Member Info for wizard125

Ocelot

What was also interesting was his comment on the Kimmetidge at Horse Hill from Slumberger numbers?

10 billion barrels oil at HH with 8 - 14% recoverable.

I don't think that we have heard such large recoverable oil figures from SS yet from the Kimmeridge beginning with 3%.

10% recoverable is 1 billion barrels recoverable at Horse Hill with over 50% to UKOG.

THIS gives a discounted Cash flow based on £16.50 per barrel value in the ground of £8,250,000,000 to UKOG for its 50% for the Kimmeridge bet not including the Portland which is valued at £150,000,000 - 180,000,000

SS is still obviously aiming higher with Amex research in Houston Texas to increase those percentages further.

Tick up now SP 1.10

We should now get back to the 1.13 - 1.15 trading range.

This was only a 7 day pressure test & we are back to our routine 220BOPD routine.

We know some of the new equipment is already on site for the next drilling stage & the progression is coming just a little more patience is required.

0.85

I think you have long missed the bottom SP now 1.09 & going North.

Along way to go, hold on to those golden tickets.

The 1st tanker of the dad is out on it's way to Gamble.

Just pure speculation but.

Igas said today about looking for new sites for Portland & Kimmeridge oil.

If I understand correctly Igas own the other half of Godley Bridge site in the next licence.

SS has previously mentioned that UKOG only hold 1/2 the Godley Bridge discovered Portland gas & Kimmeridge oil site.
I don't think that shareholders would want to see a buyout & more dilution so does anyone think it is it possible we could see a joint venture across the licence boundaries?

Yes there are some nice buys coming in now.

Free-money

The market for some reason still thinks that it needs to punish SS /UKOG for the share price drop which occurred after the French brothers sold & the dilution that has taken place.

IMO. This will be more than repayed once the confidence starts to rise & the sites & licences look to be proved up!

Igas RNS this morning states 2398 barrels oil produced in 4 months.

Ukog are planning 1440 - 2000 BOPD from the HH1y &HH2 sidetracks.

Why do you think that they are looking for new sites in the Weald for Kimmeridge & Portland oil.

Unfortunately for Igas this will not give them the keys to unlock Kimmeridge oil & develop it's full potential without a lot of work & study which SS has already done.

This is what SS is currently working on & others are starting to see the potential while others are still complaining about the foresight & dilution.

This can achieve a far greater potential than we & the market realize at the moment IMO.

A very welcome sight for many.

Thanks guys.

paolo111

UKOG are currently awaiting the drill to drill 2 new sidetracks at this site targeting 720-1080 BOPD from each well both drills have all permissions with production flow tests to follow.

Paulo111

You will be glad to hear that the pump has been pumping again since Saturday evening according to twitter following a 7 day pressure test which I presume will all form part of the CPR when it drops.

Shareholders should remember this is still a flowtest not full production.

That will come later.

Thanks again to the eyes for there support of shareholders though a difficult time.

Thanks for the top up shares at below1.08 this morning whoever sold.

Newboy

We know the oil is there how do you think it can be got out without funds?

Magic wands?

Ninetails

SS has mentioned it himself about how shareholders are frustrated by the dilution so he is aware.

I think it was in his last interview with Katherine but if not the one before.

Mirasol

Where does Nigel Farge stand on oil as he now seems more likely than labour to get to No. 10?

Never a dull moment with that one.

I know the dilution is frustrating it is for me aswell but I believe we are at a early stage and with a little paitance & being prepared to hold the pace of growth will be much quicker in the future as things fall into place & funds become available hopefully from discounted cashflow. eg. Oil in the ground.

I'm looking forward for this going up a stage or two shortly. Certainly within the next month before we get to planning.

Good luck.

It is all very well being critical but having other interests & being diversified as UKOG is allows other areas to be developed allowing contingency planning rather than having all your eggs in one basket.

If planning for HH is going to be dragged out by SCC we can still progress with drilling HH1 & 2 & progress Arrington & Dunsfield for 2020.

We will not just come to a Holt as there is no alternative look what happened last year but on UKOG march to sucsess.

I would like to see some buybacks or dividend from UKOG but we need a solid base first!

Sageman

Maybe you calculations do not include PEDL234 or the IOW as that is where next year's targets are & working capital is still needing to be raised at this stage.

Maybe your figures do not consider the extra income from the additional % of the profit from what has been bought.

The controling interest ensures that we are the operator which gives UKOG & SS the key information on the sites that other stakeholders are not partie to & I am sure a royalty payment from the stakeholders for there opperator services.

It would be interesting to know if the 17 million share you own is an increase or decrease on the 14 million & 7million for your wife a couple of weeks ago for trading purposes?

Here here Mirasol!

If things go to plan UKOG could have £50-60million free cash flow next year with HH1 & 2 in production from there it will grow but the other sites are also planned for development next year & things need to be in place for that.

Sageman

The 1.3billion figure quoted is from the Nutec figures in 2015 for the Weald & is fact but maybe not up to date.
The figures were low OIP 69billion barrels,
Best 124 billion & a high of 229 billion barrels of oil & UKOG owns 20% of the acreage but now with a higher persentage.

You say that the BOD are the servants of the company owners.
Personally I think that is incorrect as the BOD is employed to run the company on behalf of shareholders in line with the law of the land & is accountable to shareholders.

The stratagy they use is by there design & has been approved by shareholders looking for growth when they voted last year to become a operating company stating that they believed that it was in shareholders interests.

I understand your points but think that the time frames may not be suitable for your investment strategy as it will take time to develop the sites if the resources are not sold off.

SS has stated that once the value recoverable is know known it can form the basis for lending as discounted cash flow of £15-18 per barrel.

This value will not be fully apparent imo. until the planning permission is granted for HH & it is in production.