RE: RNS15 Jan 2021 07:50
Luckily I have been quietly buying while the the trolls play on here :-)
This is looking good..... very good. If the market wakes up to this statement today we should see a decent rise in the coming days. Or maybe that market will wait for more Turkey oil to surface in the coming months. Once they have proof of concept, as Stephen says, this will scale up very very quickly in UK terms.
Stephen Sanderson UKOG's Chief Executive commented:
"It is now evident that, in the success case, the Basur-Resan appraisal project has the potential to surpass the recoverable oil and gas volumes currently assigned by Xodus to our material UK Arreton and Loxley appraisal projects. It also has the advantage of lower drilling and operating costs and, facilitated by Turkish petroleum law, the possibility to rapidly monetise the success case within a year. For these reasons success could be transformational for the Company.
Along with further optimising Horse Hill and pursuing a Loxley planning appeal, the Company will now focus its efforts in the first half of 2021 towards the design and delivery of the Basur-3 appraisal well. We also look forward to hearing the outcome of our December Turkish new licence application, which could add further similar sized potential into our growing portfolio."
All assets being progressed.... quietly, but progressing.
Hopefully not so many Covid restrictions in Turkey too..... it is all out in the countryside a bit.... a very big countryside!!!... full of oil!!! ----- £££££££££££££