Member Info for seaace

And when you think about it, once gone, I wouldn't fancy anyones chances at getting in or topping up below 10.
There's only so many left, so if you have done your own research, are satisfied with your findings, time to bite the bullet and commit.
I just wonder how many will come back and moan because they missed out...

And the more they sell the less they have. Winner winner...

Northman.
Suggest you stop trying to subtly deramp as using your post quote,

Should the gas produced start to exceed the capacity of the generator to accept
it then the well rate will be choked back.

This clearly states the gas produced had to exceed the capacity of the gen and until the well flows no-one knows how much gas will actually be released.

Typrical stirrer...

Any sales now will be a high percentage of Bergen mopping up so nothing to get despondent over...

9 BROKEN Yeeeeeaaaaaaa

Tick up'ped

Just because the site is quiet, doesn't mean to say the office is also quiet and everyone is sitting on their laurels.
Updating us with perspective RNS's, planning, form filling, applications to various bodies,organising labour and material contracts, logistics to name a few are no doubt going through the pipelines and with the w/e out of the way it's all hands on deck.
Be lucky...

Hi Dorkingman.
My apologies for my mis-interpretation.
Cheers

Good morning Dorkingman.
You quote 'service companies have delivered the remaining kit.'
Please advise how you know this as I thought I read on here that there was nothing happening on site.
Honest, not a wind up as in Worthing myself.
Cheers

quickpro
There are 14.576 times more shares in UKOG than in Angus and that's without any placings they may put to the market.
I will not decry that there is a future for them but in the event they have a reason to increase their value, where they increase in points of a penny, we on the other hand, given the same circumstances will move in pennies.
The key to remember is as the assets of both companies increase, then the value of the sp's for every million that is generated equates to approx :-
UKOG - 0.00018p
ANGS - 0.26p

When you apply the above then it's easy to see who will give the greatest returns for investments made today.
Also, consider the point, UKOG may wish to conduct a consolidation to reduce the number of shares in issue, and although the M/C remains the same, one's holding is diluted in number equal to the consolidation rate on offer.
If such an event happened, to put it in perspective lets say they do so at a rate of 14.576 to 1 (this is the factor as above for convenience so that both companies have the same number of shares in issue) then if you multiply the current sp with this it equals 28.4p and we can immediately see we are some what lagging which is a clear indication they are either woefully overvalued or we are misrepresented by the market which has to be rectified sooner rather than later.

Simple argument but there is meat on the bones to support why Angus is the better investment.
Be lucky...

No chance willow.
These are some of the known hurdles UKOG have to overcome and hence my reasoning.
1. They have to complete the EWT which I grant you will most likely be before Xmas.
2. Next they have to submit an FDP, but only after the EWT has been completed which has to be approved.
3. The SCC only meet once a month and getting an application in will take time and could be subject to alterations and delays.
4. The OGA also have to approve the application.
All in all they would be lucky to achieve their target within 12 months and one can't take it for granted just because ANGS have their's in place, it does not guarantee UKOG will be so fortunate the first time of asking.
Just my opinion but history will show it's not all straight forward...

Sometimes, there are instances where you can't quite piece together certain information and it drives you mad as you can't quite put your finger on it.
Well, for me, I've just had one of them but thankfully it's all come together.
Before some accuse me of rambling, best you read on and then decide as for me, it's quite a bombshell.

In his latest interview (Vox) stated our Brockham PRODUCTION licence could be used elsewhere and I for one immediately thought of helping UKOG at HH for maybe a royalty payment of some kind which would be great for extra income, but the penny just dropped and now I'm thinking a totally different tune.

At Balcombe, we slugged at 3000 bopd but were restricted because of separator capacity and with the right equipment, this hurdle can easily be overcome.
At Brockham we also find there are 2 wells which can be adjusted to also enter the Kimms and putting the jigsaw together, should they encounter any problems with the Brockham Kimmeridge, they only have to sidetrack into Balcombe and the oil which they know is there, now surfaces at the Brockham site to be immediately sold under the current production licence. In other words, 2 bites at the same cherry.

Now that's what I call in having an Ace up your sleeve.

Be lucky...

Flare stack at HH apparently going mental indicating oodles of oil flowing from the Kimms.
As Borckham is supposedly the same reservoir, it should flow just as much but the big diff is that we can sell all that is produced whereas they will only be able to sell whilst they are testing which won't be for much longer...

So Max, you think PV is thick and stupid enough to do a placing with a 25%+ discount to today's price bearing in mind he has just intimated on Vox he thinks the sp is too low and does not represent the Company's overall value.
Best you wait for it to drop then and that way you can pat yourself on the back for being so smart.
MUPPET...

MM's now paying 8.5355 ...

....

waist.
Are there 'tenners for men' ?
lol ...

Bloody hell.
So Mr Vonk says for every 100bopd produced the profit after capex is $1.2m and as there are 3 wells already in Brockham, it would be very easy to turn both the Portland and the water well into Kimm producers.
As he also stated we have achieved 1600bopd from Balcombe, albeit still whilst the well is being cleaned, then even if you average each well with 1000bopd, that's 30 X $1.2 which equals $36m per annum generated which is around our current M/C.
You only have to throw in that little item called 'forward earnings' and this points to a M/C of $540m or put in laymans terms, 15 times today's M/C.
Time to drool me thinks as like above, just suppose each well flows 2 or even 3000bopd and that's not including Balcombe.
Ye Gods.
Be lucky...

Right, lets put this placing nonsense to bed.
At the moment there are only 382m shares in the Company valued at around 7 - 8p.
Next we have to consider that Balcombe is a huge success and using Vonks own words, says that for every 100m bopd it eventually flows it will give a M/C between £25 - £40m.
Now we take a stab at predicting in so much that if the Company does a placing then for every 100m shares which will generate some £7 - 8m which combined with oil money from elsewhere will be more than adequate to move forward.
Some will immediately scream that's a dilution of nearly 25% but somehow forget it only takes a mean flow rate of 35bopd to cover this and knowing Balcombe alone could well exceed a 1000bopd (M/C of £250 - £400m) and that's not including what a positive result Brockham will have.
As I said previously, I'm not concerned about a placing as it's one of the necessities that companies have to adopt but in this case bemoaning and slating the possibility is just fear mongering.
The bottom line is either a placing should funding be required or a JV where we permanently lose a percentage of the Company. Make up your own minds as to which you favour, but I know where I stand which is to stay with the Company as it grows both in stature and in value.
Be lucky...

Having listened to the Vonk interview, I found it interesting how quiet peeps are with reference to our M/C and its worth per 100bopd flowing.
No doubt strides are being made to apply for permission to re-enter the well both for testing purposes and also to fit a larger production pipe allowing the present anticipated production figures to rise.
Couple this flow with the valuation of £25m per 100 barrels then we only need 400bopd to equal UKOG's M/C or a minimum of a 3 fold increase to today's price.
The reason I am mentioning this is IF there are any problems encountered at Brockham, mentally I am prepared for the market knives to come out when in fact in reality, it should not affect us one little bit as the market has not put a value into the SP and logically therefore can't take it away.
Over this last week I consider myself lucky to have topped up 3 times, not for trading but as an investment that hopefully will grow exponentially as the Companies assets expand.
Some are talking about Bergen and the shares they are off-loading and won't commit until they are done or not until a 3% threshold is reached which I honestly can't fathom as it's almost certain the SP will have risen by then forcing them to pay more but each to their own I suppose.
The other point to make is when it is announced work on Brockham has officially started then surely pressure will be on the S/P to rise which also aids the opportunity for Bergen to exit more quickly which results in a positive valuation to the price.
History is a record of who did what and when and at least I for one jumped onto the wagon reserved for pioneers like many of the LTH's here.
Be lucky...