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The Horse Hill appraisal programme is separated into four phases:
Phase 1 (210 days) – the carrying out of extended well tests (EWT’s) and a short-term well test of the existing HH-1 well to appraise the technical and commercial viability of the hydrocarbon accumulations discovered. Each of the well tests will involve flowing, pumping (as required) and pressure testing with the purpose of evaluating the characteristics of the oil resource that was discovered during the original exploration of HH-1;
Phase 2 (100 days) – this is dependent on the outcome of Phase 1 and may in practice follow Phase 3 below; it involves the drilling of a deviated sidetrack from the existing HH-1 borehole. This will be followed by the carrying out of an EWT;
Phase 3 (110 days) – this is also dependent on the outcome of Phase 1 and involves the drilling of a new appraisal well Horse Hill-2 (HH-2) from the existing well pad. This will again be followed by an EWT.
Phase 4 (45 days) - restoration of the well site to agriculture and woodland, unless a new planning application is submitted.
If the appraisal programme demonstrates commercial viability, HHDL intends to submit a further planning application for a production phase in due course.
All I know the SP is not in good place. Forget about 6bn shares in issue forget about profit just break even and go that's what I'm looking for sadly it's been waste of 1 year I would have earned lot more in interest than what I got here.
We need 200m plus positive volumes for 5 days running and atm even dogs aren't sniffing the shares as atm there is no direction.
If you notice last couple of weeks the volumes very low and majority are sells I'm sure people are selling at a loss maybe small or large dont know.
We need at least 200m daily volume continuously 5 days for it to get to around 1.70p or so and RNS will come first week of June with confirmation EWT ended as per Alba final results update EWT ends in May.
If UKOG was to appoint a new CEO just on change of management and direction the SP will run to about 1.50 as many like I'm sure are tired of same old lines and cocky interview eg cash is always king, you pay taxes on profits etc on share talk it's just ridiculous treating SH like babies and handing out quotes like candies for babies.
Rig wont start until July I bet you this guy has no clue and if we get no news this will touch 0.9 as SP went up crazy in Feb in anticipation of rig due to another interview on share talk when SS said April for rig.
Anyways I want SS to succeed not for him but all the people invested. We could be running this up instead of crawling thanks to SS incompetence.
I dont think SS will bother to do another CPR as the SP will tank like it did in October with Portland 7-11m when the original estimated was close to 35m.
I would be happy get the rigs done that will pump the SP to close to 2p if we are lucky and then flow testing in September if we are lucky and if at all it will manage the 1000 barrels I think it will do around 700 as atm 220 x 3 but with 700 the SP will again tank as expectations are very high. I would say if I get 2.30 I will be out dont care about 4p 5p 15p or a £1 never gonna happen with SS in charge.
Well I will be an idiot which I dont mind it's best to be an idiot with profit or break even than loss atm I'm down a lot so if I was to every see profit human tendency is to cash out as you may never see it again.
Anyways SS has lost credibility at very point or can I say with every RNS as in September he said he will go in long term production with Portland side track in early 2019 and look where we are dont know the rig will come when?? waiting for newton one as suggested on Twitter wait till July then SS spring is over so another false promise orginally April then Spring then Q2 now he will say winter lol.
I have just under 5m shares at around 2.23 after a few average downs that proves how dumb I am buying them last summer.
I just hope and pray 1 day we get to 2.23 so I can cash out. Unfortunately SS is the dumbest person in the world and think market and SH are babies giving us false candies.
Rig was originally in April via share talk then spring now Q2. Rig is going to take 8 weeks so we have 2 of them 4 months gone.
Assuming they start in June come September the well will be ready to LT flow test on Portland then Kim.
He never told us EWT ends in May thanks to Alba RNS.
He keeps buying future assets with depressed shares which others are happy to flog to him. Just imagine if they are that good why others are selling?
SS should stick to oil not stop going on spending spree.
As far as I know this is unborrowable stock therefore cannot be shorted.
Another way of shorting I know is if you hold the stock and expect the stock to fall you could sell and buy back cheaper however it's not the real shorting.
So all the talk of KOOVS being shorted sadly fantasy.
People that hold it are probably selling it in hope of buying back cheaper I dont blame them.
The info you post her SOTY2 there should be an RNS to inform investors what the F they are doing. We get no updates whether store openings, marketing or reducing stock levels we know nothing.
You have to keep calling no body bothers with a call or email. This is not ASOS of India would say dump of India. The only saving grace for us lots is Biyani if he didnt put money Wahid Ali would have pulled the plug on the internet and Koovs would have gone to sleep for good.
The only reason I asked as both CMCX & IG were falling and plus500 was on the up. I tend to follow all 3 to see if there is in common.
Also I failed to understand why this dropped from 533 to 500 odd on Wednesday does anyone knows?
Just got to hold it no other choice if we get a half decent next quarter this will be 800 that's what I hope and think. This stock has been battered way too much first by materially less profit then error in the update and now this.
Just got to sleep for 3 months and hopefully wake up happy.
this will rerate if we get a good second quarter and overall decent interim until then plus500 does not know whether revenue is 200m 150m or 400m for the year so until then we will be killed in this market.
If ODEY increase their stake it's vote of confidence if they sell in order to get the price down and buy back.God help us.