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Thanks Ocelot - So it's possible then, that there is money set aside for Loxley & IofW which could be used for Turkey. I still feel they are not going to have to raise as much as people think, but then again UKOG is full of surprises ...lol

GL SR

Remember this back in April - "to provide further general working capital to move the Horse Hill, Loxley Portland gas appraisal and Isle of Wight oil appraisal projects forward, UKOG has raised £4,200,000 through a placing (“Placing”)"

I realise that £1.92mm of that was to repay the convertible loan note, and some has (lost track how much now) gone to the purchase of equipment, but could they use the money set aside for Loxley and IofW for Turkey (if there is any left).

Just a thought

GLA SR

Don't AME own 2 rigs - IDECO H-725 and a SKYTOP BREWSTER RR 750.
Surely they'll use one of those for drilling - got to be more economical to use their own.
GLA SR

Ocelot - it's the anticipation of the possibility of success in Turkey that will push this much higher.

I also believe that there will soon be an unexpected positive announcement !! Not sure what, maybe we don't need that much of a placement, maybe it will not be at a significant discount, maybe SS will make a big purchase - but have a gut feeling something is coming.

GL SR

PW - have you tried buying some this morning - it's very difficult.

Can sell £10k worth very easily though, and at a price over the bid ;-)

GL SR

George Frangeskides, Executive Chairman, commented:

"We are encouraged by the Operator's revised strategy for the exploitation of the Horse Hill Oil Field. Their confirmation of the connected oil in place volumes of 7-11 million barrels from the Portland oil pool alone highlights the untapped production that remains in the Portland, production that cannot hope to be fully realised from HH-1 alone. The plans, therefore, to drill another two vertical wells up-dip of HH-1 are welcome, not least in the light of the sustained rally in the oil price over the past three quarters."

"Also encouraging is the Operator's reaffirmation of the potential of the Kimmeridge oil pool. HH-1 has already proven the Kimmeridge's ability to contribute substantial production to the overall field, so there is certainly merit in testing the Kimmeridge's producibility from a new vertical well. We look forward to the Operator delivering on this revised and reaffirmed strategy for enhancing production and delivering on the inherent value of the Horse Hill Oil Field."

UK Oil & Gas PLC Horse Hill oil field update

https://uk.advfn.com/stock-market/london/uk-oil-gas-UKOG/share-news/UK-Oil-Gas-PLC-Horse-Hill-oil-field-update/84101181

Bought in yesterday (lucky) - bought more this morning, but had to use a limit order.

Target 10p

GLA SR

James - "but I can’t help myself from monitoring even though it makes no difference!"

It will take over your life and make a difference to your health in a matter of years - believe me ;-)

GL SR

DT - You're right re: Canaccord holding 5%, but I don't recall ever seeing the website updated to reflect this (unless someone has a screenshot to indicate different to that) - To my knowledge there has not been an RNS to say they've reduced, so we just have to take they are still holding. If we had an RNS this week to say they've increased further, now that would certainly give the SP a boost ;-)

GL SR

That's pushed the volume up a bit ......

What now ??????

and .....

Rejecting two planning applications against the advice of officers has seen Arun District Council accused of ‘unreasonable behaviour’ and facing thousands of pounds in costs.

https://www.littlehamptongazette.co.uk/news/politics/arun-district-council-faces-thousands-costs-after-rejecting-two-planning-applications-3080934

Same will happen with SCC re: Loxley, but it will be much more than £33K

Remember ..........

"Leading Counsel has advised that there are strong grounds to expect a positive appeal outcome, as the cited grounds for refusal are in direct conflict with both SCC's Planning and Highway Officer's reports and the Officers' two separate recommendations for approval."

Happy New Year to all ;-)

Volume - 110mm in the first 25mins - bodes well

GLA SR

SSShhhhhhh

Well said SS ......

Stephen Sanderson UKOG's Chief Executive commented:

"Although not ideal in terms of speed, the appeal process at least ensures Loxley's case will be assessed by a competent and independent inspector who will deliver an evidence-based decision that is not unduly swayed by unsubstantiated and emotive local argument.

We trust that any future decision will also consider the needs of the many who could benefit from a successful Loxley project's affordable, low-impact, low-carbon energy, as well as those of the privileged few."

and the SP is stuck ...lol

GKB47 - "By the way I never saw a TR-1 for Cannacord dropping below 3% yet they are not listed as a major shareholder."

I don't think I ever noticed Cannacord listed as a major shareholder on the website, only in the TR1 when they were at 5.41%. Not noticed another TR1 declaring a position below 3% - so I'll take they still hold.

30/10/2020 Low of 0.13 =
02/11/2020 Low of 0.13 = Triple Bottom ???
27/11/2020 Low of 0.13 =

Maybe 13 will be lucky for me this time ;-)

0.1414p

GLA SR

Is this not the same reason Ms Finch was using ..... Remember - "Her lawyers say the council's environmental assessment should have considered the "full climate impact".

"Campaigners say the tunnel should never have been proposed without a debate on the projected CO2 impacts, and have demanded the government freeze all projects that will increase emissions."

https://www.bbc.co.uk/news/uk-england-55202801

No wonder it's being said that - "The Horse Hill judgement could have huge consequences for similar planning applications nationwide."