RE: Motley fool25 Apr 2019 01:04
DHC
Thank you again for your summary of some of the positives about UKOG.
I just wish that one of these so called journalist had the courage to take even one positive point that you have mentioned & explore it in a little more detail as to what it means & its potential.
Having said that we all have to be realistic in saying it is not a perfect world & not everything will work 100%, 100% of the time.
We have seen that to our costs by the big write offs that we have seen & had to endue the pains of as shareholders.
We need to be able to trust in our leaders that they are working in the short, medium & long term for all our interests & maybe the fool has a point that in developing the conventional oil to fund the further development of the unconventional.
PEDL 143, 234, & 331 all have conventional Portland layers & cash is king in driving forward the unconventional oil layers.
It is my understanding that SS did not say he does not care about shareholders but did say that that the share price was not important until we came into production.
We are at this stage on the cusp of this now after the successful EWT & the imminent drilling of HH2 & HH1y which will be flow tested & put into long term production in late 2019 / 20.
This is the point that SS has described as being when significant value will of been added.
IMO. This will start the ball rolling for the development of HH, Arraton, the PEDL 234 projects & now as the new operator with the controlling interest of PEDL 143.
There have been testing times for many shareholders over the last few years, with big losses for some & traders playing the field.
My personal opinion is this is going to come to fruition later this year. If things go well with the next 9 wells that could be the growth of 6 wells per site so 54 wells.
That does not take an consideration of the 11 billion barrels of oil in place on the HH licence alone & as it is developed how many 6 well sites can be developed & the flow developed though new technology.
I am not so nieve as to believe that SS & the BOD has a magic wand & this is all going to happen over night.
The key questions of finance will I hope be in part answered by the updated CPR.
SS has a great knowledge of the oil industry & the Weald. What we need now is him to instill into the market the confidence to take UKOG to the next levels & beyond.
This is the big challenge for you now SS to provide the results, the value & your commitment though your own investment in your & our beliefs that you have promised shareholders taking this company to a mid cap company.
Are you prepared for the challenge give us proof so we we do not have to endure the bile professed by the fool at motley who at present continuous mock you, our investments & the integrity of this company.
Actions speak louder than words!
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