Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The problem with assuming anything at the moment is that we do not know for sure how long they have been working on KL4. The last official RNS stayed that they were about to do a final pressure build up before starting on the KL4 test. How long did that take? The last RNS was on 15th November which is 11 working days to this point. How many of those days were spent finishing off at KL3. There were still waste tankers seen leaving up until the end of this week, along with 12 (seen) oil tankers. How many of those days have actually been spent on KL4. The waste tankers suggest the well is still being cleaned up, and let’s not forget this is the biggest zone. Without official notification hard to know where we are at.
Penguins - I have listened to that over and over again and he’s got it wrong, or we haven’t heard it right.
Think about it £15 -£20 million for each well over a lifetime! They’ve sold $1 million of oil out of the Portland and KL3 purely on testing and fiddling about. It’s per annum.
It was rumoured fairly recently that Jber got caught with their pants down going short on UKOG and went to the company and offered £2m at a 5% discount for shares to get them off the hook. Hence the £2m opportunistic placing. Source I believe was Doc Holiday. True or not, I don’t know, but likely.
MM’s are not bound by the same restrictions and can naked short. All information readily available on FCA web page. Trading patterns since the last RNS have been irregular, so not beyond the realms of possibility that one of them is shorting again. If they are, they eventually have to buy back. Wouldn’t a stellar RNS out of the blue ruffle a few feathers.
As for seadoc, brain surgeon, captain, maths genius and of course spreadbet king. Ignore.
Seadoc,
The scoping report was submitted on 20th September, and compiled a while before. I am not sure how accurate they have to be considering EWT hadn’t started on KL3 at that time and possibly didn’t take into consideration optimisation. I can’t find the 5 year depletion statement, only the report being based on a 20 year period. I take it you based your comment on the section which showed a peak flow needing 16 return tanker trips per day.
Hopefully you have listened to the sharetalk interview which reveals a bit more.
Even if your 3500 figure were to be correct for HH, then let’s not forget, still makes it the second largest onshore well in the U.K. In fact 1000 bopd does that on its own.
Absolutely. I would hope for 500 from KL4 which would give 1200 total.
As you know though there are those on here who will play on the 901 initial flow rates and suggest anything less to be a dissapointment, which of course is complete nonsense.
Would rather underplay so as not to play into their hands.
Seadoc,
Apart from the obvious faux pas with the 1 tanker equalling 1000 bbls comment, your post suggests 5000 bopd is a ‘dream.’
I would agree. 5000 bopd from the current single vertical well is most unlikely. 1000 bopd is more realistic. But, we are not talking about one well. Near future we have one additional well being drilled, plus a sidetrack, and then on to multiple wells, and then on to further licences. It depends on your vision, near sighted or far sighted.
Baits, have to agree with you. Despite what the self proclaimed financial experts who come on here dismissing shorting and manipulation, this is without a doubt being worked down. In whatever form it takes, ie cfd, short downbets, or even accumulation, it is being worked down.
There is no other reason for the drop. All good news, all on schedule, yet a daily drop since the KL3 RNS.
However frustrating, it will have to go back up, and I suspect it will go back up a lot faster than it was brought down.
The Financial Services Authority FSA was abolished in 2013. Two new bodies took over responsibility, one of them being the FCA, The Financial Conduct Authotity.
Anyone investing for a number of years still probably refers to it as the FSA (mistakenly, including me)
So everyone is correct in a manner of speaking.
The only thing that hasn’t changed is that they are still completely ineffective, evidenced by the fact that market abuse is still rife. ‘Toothless Tigers’
Willow, you’re probably right.
I suspect they work together shorting in teams or syndicates. The same names generally appear together whenever there is any news, good or bad. Every one of their posts however moronic will immediate get a like from one of the others. Then you go into their posting history and immediately see what the agenda is.
Scandic,
You list the failures. Now research the companies that were successful and made their way out of aim, of which there are many.
I invested in GWP in its infancy buying in at 60p a share. Sold out at £6 before they left aim, and wished I hadn’t.
I believe this company has the same potential for success. Will it leave aim before its bought out, that’s the question.
Nasty little man. Shareprophets default deramp on just about every share, not just ukog. Placing, or ‘They’re lying’
Wrong 99 times out of a 100. And some people actually pay him money for the privilege of reading his tosh.
The thing is, I’m not a ramper. I’m willing to listen to any contradictory view, as long as it’s well founded. Too many here with obvious agendas which need to be addressed. The fact is, I was furious about the way B.B. was handled, and the damage it did to many many shareholders. I’m also not happy with this company’s pr. which is diabolical.
But, that was then and this is now. HH is getting proved up weekly, with facts. Tankers, flares, oil and flow rates to match. The best bits are yet to come. Many AIM companies would love to be in the financial position that Ukog is in right now.
I agree the share price has been muted because of the last episode, and it will take longer for the market to ‘believe’ Having said that I still think something is going on behind the scenes, and maybe an accumulation.
I personally think KL4 and the cpr on the Kimmeridge are all important and will be the game changer.
So, as a long term holder, your constant aggressive negativity baffles me!
Scandic
Firstly, you have no idea that solo are finding it difficult to sell. I believe it was mentioned that their intention was to retain a significant holding.
Secondly, recent placings totaled £12.5 million for funding into 2020 for current projects. Part of the money raised was also described as opportunistic which could of course be used for anything. Additionally there is now revenue coming in which should increase over next six months. Placing extremely unlikely.
Thirdly, last week you stated that you were a long term holder!
I would actually agree with that, for once. We are still suffering from BB albeit a little unfairly. It wasn’t handled brilliantly so the ‘market’ is still hesitant. Plus, we still have a huge amount of games being played behind the scenes imo.
However, it’s getting proved up bit by bit, and the credibility issue will be forgotten. KL4 and the CPR on the Kim will be turning points.