Member Info for wizard125

Gl now you have your motivation.

I hope you achieve your goal.

Peace of mind, Health & Happiness are most important.

Warik

I know there is a bolt for the door but I have not sold any UKOG shares yet.
Your other alternative is to set up a sale at a price which will automatically sell once that your target price is reached.

It may be easier to sell in smaller batches that all together due to liquidity at these times.

Very eloquently put Argus1.

Us mere mortal don't Stand a chance in his book!

Warik

If Ukog can borrow as discounted cash flow based on reserves, dilution will no longer be necessary.

Oil companies are valued on reserves not what is produced. (Oil in the ground & the recoverable %)

My hope is that the reserves will allow the funds to develop the 4 to 8 sites at the HH licenses of 3500 BOPD per site.

I understand your goal & wish you well if we get to 3p I would like to take some profits aswell.

Then as you are so clever J try putting the correct numbers into the sum base & you may stand a chance of getting the right numbers out.

The other factor that you do not seem to understand is the consept of the Weald.
So your mockery is baseless in mine & probably many other people's book.

Just for you J we will call earnings revenue & it is 720 - 1080barrels per well for 2 Wells.
The $18 cost is as stated by SS not me or made up.

We await the CPR from the Portland & Kimmeridge which I believe will be a major turning point for HH & UKOG

I still can not see you invested here or oil being produced from you native Hurricane.

I hope all comes good for you over there.

But unfortunately historically you have spent more time here than on the Hurricane board critisizing others.

My best advise is to put your own house in order first before playing the expert here!

Jaykay

You seem to forget as you usually do that UKOG is a onshore producer not an offshore non producer like Hurricane & costs are $18 per barrel or less.

Maybe like Sedoc you you will now get a more realistic figure.

Oh & no bond or debt repayments to make either.

Maybe that is why even now UKOG has a better P/E than Hurricane Energy.

This is potentially where SS will add alot of value to the company which will be a bonus for institutional investors with a proper plan of revenue growth through development which will support & enhance the share price.

Imo the P/E will depend on how UKOG is funded going forward!

As UKOG has no debt at present as it has been funded by dilution it has no debt repayments to make from earnings potentially 15-20 million per well in year one.

If HH3 - 6 are going to be self funding paying for the next wells no debt is needed.

If funds are needed for working capital for the IOW & PEDL 234 & or development how will this be funded?
will it come from earning, borrowings or dilution?

This leaves a lot of scope for the P/E or buybacks at an opertune moment depending g on the share price.

I have just sent my comments of support for the planning application to SCC again.

Adrian has a link on twitter.

Gl. Warik

Family, Health & Happiness are the most important.

Warik

I hope things work out to you.

Last year saw the share price of 0.99 before it touched 2.90 in short succession before you bought lower!

I believe this can happen again!

Warik

I understand & wish you well, whatever you decide.

Gl.

Warik

I hold many more share than 4.98 million with a good average but that is inconsequential as I believe that between 4 & 8 sites could be developed on the HH licence. The planning permission & CPR are key.

Read the presentation from November about the number of sites on the 100 square miles of the HH licence & multiple HH site by £100 million per site as stated by SS in his interview.

Waric

The length of the current perforated section is in the RNS 's & the planned length of the sidetrack & perforations is in the presentation.

If you believe that's perforated sidetrack with 750 m of perforations will flow less than a vertical well with about 37 m perforations.

I think it unlikely unless there are other problems but accept that I could be wrong!

Warik

I am sure that when the Portland was tested initially last year we regularly had 2 tankers 440 BOPD & on one day had 3 tankers making 660 BOPD.

THE rates have been reduced at the moment to 220 BOPD for prudent reservoir management

Down hole pressure remains good.

What everyone needs to remember is that this is still a EWT not a production test which will follow the 2 planned drills that we are waiting for with a return to Kimmeridge production!

Leepilcher

I think you have missed the details.

Read my posts from Sunday night what we are waiting for is the new drills for cashflow the CPR & planning.

Even with 10 billion shares Union Jack Oil share price has nearly doubled since March with the drilling of West Newton.

I am buckling up for the ride ready for when the drilling starts at Horse Hill.

Read my posts from Sunday night about the potential that SS still sees there with the sites & NAV as I can not copy & paste from my phone here.

He seems to be spreading many important details in many different places but when put together it makes a big sum!

Open price 1.07 here or what?