Member Info for Stockraiser

I should add ......

Cased and Suspended = Oil
Plugged and abandoned = NO OIL

again from last RNS - "Hickory-1 well is planned to be cased and suspended"

This is the RNS we want ............and I believe we will get ....

88 Energy Limited Wireline Logging Results at Hickory-1

Wireline Logging Results and Forward Program at Hickory-1

Highlights

-- Wireline logging program nearing completion at the Hickory-1

-- Provisional analysis of the wireline logging program indicates reservoir quality at this location is sufficient to warrant a production test.

-- Forward operations for the Hickory-1 well will now focus on casing and suspending the well.
___________________________________________

But then again, have they not already said (in the last RNS - EXTRACT BELOW) that the well is to be cased and suspended - READ - DIGEST - INVEST.

They've already given us a clue

"Immediately post the well reaching TD, the Nordic Callista Rig-2 will commence pulling out of hole and wireline logging preparations will commence. The logging program is expected to take between 5-7 days, after which the Hickory-1 well is planned to be cased and suspended. All operations, including suspension and demobilisation from the well site, are expected to be completed around mid-April."

GLA SR

https://uk.advfn.com/stock-market/london/europa-oil-gas-holdin-EOG/share-news/Europa-Oil-Gas-Holdings-PLC-Holdings-in-Company/90653662

Europa Oil & Gas (Holdings) PLC Holding(s) in Company
31/03/2023 9:11am
UK Regulatory (RNS & others)

and he's not predicitng share price - GOOD - TFFT

UK Oil & Gas (UKOG) announced that construction of Pinarova-1’s drilling pad and access road has now been completed. Drilling to a total depth of around 500-550 metres below surface is now expected to commence in the first half of April 2023 following drilling rig mobilisation. UKOG holds a 50% non-operated interest in Pinarova-1 and the surrounding 305 km² Resan licence, which also includes the as yet undeveloped Basur-1 light oil discovery.

Comment: UKOG has not only been surprisingly active in the recent past, it has been firing on multiple fronts and geographies.

https://www.youtube.com/watch?v=93lz9k1OYI0

Disappointed - Really?

I'm being offered 0.4655p for £1k shares, and 0.4710p for £10k of shares - are we on the turn ;-)

GLA SR

Exactly Tradehobbs, was it not over £500k?

people coming back, realising SGZ are not going bust tomorrow ;-)

GLA SR

From RNS

"The KUP target at Project Phoenix is planned to be assessed at a later date"

Apologies for typos in my last post - glasses broken ..lol

From RNS 23rd Mar

"The Company anticipates the primary and secondary target zones to be intersected within the next two weeks, before determining whether to drill ahead to the tertiary target and reaching permitted Total Depth"

and .................................

From todays RNS

"Given the results in the primary SMD targets, and to preserve borehole condition (in-line with previous commentary around well execution strategy), the decision has been made to TD after drilling through the secondary SFS and BFF reservoir targets but prior to the smaller and lower priority tertiary Kuparuk ( KUP ) reservoir target. The KUP target at Project Phoenix is planned to be assessed at a later date, subsequent to the proposed flow testing of the Hickory-1 exploration well which is scheduled for the 2023 / 24 Alaskan winter operational season."

M thoughts .........

So they were only going to decide on whether drill to the KUP target and TD after intersecting the primary and secondary zones. However, they have already made the decision to continue to TD after only intersecting the primary zones (enough evidence already?). Now they will not advance on to the lower priority KUP until the PROPOSED flow testing scheduled for later in the year. Sounds to me like they have already made some very positive sounding decisions.

Also, they still have to intersect the BFF target which although has less chance of success at 50% compared to SMD (A,B,C,) at 81%, it had double the mean Prospective Oil Reserves.

Thoughts anyone .....

GLA SR

Gheko - Cased and suspended is not the same as plugged and abandoned, but I think you've already realised that from Skippy's post. Some may have thought c&S was bad news, it is'nt.

GL SR

Trish .....

"A fully executed document is a legal contract that has become effective as a result of the signatures of authorized representatives of the parties to the agreement. The contract could be between two or more individuals, an individual and an entity, or two entities."

and from the RNS .....

"UK Oil & Gas PLC (London AIM: UKOG) is delighted to announce that its subsidiaries UKOG (137/246) Ltd (UKOG 100% interest) and Horse Hill Developments Ltd ("HHDL", UKOG 77.9% interest) have EXECUTED a conditional binding term sheet ("Agreement") with LSE main board listed Pennpetro Energy plc ("PPP"),"

GL SR

"The farmout enables UKOG to move this asset forwards without the need to raise capital, enabling our resources to be firmly focussed upon the appraisal and development of the Loxley gas discovery, our most material petroleum asset."

Incredible - they still keep the revenue from HH1

"UKOG and HHDL will retain 100% ownership and rights to all oil production and revenues from Horse Hill-1 ("HH-1"). UKOG will remain as the Horse Hill and Licences operator."

Are we going also going to get news from Turkey in the next few trading days ;-)

GLA SR

Don't forget these bits ......

"In order to safeguard against this potential shortfall in working capital over the next few months the Directors have determined to take steps to strengthen the Company's cash position. The Company is in advanced discussions with its gold offtake partner to secure a US$500,000 advance to assist with short-term working capital. "

"The Company is pleased to note that a development milestone was achieved, as long hole stope drilling commenced in the first stope panel during the week of 20 March 2023. Long hole stope mining is on track to commence in 8 days time with first blasting."

Oh and the explanation with regards that email ;-)

GL SR

GW71 - "Funnily enough the share drops more. Wonder why ?"

Well it's certainly not due to any volume of trades!

GL SR

Government rejects MPs’ call on flaring and oil and gas licensing..................https://drillordrop.com/2023/03/23/government-rejects-mps-call-on-flaring-and-oil-and-gas-licensing/