per day in a restricted mode from say the 12 ft thick layer that you postulate, then can you imagine what over 3000ft exposure to that productive layer could generate?

I’m sure that you’ll be quick to come back with a myriad of hypothetical technical reasons why it could never be more than an eggcupful . . . BTW did anyone see pizza it on Panorama last night? What a shambles he is.

The thing is you don’t have all the data. None of us do. So hypothesising why it could never be as good a some think it could be is equally as baseless as those arguments that you shoot down as being overly optimistic.

Cheers

Red

Ha ha ha lse blocked the word C0ck ha ha ha

Yes JayKay1 I did read the link.

It support my point.

Saudi Arabia’s sliver of 3% UK oil imports during 2018 is equivalent to over 8m barrels.

I’d like for UKOG to produce that so we don’t have to haul it through some of the most dangerous waters in the world.

Honestly you need to think.

It’s like watching some take the pistol, open the chamber, place the bullets in individually, lock the chamber, **** the hammer and point the dangerous end at their foot . . .

Cheers

Red

Erm . . . That’ll be ‘Can’t understand why people are against it really’

ROFL

Cheers

Red

JayKay1

Hmmm tbh I think that the UK oil imports from Saudi Arabia, Qatar and Iraq add up to quite a chunk . . . Anything UKOG can do to avoid tankers being attacked and potentially sunk by the Iranian National Guard will be a win for those concerned about UKOGs environmental impact. Producing onshore, under strict UK environmental and local planning constraints, local to the refinery is a no-brainer when compared to the alternatives.

Can understand why people are so against it really.

But hey I’m not a died in the wool eco-warrior or NIMBY.

Cheers

Red

Interesting responses. . . . So the next poser . . . Is it riskier to the environment to produce onshore or offshore?

Cheers

Red

Qwerty59

Was your extensive experience gained in a kitchen or kebab house?

But seriously, good to hear that we an expert on board. So in your expert opinion. Is it riskier transporting oil from the gulf around the straights of Hormuz, or overland from 25 miles away from the refinery?

Cheers!

Red

Agreed Chitty. The next few months could be life affirming for some and hopefully will enable those who have been ‘underwater’ for a long time to be able to surface and get some oxygen in their portfolios.

GLA long term (oh go in then and short term) holders.

CheerS

Red

Oops forgot the 87% ownership thingy - doh - so, what 8p per share ;-)

Cheers

Red

Seadoc and his wonky calculator. . . Bless . . .

3000 bopd at 97.5% utilisation at $65 / barrel less $20 lift costs at $/£ of 1.25 and 32% tax gives roughly £25m profit after tax per annum.

On a forward P/E ratio of 25 which is nominal for an O&G that’s about £600m - roughly 9p per share - assuming UKOG can keep on replenishing the supply.

I doubt 9p in reality but 1.44p

Would love to see how you got the Seadoc . . .

Cheers

Red