Member Info for wizard125

Trollhunter2

The last time I heard UKOG say that was to there American partner when they bought them out of Horse Hill.

I understand that there fortunes changed shortly after the deal and they are now doing well.

I understand some of the problems are down to the UK government policy changes but to date the Uk has not reembursed or supported UKOG or its shareholders who were supporting the UK government policy in the first place.

This support is long overdue in my opinion!

Today's RNS from UKOG said.

"This divestment is fully in keeping with the Company's stated transition away from hydrocarbons into the clean hydrogen storage and production sector, with the proceeds being utilised to further our subsidiary UK Energy Storage's material salt cavern hydrogen storage projects in Dorset and Yorkshire. We wish Servatec well in their future stewardship of UKOG (GB)'s assets."

There was no mention for shareholders of the Loxley licence being relinquished after the millions spent!

https://drillordrop.com/2025/07/03/ex-chancellor-delighted-at-end-of-licence-for-ridiculous-gas-scheme/

Finance director Kirten gone possibly?

Skwizz

I thought that you may may be looking for a quick spread bet from Spreadex following their declared UKOG holding while the curtains are drawn?

Gla

Https://www.siemens-energy.com/global/en/home/stories/the-north-sea.html?dclid=CNC_9cyHzokDFWxepAQdHREcpw#tblciGiApNX6-x9zN5Jc2xb0d6-iTl8UK3DUooZWiukQ6IRUFtCDZiGgo9pOvncOZnLkUMNuXXw

Ninetails

What appears to have happened is that UK9G were granted the planning permission for Horse Hill with out the need for a environmental impact assessment which was stated as not necessary by Surrey County Council. Th8s has been defended by them and the UK government. The Supreme Court has overruled the High Court and Court of appeal in this matter.

If I understand correctly the oil and gas authority now North Sea transition authority would not have granted permission for development of the planned Wells.

While you are concerned about Rosebank this was a key test case as UK onshore needs planning permission and the now legal ruling of a environmental impact assessment where as Rosebank offshore does not need planning permission.

This ruling will likely be used as the president concerning the legal carbon emissions limits which need to be set and be met by the climate change commission.

The Horse Hill licences if I remember correctly were auctioned in 2005 by the then Labour government to provide energy security for the UK for the next 40 -50 years.

If 'No' recompense is forthcoming why should any financial institution or pension fund provide funding for any future national infrastructure projects.

The point was not one if defence of SS and the UKOG Board of directors but a query if they will follow up with there duty of care in seeking recompense to put things right if this injustice is a result of maladministration?

Ninetails

Why do you claim that you were fleced?

You have stated on a number of occasions how you lost money with UKOG shares. You later boasted that you had made your money back and a profit.

Now you claim to have been fleeced. If you have invested again lost again after all your protest posts I don't think that anyone can help you!

I'm sure that there are many long term shareholders including myself in a far worse position than yourself.

I don't know about you but I am looking what has happened, where we are and where we should be going for recompense.

Ninetails

What you don't seem to realise is that this ruling applies to all sites on and offshore!

The UK government sold and continue to sell licences while supporting development and protection by oil companies on and offshore with new licensing rounds still ongoing.

Its all supposed to be part of the UK's national energy security. Now it can all come to a halt and we can shut down the UK.

How many oilfields are currently operating having been through this process and is this required retrospectively by all?

Following successful long term oil flow tests,

Horse Hill was granted planning permission unlawfully for a 6 well production site with additional water injection wells.

Steven Sanderson recieved a large bonus based on the huge sucess. (Almost the current value of the company)

UKOG then went on to buy out the majority shareholder of the Horse Hill licences giving UKOG almost 87% Share of the licences while bring huge dilution to shareholders.

This share of the licences was bought on good faith at a price that was not justifiable based on the grant of planning permission being lawful when it was not!

This has now been proved by the recent decision by the Supreme Court.

Today shows some additional affect of the legal ruling with the government not going back to support the Cumbrian mine case with the Biscathorpe oil plans also being quashed.

Further details are provided in this new Drill or Drop article.

https://drillordrop.com/2024/07/11/breaking-biscathorpe-oil-plans-quashed-and-government-drops-defence-of-cumbrian-coal-mine-after-landmark-court-ruling/

I believe that it is about time that the UKOG Board of Director stood up and made a statment on the issue and how it is going to seek recompense for UKOG and its shareholders losses!

Does that sound like inside trading?

It sounds like the bitter eggcup brigade are back but HH is still producing.

Let's look forward to a new CPR after the next HH3 drill.

While many may not want to admit Ocelot is correct.

While I may not be happy with the current situation as a shareholder. I have to take a number of things into consideration.

1. The HH Supreme Court decision after many lengthy legal challenges is the final challenge possible in the courts. This has a affect on all the shareholders funds invested to date at Horse Hill and other Weald sites

2. It was always clearly stated by UKOG that a new Horsehill CPR would not be released until after HH2 drill or possibly a HH3 drill.

3. The relaunch of UKOG in 2018/19 stated that it was about growth for the company. I may not have envisaged what that may have entailed at the time,but here I am and I going to quit now?

'No'

3. Much was made of the future net present value of assets in the ground accross the Weald and what it would take to make it happen.From memory the timelines were based on 2030. While we now see the start decommissioning at whych Farm and future energy security concerns for the UK.

4. We also see the beginning of new developments through the Hydrogen storage in salt caverns.

Am I going to quit as times are tough. 'No' In for a penny, in for a pound. What do I have left not much its true. For me I had better keep on going as should this turn around at some point it may be to my advantage. If it fails now or later there is definitely nothing for the future.

While I am sure there will be many who slate this post for there own reasons I ask myself at this stage do I want to cut my own throat?

Gl. to all genuine shareholders.

Https://drillordrop.com/2024/02/26/perenco-confirms-potential-decommissioning-of-wytch-farm-by-2037/

Https://www.zerohedge.com/commodities/biden-set-announce-lng-export-ban-appease-climate-warriors-ahead-election

As you say Pboo the article was from Saturday 6 January 2024.

https://www.theguardian.com/politics/2024/jan/06/jeremy-hunt-issues-tax-warning-as-cut-in-national-insurance-takes-effect

Jeremy Hunt added:

“And domestic oil and gas is four times cleaner than imported oil and gas.”

Jereme Hunt said: “The independent panel for climate change that we have in this country are very clear that even when we reach net zero in 2050, we will still get a significant proportion of our energy from fossil fuels.

Ninetails

You come onto this board complaining whatever anybody does or doesn't do!

So why should anyone take any notice of what you say?

I think Ibug is back with avengence after his Christmas holidays, looking for some overtime payments for his posts!

Penguins

Thanks, but it is well known that your glass has always been empty for UKOG.

No-one including UKOG said that oil will flow from the Pinarova well.

It is the testing following the perforations that will show the potential of the site and any current flow rates and income.