Member Info for wizard125

Cyan2

I am not going to waste to much time on you as you are only here for the argument & not invested call it 'being pro active for investors against the company' if you wish but you are not that informed or you are being very selective with your paragraphs. As 2 wells are already funded & each single new well will fund the next ne well within 3 months if raising finance is that difficult it will not be necessary as UKOG can self fund.

The point being that with 2 wells already funded once drilled & with the targets met HH3 & HH4 will be funds & drilled in 3 months.

The CPR's covering reserves will be there but the experts have already said that the HH licence has 11 billion barrels oil what the recoverability is should soon be available for sourcing new sites & growth.

In the mean time UKOG is progressing the IOW & PEDL 234 the risks are not hat they were last year & things still Ned to play out. But I am sure you are capable of doing the maths.

Not everything will go wrong as it is impossible for everything to go 100% right.
Solutions have been found for BB & this time there should not be the problems of last time.

Up until this stage UKOG is been funded by shareholders now it will be time for growth & payback.

Gl LTH.

I know that you are very sinicle but once the CPR is released with the reserves, money should be able to be raised as discounted cashflow of £15-18 per barrel in the ground to fund operations without further dilution.

See SS interviews.

SS did say the Spring but he also mentioned April in his interviews for the drilling of HH2.

Ocelot

I think that last years figures were posted so late due to the problems at BB towards the end of February & the report in the accounts following the action taken in March & its outcome of non commercial flows.

This year we have had continuous updates on the EWT.

What we really need now is some positive news from the Kimmeridge CPR, likely recovery rates & reserves to take us to another level.

UKOG's drill cost for the next 2 wells are about £4.5 million if Tellurium do not have to contribute leaving about £1.5 million for Alba & Dorrimus if they have or can raise that cash.

That with ongoing costs since September probably leave about £5 million in UKOG's reserve.

Jiffybag

IMHO by Christmas things will of changed significantly enough for this to be a distinct possibility which would!d have shareholder support especially if it avoids dilution!

Read the RNS's & what could happen between now & then & what is likely to happen if good news persists & the Consequence's of it not happening?

Jiffybag.

I did not say today tomorrow or next week.

Time is a great healer & you may be surprised at the opportunities ahead for UKOG imo?

Time will tell I am a LTH as I believe this will come good & I have put my money where my mouth is!

tyche100

It has been a long 18 months since for figures to September 2017 which were released at the end f March 2018.

For me personally it has been a difficult period for UKOG with what has happened at BB & the cost of the right off
& how it has effected dilution & the share price for share holders.

It is my hope that with the currant successes at HH & future developments from self funding that we can put the past behind us.

That does not mean to say that we should ignore possibilities for example should the second half of Godley Bridge become available in licence terms or an opportunistic bid for Angus become available due to circumstance we have to trust the leadership of UKOG to make the right decisions on behalf of us shareholders based on the balance of probability.

This is sometimes a tough call but leadership has it responsibilities & should a welcome opportunity be missed the boot would surly be on the other foot.

Sedoc

All this goes to show is that you method of calculation is about a multiple of 2.65 out on your valuation & down bet of UKOG share price of 0.5p in March 2019 about which you have gone very quiet.

You could be a article writer for the Fool at Motley.

Wrong wrong & wrong again!

Sorry not on Twitter.

GL with your top up, hopefully no more dipping, I should have waited last week & I would have had a few more for my pennies but never mind it will come good!

Priests do have reputations you know!

Gl to you all as well cos UKOG time is coming & I have a nice little collection.......... CHOO! CHOO!

Bad text that was 'bubble point'

Hi Heid

No I had not seen your tweet this morning as I was just going to work & just got back.

But I will certainly have a peek.

I think uncle may be a bit frustrated as they say he has had to keep it under Bible point for the duration of the tests but it may all flow over at some stage!

Good news coming soon, I can feel it in my fingers, I can feel it in my toes & not to long to wait I hope.

Heid

We know you like a good rise!

Have a great day.

The oil flow has been very constant & choked back IMO.

So could have been a lot higher even for a vertical well despite all the ney sayers.

With Holmwood I'm sure that with UKOG's experience in the area they will have more detailed analyse of the Sweet spot from there logging but need the extension or it serves no purpose.

Bagofsand

You may think that but UKOG would not of become the operator without a reason.

What purpose does it serve?

There must be some changes ahead.

With Pboo's news of yesterday about the maximum flow allowed in tests it looks as if the flow has been tightly controlled to meet the allowance but could be significantly higher.

I take it that Penguins will find a reason for that not to be the case.

North folk

UKOG's results on 29.3.2019 could be the guiding star, showing a tunnel of light to the promised land in a otherwise baron environment!

Potentially plenty of news to come.

I hope you are ready for all he detailed reading ahead.

Great reply Pboo.

Thanks for that information better times ahead.

GL

Looking forward to seeing it all happening.

tkr234

We may have to wait a little while longer for the CPR hopefully not to much longer as the Kimmeridge flow tests only finished about the middle of February.

It is interesting that SS has bought just 6% of Dorrimus share of HHDL since the Kimmeridge test has finished which gives SS control of HHDL & the HH licences leaving Dorrimus 4%.

The interesting question for me is that now UKOG effectively control 65% of the HH licences what will Tellurian do?

1. Pay there share to UKOG for the development of HH & take there % minus UKOG's operating charge with no control.
This may make there 35% of the licence reduced to 20% of the profits.

or

2. Sell out.

You have seen what Solo did on the IOW before it began.

Another change of tac for Penguins.

It was not so long ago that he was stating that from the HHDL shareholder agreement if UKOG was the major shareholder it may have to buy out the smaller shareholders if they liked it or not.

That sounds quite restrictive as a one way contract, but it would also prevent them getting trapped into a contract where there say & there value would decline & they would not be able to sell out as nobody would want to buy such a small stake in HHDL not UKOG with no say.

Maybe all because they are unable to sell outside of HHDL which may benefit Telluriun.

Rodders74

So what are Alba's drill costs & have they got that sort of money after there last raise & current work programmes.