Member Info for wiltshireman

of the operation seems to be catching up with events. What we really need is a hike in gold price to bring us to the fore bui even without that the production costs are very competitive when compared with much of the gold producer industry.

of dipping in and out of this one and losing money it has to be one of the most exciting of my speculative shares. If nothing else the way things are set now we'll never be short of further news and excitement.

GLA

A memorandum of understanding (MoU) is a type of agreement between two (bilateral) or more (multilateral) parties. It expresses a convergence of will between the parties, indicating an intended common line of action.

Thats not what was agreed last year. This is an entirely different scenario, from contractor to something a lot closer even though presumably it might not have any legal commitment. A helluva lot of difference and lets face it FRR needs money and support, hopefully not in desperation. Overall this seems to me a very sensible 'understanding' with hopefully more to come. Baker is big, big, big player.

https://www.msn.com/en-gb/news/uknews/virgin-jet-in-closest-ever-drone-near-miss/ar-BBOID6A?ocid=spartandhp

https://www.proactiveinvestors.co.uk/companies/news/207499/horse-hill-kimmeridge-might-live-up-to-the-hype-but-commercially-viable-portland-is-an-important-breakthrough-207499.html

Thing is no matter how much information, flow testing, wire-logging, analyses etc etc there will never be enough information for some. Its a good result so far despite all the non-believers and they just cannot ignore the fact that the Kimmeridge and Portland extend all the way north into the North Sea into the giant oil fields of the northern N.Sea. So common sense in laymen's terms would dictate that there has to be potential in the Weald (and come to that the IOW) for further commercial discoveries. The shallow drills have been successful, the oil comes out under its own pressure, not much water to worry about, is of good quality so forget the deeper potential for the time being, and with minimal infrastructure concentrate on what has been achieved so far. The trouble is with such folks there is never enough information to make a decision. Oil drilling has always been speculative and if these merchants of doom were running things the Algy Cluffs of this world would never have discovered the Buchan and giant Forties Field in the Central N.Sea. A plague on their houses.

https://www.share-talk.com/stephen-sanderson-chief-executive-of-uk-oil-gas-plc-aimukog-11th-october-2018/

https://www.share-talk.com/stephen-sanderson-chief-executive-of-uk-oil-gas-plc-aimukog-11th-october-2018/

these days, wonder why? Anything over 1000bopd at HH makes very attractive reading. More wells more cashflow more exploration (if we can still afford it) along with extended reach drilling this will be a money spinner. Only cloud on the horizon is the greenies but then Sandbanks is the most expensive real estate in the UK and extended reach wells virtually under it run all the way from Wytch Farm into Poole Bay. This is despite the rise in sea levels long term as all these expensive properties are built on a spit of sand barely above sea level. So I can't see what grounds the well heeled locals have for stopping anything, only perhaps delaying it, as the effect on their precious property prices is minimal unless they happen to be on the tanker routes. IMO we are on a winner despite all the Barney comments of needing more info. No amount of info will be enough for 'experts' but the Weald will inevitably prove itself in the longer term and the government desperately need more tax revenue to p**s away on Brexit anyway.

https://www.brrmedia.co.uk/broadcasts/5bbe1862269b0c1ded1897a0/columbus-energy-resources-investor-presentation-highlights
https://www.brrmedia.co.uk/broadcasts/5bbe181a269b0c1ded18979b/columbus-energy-resources-investor-presentation

upbeat to say the least and with RNS great news

Has been nodding since 1961 and is the oldest working oil pump in the UK. This fact probably indicates an aversion to investing in a new one because the operator can't afford it. I mean why update anything when you can carry on using it till it breaks. A bit like our transport infrastructure but don't get me on that.

The Kimmeridge layer extends north into the giant Norhern N.Sea fields and where its possible horizontal or extended reach drilling has opened up other prolific subsea production.

So if the Weald comes good onshore production could potentially match some of the bigger fields in the N.Sea with minimal investment and steady cashflow. Imagine producing many thousands of BOPD in the very near future, a promising prize indeed and right on our doorstep without the need for expensive infrastructure apart from pipelines (eventually).The biggest costs are the drilling of new wells but good cashflow should take care of that. Lead time is minimal getting into production and the biggest environmental concerns would be tankers trundling backwards and forwards to Fawley and the fact that oil is probably a doomed energy source in the long run anyway. Meanwhile the UK needs a secure energy source to help pay all those taxes for the government needs to p***s in much the same way as we have with North Sea revenues. Its a disgrace that the UK is the only major oil producer that has no Sovereign Wealth Fund. But then that is the way the UK operates, live now pay later, and who are we to question our politicians who know sooo…………. much more than we do !! As long as UKOG goes up on the back of this further development I'm happy.

if you haven't seen it. What the biggest thing for me is that these wells are not isolated in the sense that its all in the same reservoir and Paul Vonk is very upbeat about the whole area and that possibly and similarly HH. My bet is that the SP will take off, especially given the easy onshore access and future oil price, Reckon they will be netting $60. More wells, more production, more cashflow. Very encouraging for all investors in the Weald. Followed by Zak Mir and PV interview. Next break will be an upbeat interview with UKOG I guess and a good share rise.

https://www.youtube.com/watch?time_continue=83&v=EWorBy1lpJU

Wonder why the reaction is so positive compared to UKOG. I hardly think there is the expertise on here or among the MMs to be able to differentiate the potential at Balcombe being so much greater than at HH. Only thing I can think is that the BOPD is much higher from the test well but there is more water than at HH.

Its early days in both cases but I would have thought the UKOG share reaction and improved sentiment would have been much more positive than it has been given the disappointment of Broadford Bridge being far outweighed by the impressive flow rates at HH.

I would have thought that Cuadrilla might not be the flavour of the month in view of their fracking plans elsewhere.

posted Monday

https://www.youtube.com/watch?v=7p51HfO4cfM&feature=player_embedded

Whilst not specific to UKOG it puts all the Kimmeridge layer oil plays in perspective and the layer extends from Kimmeridge area all the way up to the prolific Northern North Sea oil fields, being a marker layer for all. A bit simplistic but considering Wytch Farm close to Kimmeridge, is still the biggest onshore producer in Europe so it would seem logical that the whole area will come good sooner or later. Interesting point that the WF reservoir lies under some of the most expensive real estate in the world, namely Sandbanks and horizontal wells into Poole Bay have been producing for very, very many years. All this stuff is nothing new but despite certain efforts by many to downgrade the potential common sense would tell one otherwise.

At the recent presentation LC said Steeldrum negotiations were complex and time consuming but was confident they would be completed soon.

And so they have.

LK is proving reliable and ambitious for the company and track record since taking over the moribund LGO has been remarkably consistent and timely. Lets hope it all continues in line with the much vaunted strategic plan.

I have great confidence in our leader who, unlike his predecessor, has been transparent wherever possible and honest with the shareholders. And lets not forget he stands to gain a lot on the back of the company's success.

The price is not directly linked to WTI but Columbus (and other sellers) bench-mark the price received against WTI with the average discount to WTI tending to be around 6% over the past year. The discount is sometimes higher (presumably due to refinery factors). The company have seen it as low as a 3% discount to WTI. Columbus receives the same price as all other parties who sell their oil to Petrotrin, including other AIM listed companies.

is the rise in the oil price. IMO not sustainable above $90 but look at the steady rise and unless OPEC change their mind or Iran is rehabilitated its extremely unlikely for Brent etc to fall to anywhere like the levels where Goudron won't be profitable and that is the lynchpin for further development.

more like Zzzzzzzzzz……. wake me up when something actually happens

me too but still waiting can't get away from the consistent rise though. Lost touch a bit with the 'spectre at the feast' aka Illumina but what is the general feeling. is this still something to be concerned about? That's what got me out because I could see it dragging on and on and dragging the SP down with it. Any comments other than SL upbeat statement earlier this year?

and what's more they have a strategy and they're sticking to it. No plan with NR just firefighting with no investment or profit to speak of. OK the wells might not all be revitalised and production increased as planned and there will be setbacks but at least with this guy at the helm we know where the company is headed. What sticks out to me about present strategy is it is a very cheap way of increasing cashflow with the wells being shallow and in need of simple refurbishment and more water injection. LK is in this for the long haul.

zzzzzzzzzzzz……………………
we know all what its really about, sentiment, politics and money but then thats what drives markets anyway.