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ocelot
Fair point, but remember in the future if oil prices are going to remain raised the Net present value worked out on Horse Hill oil was based on a oil price of $70 giving a per barrel value of £15 - £18. If oil prices remain at or above $100 per barrel that figure rises while hopefully with water injection costs will fall and production rise.
nomlungu
He did say that and until the EA permit is in place for the six wells no one can count any chickens.
He also opened up other options of a farm in for development which would be similar to what UKOG has done in Turkey.
If UKOG transferred the operator status to another company for the development of the six wells with the associated costs the picture may look very different as revenues rise.
ocelot
Everyone seems to forget that UKOG only had about a 30% share of the Horse Hill recourses in 2018 not the 86% that it now has.
When the resources are added or considered including 'Net assets values' at 86% not 30% the picture can change very quickly if this provides reserve based lending for development dilution would be minimized.
I hope that the EA approval for the water injection is approved soon so costs can be reduced and profits rise allowing further development and growth while helping provide a return on investments.
UKOG net asset value per share almost back to 2018 levels.
All we need now is the share price to match despite what is perceived as dilution.
30 Sep '21 30 Sep '20 30 Sep '19 29 Sep '19 30 Sep '18
Operating Margin (243.60%) (1,547.69%) (2,247.89%) (2,280.95%) (1,634.78%)
Return on Capital Employed (41.15%) (231.67%) (118.90%) (118.79%) (129.12%)
Dividend Cover n/a n/a n/a n/a n/a
Dividend Yield n/a n/a n/a n/a n/a
PE Ratio n/a n/a n/a n/a n/a
PEG n/a n/a n/a n/a n/a
Dividend per Share Growth n/a n/a n/a n/a n/a
Net Asset Value per Share 0.04p 0.03p (0.02p) (0.03p) 0.05p
RE: Drill or Drop articleToday 09:45
"Last month, appeal court judges were split over the issue."
They were not "split" - It was 2 to 1 - that is not split.
GL SR
.........
Was it not reported that 'No further appeals would be granted'?
Ibug
Rubbish.
BB would have gone long ago had it not been relevant. That is what happened with the Holmwood ( A34) licence which was given up and it may be interesting to note that Angus say the Kimmeridge at Brockham is not worth pursuing but they are looking at going back to the Portland there and now can inject produced water from the site which would make it more cost efficient.
It is also interesting to note from todays RNS that UKOG has not given up the licence on the IOW which may be a significant sign that Geothermal may be pursued on the IOW at the Arreton site while there is also they have a second site earmarked at Godshill.
Grayling
The cynical might say that the Broadford bridge extension application is in the hope that the company goes into administration before they need to pay for the restoration of the site once it is proven commercially non-viable. A transparent attempt to kick the cleanup costs into the long grass.
......
The not so cynical may say that it shows the extent of the Kimmeridge reservoir within UKOG acherage with Broadford Bridge being the Southerly extent and Loxley being the Easterly extent while Horse Hill is in the North of the acherage. That would make the Portland gas advantageous but prove the extent of the Kimmeridge resources.
Better times ahead once Loxley becomes a reality imo.
Ibug
To answer your question.
https://drillordrop.com/2022/03/21/new-name-for-oil-and-gas-regulator/
Mr Penguins
Maybe you have forgotten but we're you not told that UKOG would be going back to the centre of the Weald.
News comming soon. I think that news will come after the EA permit and water injection for Horse Hill giving increased production and lower costs.